JOR Jourdan Resources Inc

JOURDAN RESOURCES INC. (TSXV: JOR; FRA:2JR1) (“Jourdan” or the “Company“) is pleased to announce that it has closed its non-brokered private placement financing of common shares of the Company issued on a flow-through basis (each, a “Flow-Through Share”) and units (each, a “Unit”) for gross proceeds of $2,161,000 (collectively, the “Offering”). For more information about the Offering, please see the Company’s press releases dated June 29, 2022 and July 21, 2022, which are available under the Company’s profile on SEDAR at www.sedar.com.

Pursuant to the Offering, Jourdan issued (i) 9,512,500 Units at a price of $0.08 per Unit and (ii) 14,000,000 Flow-Through Shares at a price of $0.10 per Flow-Through Share. Each Unit consists of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.10 until July 29, 2024.

All securities issued in connection with the Offering are subject to a statutory hold period expiring on November 30, 2022. Completion of the Offering is subject to receipt of final approval of the TSX Venture Exchange (“TSXV”).

In connection with the Offering, Jourdan paid finder’s fees of $81,000 in cash and issued 810,000 non-transferable finder’s warrants (“Finder’s Warrants”) to Roche Securities Ltd. in accordance with TSXV policies. Each Finder’s Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.10 at any time prior to July 29, 2024. The Company intends to use the net proceeds from the issuance of the Units and the Flow-Through Shares for working capital and general corporate purposes and to fund exploration expenditures on its Vallee, Preissac-La Corne, and Baillargé lithium mining properties.

Insiders of the Company subscribed for Units and Flow-Through Shares pursuant to the Offering (the “Insider Participation”). The Insider Participation is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Insider Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Company did not file a material change report more than 21 days before closing the Offering as the details of the abovementioned Insider Participation were not settled until shortly prior to closing, and the Company wished to close the Offering on an expedited basis.

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 PresidentEmail: info@jourdaninc.comPhone: (416) 861-5800www.jourdaninc.com

Cautionary statements

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 Offering, including the Company’s intended use of net proceeds. 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 prices of minerals; 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.