MONTREAL, CANADA--(Marketwire - Jan. 27, 2010) - Jourdan Resources Inc. (TSX VENTURE:JRN) ("JOURDAN" or the "Company") is pleased to announce the acquisition of the Pivert-East Property (the "Property") in the Eastmain Greenstone Belt (NTS Map-Sheet 33C/01) within the James Bay Mining District of Quebec, located due south of the community of La Grande (Quebec).
The Property was purchased from an arm's length party (the "Vendor") for a cash payment of $8,000; 1.5 million common shares of JOURDAN; and minimum $500,000 in exploration expenditures over an 18 month period. The Vendor retains a 2% Net Smelter Returns (the "NSR") Royalty of which half can be purchased by JOURDAN for $1 million. Registration of the claims by the Quebec government is still pending, but should be confirmed shortly. The Company shall pay a finder's fee to arm's length third parties in connection with this proposed properties acquisition in accordance with TSX Venture Exchange Policies.
The Property consists of 37 claims for 1,924 hectares or 19.2 km2 and is located 2 km northeast of, and along strike, to the Pivert/Rose Property held by First Gold Exploration Inc. (TSX VENTURE:EFG) (refer to the First Gold Exploration Inc., news releases dated January 21 and 25, 2010) where sampling showed significant quantities of the Rare Metals Lithium, Rubidium, Tantalum, Beryllium, Niobium and Gallium. Surface grab sampling from the Pivert/Rose Property yielded 4.6% Li2O, 390 g/t Rubidium, 1.4 g/t Tantalum, 67.7 g/t Niobium, 106.5 g/t Gallium, 90 g/t Beryllium (#430917); with an additional 4.74 m (true width) drill hole intersection yielding 1.03% Li2O, 2,923 g/t Rubidium, greater than 100 g/t Tantalum, 54.24 g/t Niobium and 128 g/t Beryllium (LR-09-02).
Boisvert (1989) describes the region as containing pegmatites occurring as irregular but generally continuous lenses within the biotite schists. Individual pegmatites can attain up to 60 m in width and more than 100 m in length, collectively forming part of a much larger bodies having kilometric lengths and widths up to 300 m. Additional work by the Ministère des ressources naturelles et de la faune Québec uncovered a number of Lithium showings in the region with a similar metallogenic context to that of the Cyr Lithium Property (owned by Lithium One Inc.) and the Pivert/Rose Property, where irregular but generally continuous spodumene (a lithium bearing aluminum silicate) bearing pegmatites. Historical work on Cyr Lithium Project has demonstrated significant Lithium potential, identifying a resource potential* of 12 million tonnes (45,000 m2 by 100 m deep) grading 1.7% Li2O (www.lithium1.com).
A resource potential estimate should not be relied on and is not considered National Instrument ("NI") 43-101 compliant. A Qualified Person has not reviewed and evaluated the resource potential to outline NI 43-101 Mineral Resources. It is uncertain that any future exploration and development work will result in any of the resource potential to be considered as NI 43-101 Mineral Resources. A resource potential estimate should only be considered as an indication of mineralization.
About Jourdan Resources Inc.
Jourdan Resources Inc. is a Canadian junior mining exploration company trading under the symbol JRN on the TSX Venture Exchange. The Company is focused on the acquisition, exploration, production, development and if, as the case may be, the operation of mining properties in strategic Uranium and Rare Metals or High Technology Metals ("HTM's") sectors of eastern Canada. The Company's properties are currently at the exploration stage along the Lower North Shore, the Mauricie and now the James Bay regions of Quebec.
The technical information in this news release was approved by Mr. Jean Lafleur, M. Sc., P. Geo., Technical Advisor to the President and CEO of JOURDAN, and a Qualified Person under NI 43-101 regulations.
Please visit the Company's website at www.jourdan.ca, and you can also download Jourdan's Corporate Summary at www.jourdan.ca/jrn.pdf.
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.