DO NOT DISTRIBUTE TO UNITED STATES WIRE SERVICES OR DISTRIBUTE IN THE UNITED STATES

TORONTO, July 7, 2021 (GLOBE NEWSWIRE) – Jourdan Resources Inc. (TSX-V: JOR) (“Jourdan“or the”Company“) is pleased to announce that it has closed its non-middleman flow-through private placement financing for gross proceeds of $ 720,000 (the”Offer“). For more information on the Offering, please see the Company’s press release dated May 27, 2021, which is available under the Company’s profile on SEDAR at www.sedar.com.

As part of the placement, Jourdan issued 14,400,000 units (each, a “Unit”) At a price of $ 0.05 per unit. Each unit was issued on a flow-through basis and consists of one common share of the Company and one-half common share purchase warrant (each entire warrant, a “To guarantee“). Each warrant entitles its holder to acquire one additional common share of the Company at an exercise price of $ 0.07 until July 7, 2023.

All securities issued in connection with the offering are subject to a legal hold period expiring on November 8, 2021. Completion of the offering is subject to receipt of final approval from the TSX Venture Exchange (“TSXV“). Finder’s fees were paid in accordance with TSXV policies to Roche Securities Limited consisting of a cash commission equal to $ 36,000 and an issue of 360,000 warrants (“Searcher Mandates”) And to Marquest Asset Management Inc. consisting of an issue of 360,000 originator warrants. Each warrant entitles its holder to purchase one common share of the Company at a price of $ 0.07 per share until July 7, 2023. The Company intends to use the net proceeds of the offering to finance exploration expenses on its Vallée, Preissac, Lacorne and Baillarge lithium mining properties and for general corporate purposes.

Rene Bharti, CEO of Jourdan, commented: “We are delighted to use the proceeds of this offering to accelerate our planned drilling campaign, which is the next step on our path to defining an initial mineral resource estimate. To this end, we have stepped up our exploration activities, most recently with a visit by our Executive Chairman, Dr. Andreas Rompel, to our Vallée property in Val d’Or to inspect planned drill sites.

Insiders of the Company have subscribed for Units in connection with the Offering (the “Insider participation“). Insider participation is considered a “related party transaction” within the meaning of NI 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101“). Insider participation is exempt from the formal assessment and minority shareholder approval requirements of NI 61-101. The Company did not file a material change report more than 21 days before the closing of the Offer, as the details of the aforementioned insider stake were not settled until shortly before the closing, and the Company wished to close the Offer in an accelerated manner.

About Jourdan Resources

Jourdan Resources Inc. is a junior Canadian mining exploration company trading under the symbol “JOR” on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the acquisition, exploration, production and development of mineral properties. The Company’s properties are located in Quebec, Canada, primarily in the spodumene pegmatites of the La Corne Batholith, around the producing Quebec lithium mine of North American Lithium. This mine is part of Contemporary Amperex Technology Co. Limited (CATL), China’s largest manufacturer of automotive batteries.

For more information:

www.jourdaninc.com

René Bharti, CEO and President
E-mail: [email protected]
Telephone: (416) 861-5800

Warnings

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements regarding the offering, including the intended use of the net proceeds by the Company, as well as the business, operations and plans of the Company. Generally, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “expected”. , “Estimates”, “anticipates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or statements that certain actions, events or results “Could”, “could”, “could”, “could” or “will be taken”, “occur” or “be reached”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause Jourdan’s actual results, level of activity, performance or achievements to differ materially from those expressed or under – understood by such forward-looking information, including, but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of minerals; accidents, labor disputes and shortages and other risks in the mining industry. Although Jourdan has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results to not be as anticipated, estimated or expected. . There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. Jourdan does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities law and may not be offered. or sold in the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.



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