Ulaanbaatar, February 24, 2021 - Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin") is pleased to announce the commencement of drilling program at its Bayan Undur ("BU") project.
Over $10m worth of historical drilling and associated analysis at the BU project has now been reviewed. As a result of this analysis, the Company plans to start with one deep hole at a highly targeted area of the BU project in April 2021. The BU project is located in the Bayan Undur soum of Bayankhongor province. The Company owns a 100% interest in the BU project which consists of 4 mining licenses.
The ongoing restrictions related to the COVID-19 have delayed progress on license acquisition but the Company expects to have an active exploration program in 2021. We expect to have an update on the pending acquisition of the Baruun Tal project in H1 2021.
Executive Chairman of Aranjin Resources Ltd., Matthew Wood commented, "We are very excited to announce the commencement of the Spring drilling program at our BU project in Mongolia. We also continue to review several highly prospective licenses as we look to build our copper exploration portfolio in Mongolia."
Resignation of Director
The Company announces that Mr. Gizman Abbas has resigned as a director of the Company. The Company wishes to thank Mr. Abbas for his strong contributions and wise counsel throughout the years.
On behalf of the Board
Aranjin Resources Ltd.
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