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Friday, July 1, 2022

Jourdan Completes Phase 2 of its 2022 Drilling Program

JOURDAN RESOURCES INC. (TSXV: JOR; OTCQB: JORF, FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce that all of its eighteen (18) drill holes of its 2022 winter drilling campaign have intersected the new spodumene-bearing pegmatite swarm on its Vallée property at a previously underexplored eastern extension, which had not been exposed by the North American Lithium mine to the west of Vallée (see Fig. 1).

Jourdan is pleased to advise that phase 2 of the 2022 drilling has been completed. 18 holes were drilled with a total of 3,629 metres of core. This core is now scheduled to be logged, cut, sampled, and then sent to the assay laboratory for the establishment of lithium contents. The results of the drilling and assaying are expected to be utilized in the already initiated initial resource estimation process.

Since restarting drilling in September 2021, Jourdan has drilled twenty-six drillholes; all 26 have intercepted multiple spodumene-bearing pegmatite dykes.

Jourdan’s Executive Chairman, Dr. Andreas Rompel, stated, “We have successfully completed another phase in our endeavour to enlarge the known deposit size on our Vallée project. We are now keenly awaiting the assay results so that we can start the initial resource estimation process. Of the 47 holes drilled since 2011, we have selected the results from 37 to be used in estimating our first initial resource. We are satisfied that this will be sufficient for an inferred resource. Nevertheless, since more funds are available, we may continue to drill later in 2022 to further expand the known deposit size, taking recommendations of our resource estimator to upgrade the anticipated initial resource into account.”

The now completed drill program was conducted by Forage Hébert from Amos, Quebec, under the supervision of Alex Belo, Géologue Inc. (ABG Exploration) of Laval, Quebec.

Figure 1: The Vallée property is immediately east of the North American Lithium mine. This figure depicts the 2011, 2021 and 2022 completed drillholes. All 26 drillholes since 2021 have intersected the li-bearing, spodumen-rich pegmatite swarm.

Drillhole Description*
VAL22-5-4 5 interceptions of 1 to 3m spodumene bearing pegmatite dyke.
VAL22-5-5 4 interceptions of 1 to 3m spodumene bearing pegmatite dyke.

* Drill core width only, does not represent true width.

Rene Bharti, CEO of Jourdan, stated, “We are very excited that the now complete drill program continued to find new spodumene-bearing intersections in new zones. The success of the drill program, coupled with the work underway to build our initial resource estimate in the coming months, is anticipated to bring us one step closer to achieving our goal of becoming Quebec’s next lithium producer.”

The Company’s now completed diamond drilling program of 3,629m was intended to follow up on the results of a bulk sample collected in 2018 and the fence line drilled in 2011 and 2021 along the western side of the Company’s Vallée property, which borders the North American Lithium mine. As anticipated, the drilling program substantially extended the known deposit at the Company’s Vallée property eastwards. Since February 2022, 18 holes of approximately 200m depth have been drilled, each aimed at the pegmatite swarm identified by the trenching of the bulk sample collected on the Vallée property in 2018. The assay results from the bulk sample revealed high Li2O grades (for more information, please see the Company’s press release dated April 29, 2021, which is available under the Company’s SEDAR profile at www.sedar.com), which have encouraged the Company to continue exploration and exploratory drilling along the strike and depth extents of its Vallée property.

Jourdan has significantly enlarged its database by adding more drillholes since the start of the exploration work in 2011. The 2011 drilling comprised 21 drillholes (4,256m), the 2021 campaign consisted of eight drillholes (1,680m) and with the completed 3,629m in 2022, Jourdan has more than 9,490m (47 holes) of core that the Company intends to use in the future to establish an initial mineral resource estimate.

Qualified Person

The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, P.Geo., an independent consultant that is a “qualified person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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.

For more information:

Rene Bharti, Chief Executive Officer and President
Email: info@jourdaninc.com
Phone: (416) 861-5800
www.jourdaninc.com

Cautionary statements

The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in any target being delineated as a mineral resource.

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 Company’s winter 2022 drill program, including the Company’s plans for and expectations of the core extracted from each drillhole, the Company’s expectation that future drill programs of the Company will continue to extend the known deposit size at its Vallée property, and the ability of the Company to establish an initial mineral resource estimate at its properties, begin production, and 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 actions, 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: 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 materially from those 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.

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