• AJN Resources moves deeper into African gold with deal for 55% of DRC’s Giro project
  
  
• Acquisition adds Kebigada and Douze Match deposits as gold prices hit record highs
  
  
• Transaction requires approvals, with AJN considering rebrand to “Giro Gold Corporation”

AJN Resources Inc has signed a non-binding memorandum of understanding to acquire a 55 percent interest in the Giro gold project in the Democratic Republic of Congo. The Canadian junior announced the agreement in a statement dated Monday, December 8, with its counterparty Amani Consulting Sarl.

The move comes a few months after AJN outlined plans to take a stake in a gold project in Ethiopia, signaling a clear shift toward African gold assets.

Until recently, AJN’s exploration portfolio was focused on two lithium and tantalum permits in the DRC: Manono North-East and Kabunda South. In May, the company took its first step into gold by agreeing to acquire up to 70 percent of the Okote project in Ethiopia. The pivot accelerates with the addition of Giro, a 497 square-kilometer project located near Kibali, the largest gold mine in the DRC.

Under the terms of the deal, AJN plans to issue 250 million common shares to Amani Consulting as consideration. The transaction would bring into AJN’s portfolio two existing deposits, Kebigada and Douze Match. Kebigada hosts an estimated 4.4 million ounces of resources, compared with 84,879 ounces at Douze Match.

AJN’s renewed push into gold comes at a time when the metal is trading at record levels. Gold prices have risen 55 percent since January and stood near 4,200 dollars per ounce on Wednesday, December 10, according to data from Trading Economics. The rally has spurred a wave of acquisitions by junior miners across Africa, alongside larger merger-and-acquisition activity such as Perseus Mining’s ongoing bid for Predictive Discovery in Guinea.

Although AJN recently announced the start of fieldwork at Okote, the Giro deal is still subject to regulatory and shareholder approvals. The company said it is also considering rebranding as “Giro Gold Corporation,” underscoring its strategic shift toward gold exploration and development.

Aurel Sèdjro Houenou