Jourdan Options 100% of Jazz Phosphate Property Adjacent to Arianne Resources' Advanced Stage Paul Lake Project
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* The 50 claim Jazz Phosphate Property is contiguous to Arianne Resources' advanced stage phosphate project which has a NPV of $649 million and an IRR of 19.2%
Montreal, Quebec CANADA, January 17, 2012 /FSC/ - Jourdan Resources Inc. (JOR - TSX Venture)("JOURDAN" or the "Company") (www.jourdan.ca) is pleased to announce that it has optioned the 50 claim Jazz Phosphate Property located approximately 200km north of the town of Saguenay in the Saguenay-Lac-St-Jean region in the Province of Quebec, Canada.
On the adjacent Paul Lake Advanced Stage Phosphate Project, Arianne Resources Inc. recently released the results of the Prefeasibility Study for open-pit mining operations at the Paul and Manouane Zones. The Study projects an Annual Production rate of 2 million tonnes of 39% P2O5 apatite concentrate, with a low strip ratio of 0.83:1, a 25-year mine life at an average selling price of $175/t, with a forecast NPV of $649 million and an Internal Rate of Return (IRR) of 19.2%.
To acquire 100% of the property, Jourdan will pay the sum of $10,000 and issue 812,500 shares within 5 days of the TSX Venture Exchange's ("TSXV") approval and pay an additional $275,000, which additional amount is payable, at the election of the Company, in cash, shares, or a combination of cash and shares. If the Company elects to satisfy the additional amount in part through the issuance of shares, the issue price of such shares would be based on the volume-weighted average closing price per common share for the 10 trading days immediately preceding the fifth trading day before the date of the payment, subject to a minimum of $0.06. Jourdan must also spend $500,000 in exploration expenditures on the property over the next 24 months. There is a potential additional payment on positive preliminary economic assessment ("PEA") if a PEA on the property demonstrates an internal rate of return ("IRR") of 18% or greater. The payment on positive PEA is not a necessary condition for Jourdan to acquire a 100% interest in the Jazz Phosphate Property, and such payment is only applicable if the IRR of the PEA is 18% or greater.
Completion of the acquisition remains subject to TSXV approval. The securities of the Company to be issued on the acquisition will be subject to a four month hold period.
The following map shows the location of the Jazz Phosphate Property relative to Arianne Resources' Paul Lake Project and JOURDAN's Dissimieux Lake Phosphate Project:
www.jourdan.ca/20120117-Jazz-map-for-PR.pdf
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 www.jourdan.ca
For further information please contact:
Michael Dehn
President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
michael@jourdan.ca
Guy Girard,
VP Finance
Tel: (514) 798-1290
Fax: (514) 787-1457
info@jourdan.ca
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 statements.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/jourdan01172012.htm
Source: Jourdan Resources Inc. (TSXV: JOR) http://www.jourdan.ca
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