Jourdan Signs LOI on High Grade Iron and Titanium Claims with Phoenix Metals

Phoenix will test the iron and titanium for suitability as a raw material for use as a hydraulic fracturing proppant and concentrate

Toronto (Canada) (FSCwire) - Jourdan Resources Inc. (TSX-V: JOR) (“JOURDAN” or the “Company”) (www.jourdan.ca) is pleased to announce it has executed a binding letter of intent (the "LOI"), pursuant to which the Company has granted an option (the "Option") to acquire a cumulative 100% interest in high grade titanium and iron on 23 claims within the Dissimieux Lake Project (the “Property”) to Phoenix Metals Inc. (the “Optionee”). The Property is located 140 kilometres northwest of Baie-Comeau and 130 kilometres north of Forestville, Que., along the upper north shore of the St. Lawrence River.

The Optionee will have a period of 180 days (the “Due Diligence Period”) after receipt of regulatory approval to carry out due diligence procedures relating to the Property. The due diligence will test the mineralization from the Property for its suitability as a raw material sources for hydraulic fracturing proppants. The Optionee will also test the suitability of the iron mineralization for concentrate.

Phoenix is focused on the acquisition and development of raw material sources for hydraulic fracturing proppants.

The Optionee has the exclusive option to acquire a 100% interest in the high grade titanium and iron in the Property (the “Option”) by: (i) paying to the Company $5,000 in cash upon the earlier of the execution of the Definitive Agreement and completion of the Due Diligence Period; (ii) issuing to the Company 2.3 million common shares on or before the expiry of the Due Diligence Period; and (iii) issuing to the Company another 2.3 million common shares upon commencement of production from the Property, all subject to TSX Venture Exchange approval.

The Optionee shall be responsible for keeping the Property in good standing including the filing of required assessment work and completing regulatory work expenditures or making cash payments in lieu of work 180 days before required under the rules of the jurisdiction.

The Property shall be subject to a 50 kilometre area of interest (the “AOI”) with the exception of existing claims held by the Company in the AOI. The Company will be the party designate for any further staking of claims in the AOI and will offer the titanium and iron interest in all potential titanium and iron prospects in the area to the Company which will have 90 days to conduct due diligence on the additional claims and can acquire these additional claims under the terms of the Agreement between the parties by refunding staking costs and issuing a further 100,000 common shares per claim.

The Company will have full access and ownership to the designated phosphate claims in the AOI while the Optionee will have full access and ownership to the designated high grade titanium and iron zones on the claims within the AOI and a reasonable area for mining activities. The Company will be the Operator on the Property until the commencement of development and will receive a 5% administrative fee for this service relative to the Property. The Property will be subject to a 4% gross royalty in favour of the Company.

Map 1: Jourdan Resources’ Dissimieux Lake Phosphate Property with Phoenix Metals Options
http://jourdan.ca/pdf/20140716MAP1.pdf


About Phoenix Metals

Phoenix Metals’ focus is on raw materials in the Medium and High-strength categories. Phoenix Metals is currently working to acquire assets to serve the developed North American market and further assets that are proximal to large underdeveloped oil and gas resources that require hydraulic fracking proppants. The priority is on raw materials assets with known quantity and strong logistics and/or infrastructure.


About Jourdan Resources

Jourdan Resources Inc. is a Canadian junior mining exploration company focused on phosphate. We continually strive to maximize shareholder value by targeting the highest quality phosphate projects with a professional and highly experienced management team. Our approach combines creativity, experience, and technical expertise with tenacity and determination to advance existing projects while always being prepared to take advantage of new opportunities that can add value for our shareholders. We are committed to conducting ourselves in an open, professional, and responsible manner, while always remaining available to all shareholders. Our goal is to become the dominant phosphate miner in North America.

Please visit the Company’s website at www.jourdan.ca



For further information please contact:

Jourdan Resources Inc.
Michael Dehn, President and CEO
Tel: (647) 477-2382
Fax: (647) 477-2389
michael@jourdan.ca

Glen Wylie, CPA, CMA, CFO, Jourdan Resources Inc.
Tel: (647) 477-3758
Fax: (647) 477-2389
glen@jourdan.ca



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Certain statements contained in this news release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, may constitute forward-looking information (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited to, resource estimates, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to, access to capital markets and other sources of financing and associated cost of funds, final receipt of any required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime, the ultimate ability to execute business plans on economically favourable terms and those material factors and assumptions disclosed in other public filings of Jourdan Resources.

While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to, risks and uncertainties disclosed in other public Jourdan Resources filings, changes in general economic, market and business conditions, competition for, among other things, capital and skilled personnel, and other unforeseen events or circumstances, that may cause the actual financial results, performance or achievements of the Company to be materially different from estimated future results, performance or achievements expressed or implied by the forward-looking statements. Copies of the Company's public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings. Other than as required by law, Jourdan Resources does not intend, and undertakes no obligation, to update any forward looking information to reflect, among other things, new information or future events.