Sirios Signs Option Agreements for its Li-52 and Niska Properties
21 Dezembro 2023 - 11:30AM
Management of
SIRIOS RESOURCES INC. (TSX-V: SOI; OTCQB:
SIREF) (“Sirios”) is pleased to announce the signing of
option agreements on the Li-52 and Niska properties located in
Eeyou Istchee James Bay in Quebec, with Bullrun Capital Inc.
(“Bullrun”), a private investment company. Pursuant to the
agreements, Sirios has agreed to grant Bullrun an option to acquire
up to a 100% interest in each of the lithium/gold properties,
following an investment totaling $5 million as described below.
Bullrun as a private entity intends to advance the projects and
then assign them to a public exploration company.
If the option is completed, Sirios will retain a
1.5% NSR royalty on Niska and a 1.75% NSR on Li-52. 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 Bullrun its incurred exploration expenditures capped
to a maximum of $2M per property.
Pursuant to the agreements, Bullrun can earn 100
percent interest in the two properties over three years by
financing a total of $5 million in mineral exploration expenditures
($2.25M per property), by making payments on or before the first
anniversary totaling $200,000 ($100,000 per property) in cash plus
$200,000 ($100,000 per property) 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 Bullrun, 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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