AJN Resources Inc. announced that it has completed a reconnaissance mapping and sampling programme on its Kabunda South Project. Key outcomes from the program include: Spodumene within pegmatites visually identified across the full 7km strike extent of the permit. Assay results from sampling expected in August.

Steeply dipping pegmatites mineralized in spodumene were identified over widths of between 50m to 200m over a strike extent of 1.5kms in the northern area of the permit. This area prioritized for follow up pitting and drilling. Follow up pitting is in progress and the Company is aiming to mobilise drill rigs and commence drilling late third quarter /early fourth quarter 2023.

Pitting will also target identification of additional pegmatites under cover in the southern area. Kabunda South Project, PR 15383 (AJN earning 75%) The Kabunda South Project (PR 15383 or the Project) is located roughly 120km southeast of the world class Manono Lithium and Tin Project and the Company's recently acquired PR 15282, both of which lie within the broader pegmatite bearing belt which covers roughly 500km in the eastern Democratic Republic of the Congo (DRC) and is strongly associated with lithium, tin, tungsten, tantalum, niobium and beryllium mineralisation. The Project lies in the Kabunda Pegmatite Corridor, within the Manono Region, Tanganyika Province of the DRC.

The Project is located roughly 500kms north of Lubumbashi and can be accessed by road from Lubumbashi or Manono. The Company has recently completed a reconnaissance mapping and sampling programme at the Project, being the first modern exploration work undertaken in the area. Pegmatites with spodumene have been visually identified over 7km on the project area.

Surface mapping has identified the northern 1.5km to be the most prospective based on extent of exposed pegmatites with visible spodumene at surface. A pitting programme which will identify the true width potential of pegmatites under surficial cover has commenced on traverses. The most significant pegmatite exposures with spodumene mineralisation were identified in the northern 1.5km of the licence area.

The main pegmatite body has intruded granites and is exposed over 200m width at its northern extent and over 50m in the southern portion of the priority target area. Additional, narrower parallel pegmatite veins with spodumene were identified to the west and east of the main pegmatite zone and will be followed up with future exploration. Pitting traverses are currently being excavated and will potentially identify pegmatites which have not been exposed at surface.

A total of 116 samples were collected on the licence in which visible spodumene was identified at 36 locations. Samples will be prepared in Lubumbashi and a representative pulp sample will be sent to ALS Global in Ireland for analysis. Results are expected in early August.

The Company intends to conduct a short drilling programme over the northern priority area within the coming 3 - 4 months when a lower rainfall is expected in the region.