Mr. Klaus Eckhof reports

AJN COMPLETES WARRANT EXERCISE INCENTIVE PROGRAM AND INTENTION TO CLOSE $3,000,000 PRIVATE PLACEMENT

Pursuant to AJN Resources Inc.'s previously announced warrant exercise incentive program, certain warrantholders exercised a total of 3.45 million warrants at 10 cents per share for gross proceeds to the company totalling $345,000. Upon exercise of the 3.45 million warrants, the company issued a total of 3.45 million common shares and 3.45 million incentive warrants. Each incentive warrant entitles the holder to purchase an additional common share of the company, on or before Oct. 31, 2029, at an exercise price of 30 cents per common share.

The company will be using the proceeds from the exercise of the warrants for technical and legal due diligence in connection with possible property acquisitions, for exploration on the company's properties, and for general working capital purposes.

All warrants that were not exercised under the warrant exercise incentive program will remain outstanding and continue to be exercisable for common shares of the company on their current terms.

Participation in the warrant exercise incentive program by three directors of the company, including the issuance of common shares and incentive warrants to the three directors, constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the common shares and incentive warrants issued to the insiders does not exceed 25 per cent of the market capitalization of the company as determined in accordance with MI 61-101. The company's board of directors reviewed and approved the issuance of the common shares and incentive warrants to the insiders. The company did not file a material change report in respect of the related party transaction at least 21 days before closing of the warrant exercise incentive program as participation by insiders was not known at that time.

The incentive warrants, and any incentive warrant shares issued upon the exercise thereof, are subject to a four-month hold period from the date of issuance in accordance with Canadian securities laws and the policies of the Canadian Securities Exchange.

The company also announces its intention to close a non-brokered private placement of units in the capital of the company at a price of 10 cents per unit. The company intends to issue a total of 30 million units at a price of 10 cents per unit for gross proceeds of $3-million. Each unit will comprise one common share and one share purchase warrant, where each warrant will entitle the holder to purchase one additional common share at an exercise price of 15 cents per warrant share for a two-year period.

The company also announces that Mark Gasson has resigned as a director and will be continuing as corporate secretary of the company. The company thanks Mr. Gasson for all his contributions during his term as a director.

About AJN Resources Inc.

AJN is a junior exploration company. AJN's management and directors possess over 75 years of collective industry experience, and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa.

We seek Safe Harbor.