Aranjin Resources Completes Private Placement

Aranjin Resources Completes Private

Placement

Ulaanbaatar, Mongolia--(Newsfile Corp. - July 21, 2023) - Aranjin Resources Ltd. (TSXV: ARJN) (the

"Company" or "Aranjin") announces that it has completed its previously announced non-brokered private

placement of 53,782,668 units of the Company ("Units") at a price of $0.02 per Unit, for aggregate gross

proceeds of approximately $1,075,653 (the "Offering"). Each Unit consists of one common share of the

Company (a "Share") and one common share purchase warrant (a "Warrant").

Each Warrant will be exercisable for one Share at a price of $0.05 per Share for a period of 24 months

from the closing of the Offering, provided that in the event that the daily volume weighted average closing

price of the Shares on the TSX Venture Exchange (the "TSXV") or a recognized Canadian stock

exchange equals or exceeds $0.10 for a period of 20 consecutive trading days, the Company may

accelerate the expiry date of the Warrants by issuing a press release announcing the reduced Warrant

term and in such case, the Warrants will expire on the 30th calendar day after the date such press

release is issued.

The proceeds from the Offering will be used for exploration and development on the Company's mining

projects and for general corporate purposes.

All the securities issued under the Offering will be subject to a four month hold period expiring November

21, 2023. The Offering remains subject to the final acceptance of the TSXV. In connection with the

Offering, the Company paid cash finder's fees of $52,539.

Matthew Wood, Chairman of Aranjin Resources Ltd., commented, "We are delighted with the strong

investor support for our private placement and we look forward to an active summer of exploration at our

copper projects."

In connection with the Offering, a related party to the Company has agreed to acquire an aggregate

10,000,000 Units, for gross proceeds of $200,000. The acquisition of the Units will be considered a

"related party transaction" pursuant to Multilateral Instrument 61-101-

Protection of Minority Security

Holders in Special Transactions

("MI 61-101") requiring the Company, in the absence of exemptions, to

obtain a formal valuation for, and minority shareholder approval of, the "related party transaction". The

Company is relying on an exemption from the formal valuation requirements of MI 61-101 available

because no securities of the Company are listed on specified markets, including the TSX, the New York

Stock Exchange, the American Stock Exchange, the NASDAQ or any stock exchange outside of

Canada and the United States other than the Alternative Investment Market of the London Stock

Exchange or the PLUS markets operated by PLUS Markets Group plc. The Company is also relying on

the exemption from minority shareholder approval requirements set out in MI 61-101 as the fair market

value of the participation in the Offering by the insiders does not exceed 25% of the market capitalization

of the Company, as determined in accordance with MI 61-101. The Company did not file a material

change report in respect of the related party transaction at least 21 days before the closing of the

Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of

the proceeds of the Offering in an expeditious manner.

About Aranjin Resources Ltd.

Aranjin is committed to exploring its highly prospective copper and nickel projects in Mongolia.

Information about the Company is available on its website,

www.aranjinresources.com

, or under its

profile on SEDAR at

www.sedar.com

.

On behalf of the Board

Matthew Wood

Chairman

Aranjin Resources Ltd.

+1.647.981.1703

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under

applicable securities legislation and rules. Such statements include, but are not limited to, use of

proceeds from the Offering, future plans, objectives or goals, including words to the effect that the

Company or management expects a stated condition or result to occur. Forward-looking statements are

based on the opinions and estimates of management as of the date such statements are made and are

subject to known and unknown risks, uncertainties and other factors that may cause the actual results,

level of activity, performance or achievements Aranjin to be materially different from those expressed or

implied by such forward-looking statements, including the final acceptance or rejection of the Offering by

regulators; fluctuations in international commodity prices, particularly of nickel and copper; and other

corporate opportunities which the Company may encounter. Although management of Aranjin has

attempted to identify important factors that could cause actual results to differ materially from those

contained in forward-looking statements, there may be other factors that cause results not to be as

anticipated, estimated or intended. There can be no assurance that such statements will prove to be

accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Aranjin

will not update any forward-looking statements or forward-looking information that are incorporated by

reference herein, except as required by applicable securities laws. The parties caution readers not to

place undue reliance on these forward-looking statements and it does not undertake any obligation to

revise and disseminate forward-looking statements to reflect events or circumstances after the date

hereof, or to reflect the occurrence of or non-occurrence of any events.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION

IN THE UNITED STATES.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/174362