AJN Commences Okote Gold Project Due Diligence and Announces Private Placement Offering
AJN Resources Inc.
+44 7496 291 547
CSE: AJN, Frankfurt: 5AT
Suite 1400 - 1199 West Hastings St,
Vancouver BC V6E 3T5
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ajnresources.com
CSE: NEWS RELEASE
18/08/25
AJN Resources Inc. Commences its Due Diligence on the Okote Gold
Project in the Adola Gold Belt of the Renowned Arabian-Nubian
Shield in Oromia State, southern Ethiopia; Private Placement Offering
Vancouver, BC, August 18, 2025: AJN Resources Inc. (CSE: AJN) (Frankfurt: 5AT) (AJN or the
Company) is pleased to announce that it has mobilised field crews to commence field work on the
Okote Gold Project located within 100km of the c4.5Moz Lega Dembi Gold Mine, the largest gold
producer in Ethiopia. Godu General Trading S.C. (Godu), the owners of the Okote licence have built
strong relationships with local government bodies, local inhabitants and artisanal miners at Okote
and will ensure the Company has full support and will have unimpeded access to the project area
including all new artisanal workings which cover more than 3km of strike. The Company has also
engaged Mining and Drill Systems (MDS) of South Africa to conduct a minimum of 1,500m of
diamond drilling as per agreement signed with Godu.
Highlights
• Exploration team to commence detailed field work over the prospective area identified from
abundant artisanal workings which cover an area of circa 3,000m x 500m within a potential
mineralised corridor which transgresses the tenement from south to north
• Resource work and on ground mapping will identify priority for follow up drilling
• Historic drill core stored at Lega Dembi will be logged in detail to understand structural and
lithological controls on gold
• All newly acquired data will be incorporated into the database for optimum planning of the
1,500m due diligence drilling programme
• Inhouse resource work is ongoing
o CEO and President Klaus Eckhof commented: “We are extremely pleased to have
finally commenced our due diligence on the Okote Gold Project, where our
experienced geological team will be focusing on mapping and sampling the extensive
artisanal workings exposed over 3km where there has been no previous exploration.
The team will also study drill core and trenches over the area drilled historically to
orientate themselves with respect the geology and controls on mineralisation which
they can apply to the broader mineralised corridor including the workings to the east.
The area is clearly prospective where MIDROC drilling results included mineralised
intercepts of 18.13m at 3.25g/t Au, 25.05m at 3.82g/t Au, 12m at 3.34g/t Au and 13m
at 8.71g/t Au from a single drill hole*”.
* Note that these historical results have not been validated by AJN and any such
validation will be part of future work programs.
AJN News Release
18/08/25
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QP Statement
Mr. Dylan le Roux (BSc Hons) is an independent consultant of AJN Resources Inc. and a qualified
geologist. Mr. le Roux is a registered Professional Natural Scientist (Geological Science) with the
South African Council for Natural Scientific Professions (SACNASP Reg. No. 155814). Mr. le Roux is a
qualified person (QP) under NI 43-101 and has reviewed and approved the scientific and technical
information contained in this news release.
Private Placement Offering
AJN is also pleased to announce a non-brokered private placement offering of units (each, a Unit)
in the capital of the Company at a price of $0.12 per Unit, for gross proceeds of up to $500,000 (the
Offering). Each Unit will consist of one common share and one share purchase warrant (Warrant),
where each Warrant will entitle the holder to purchase one additional common share ( Warrant
Share) at an exercise price of $0.15 per Warrant Share for a four year period.
AJN intends to use the net proceeds from the Offering for the technical and legal due diligence in
connection with a possible property acquisition, exploration on the Company’s properties and for
working capital purposes. A finder’s fee may be payable with respect to a portion of the Offering.
The securities issuable pursuant to the Offering will be subject to a four month and one day statutory
hold period. The issuance of the Units will not result in a change of control or materially affect control
of the Company.
About AJN Resources Inc.
AJN is a junior exploration company. AJN’s management and directors possess over 75 years of
collective industry experience and have been very successful in the areas of exploration, financing
and developing major mines throughout the world, with a focus on Africa, especially the Democratic
Republic of Congo.
For further information, please contact Investor Relations:
Sheena Eckhof
Director, Investor Relations
Visit us at www.ajnresources.com
Te l : + 4 4 7 4 9 6 2 9 1 5 4 7
On Behalf of the Board of Directors
Klaus Eckhof
CEO and President
AJN News Release
18/08/25
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Cau$onary Note Regarding Forward-Looking Statements
The information in this news release may include certain information and statements about
management’s view of future events, expectations, plans and prospects that may constitute forward-
looking statements. Forward-looking statements are based upon assumptions that are subject to
significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety
of factors, the actual results, expectations, achievements or performance may differ materially from
those anticipated and indicated by these forward-looking statements. Although AJN Resources Inc.
believes that the expectations reflected in forward-looking statements are reasonable, it can give no
assurances that the expectations of any forward-looking statements will prove to be correct. Except
as required by law, AJN Resources Inc. disclaims any intention and assumes no obligation to update
or revise any forward-looking statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in factors affecting such forward -
looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Not for distribution to United States newswire services or for dissemination in the United States.