Jazz Announces Assembly of Its 800 Tonne PER Day Gravimetric Mill ON the Vila NOVA GOLD Project
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JAZZ RESOURCES INC.
April 27, 2022 TSXV: JZR
JAZZ ANNOUNCES ASSEMBLY OF ITS 800 TONNE PER DAY GRAVIMETRIC MILL
ON THE VILA NOVA GOLD PROJECT, AMAPA STATE, BRAZIL
Vancouver, British Columbia, Canada – Jazz Resources Inc. (the “Company” or “JZR”) is pleased to announce that
assembly of the 800 tonne per day bulk sampling gravimetric mill (the “Mill”) on the Vila Nova gold property in Amapa,
Brazil (the “Property”) has been completed. Brastorno Tecnologia em Equipamentos Para Mineracao (“Brastorno”),
a Brazilian manufacturer of mineral exploration and mining equipment, was retained in 2021 to design, manufacture and
assemble the Mill on the Property. It is anticipated that the Mill will be powered up with e lectricity and water and
Brastorno will undertake start-up and testing procedures in May 2022 before the Mill will become operational.
The Company, together with the operator of the project on the Property, ECO Mining Oil & Gaz Drilling and Exploration
EIRELI (“ECO”), and all technical consultants and other personnel on the Property, are working diligently to bring the
Mill into operation . The Company is focused on commencing bulk sampling as soon as possible, with a vi ew to
generating revenue from its royalty interest in the Property, pursuant to the terms of the Joint Venture Royalty Agreement
with ECO.
The technical informa tion in this news rel ease has been prepared in accordance with National Instrument 43 -101
Standards of Disclosure for M ineral Projects (“NI 43-101”), and reviewed and approved by Dr. Stewart A. Jackson,
PGeo., a “Qualified Person” under NI 43-101 and independent of the Company. The Company does not report any
resources or reserves on the Property, and has not prepared a preliminary economic assessment for the purposes of
proceeding with any bulk sampling on the Property.
The Company also announces that 2,909,000 share purchase warrants issued in 2021, with an exercise price of $0.35 per
share, were exercised in March. As a result, the Company issued an aggregate of 2,909,000 common shares and received
gross proceeds of $1,018,150. The Company has used, and intends to use, the net proceeds received from the exercise
of warrants to further develop the Vila Nova gold project and for general working capital purposes.
For further information, please contact:
Robert Klenk
Chief Executive Officer
Forward-Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future. Forward-looking statements in this news release include statements with respect to
the expected use of proceeds derived from the exercise of Warrants, the anticipated start-up of the Mill and the planned commencement of bulk
sampling on the Property . Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and othe r factors that
may cause the actual results, level of activity, performance or achievements of the Company to be materially different from t hose expressed or
implied by such forward -looking statements. Risks that could change or prevent these statements f rom coming to fruition include, but are not
limited to, that we may not succeed in bringing the Mill into operation and that the Mill may not operate as anticipated, or at all; that any minerals
which may exist on our Property may not be economically mined or processed, if at all; that we or ECO may not be able to obtain the necessary
permits related to the Mill or the Property to enable us to explore for , or mine or process minerals; that we may not be able to raise additional or
sufficient funds that may be necessary to develop our Property or bring the Mill into operation and to continue its operation; the availability, or lack
thereof, of labour, equipment and markets for our products; and general business, economic, competitive, geopolitical and social uncertainties and
regulatory risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from th ose
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 statements. The forward-looking statements contained
in this news release is expressly qualified in its entirety by this cautionary stateme nt. The Company does not undertake to update any forward -
looking statements, except as required by applicable securities laws.
Neither the 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 press release.
None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state
securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or “U.S.
persons” (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration
requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any
sale of the securities in any State in which such offer, solicitation or sale would be unlawful.