AJN Resources Inc. Decides Not to Proceed with Proposed Acquisition of Kibali Interest
Vancouver, March 1, 2020 - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) ("AJN") announces that as a result of its due diligence and further information received, it will not proceed with its proposed acquisition of SOKIMO's 10% free carried interest in the Kibali Gold Mine, as announced in AJN's news release of February 6, 2020.
AJN continues to progress with its due diligence on the other projects listed in its February 6, 2020 press release. The gold licence numbers and equity interests to be secured include:
| Project Name | Licence Number ("PE" Permis Exploitation) | Interest |
| Zani-Kodo | 5077, 5078, 5079, 5081 | 30% |
| Giro Goldfields | 5046, 5049 | 35% (free carried) |
| Wanga (Tendao) | 5045, 5050, 5054, 5056, 5069, 13062 | 35% (free carried) |
| Nizi | 5109, 5110 | 30% (free carried) |
| Kibali South | 13176 | 30% (free carried) |
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 from exploration, to financing, to developing major mines throughout the world with a focus on Africa and especially the Democratic Republic of The Congo DRC.
For further information, please contact Investor Relations:
Sheena Eckhof
Director, Investor Relations
sheena@eckhofconsulting.com
Visit us at www.ajnresources.com
TEL: (778) 218-9638
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52994