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October 13, 2022 – TheNewswire - Vancouver, British Columbia,Canada – Jazz Resources Inc. (the “ Company ” or “ JZR ”) ( TSXV:JZR ) is pleased to announce that it has been advised by ECOMining Oil & Gaz Drilling and Exploration EIRELI (“ ECO ”), its jointventure royalty agreement counterparty and the operator of the VilaNova Gold Project located in Amapa State, Brazil (the “ Vila Nova Project ”)that it has completed the 800 tonne per day bulk sampling gravimetricmill (the “ Mill ”) located at the Vila Nova Project, and that testing ofthe Mill has commenced. The Mill was designed, manufactured andassembled by Brastorno Tecnologia em Equipamentos Para Mineracao(“ Brastorno ”), a Brazilian manufacturer of mineral exploration andmining equipment.
The Company has also been advised that the Mill, andthe tailings management facility located on the Vila Nova Project,have received final environmental approvals and all requisite permitsfrom the applicable regulatory authorities in Brazil. ECO hascommenced testing of the Mill and it isanticipated that bulk sampling will commence following satisfactorycompletion thereof.
Robert Klenk, Chairmanand CEO of JZR commented, “The fulfillment of all permitting conditions and commencement oftesting of the Brastorno mill is the culmination of substantial workby the Eco Mining and Brastorno teams. We believe the Vila Nova Gold Project is afoundational project that will provide continued growth for theCompany and ECO ”
The Company anticipates that the Mill will process 800tonnes of tailings and bedrock per day once it is brought up to fullproduction, which is anticipated to occur within 30 days from the datehereof.
The technical information in this news release has beenprepared in accordance with National Instrument 43-101 Standards of Disclosure for MineralProjects (“ NI 43-101 ”), andreviewed and approved by Dr. Stewart A. Jackson, PGeo., a “QualifiedPerson” under NI 43-101 and independent of the Company. TheCompany does not report any resources or reserves on the Vila NovaProject, and has not prepared a preliminary economic assessment forthe purposes of proceeding with any bulk sampling on the Vila NovaProject.
For further information, please contact:
Robert Klenk
Chief Executive Officer
rob@jazzresources.ca
Forward-Looking Statements
This news release contains forward-looking statements,which includes any information about activities, events ordevelopments that the Company believes, expects or anticipates will ormay occur in the future. Forward-looking statements in this newsrelease include statements with respect to the anticipatedcommencement of operations of the Mill, the planned commencement ofbulk sampling and the quantities expected to be processed. Forward-looking statements are subject to a variety of known andunknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of theCompany to be materially different from those expressed or implied bysuch forward-looking statements. Risks that could change or preventthese statements from coming to fruition include, but are not limitedto, that ECO may not succeed in bringing the Mill into operation andthat the Mill may not operate as anticipated, or at all; that anyminerals which may exist on the property comprising the Vila NovaProject may not be economically mined or processed, if at all; that weor ECO may not be able to obtain the necessary permits, or anyadditional permits, related to the Mill or the Vila Nova Project toenable ECO to explore for, or mine or process minerals; that we maynot be able to raise additional or sufficient funds that may benecessary to develop the Vila Nova Project or bring the Mill into fulloperation and to continue its operation; the availability, or lackthereof, of labour, equipment and markets for our products; andgeneral business, economic, competitive, geopolitical and socialuncertainties and regulatory risks. Although the Company hasattempted to identify important factors that could cause actualresults to differ materially from those contained in forward-lookinginformation, there may be other factors that cause results not to beas anticipated, estimated or intended. There can be no assurancethat such information will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements. The forward-looking statements containedin this news release is expressly qualified in its entirety by thiscautionary statement. The Company does not undertake to update anyforward-looking statements, except as required by applicablesecurities laws.
Neither the TSXVenture Exchange nor its regulation services provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this pressrelease.
None of thesecurities of JZR have been registered under the U.S. Securities Actof 1933, as amended (the “U.S. Securities Act”), or any statesecurities law, and may not be offered or sold in the United States orto, or for the account or benefit of, persons in the United States or“U.S. persons” (as such term is defined in Regulation S under theU.S. Securities Act) absent registration or an exemption from suchregistration requirements. This news release shall not constitute anoffer to sell or the solicitation of an offer to buy in the UnitedStates nor shall there be any sale of the securities in any State inwhich such offer, solicitation or sale would be unlawful.
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