Jourdan Resources & Sayona Mining Enter into Earn-in Arrangement for Vallée Lithium Project Sayona to Acquire a 9.99% Shareholding in Jourdan Resources
TSXV: JOR | OTCQB: JORFF | FRA: 2JR1 1
Jourdan Resources & Sayona Mining Enter into
Earn-in Arrangement for Vallée Lithium Project
Sayona to Acquire a 9.99% Shareholding in Jourdan Resources
November 14, 2022
Highlights
• Earn-in agreement over Jourdan Resources’ Vallée lithium project allows Jourdan to further
expand its exploration towards a potential resource and future mine.
• Sayona to acquire a 9.99% shareholding in Jourdan Resources for C$1.5 million.
• Sayona’s subsidiary, North American Lithium Inc., (“NAL”) has the right to earn up to a 51% stake
in the Vallée lithium project, based on milestones.
• Agreement allows for ore on Vallée to be fast-tracked into the NAL plant for processing.
• Through earn-in and joint venture arrangement, Jourdan & Sayona will work in tandem to advance
the Vallée lithium project as well as the region itself, including an extensive drill & exploration
program for the Vallée lithium project.
• Jourdan intends on swiftly expanding exploration throughout its three projects, the Vallée lithium
project, Baillarge lithium-moly, and Preissac – La Corne Lithium.
• Sayona to appoint nominee to Jourdan’s board of directors.
Toronto (Canada) - JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF; FRA:2JR1) (“ Jourdan”, “Jourdan
Resources”, or the “Company“) is pleased to announce that it has signed an earn -in agreement and joint
venture agreement (the “Agreement”) with Sayona Mining Limited’s (ASX: SYA; OTCQB: SYAXF) (“Sayona”)
subsidiary, North American Lithium Inc., in relation to the Company’s Vallée lithium project. The Company
is also pleased to announce that Sayona’s subsidiary, Sayona Québec Inc. , has entered into an agreement
with the Company to acquire 27,000,000 co mmon shares of the Company (the “ Common Shares ”),
representing approximately 9.9865% of the issued and outstanding Common Shares (on a post -closing
basis), at a price of $0.0556 per Common Share for gross proceeds of $1,501,200 (the “Private Placement”).
The Private Placement is expected to close within two (2) business days. Upon closing of the Private
Placement, Sayona will have the right to nominate one director to the Company’s board of directors. All
securities issued in connection with the Private Placement will be subject to a statutory hold period of four-
months and one day. Completion of the Private Placement is subject to a number of conditions, including
without limitation, receipt of TSX Venture Exchange approval. No finder’s fees will be paid i n connection
with the Private Placement. The Company intends to use the net proceeds of the Private Placement for
working capital and general corporate purposes.
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Rene Bharti, Jourdan’s chief executive officer, commented, “We are tremendously excited to be gin what
we feel will be a long -term partnership with Sayona. Given the incredible progress they have made at the
NAL mine, we anticipate that this partnership will allow Jourdan to advance the exploration and
development of its Vallée lithium project toward production without having to incur many of the associated
costs. Indeed, we understand that Sayona has complete infrastructure in place to begin lithium production
from its NAL properties in Q1 of next year. We are very proud to be working with our neig hbours, and we
look forward to welcoming a top Sayona executive to the Jourdan board in order to further cement our
partnership.”
“We are excited to start a new chapter in the lifecycle of Jourdan Resources by joining forces with Sayona
and neighbouring NAL”, says Dr. Andy Rompel, Exec. Chairman . “We believe that this partnership will be
tremendously beneficial mutually as we anticipate that both parties can contribute significantly to the
advance of exploration and potential resource estimation on our fl agship project, Vallée. We expect that
this partnership will increase the speed of exploration for Jourdan, as well as give us the unique ability to
process our ore through the NAL plant.”
Under the Agreement, NAL has the right to earn up to a 51% stake i n 28 claims within the Vallée project,
which includes pegmatite targets located close to and along strike from NAL’s orebody. This is based on
NAL spending C$4 million within the first year to earn a 25% interest and an additional C$6M within two
years to earn a further 25% interest. NAL also has the right to increase its interest by an additional 1%, to
an aggregate 51% interest, by completing a feasibility study and arranging funding for the construction of
a mine at Vallée.
In connection with the Agreement, Jourdan has transferred 20 claims outright to Sayona to provide for
potential future infrastructure expansion at the NAL mine and its processing facility.
Sayona’s Managing Director, Brett Lynch, stated that the Agreement provided a substantial boost for NAL
and its future production potential. “Sayona continues to review opportunities for expansion and this earn-
in agreement is an excellent opportunity to swiftly expand NAL’s potential resource base, paving the way
for an increase in NAL’s future mine production capacity,” he said.
He continued, “With mineralised spodumene pegmatite dykes previously mined by NAL continuing directly
onto Jourdan’s claims, we are keen to quickly launch new drilling. Significantly, the additional leases
acquired under this agreement will also allow for increased flexibility and optimisation of the NAL mine
design, production and infrastructure.”
