JIULIAN RESOURCES INC. RECEIVES FINAL TSXV APPROVAL FOR QUALIFYING TRANSACTION
August 25, 2009 – Jiulian Resources Inc. (the °∞Company°±) (TSXV: JLR.P) is pleased to announce that TSX Venture Exchange has accepted for filing the Company°Øs Qualifying Transaction described in its Filing Statement dated July 28, 2009. As a result, at the opening on Wednesday August 26, 2009, the Company will no longer be considered a Capital Pool Company and will resume trading as a Tier 2 mining company under the symbol JLR.
Pursuant to an option agreement (the °∞QT Agreement°±), with Happy Creek Minerals Ltd. (the °∞Vendor°±) the Company has an option agreement to acquire up to a 65% interest, in the Hawk Project located in the south-central Cariboo region of British Columbia from the Vendor, subject to an existing 2.5% NSR on the Hawk Property and an existing 2% NSR on the Grey Option.
Consideration for an initial 55% interest consists of cash payments of $150,000, issuing an aggregate of 700,000 shares to Happy Creek and incurring aggregate exploration expenditures on the Hawk Project of $700,000 over a period of three years.
The Company has the exclusive option right to acquire an additional 10% interest in the Hawk Project by incurring additional exploration expenditures of $500,000 on the project on or before August 25, 2013.
Pursuant to the QT Agreement, the Company paid cash $15,000 and issued 100,000 common shares to the Vendor. on August 25, 2009. The securities are subject to a hold period expiring December 26, 2009.
No new insiders are created as a result of this transaction and there is no finder’s fee payable with respect to the QT Agreement.
For further information, please contact:
X. Charlie Cheng, Chief Executive Officer and Director of JLR at 604-639-4418 or by email:
office@jlr-inc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“X. Charlie Cheng”
X. Charlie Cheng, Chief Executive Officer, Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
