AJN Resources Inc. Announces Private Placement Offering and Proposed Debt Settlement

Vancouver, British Columbia--(Newsfile Corp. - July 16, 2024) - AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (AJN or the Company) is pleased to announce a non-brokered private placement offering of units (each, a Unit) in the capital of the Company at a price of $0.10 per Unit, for anticipated gross proceeds of at least $500,000 (the Offering). Each Unit will consist of one common share and one share purchase warrant (Warrant), where each Warrant will entitle the holder to purchase one additional common share (Warrant Share) at an exercise price of $0.15 per Warrant Share for a four year period.

In addition, the Company is proposing to settle certain indebtedness through the issuance of Units at a deemed price of $0.10 per Unit (the Debt Settlement Transaction).

AJN intends to use the net proceeds from the Offering for exploration on the Company's properties and for working capital purposes. A finder's fee may be payable with respect to a portion of the Offering. The securities issued and issuable pursuant to the Offering and the Debt Settlement Transaction will be subject to a four month and one day statutory hold period. The issuance of the Units will not result in a change of control or materially affect control of the Company.

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.

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.

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