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.
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 persuing 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
For Jourdan Resources
Director, Jourdan Resources
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 other 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, satisfaction 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 material 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 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 forwardlooking information for a variety of reasons, including 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 “forwardlooking 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.