JNC Resources Closes Definitive Agreement with Southern Precious Metals Ltd. in Escrow
JNC RESOURCES CLOSES DEFINITIVE AGREEMENT WITH
SOUTHERN PRECIOUS METALS LTD. IN ESCROW
VANCOUVER, BC – April 26, 2021 – (CSE: JNC) (OTC: JNCCF) (Frankfurt: 5VH) – Further
to our March 2 nd, 2021 news release, JNC Resources Inc. (“ JNC” or the “ Company”) and
Southern Precious Metals Limited (“SPML”) are pleased to announce the closing in escrow of the
Definitive Agreement in which JNC has effectively acquired a 100% interest in SPML, and its
subsidiary which hold 100% interests in the Malebo and Solomons Properties in New South Wales
(NSW) Australia. The Company issued six million (6,000,000) common shares (the “ Purchase
Shares”) to the shareholders (“ Shareholders”) of SPML in exchange for all of the issued and
outstanding shares of SPML. The SPML Shareholders have entered into undertakings wherein the
Purchase Shares, which are otherwise free-trading, will be released as to 25% on closing (the
“Closing”), 25% on October 23, 2021, an additional 25% on April 23, 2022 and the balance on
October 23, 2022. The Purchase Shares are currently being held in escrow pending New South
Wales ministerial approval (“ Ministerial Approval ”) of the change in control of SPML. The
Company has made application to the minister for such approval and provided prescribed due
diligence information on the Company as part of such application process. Once Ministerial
Approval is obtained, the definitive Closing of the acquisition will occur and the escrow closing
documents will be released from escrow.
About JNC Resources Inc.
JNC is a North American-based junior mineral exploration company with a goal to develop under-
explored properties and benefit from deal flow generated by strategic partnerships and growth
opportunities. Currently the Company is developing its 100% optioned Triple 9 Project in South
Central British Columbia. The Triple 9 Project is a gold property with a new discovery of high
levels of base metals, located 20 km from the town of Sicamous. JNC also has an option agreement
with Great Basin Resources to acquire 100% control and interest in the Imperial Project in Nevada.
The Imperial Property is located in Esmeralda County, Nevada, which has been a prolific mining
area in the state. The Property is in close proximity to the town of Goldfields, where gold
production occurred in the early part of the 20th century . JNC has recently acquired the Malebo
and Solomon claims in the province of New South Wales, Australia, with an exploration program
planned in 2021.
For further information please contact:
Michael Mulberry
T: 778-855-5001
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law.
Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”,
“intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or
conditions “may” or “will” occur.
Although the Company believes that the expectations reflected in applicable forward-looking statements
are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-
looking statements are subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in such statements.
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RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.