Jourdan Options and Acquires Properties Adjacent to Quebec Lithium MINE
NEWS RELEASE
JOURDAN OPTIONS AND ACQUIRES PROPERTIES ADJACENT TO
QUEBEC LITHIUM MINE
Mississauga (Canada), May 9, 2017: JOURDAN RESOURCES INC. (TSX -V NEX:
JOR.H) ("Jourdan" or the " Company") is pleased to announce that it has negotiated (i)
an option agreement with Alix Resources Inc. (TSX-V: AIX) (“Alix”) to acquire up to a 75%
interest in Alix’s 145 claim Preissac-Lacorne Lithium Portfolio (the “ Alix Option”), and (ii)
two acquisition agreements with prospectors to acquire 100% interest in two claims i n
close proximity to the Quebec Lithium Mine(the “ GiGi Claims”), and two additional claims
(the “JF Claims”), one of which holds the mineral rights below the Quebec Lithium Mine’s
mill (the “ Quebec Lithium Acquisitions ” and with the Alix Option, collective ly the
“Transactions”).
Michael Dehn, CEO of Jourdan states: "These agreements are part of Jourdan's focus on
acquiring and developing assets in the lithium rich area that has been established by
North American Lithium and its predecessors. It is our thesi s that there will be increased
interest in the area once the Quebec Lithium mine commences production."
The Properties Description
Map 1. Jourdan Property Holdings in the La Corne Area (link to map : http://goo.gl/8mxVAh)
RESOURCES
RESSOURCES
Preissac Lacorne Lithium Portfolio
Highlights of properties comprised in the Preissac-Lacorne Lithium Portfolio:
• The International Lithium Project is located in the Figuery Township (NTS 32D08).
Mineralization consists of spodumene -rich sub-horizontal, irregular dykes. Drilling carried
out by International Lithium Corp. in the 1950's, delineated a 3.7 -m thick, 119 x 104 m
area providing an historical resource estimate of 135,000t @ 0.95 wt. % Li2O (Source: RP
446; MERQ)*.
• The La Corne 2 property i s located in the La Motte Township (NTS 32D08). Granitic
pegmatites dykes, 0.60 to 1.20 m thick, reveal 15 to 30% spodumene accompanied of
beryl. Diamond drilling generated key assays of 1.65 wt. % Li2O on 1.0 m and 1.12 wt. %
Li2O on 1.32 m, respectively (Source : GM 03089;MERQ).
• The La Corne 3 is also situated in the La Motte Township (NTS 32D8). The
mineralization is contained within two granitic pegmatite dykes (182 -259 m long x 2 -3 m
thick), rich in spodumene (Li) with accessory tantalite (Ta) and Beryl (Be). The dykes were
investigated by 27 DDH by Ascot Metals in 1955. Dyke #1 yielded Li2O assays of 1.45 wt.
% Li2O (n=15), whereas, Dyke #2 produced 0.57% Li2O (n=4). Historical resource
estimates were 75,000t @1.45 wt. % Li2O (Source: RG160; MERQ)*.
The Preissac -Lacorne Lithium Portfolio is composed of 145 claims covering 6,292 ha
situated within the La Motte, La Corne, Preissac, Figuery and Landrienne townships,
containing numerous lithium spodumene -bearing granitic pegmatite occurrences,
showings and prospects of historic significance. Exploration on the properties has been
previously undertaken by leading lithium exploration companies such as; American
Lithium Corporation, International Lithium Mining Corp., Duval Lithium, QLC (formerly
Lithium Exploration Company Limited), and Quebec Lithium.
In September of 2016, Alix made a new discovery on the Quebec Lithium Western Lithium
Project. The Quebec Lithium West Lithium Project is contiguous to the western boundary
of North America n Lithium's Quebec Li thium Mine property located in the La Corne
Township (NTS 32C05). North America n Lithium's Quebec Lithium Mine reported
measured and indicated resources of 29.3 Mt grading 1.19% Li2O and 20.9 Mt of inferred
resources grading 1.15% Li2O, respectively (sourc e: NI43-101 Technical Report filed by
Canada Lithium, on SEDAR, June 8, 2011).
Highlights of the JF Property include two historical diamond drill holes carried out in 1953,
one on each of the claims, with both holes reporting medium to coarse grained
spodumene. (Source: GM 02688-B)
Jourdan expects to complete a 1,500 meter drilling program on a series of targets on this
discovery pursuant to the Alix Option.
Additional prospecting will also be undertaken on the GiGi Claims, JF Claims, the recently
acquired La Corne Property Package (please refer to the Company’s press release dated
May 1, 2017) and applications for drilling on the Baillarge Lithium Molybdenum and Vallee
Lithium properties are expected to be submitted in the coming week.
Terms of the Transactions
Jourdan has an option to earn a 75% interest in the Preissac -Lacorne Lithium Portfolio
pursuant to the Alix Option, by completing staged payments of cash and shares totalling
$125,000, and 1,200,000 Jourdan common shares (each a “ Share”) over a two year term,
as follows: $50,000 and 600,000 shares on or before May 15, 2017; and $75,000 and
600,000 shares on or before the second anniversary date of the Alix Option agreement.
In order to acquire a 100% in the GiGi Property and the JF Property, Jourdan m ust,
respectively, make a cash payment of $15,000, and a cash payment of $15,000 and issue
100,000 shares on or before May 15, 2017. In addition, Jourdan will grant to the vendors
of the JF Property a 2.0% net smelter returns royalty (" NSR") on the claims, of which
Jourdan can, at any time, acquire one-half of the NSR for $250,000.
The Shares issuable in connection with the Transactions will be subject to a statutory four
month and one day hold period. Closing of the Quebec Lithium Acquisition and initial
payment under the Alix Option are anticipated to be on or about May 15, 2017, and are
subject to the approval of the TSX Venture Exchange NEX Board.
Yves Caron, M.,Sc, P. Geo, and Qualified Person as defined by NI 43-101, has reviewed
and approved the technical information in this press release.
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
For further information please contact:
Michael Dehn
President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
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, may
constitute forward-looking information (collectively "forward-looking information") within the
meaning of Canadian securities laws. Forward -looking information may be identified by
terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "projects", "predict", "potential", "continue" or o ther similar
expressions concerning matters that are not historical facts and include, but are not
limited to, resource estimates, capital and operating expenditures, economic conditions,
availability of sufficient financing, receipt of approvals, satisfac tion of closing conditions
and any and all other timing, development, operational, financial, economic, legal,
regulatory and/or political factors that may influence future events or conditions. Such
forward-looking statements are based on a number of mate rial factors and assumptions,
including, but not limited to, access to capital markets and other sources of financing and
associated cost of funds, final receipt of any required approvals, sufficient working capital
for development and operations, access t o 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 Jourdan Resources.
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, including but not limited to, risks and
uncertainties disclosed in other public Jourdan Reso urces 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 achiev ements 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 availab le 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, Jourdan Resources 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 ma y 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 thi s 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 actual developments or results, may vary
materially from those in these “forward-looking statement.