Aranjin Resources Announces Board Changes as ASX Plans Move Forward

Ulaanbaatar, January 22, 2024 - Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin Resources") announces that it has reduced its Board to three directors as it moves forward with its previously announced plans to list on the ASX.

Bataa Tumur-Ochir and Jeremy South will step down from the Board with immediate effect. Jeremy South will remain as Chief Financial Officer and has been appointed Corporate Secretary of the Company after the resignation of Solongo Gunsendorj effective immediately. Solongo Gunsendorj will remain as a director of the Company.

As announced on January 8, 2024, the Company's acquisition of an 80% interest in the Bangemall, Gawler and the Western Wood copper projects in Australia (the "Australian Transaction") has closed in escrow, with final closing subject to the completion of customary transaction conditions and receipt of final TSXV approval for the Australian Transaction.

Mr. Matthew Wood, Executive Chairman of Aranjin Resources stated, "With the process for dual listing on the ASX already underway, we have taken this opportunity to trim our Board. We are excited about our exploration plans for 2024 which is shaping up to be an exciting year of transformational growth for Aranjin and its shareholders."

On behalf of the Board
Matthew Wood
Chairman
+976 7732 1914

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.

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to listing on the ASX, final approval of the TSXV for the Australian Transaction and exploration plans for 2024. Forward-Looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aranjin Resources to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: (i) any inability of Aranjin Resources to satisfy conditions imposed by the TSX Venture Exchange on the Australian Transaction for any other reason; and (ii) any change in the circumstances of the Company, whether internal or external, whether affecting the Company particularly, the Australian Projects particularly, or the general mineral and/or general global markets, which could cause the Company to reconsider and adjust or abandon any exploration work it currently intends for the Australian Projects, or (iii) any factors inhibiting the Company from listing its shares on the ASX. Although management of Aranjin Resources has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. No party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195120