Dajin Resources Corp. Closes Share Purchase Agreement and Financing with LSC Lithium Inc.
Vancouver, October 27, 2016 - Dajin Resources Corp. ("Dajin") (TSX-V: DJI) (OTC: DJIFF) (Frankfurt: A1XF20) is pleased to report that Dajin has completed a share purchase agreement with Lithium S Holdings Corporation ("Lithium S") a wholly owned subsidiary of LSC Lithium Inc. ("LSC"), whereby Lithium S has been granted the right to earn a 51% interest in Dajin Resources S.A. Lithium S will earn a 51% interest in Dajin Resources S.A. by making a payment of $1.0M in cash (which has been paid) and expending a total of $2.0M on concessions held by Dajin Resources S.A.
LSC has also completed a non-brokered private placement financing of units (the "Units") with Dajin for net proceeds of $500,000 at a price of $0.18 per Unit. Each Unit is comprised of one common share of Dajin and one share purchase warrant of Dajin exercisable into one common share at $0.25 expiring two years from the date of issuance. These securities have a 4 month hold period expiring February 26, 2017.
LSC is a minerals exploration company working with the Enirgi Group Corporation. Together, they are focused on the development of lithium brines in Argentina. LSC was co-founded by Stephen Dattels and Michael Beck, who are well known mining financiers having developed many successful mining projects internationally.
About Dajin: (www.dajin.ca)
Dajin is an early stage energy metals exploration company holding a 100% interest in 294 placer claims known to contain Lithium and Boron values in the Teels Marsh region of Mineral County, Nevada. These claims, which cover 5,853 acres (2,369 hectares), are adjacent to the birth place of US Borax Corp's first borax mine. Dajin also holds 191 placer claims covering 3,851 acres (1,558 hectares) in the Alkali Lake region of Esmeralda County, Nevada. Dajin has entered into an option agreement with Nevada Energy Metals Inc. (TSX-V:BFF) to explore these claims located 7 miles (12 kilometers) northeast of Albemarle's Rockwood's Clayton Valley Lithium operations.
Dajin, through its wholly owned Argentinian subsidiary, Dajin Resources, S.A., effective with this agreement, holds a 49% interest in concessions or concession applications in Jujuy Province, Argentina that were acquired in regions known to contain brines with Potassium, Lithium and Boron values. These concessions exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes/Guayatayoc salt lakes basin.
DAJIN RESOURCES CORP.
Brian Findlay, President & CEO
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