AJN Resources Inc. Announces Results of 2023 Shareholders' Meeting and Grant of Stock Options

Vancouver, December 17, 2023 - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) ("AJN" or the "Company") is pleased to announce the voting results from its 2023 annual general and special meeting of shareholders, which was held on December 11, 2023. All resolutions presented to shareholders were approved. The number of directors was set at four, and Klaus Eckhof, Mark Gasson, Sheena Eckhof and Lap Kiu Jacky Chan were re-elected to AJN's board of directors. Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, was re-appointed as auditor of the Company. Klaus Eckhof continues as the Company's CEO & President and Mark Gasson continues as the Company's CFO and Corporate Secretary.

Shareholders approved the Company's new omnibus equity incentive compensation plan (the "Omnibus Plan") which provides for the grant of stock options, restricted share units, deferred share units and performance units. The Omnibus Plan replaces the Company's stock option plan which only provided for the grant of stock options. The Omnibus Plan is in the form of (a) a rolling plan reserving for issuance upon the exercise of Options granted pursuant to the Omnibus Plan a maximum of 15% of the issued and outstanding shares of the Company at the date of the grant and (b) a fixed plan under which the number of shares of the Company that are issuable pursuant to all awards other than Options granted under the Omnibus Plan and under any other security based compensation arrangement of the Company, in aggregate, is a maximum of 6,300,000 shares.

The Company also announces that it has granted an aggregate of 3,550,000 incentive stock options ("Options") to certain of its directors, officers and consultants in accordance with AJN's Omnibus Plan. These Options have a three-year term and an exercise price of $0.35 per common share, and vest immediately.

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 www.ajnresources.com
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.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191339