DLA Piper (Canada) LLP acted as legal counsel to Jourdan. Desjardins Capital Markets acted as exclusive
financial adviser and McCarthy Tétrault LLP acted as legal counsel to Sayona for the transaction.
Vallée Lithium Project
The Vallée lithium project comprises 48 claims covering 1,997 ha, closely neighbouring the NAL mine tenure
with 20 of the leases located within 500m of the mine tenure boundary. Known pegmatites have been
recorded in past exploration and are orientated along strike from the NAL orebody. Critically, the tenure
secures the prospective granodiorite host and its contact zone, which are important ore controls in the NAL
deposit.
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More broadly within the Jourdan claims, some 14 pegmatite occurrences are recorded in government data,
indicating the high exploration upside for discovery of mineralisation for blending into the NAL operation.
Exploration work, including geochemistry, geophysics and an aggressive drilling program, is being planned
by Sayona. Sayona’s exploration team has already confirmed multiple high potential target areas for drill
testing.
Figure 1: View of NAL mine area and Jourdan’s Vallée claims
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Figure 2: Vallée Project – outcropping pegmatite
Figure 3: Sayona’s Jourdan claims
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Figure 4: Jourdan Chairman Dr. Andy Rompel & Sayona VP Exploration Carl Corriveau
at site in Quebec
The Vallée project is located in Abitibi, Québec, near the township of La Corne. The project is situated within
the heart of the southern portion of the Abitibi Greenstone Belt, some 100 kilometres northeast of the
mining towns of Rouyn -Noranda, 45 kilometres north of Val -d’Or, 50 kilometres north east of Malartic
(home to the Canadian-Malartic Mine), 30 kilometres southeast of Amos and contiguous and in proximity
to RB Energy’s Quebec Lithium Property and adjacent to the NAL mine. The mineralised spodumene
pegmatite dykes that NAL has mined continue directly onto the claims of Jourdan.
The Vallée lithium project’s claim block is geologically located on the northeast edge of the Preissac‐Lacorne
batholite and east of the edge of the late pluto of La Corne. The intrusive rocks of the dioritic to earl y
granodioritic suite largely make up its geology targeted by drilling. However, the upper part of the block
contains volcanic rocks of felsic to mafic composition of the Aurora Group.
Qualified Person
The scientific and technical information contained herein has been reviewed and approved by Alexandr
Beloborodov, P.Geo., an independent consultant who is a “qualified person” as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
For more information:
Rene Bharti, Chief Executive Officer and President
Email: [email protected]
Phone: (416) 861-5800
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www.jourdaninc.com
About Sayona Mining
Sayona Mining Limited is an emerging lithium producer (ASX:SYA; OTCQB:SYAXF), with projects in
Québec, Canada and Western Australia.
In Québec, Sayona’s assets comprise North American Lithium together with the Authier Lithium Project
and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium
developer Piedmont Lithium Inc. (Nasdaq:PLL; ASX:PLL). The Company also holds a 60% stake in the
Moblan Lithium Project in northern Québec.
In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective
for gold and lithium. Sayona is exploring for Hemi-style gold targets in the world-class Pilbara region,
while its lithium projects are subject to an earn-in agreement with Morella Corporation (ASX:1MC).
For more information, please visit us at www.sayonamining.com.au
About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol “JOR”
on the TSX Venture Exchange and “2JR1” on the Stuttgart Stock Exchange. The Company is focused on the
acquisition, exploration, production, and development of mining properties. The Company’s properties are
in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne Batholith, around
North American Lithium’s producing Quebec Lithium Mine.
Cautionary statements
The Company cautions that it is not basing any production decisions on a feasibility study of mineral reserves demonstrating
economic and technical viability at the Vallée lithium project, and as a result there is increased uncertainty and there are multiple
technical and economic risks of failure which are associated with any such production decision. These risks, among others, include
areas that are analysed in more detail in a feasibility study, such as applying economic analysis to resources and reserves a nd a
number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community
impacts.
This press release contains “forward -looking information” within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, statements with respect to the Agreement, the Private Placement and
the closing thereof, the advancement of the exploration and development of the Vallée lithium project toward production, and
the ability of the Company to establish a preliminary mineral resource estimate at its properties, bec ome a lithium producer, and
to execute its business plan. Generally, forward -looking information can be identified by the use of forward -looking terminology
such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain act ions,
events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity,
performance or achievements of Jourdan to be materially different from those expressed or implied by such forward-looking
information, including but not limited to: risks that the transactions contemplated in Agreement will not be completed as
anticipated, or at all; risks that the Private Placement will not be completed as anticipated, or at all; risks that the Company will not
be able to advance the exploration and development of the Vallée lithium project toward production as contemplated, or at all ;
receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices
and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although Jourdan has
attempted to identify important factors that could cause actual results to differ materially from those 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 mat erially from those
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anticipated in such statements. Accordingly, readers should not place undue reliance on forward -looking information. Jourdan
does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER 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.