Jourdan Resources Inc.

Jourdan Resources Inc.

October 20, 2006 16:05 ET

Jourdan to Option Uranium Play from 48th North Capital and Sediamek

VAL-D'OR, QUEBEC--(CCNMatthews - Oct. 20, 2006) - Jourdan Ressources inc. (TSX VENTURE:JRN) ("Jourdan") is pleased to announce that it has entered into an option agreement with 48th North Capital and Sediamek inc. whereby Jourdan can earn up to a 100% interest in the Square Lake and Kessik properties located approximately 130 kilometres south of Rouyn-Noranda, and 100 kilometres northwest of North Bay along the Quebec-Ontario border, halfway between the Elliot Lake uranium camp and the Abitibi gold belt camp, within the Grenville Front. The project is accessible via logging roads.

The properties are located in the magnetic halo of the alkaline Kipawa Intrusive Complex.

Under the agreement, Jourdan has agreed, subject to regulatory approval, to pay to the vendors $50,000 in cash, issue 900,000 common shares and incur $100,000 in exploration work over one year in order to earn an undivided 75% interest in both properties. Jourdan can earn an additional 25% interest in the Square Lake property by paying to 48th North Capital an additional $50,000 and issuing an additional 300,000 common shares. Jourdan can also earn an additional 25% interest in the Kessik property by paying to Sediamek inc. an additional $50,000 and issuing an additional 300,000 common shares. The securities to be issued pursuant to the agreement shall be subject to a four month hold period.

"Jourdan's growth strategy has always been to acquire large prospective land positions, in favourable geological settings, close to infrastructure. We are convinced that this Kipawa project acquisition will quickly provide us promising results." said Michel Cote, President and CEO of Jourdan. "Aurizon Mines did very interesting discoveries in the area this year" adds Michel Cote.

The Kipawa project has been initiated based upon one of several possible geological concepts, the most attractive concept being possible similarities between certain characteristics of the project area and the world class gold producing Witwatersrand region of South Africa.

Some of the similarities include the gold-uranium mineral association in Precambrian siliceous sediments (quartz conglomerates at Witwatersrand and quartzite, a large basinal structure at Witwatersrand and a basin or fold structure at Kipawa bassin), similar mineral assemblages and ore zone characteristics.

Jourdan intends to initiate work on the land package utilizing both on site and remote detection exploration methods.

The TSX Venture Exchange neither approved nor disapproved this press release and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Jourdan Ressources inc.
    Marc Labrecque
    Secretary and Director