Vancouver, British Columbia--(Newsfile Corp. - July 3, 2024) - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (AJN or the Company) is pleased to announce that the Company's recent drilling program has intersected a highly weathered, 80 to 100m wide pegmatitic zone in granite on its Manono Northeast Project (PR 15282) that is clearly identified in two diamond drill holes completed on Line 4800N as shown in Figure 1. Spodumene and minor lepidolite mineralisation were identified in each of the diamond drill holes. The pegmatitic zone is flat dipping to the southeast and exposed over a minimum of 300m at surface as interpreted from reverse circulation (RC) drilling shown in section in Figure 2. Both diamond drill holes were stopped at the intersection of an interpreted intrusive sill, which was also intersected in the RC drill holes on lines 2800N and 4800N. It is likely that the sill intruded at a later stage within or at the base of the pegmatitic zone, the former suggesting broader widths of pegmatite can be expected below the intrusive. The drilling programme has been stopped and will recommence once all drill results have been received, which will guide the infill drilling programme going forward.

Figure 1: Drill hole location map showing RAB, RC and Diamond Hole Collars and the continuation of the Manono Pegmatites onto the Manono Northeast Project.

CEO and President Klaus Eckhof commented: "We are extremely excited that our drilling has uncovered a significant pegmatitic zone on the same trend as the high-grade lithium resources at Manono on our Manono Northeast Project. The zone lies in a similar geological setting to the Manono pegmatites being close to the granite contact and flat dipping to the southeast. We are further encouraged by the apparent occurrence of spodumene, which we expect will be confirmed via deeper drilling below the weathered zone and from assay results. The drilling has now brought us to the end of our due diligence phase and once all results have been reported, the Company expects that it will be in a good position to commit to the project and proceed to earn its initial 60% project interest."

Fifteen RC drill holes were completed for 982m, two diamond drill holes for 282m and 83 rotary air blast (RAB) drill holes for 1,313m. The RC and diamond drill holes were designed to follow up on prospective areas identified in the RAB drilling, interpreted to coincide with the continuation of the Manono pegmatites onto PR 15282. The Company's RC and diamond drilling work has tested 2km of potential extension of these pegmatites at two different locations. Only quartz with grain sizes varying from medium to blocky was recovered within in the RC drilling programme and is interpreted to represent the pegmatite zone, which is highly weathered in the upper 50 - 60m zone and is shown in section in Figure 2. The Company expects that the extent of mineralised pegmatites will be better defined from reported assay results when received. Granites were clearly identified at shallow levels when present in both the RC and RAB drilling.

Figure 2: Section across Line 4800N showing the extent of Pegmatites and the Interpreted Intrusion on the Manono Northeast Project.

Spodumene was identified within the weathered drill core as shown in Figure 3. The property's true lithium potential is expected to be realised in future drilling, which will target fresh, unweathered pegmatites at deeper levels.

Figure 3: Highly weathered Spodumene Minerals identified in the drill Core.

One RC hole, KLRC015, which was drilled under alluvial artisanal workings on line 1000N (Figure 1), intersected 25m of massive quartz from surface. Results from grab samples collected from the workings reported lithium grades of up to 0.04% lithium and up to 0.18% tin in highly weathered pegmatite boulders. The assay results and abundance of quartz in the drill chips suggest a second pegmatite zone potentially exists within granites to the east of the interpreted continuation of the main Manono pegmatites.

All samples are currently being prepared and will be submitted to COAL laboratories in Lubumbashi for sample preparation with a 100g sample to be sent to ALS Global in Ireland for analysis. Assay results are due within the next 4-6 weeks.

The Company intends to plan additional work programmes on its Manono Northeast Project, which has similar hallmarks to the Manono lithium occurrences. A future deeper drilling programme is required to intersect potential fresh pegmatite at depth.

QP Statement

Mr Stephen Alan Mawson is a consultant of AJN Resources Inc. and a qualified geologist. Mr Mawson is a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03) and a member of the Geological Society of South Africa. Mr Mawson is a qualified person (QP) under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.

About AJN Resources Inc.

AJN is a junior exploration company. AJN's management and directors possess over 75 years of collective industry experience and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa, especially the Democratic Republic of the Congo.

For further information, please contact Investor Relations:

Sheena Eckhof
Director, Investor Relations
sheena@eckhofconsulting.com
Visit us at
Tel: +44 7496 291547

On Behalf of the Board of Directors
Klaus Eckhof
CEO and President
klauseckhof@monaco.mc

Cautionary Note Regarding Forward-Looking Statements

The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although AJN Resources Inc. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, AJN Resources Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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