Jourdan Announces More Elevated Li₂O Grades From Its Drillhole Campaign; CFO Retirement

TORONTO, Jan. 18, 2022 (GLOBE NEWSWIRE) — Jourdan Resources Inc. (TSXV: JOR; OTCQB: JORFF) (“Jourdan” or the “Company”) is pleased to publish the final assay results of its September/October 2021 drilling campaign on its flagship Vallée project, which is located 35km north of Val-d’Or in Quebec, Canada. The results are from the last three drill holes and show multiple distinct zones of pegmatite intersections.

Highlights of Line 3*:

Drill hole From
(m)
To (m) Length
(m)
Li2O
(%)
VAL21-3-2 41.85 42.75 0.9 1.58
VAL21-3-2 42.75 43.7 0.95 1.31
VAL21-3-2 43.7 44.6 0.9 0.97
VAL21-3-3 31 31.9 0.9 0.92
VAL21-3-3 162.4 163.4 1 1.44
VAL21-3-4 71.2 72.05 0.85 1.06
VAL21-3-4 72.05 72.85 0.8 1.14
VAL21-3-4 100.7 101.8 1.1 1.63
VAL21-3-4 101.8 102.85 1.05 0.91
VAL21-3-4 102.85 103.95 1.1 1.32
VAL21-3-4 129.8 130.85 1.05 1.08
VAL21-3-4 177 191 14 0.67

*drill core width only, does not represent true width

Photos accompanying this announcement are available at :

Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/4070c391-eaaa-4033-81e1-95f564607417

Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/f94e33d9-35ab-4d81-ac60-5e875ef10989

Figure 3: https://www.globenewswire.com/NewsRoom/AttachmentNg/222cec39-daa4-48e6-97ac-b7ca51ce3cc9

As mentioned in a press release dated October 15, 2021, the Company has completed its previously announced diamond drilling program, with 1,682 meters of drilling completed in October 2021. The Company has now received 100% of the assay results from the program in which every hole showed multiple intersections of spodumene-bearing pegmatites.

The drill program was completed by Les Forages Géo-Nord of Dolbeau-Mistassini, Quebec, under the supervision of Alexandr Beloborodov Géologue Inc. (ABG Exploration) of Laval, Quebec.

The pegmatite dykes appear to become more abundant and wide further northwards and it is Jourdan’s intention to expand on historical drillholes during the next campaign. In the meantime, Jourdan is actively applying for permits for the next drill campaign expected to commence in the 1st quarter of 2022. This campaign aims at enlarging the strike extent of the multiple spodumene-bearing pegmatites on the flagship Vallée project.

Jourdan’s Chief Executive Officer, Rene Bharti, commented, “We are once again encouraged by the positive drill results we are receiving from the lab. The goal at Jourdan has been, and will continue to be, to keep actively drilling across all zones of our properties, and to define a resource for the Company. With lithium prices at all-time highs, Jourdan intends to continue working towards its ambition of becoming Quebec’s next lithium producer.”

“We are very encouraged by the achieved results in grade but also the abundance of individual spodumene-bearing pegmatites,” said Dr. Andy Rompel, Executive Chairman of Jourdan, “and we are looking forward to enlarging the strike extent and therefore the anticipated deposit size during the next drilling campaign on our Vallée property northwards and eastwards.”

All samples have been sent to Impact Global Solutions Inc. Laboratory in Delson, Québec (“IGS”) for analysis by sodium peroxide fusion and ICP finish. This laboratory is recognized by the industry and accredited ISO/MEC 17025 by the Standards Council of Canada. In addition to the quality assurance and quality control (“QA/QC”) employed by IGS, Jourdan developed a rigorous QA/QC protocol for its operators, including the insertion of analytical standard samples, duplicates and coarse silica blanks on a systematic basis.

Further significant results

Drill hole From (m) To (m) Length (m) Li2O (%)
VAL21-3-2 41.85 42.75 0.9 1.58
VAL21-3-2 42.75 43.7 0.95 1.31
VAL21-3-2 43.7 44.6 0.9 0.97
VAL21-3-2 94.7 95.7 1 0.51
VAL21-3-2 95.7 96.7 1 0.66
VAL21-3-2 96.7 97.7 1 0.56
VAL21-3-3 30.25 31 0.75 0.55
VAL21-3-3 31 31.9 0.9 0.92
VAL21-3-3 33.6 34.6 1 0.67
VAL21-3-3 162.4 163.4 1 1.44
VAL21-3-4 58 58.5 0.5 0.80
VAL21-3-4 69.5 70.35 0.85 0.49
VAL21-3-4 70.35 71.2 0.85 0.77
VAL21-3-4 71.2 72.05 0.85 1.06
VAL21-3-4 72.05 72.85 0.8 1.14
VAL21-3-4 72.85 73.65 0.8 0.52
VAL21-3-4 77 77.85 0.85 0.62
VAL21-3-4 80 80.85 0.85 0.88
VAL21-3-4 100.7 101.8 1.1 1.63
VAL21-3-4 101.8 102.85 1.05 0.91
VAL21-3-4 102.85 103.95 1.1 1.32
VAL21-3-4 103.95 105.05 1.1 0.65
VAL21-3-4 120.85 121.9 1.05 0.88
VAL21-3-4 128.8 129.8 1 0.77
VAL21-3-4 129.8 130.85 1.05 1.08
VAL21-3-4 144.7 145.75 1.05 0.56
VAL21-3-4 172.35 173.3 0.95 0.55
VAL21-3-4 177 191 14 0.67

CFO Retirement

The Company is also pleased to announce that Mr. Ryan Ptolemy has been appointed as the chief financial officer of Jourdan.

Mr. Ptolemy is a CPA, CGA and CFA charter holder who also attained a Bachelor of Arts from Western University. Mr. Ptolemy serves as chief financial officer to many public and private companies in the resource sector, particularly development-stage companies. Mr. Ptolemy formerly served as chief financial officer for an independent investment dealer in Toronto where he was responsible for financial reporting, budgeting and the company’s internal controls.

The appointment of Mr. Ptolemy follows Ms. Deborah Battiston’s retirement from her role as the chief financial officer of the Company. The board and management of the Company express their gratitude to Ms. Battiston for her efforts and extensive contributions and wish her well in her retirement and future endeavours.

About Jourdan

Jourdan Resources Inc. is a Canadian junior 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 mining properties. The Company’s properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around North American Lithium’s producing Quebec Lithium Mine.

Qualified Person

The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, P.Geo., an independent consultant that is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

For more information:

www.jourdaninc.com
Rene Bharti, Chief Executive Officer
Email: info@jourdaninc.com
Phone: (416) 861-5800

Cautionary statements

The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in any target being delineated as a mineral resource.

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s ability to complete any future drilling campaigns to expand known deposits, to establish a resource at its properties, and to execute its business plan, including its ambition to become Quebec’s next lithium producer. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Jourdan to be materially different from those expressed or implied 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, labour disputes and shortages and other risks of the mining industry. Although Jourdan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. Accordingly, 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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