DRC State Endorses MOU Signed Between AJN and the DRC
AJN Resources Inc. Announces that Democratic Republic of the Congo State endorses the
MOU signed between AJN and the Democratic Republic of the Congo
Vancouver, BC, April 19, 2022: AJN Resources Inc. (CSE: AJN) (Frankfurt: 5AT) (“AJN”) is pleased
to announce an update, further to AJN’s February 8, 2022 announcement of the signing of the
Memorandum of Understanding (the “MoU”) with the Government of the Democratic Republic
of the Congo (the “DRC” or the “State”), on the proposed acquisition by AJN of a number of
exploration permits in t he highly prospect ive Kilo -Moto Gold Belt in N orth-East DR C (the
“Transaction”). The Government of DRC , having requested and subsequently having been
provided with additional information relating to the management and structure of AJN, and the
structure and merits, to the DRC , of the Transaction, the Government of DRC has now
approved the relationship between the State and AJN Resources.
The State has assessed a number of exploration areas of merit, which have been held through a
variety of joint ventures with various companies , but which have never be en advanced or
explored over the past 75 years . The assets under revi ew include several highly prosp ective
gold proj ects in the Kilo -Moto Belt, which hosts Barrick’s Kibali Gold Mine, and a number of
licences which are prospective for lithium in the Manono area. According to the MoU, those
selected assets will be made available to the newly created, State wholly owned subsidiary,
“Congo Ressources SAU”.
Over the coming weeks the State and AJN will work on transferring the selected licences, which
have been returned to the public domain, to Congo Ressources SAU.
Upon the successful closing of the proposed Transaction, AJN will hold a 100% indirect interest
in the secured licences through Congo Re ssources SAU, and the State shall have been issued
that number of common shares in the c apital of AJN equal to sixty percent ( 60%) of the fully
diluted issued and outstanding common shares of AJN at closing. On closing, the board of AJN
will consist of a total of five directors, two of whom will be State-appointed directors. Closing of
the Transaction will be subject to certain condit ions preced ent including the complet ion of
satisfactory du e d iligence by AJN and AJN having obtained all nece ssary governmental and
regulatory approvals and confirmation f rom all relevant government ag encies that all
outstanding legal charges, royalties, and taxes have been paid.
AJN’s executive management team, Klaus Eckhof and Mark Gasson , have individually or jointly
had several exploration successes in the DRC which included : the discover ies of Kibali Gold
Mine (“Kibali”); the highest-grade tin deposit at Bisie (“Bisie”); and one of the world’s largest
lithium deposit s at M anono (“Manono”). Kibali and B isie are presently successful mining
operations, and Manono is awaiting the approval of its mining licence. The team was also ab le
to successfully secure all funding to advance these projects throughout the exploration phase.
Mr. Klaus Eckhof, CEO and President of AJN comment ed, “We are extremely pleased at
receiving the f inal endorsement of the tr ansaction betw een AJN and the G overnment of DRC
which confirms support fr om the top Minis terial and Governmental structures in the DRC. All
Governmental officials are now fully aware of the potential benefit that the tra nsaction w ith
AJN will bring to the State and regions which host th e permits and in particular the ability of
AJN’s highly successful management team to raise finances and develop new projects which will
be transferred to Congo Ressources at a later stage. The Company is confident that the selected
licences will include a number of quality gold and lithium projects with excellent potential for
the discovery of new mineral resources . We look forward to rec eiving formal notification of the
final projects which have been selected for the inclusion in the transaction between AJN and the
State through Congo Ressources.
About AJN Resources Inc.
AJN is a junior exploration company. AJN’s management and directors possess over 75 years of
collective in dustry experience and have been very successfu l in the areas of exploration,
financing and developing major mines throughout the world, with a focus o n Africa, especially
the Democratic Republic of the Congo.
For further information, please contact Investor Relations:
Sheena Eckhof
Director, Investor Relations
Visit us at www.ajnresources.com
Tel: +44 7496 291547
On Behalf of the Board of Directors
Klaus Eckhof
CEO and President
QP Statement
Dr Deon Vermaa k is a Consultant of AJN Resources Inc. and qualified geologist, and is a
registered Professional Natural Scientist (Geological Science) with the South African Co uncil for
Natural Scientific Professions (SACNASP Reg. No. 400020/00) and a member of the Geolo gical
Society o f S outh Africa. Dr Vermaak is a qualified person (QP) unde r NI 43 -101 and has
reviewed and approved the scientific and technical information contained in this news release.
Cautionary Note Regarding Forward-Looking Statements
The informati on in this news release may inclu de certain information and statements ab out
management’s view of future eve nts, expectations, plans and pros pects that may con stitute
forward-looking statements. Forward-looking statements are based upon assumptions that ar e
subject to si gnificant risks an d uncertainties. Because of these risks and uncertainties and as a
result o f a variety of factors, the actua l r esults, expecta tions, achievemen ts or performance
may differ m aterially from tho se anticipated and indicated by these forward -looking
statements. Although AJN Resourc es In c. believes th at the ex pectations reflected in fo rward-
looking s tatements are reas onable, it can giv e no assurances t hat the expectatio ns of any
forward-looking statements will prove to be correct. Except as requ ired by law, AJN Resources
Inc. disclaims any intention and assumes no obligation to update o r revise any forward-looking
statements to reflect actual results, w hether as a result of new info rmation, future ev ents,
changes in assumptions, changes in factors af fecting such f orward-looking statem ents or
otherwise.