Jiulian Resources Reports 2020 Annual General Meeting Results, Election of New Directors and Announces Proposed Name Change

TheNewswire – November 10, 2020 – JIULIAN RESOURCES INC. (TSXV:JLR) (OTC:JLRRF) ("Jiulian" or the "Company") is pleased to welcome Mr. Bruce Higson-Smith and Mr. Antenor Silva to the Board of Directors of the Company. Mr. Higson-Smith will serve as Chairman of the Board.

The Company is also announcing the results of its annual general meeting of shareholders held November 10, 2020.

Board of Directors

Bruce Higson-Smith, with nearly 40 years’ experience, is a mining engineer who holds a B.Sc. (Min.Eng.) Honours, ARSM, from the Royal School of Mines, Imperial College London in 1982 and an M.B.A. from Baruch College, City University of New York in 1992. Mr. Higson-Smith has extensive experience in the capital markets, having served in senior management positions for 9 years in Denver CO, having worked with Castle Group, Emerging Markets Gold Fund and Resource Capital Funds. Before retiring, Mr. Higson-Smith was Chief Financial Officer of Castle Exploration and Senior VP of Corporate Strategy for Golden Star Resources Ltd. from 2003 to 2019. Mr. Higson-Smith is currently a strategic advisor to the board of directors of Federation Mining LTD.

Mr. Antenor Silva is a mine engineer with over 50 years’ experience in metallurgical plants engineering and operation, open pit and underground mines, in several multi-national and public companies. Mr. Silva started his professional career at Serrana de Mineracao in 1966. In 1971, Mr. Silva was a co-founder of Paulo Abib Eng. acting as President and COO. By 1986 as CEO of CMP/CMA, one of the first Brazilian gold companies listed at the BOVESPA stock market. Mr. Silva was a co-founder of Yamana Gold, where he served as COO and President for over 10 years. Mr. Silva is currently retired and serves as a board member on South Atlantic Gold and Amarillo Gold Corp.

Douglas Meirelles, President and CEO, stated, "I am very pleased to have both Bruce Higson-Smith and Antenor Silva join our Board. The depth and breadth of experience from these two highly respected men will add greatly to our team. I want to thank Dr. Charlie Cheng and Terese Gieselman for their generous dedication to our Board. Ms. Gieselman will remain as our CFO & Corporate Secretary."

Results of Annual General Meeting

The shareholders of the Company approved all matters as set forth in the Company’s Notice of Meeting and Information Circular, dated October 14 2020, by the required majority of votes cast at the annual general meeting including:

  • – Acceptance of the 2020 audited financial statements of the Company;

    – Approval to set the number of directors for the ensuing year at six;

    – Election of all nominees to the Board of Directors of the Company including Bruce Higson-Smith, Douglas Meirelles, Marc Leduc, Antenor Silva, Nanmao Su and Oliver Friesen;

    – Approval of the appointment of Smythe LLP as auditors of the Company until the next annual general meeting of shareholders;

    – Approval of the rolling stock option plan; and

    – Disinterested Shareholder Approval of the rolling option grant.

Proposed Corporate Name Change to South Atlantic Gold Inc.

The Company is proposing to change the corporate name to South Atlantic Gold Inc., subject to regulatory approval. The Company intends to primarily invest its resources in our Pedra Branca project as we move this project forward with our current drilling program (press release dated October 22, 2020). Additionally, we will be conducting business development activities in Brazil to broaden our land position for greater geographical diversity. The change of the name of the Company to South Atlantic Gold will better reflect our ongoing and increased presence in Brazil as a major sphere of our work.

Corporate

The Company is further pleased to advise that Anne Hite will be joining the Company to serve as Vice President of Investor Relations. Ms. Hite has over 20 years of experience in IR for mineral exploration and mining companies. She has been employed by a number of mid-tier and junior exploration companies in various investor relations positions. She also worked for a money management firm and written both commissioned and independent research reports. She has worked with Golden Star Resources, Rare Element Resources, Luna Gold, Sandspring Resources (Gold X Mining), Pershing Gold (Americas Gold and Silver) and others. Ms. Hite holds a B.Sc. degree in geophysics and an MBA.

Stock Option Grant

The Company has granted an aggregate of 3,755,000 stock options at $0.14 per share over a five year period to certain directors, officers, and consultants pursuant to the Company’s stock option plan. The options have certain vesting periods that include:

  • – 3,505,000 shall vest a third (1/3) immediately on date of grant with a 1/3 12 months from the date of grant and final balance 24 months from the date of grant; and

    – 250,000 options shall vest 4 months from date of grant.

About Jiulian

Jiulian is an exploration company engaged in acquiring and advancing prospective and under-explored gold properties both in Canada and internationally. The Company’s current portfolio includes the wholly-owned, Bigg Kidd property, located near Aspen Grove, BC. Jiulian Resources is listed on the Exchange under the symbol "JLR".

ON BEHALF OF THE BOARD

Douglas Meirelles, President and CEO

For more information regarding this news release, please contact:

Douglas Meirelles

T: 250-762-5777

W: www.jiulianresources.com

E: ir@jiulianresources.com

Copyright (c) 2020 TheNewswire – All rights reserved.

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