Sirios Signs an Option Agreement for its Maskwa Property
21 Dezembro 2023 - 11:00AM
Management of
SIRIOS RESOURCES INC. (TSX-V: SOI,
OTCQB:SIREF) (“Sirios”) is pleased to announce the signing
of an option agreement on the Maskwa property located in Eeyou
Istchee James Bay in Quebec, with Hertz Lithium Inc. (“Hertz”)
(CSE: HZ). Pursuant to the agreement, Sirios has agreed to grant
Hertz the option to acquire up to a 100% interest in the
lithium/gold property, following an investment totaling $2.55M as
described below.
If the option is completed, Sirios will retain a
1.5% NSR royalty. In addition, Sirios will keep the right to buy
back 100% of the mining rights on the non-critical minerals, which
comprise among other metals, gold, silver and PGE (Platinum Group
Elements) and tungsten, by paying back to Hertz its incurred
exploration expenditures capped to a maximum of $2M.
Pursuant to the agreement, Hertz can earn 100
percent interest in Maskwa over three years by spending a total of
$2.25 million in mineral exploration expenditures, by making a cash
payment on or before the first anniversary of $100,000 plus
$100,000 in cash or in shares plus $100,000 in cash on closing. In
addition, Sirios will receive a payment of $250,000 either in cash
or in shares upon the successful confirmation of drilling results
indicating a lithium concentration of one percent (1%) Li2O or more
over a minimum of twenty-five (25) metres.
About SiriosSirios is a
Canadian mining exploration company focused on developing
its portfolio of high-potential gold and lithium
properties in the Eeyou Istchee James Bay region of
Quebec.
Cautionary Note Regarding
Forward-Looking StatementsThis press release contains
"forward-looking statements" within the meaning of applicable
Canadian securities laws based on expectations, estimates and
projections as of the date of this press release. Forward-looking
statements involve risks, uncertainties and other factors that
could cause actual events, results, performance, expectations and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Factors that could cause actual
results to differ materially from those indicated in such
forward-looking statements include, but are not limited to: the
exercise of the options by Hertz, uncertainties related to the
availability and cost of necessary financing in the future, changes
in financial markets; delays in project development; other risks
relating to the mineral exploration and development industry; and
risks disclosed in public filings of the Company on SEDAR at www.
sedar.com. Although the Company believes that the assumptions and
factors used in preparing the forward-looking statements contained
in this news release are reasonable, readers should not place undue
reliance on this information, which speaks only as of the date of
this news release, and there can be no assurance that such events
will occur or occur within the time periods presented. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Contact: Dominique Doucet,
P.Eng., President and Chief Executive
Officer450-482-0603info@sirios.comWebsite:
www.sirios.com
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