Fairmont Grants Right of First Refusal to Jourdan ON Rome Lithium Property Adjacent to Na Lithium MINE
NEWS RELEASE
FAIRMONT GRANTS RIGHT OF FIRST REFUSAL TO JOURDAN ON
ROME LITHIUM PROPERTY ADJACENT TO NA LITHIUM MINE
Mississauga (Canada), June 29, 2017: JOURDAN RESOURCES INC. (TSX -V NEX:
JOR.H) ("Jourdan") and FAIRMONT RESOURCES INC (TSX -V: FMR) ("Fairmont") are
pleased to announce that they have entered into a non arm’s length letter agreement (the
“Agreement”), pursuant to which Fairmont granted to Jourdan a right of first refusal (the
“ROFR”) to acquire a 100% interest in the Rome Lithium Property (the "Property"), which
is adjacent to North American Lithium's Quebec Lithium Mine near Val d'Or, Quebec.
Map 1. Locati on of the Fairmont Resources Rome property (yellow) on map showing
Jourdan Resources and North American Lithium Properties. Scale Bar in Kilometres. Link
to larger version of map: https://goo.gl/Sd354v
RESOURCES
RESSOURCES
In consideration for the ROFR, which entitles Jourdan to match any offer that Fairmont
solicits from a third party for the Property until July 22, 2017, Jourdan made a refundable
cash payment of $25,000 to Fairmont (the “ ROFR Payment ”). In the event that Jourdan
chooses not to exercise its ROFR, Fairmont will reimburse the ROFR Payment to Jourdan.
Should Fairmont fail to refund the ROFR Payment, Fairmont will transfer to Jourdan its
option to acquire a 100% interest in the Property in consideration of: (i) a $25,000 cash
payment, (ii) 1,500,000 common shares of Jourdan, and (iii) a 2% net smelter return
("NSR") on the Property, of which half (1%) may be bought back for $1,000,000 at any
time (the “Option”).
About Jourdan Resources
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under
the symbol JOR.H on the TSX Venture NEX Exchange. The Company is focused on the
acquisition, exploration, production, and development of mining properties in lithium.
Please visit the Company’s website at www.jourdanresources.com
About Fairmont Resources Inc.
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone
company trading on the Toronto Venture Exchange symbol FMR.
Fairmont's Quebec properties cover numerous occurrences of high -grade titaniferous
magnetite with vanadium, with the Buttercup property having a permit to quarry dense
aggregate. Where these occurrences have been tested they have display exceptional
uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties,
with the Forestville property having independent end user testing confirming the suitability
of quartzite from Forestville for Ferro Silicon production. Fairmont is also persu ing the
acquisition of the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23
quarries and a 40,000 square metre granite finishing facility that has produced finished
granite installed across Europe.
Please visit the Company’s websites at www.fairmontresources.ca
For further information please contact:
For Fairmont Resources
Doren Quinton,
President QIS Capital
Te1:250-377-1182
www.smallcaps.ca
For Jourdan Resources
Harvey McKenzie
Director, Jourdan
Resources
Tel: 416-400-8003
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including any information as to our
strategy, projects, plans or future financial or operating performance and other statements
that express management's expectations or estimates of future performance, ma y
constitute forward-looking information (collectively "forward-looking information") within the
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concerning matters that are not historical facts and include, but are not limited to, resource
estimates, capital and operating expend itures, economic conditions, availability of
sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all
other timing, development, operational, financial, economic, legal, regulatory and/or
political factors that may inf luence future events or conditions. Such forward -looking
statements are based on a number of material factors and assumptions, including, but not
limited to, access to capital markets and other sources of financing and associated cost of
funds, final recei pt of any required approvals, sufficient working capital for development
and operations, access to adequate services and supplies, availability of markets for
products, commodity prices, foreign currency exchange rates, interest rates, availability of
a qualified work force, availability of manufacturing equipment, no material changes to the
tax and regulatory regime, the ultimate ability to execute business plans on economically
favourable terms and those material factors and assumptions disclosed in other public
filings of the Company.
While we consider these assumptions to be reasonable based on information currently
available to us, they may prove to be incorrect. Actual results may vary from such forward -
looking information for a variety of reasons, i ncluding but not limited to, risks and
uncertainties disclosed in other public Company filings, changes in general economic,
market and business conditions, competition for, among other things, capital and skilled
personnel, and other unforeseen events or circumstances, that may cause the actual
financial results, performance or achievements of the Company to be materially different
from estimated future results, performance or achievements expressed or implied by the
forward-looking statements. Copies of the Company's public filings under applicable
Canadian securities laws are available at www.sedar.com. The Company further cautions
that information contained on, or accessible through, this website is current only as of the
date of filing such information and may be superseded by subsequent events or filings.
Other than as required by law, the Company does not intend, and undertakes no
obligation, to update any forward looking information to reflect, among other things, new
information or future events.
Although the Company believes many of its properties have promising potential, its
properties are in the early stages of exploration. None have yet been shown to contain
proven or probable mineral reserves. There can be no assurance that such reserves will
be identified on any property, or that, if identified, any mineralization may be economically
extracted.
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 release. Statements in this release that are not historic facts
are “forward-looking statements” and readers are cautioned that any such statements are
not guarantees of future performance, and that actua l developments or results, may vary
materially from those in these “forward-looking statement.