AJN Resources Inc. announced that it has entered into a binding term sheet (Term Sheet) with Future Mining Company SARL (Future), for an option to acquire up to a 70% indirect interest in exploration permit PR 14537 located in the Manono Territory, Tanganyika Province of the DRC. The town of Manono, located about 20km via dirt road from PR 14537, is roughly 500km north of Lubumbashi and can be accessed by road from Lubumbashi or by a one-and-a-half-hour flight. Exploration permit PR 14537 borders the Company's recently optioned PR 15282 exploration property to the west and potentially covers 4km of a second pegmatite interpreted to crosscut the central licence area.

Although PR 14537 is under extensive soil cover, a second zone of pegmatites is interpreted to branch from the Manono pegmatites having a more northerly trend. The interpreted pegmatites to the east are interpreted to parallel the granite contact on PR 15282. The Manono pegmatites lie within a broader pegmatite bearing belt which covers roughly 500km within the mid-Proterozoic Kibaran litholgies in the eastern DRC.

The belt is strongly associated with lithium, tin, tungsten, tantalum, niobium and beryllium mineralisation and was exploited historically for tin up to early 1980's at Manono. AVZ Minerals Limited has defined a measured, indicated and inferred mineral resource totaling 401M tonnes at 1.65% Li2O as reported in their ASX announcement dated 24 May 2021 at their Roche Dure Prospect located within the Kitolo pegmatites shown in Figure 1. AJN has the right to acquire a 60% indirect interest by paying an additional USD 1,000,000 to Future and by issuing 7,000,000 common shares in the capital of AJN to Future. After AJN has acquired a 60% indirect interest in PR 14537, AJN can acquire a further 10% direct interest in PR 14537 (for a total 70% indirect interest) by paying an additional USD 5,000,000 to Future.

AJN will be responsible for funding exploration of PR 14537 to conclusion of a definitive feasibility study, which funding is to be treated as a loan. At completion of the definitive feasibility study and should AJN wish to continue, each party will contribute on a pro-rata basis or dilute according to an industry standard formula. AJN will arrange all project finance which will be recovered as a priority from production.