GUN Gunpoint Exploration Ltd

Jiulian Resources Inc. ("Jiulian") (TSX VENTURE:JLR) and Gunpoint Exploration
Ltd. ("Gunpoint") (TSX VENTURE:GUN) are providing an update on the property
acquisition transaction which was previously announced by way of a joint news
release dated February 1, 2011.


About the Property Acquisition Transaction

Gunpoint and Jiulian entered into an agreement dated effective January 25, 2011
(the "Agreement") pursuant to which Jiulian will acquire certain mineral
exploration properties from Gunpoint in the Kamloops and Nicola Mining Districts
in British Columbia. The parties have since agreed to amend the Agreement.
Pursuant to the amended Agreement, Jiulian will purchase a 100% interest in
Gunpoint's Big Kidd and Little Fort claims groups (the "Acquisition"). The
purchase price for these two groups of claims is a cash payment to Gunpoint of
$100,000 and the issuance 1,875,000 common shares of Jiulian. Under the amended
Agreement, there is no longer an option for Jiulian to purchase Gunpoint's
Brassie Creek and Craigmont claims groups, as Gunpoint has decided to give up
its interest in the Craigmont claims and Jiulian, based on a preliminary review,
no longer wanted the option. Jiulian's title to the Big Kidd and Little Fort
claims will be subject to a net smelter return royalty in favour of Gunpoint and
applicable Crown royalties. Gunpoint and Jiulian are at arm's length to each
other. Following the closing of the Acquisition, Dr. E. Max Baker will join the
board of directors of Jiulian. Jiulian has commenced preparation of a technical
report on the Big Kidd property.


The Acquisition is subject to TSX Venture Exchange ("TSXV") approval. Closing of
the Acquisition is expected to occur within five days of TSXV approval. No
finder's fee is payable in connection with the Acquisition.


About the Big Kidd Property

The Big Kidd property comprises four contiguous mineral tenures totalling
4,055.77 hectares and is located 20 kilometres southeast of the city of Merritt,
B.C. The property is centered upon latitude 49 degrees 57' north and longitude
120 degrees 37' west. The exploration target at the Big Kidd property is alkali
porphyry type copper-gold deposit. 


About the Little Fort Property

The Little Fort property consists of 12 mineral tenures for a total area of
8,654 hectares and is located approximately 25 kilometres to the northwest of
the town of Little Fort, B.C. The property is centered upon latitude 51 degrees
29'33" north and longitude 120 degrees 23'42" west. The exploration target at
the Little Fort property is skarn type copper-gold deposit.


The Craigmont Property 

Gunpoint has decided to give up its interest in the Craigmont property located
northwest of Merritt, B.C., which will revert back to the optionor from which
Gunpoint acquired its interest. Gunpoint will focus on the exploration of its
Talapoosa property located in Nevada. Prior to Gunpoint giving up its interest
in the Craigmont property, Jiulian had decided it did not want the option on the
Craigmont or Brassie Creek properties, based on preliminary due diligence.


About Gunpoint Exploration Ltd.

Gunpoint is a publicly traded mineral exploration company (TSX VENTURE:GUN). For
a more complete business and financial profile of the Company, interested
parties are encouraged to visit the Company's website,
www.gunpointexploration.com.


About Jiulian Resources Inc.

Jiulian is a publicly traded mineral exploration company (TSX VENTURE:JLR). For
a more complete business and financial profile of Jiulian, interested parties
are encouraged to visit Jiulian's website, www.jiulianresources.com. 


ON BEHALF OF THE BOARD OF DIRECTORS OF JIULIAN RESOURCES INC.

X. Charlie Cheng, Chief Executive Officer, Director

ON BEHALF OF THE BOARD OF DIRECTORS OF GUNPOINT EXPLORATION LTD.

E. Max Baker, President, CEO and a director

Completion of the transactions above is subject to a number of conditions
including, but not limited to, TSXV acceptance.


All statements, other than statements of historical fact, in this news release
are forward-looking statements that involve various risks and uncertainties,
including, without limitation, statements regarding the completion of the
Acquisition, exploration results and future plans and objectives of Jiulian and
Gunpoint. Jiulian and Gunpoint's actual results, programs and financial position
could differ materially from those anticipated in such forward-looking
statements as a result of numerous factors, some of which may be beyond the
control of Jiulian and Gunpoint. These risks and uncertainties include, but are
not restricted to, the availability of funds; the timing and content of work
programs; results of exploration activities and development of mineral
properties; the interpretation of drilling results and other geological data;
the uncertainties of resource and reserve estimations; receipt and security of
mineral property titles; project cost overruns or unanticipated costs and
expenses; and general market and industry conditions. There can be no assurance
that such statements will prove to be accurate. Actual results and future events
could differ materially from those anticipated in such statements. These and all
subsequent written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Jiulian and Gunpoint
assume no obligation to update forward-looking statements should circumstances
or management's estimates or opinions change.

Grafico Azioni Gunpoint Exploration (TSXV:GUN)
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Da Ott 2024 a Nov 2024

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Da Nov 2023 a Nov 2024