Jourdan Announces Closing of First Tranche of Private Placement

Jourdan Announces Closing of First Tranche of Private Placement

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Val d'Or, Quebec CANADA, October 22, 2012 /FSC/ - Jourdan Resources Inc. (JOR - TSX Venture)("Jourdan" or the "Company") (www.jourdan.ca),is pleased to announce that it closed the first tranches (collectively the "First Tranche") of the private placement previously announced in its press releases of September 11, 2012. The Company has raised gross proceeds of $152,750 from the sale of 3,055,000 units (the "Units") at $0.05 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one-half of one share purchase warrant (each whole, being a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share for a period of 12 month at an exercise price of $0.10 per share.

All securities issued in connection with this financing will be subject to a four-month hold period. The private placement is subject to final approval by the TSX Venture Exchange.

Under the terms of an agreement with Burgeonvest Bick Securities Limited ("Burgeonvest"), $7,200 cash and 144,000 Compensation Units were issued to Burgeonvest as a finder's fee in connection with a portion of the sums raised.

Each Compensation Option will entitle its holder to purchase one compensation unit of the Company (a "Compensation Unit") at a price of $0.05 per Compensation Unit.  Each Compensation Unit shall be comprised of one common share of the Company and one half of one non transferable common share purchase warrant, each whole warrant entitling its holder to purchase one additional common share of the Corporation at a price of $0.10 for a period of 12 months from the exercise date of the Compensation Option.

The net proceeds from the private placement will be used for working capital, advancing exploration on Quebec phosphate properties and acquisitions.

"This financing comes at an exciting time for Jourdan.  Continuing to move forward on key initiatives both locally and globally, such as our recently announced commodities broker and trading partnership, is an ongoing priority for us, and we look forward to sharing further news about these developments as we move ahead," states Jourdan CEO Michael Dehn.

It is expected that another tranche will be completed in the near future. Accredited investors interested in participating are asked to contact the company at the email and telephone numbers shown below.

About Jourdan Resources

Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JOR on the TSX Venture Exchange. The Company is focused on the acquisition, exploration, production, and development of mining properties in phosphates. The Company's properties are currently at the exploration stage and are located along the North Shore, the Mauricie, the Abitibi and James Bay regions of Quebec.

Please visit the Company's website at http://www.jourdan.ca

For further information please contact:

Michael Dehn
President and CEO
Tel: (647) 477-2382  
Fax: (647) 477-2389
michael@jourdan.ca

Glen Wylie, CMA
CFO
Tel: (647) 477-3758
Fax: (647) 477-2389
glen@jourdan.ca

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 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 Resources 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, 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 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 "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.

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http://www.fscwire.com/pr/jourdanoct222012.htm


Source: Jourdan Resources Inc. (TSXV: JOR)  http://www.jourdan.ca
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