AJN Receives Consent to Proceed on the Okote Gold Project
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
29/07/25
AJN Resources Inc. Receives Consent to Proceed on the Okote Gold
Project in the Adola Gold Belt of the Renowned Arabian-Nubian
Shield in Oromia State, southern Ethiopia
Vancouver, BC, July 29, 2025: AJN Resources Inc. (CSE: AJN) (Frankfurt: 5AT) (AJN or the Company)
is pleased to announce that following a series of formal discussions and deliberations between Godu
General Trading S.C. (Godu) and the O-Mining Group, Oromia Minerals Development Authority and
senior officials of the Oromia Regional Government, the Company has received consent and full
support from all parties to commence its due diligence on the Okote Gold Project located within
100km of the c4.5Moz Lega Dembi Gold Mine, the largest gold producer in Ethiopia. AJN will now
mobilise field crews with support from Godu to conduct detailed mapping and sampling
programmes on all new artisanal workings outside the area drilled previously. In add ition, the
Company will inspect drill cores from historic drilling carried out by MIDROC as well as a series of
trenches excavated recently over artisanal workings by Godu in preparation for a 1,500m diamond
core drilling programme as per agreement.
Highlights
• Consent received to commence due diligence activities which include 1,500m of drilling on
the Okote Gold Project
• Preliminary desktop studies have identified new areas of extensive artisanal workings to the
north and east of the area drilled previously by MIDROC – no previous drill coverage
• Workings and spectral analysis cover an area of circa 3,000m x 500m within a potential
mineralised corridor which transgresses the tenement from south to north
• Exploration team will now commence with detailed structural mapping and sampling of
artisanal workings which will give an indication of the true size potential of the project – 25%
of prospective target area covered by drilling
• A 1,500m diamond core drilling programme is scheduled to commence within 4 to 6 weeks
– designed to confirm historic drilling results and to test grade and widths of mineralisation
underlying the new, previously untested areas guided by the mapping and sampling of
artisanal workings and trenching
CEO and President Klaus Eckhof commented: “We are extremely pleased to have finally received
consent to commence our due diligence on the Okote Gold Project, on which recent desktop studies
suggest only 25% of the identified mineralised area has been covered by drilling. It has always been
our view that the project has huge upside which was not drill tested previously and this appears to
be the situation judging by the extent of artisanal workings to the north and east of the area drilled
previously by MIDROC, the previous owner of Okote. Our field crews are expected on site within the
coming weeks once all permitting and travel clearances have been finalised. We look forward to
AJN News Release
29/07/25
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providing regular updates as our teams systematically map and sample known and new artisanal
workings in preparation for the drilling.”
Okote Project – Preliminary Findings in the Desktop Study
An ongoing desktop study revealed new extensive artisanal workings at several locations to the
north and east of the area drilled previously by MIDROC. There has been no drilling in the area
which supports the company’s view that the Okote Project is under explored and has good
potential to uncover new areas of gold mineralisation which will compliment previously defined
gold mineral resources from historic drilling.
The study showed that the workings covered an area of c3,000m x 500m to the north and east
of the previous drilling as shown in Figures 1 and 2. In addition, a spectral study conducted
previously identified a number of exploration targets for follow up with soil sampling and
trenching. The spectral anomalies fall within an interpreted mineralised corridor which
transgresses the tenement from south to north and are best defined in the southern 5km of the
tenement (Figure 1).
Figure 1: Historic drill holes, recent artisanal workings and spectral targets within the Godu
licence area
Note: Spectral data from satellite or airborne sensors can be used to map geological
formations, identify rock types, and detect alteration patterns associated with mineralization.
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29/07/25
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Figure 2: Zone of new extensive artisanal workings and trenches covering 3km of prospective
ground to the north and east of the historic drilling within the southern Godu licence area.
The extent of recent artisanal activity is clearly shown in Figure 2 within an area that has not been
drilled previously and covers a strike length of 3km. Since acquiring the licence, Godu conducted a
trenching programme over the artisanal workings and selected portions of the spectral targets as
shown in Figure 2 but could not cover the costs to have the samples analysed. Gold mineralisation
at Okote is predominantly within NNE trending, 10-20m wide shear zones which hosts a series of en-
echelon quartz veins containing sulphides, tourmaline and free gold. Shear zones within amphibolite
and carbonate schists with quartz veins and stringers were exposed and sampled in the recent
trenches. Continuous channel samples from prospective trenches will now be submitted to ALS
Global in Ireland for gold analysis.
The Company will now conduct detailed structural and lithological mapping all artisanal workings
and open trenches and will log selected holes drilled previously to better understand controls on
mineralisation during the 90-day due diligence period which commenced 18 July 2025. This will be
followed up with a 1,500m drilling programme designed to twin selected holes from previous drilling
and to test gold mineralisation below newly identified areas from mapping and sampling of the
artisanal workings and trenches.
AJN News Release
29/07/25
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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.
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
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.
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29/07/25
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