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Aranjin to Extend Term of Outstanding Convertible Debenture

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Ulaanbaatar, Mongolia--(Newsfile Corp. - August 2, 2022) - Aranjin Resources Ltd. (TSXV: ARJN) ("Aranjin" or the "Company") announces that the Company will be extending the maturity date of the $1,814,400 principal amount unsecured convertible debenture (the "Debenture") issued on August 10, 2021, and convertible into common shares of the Company at a price of $0.055 per share. The Debenture was issued pursuant to a private placement which closed on August 10, 2021. The Company proposes to extend the maturity date by one (1) year, and accordingly, the new maturity date for the Debenture will be August 10, 2023.

All other terms and conditions of the Debenture remain unchanged. The Debenture extension is subject to acceptance by the TSX Venture Exchange.

About Aranjin Resources Ltd.

Aranjin Resources is committed to exploring its highly prospective copper and nickel projects in Mongolia. Information about the Company is available on its website, www.aranjinresources.com, or under its profile on SEDAR at www.sedar.com.

Contact Information

Ali Haji, CEO
+ 1 647.871.4571
contact@aranjinresources.com

Neither the TSX, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX and TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132662