Sirios Resources congratulates Dhilmar for successfully acquiring the Eleonore Gold Mine

/EIN News/ -- MONTRÉAL, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) (“Sirios” or the “Company”) is pleased to congratulate Dhilmar, a newly established UK-based private mining company, on its successful acquisition of the Eleonore Gold Mine, located 15 km from Sirios’ wholly-owned Cheechoo gold deposit.

Dominique Doucet, President and CEO of Sirios Resources, expressed his enthusiasm: “We are delighted to welcome Dhilmar as our new neighbor operating the Eleonore Mine. Their presence will significantly contribute to unlocking the gold potential of the Opinaca area in Eeyou Istchee, a region where we share similar ambitions.” This acquisition marks a promising development for the area's mining industry, fostering collaboration and growth opportunities in gold exploration and production.

About the Cheechoo Property

Located less than 15 km from Newmont's Éléonore gold mine in the Eeyou Istchee James Bay territory of Québec, the Cheechoo property, 100% owned by Sirios, contains an untapped gold deposit with excellent expansion and development potential.

The most recent mineral resource estimate (MRE) reported, for an open-pit model, using a USD 1,650 gold price:

• Indicated resources: 1.4 million ounces at an average grade of 0.94 g/t Au;
• Inferred resources: 500,000 ounces at an average grade of 0.73 g/t Au.
  Source: BBA, Mineral Resource Estimate Update for the Cheechoo Project, 23/12/2022

Underground mining scenarios have not been evaluated in the 2022 MRE.

Learn more about Cheechoo at sirios.com/en/cheechoo

Qualified Person Statement and NI 43-101 Disclosure

The Mineral Resource Estimate mentioned in this press release conforms to National Instrument 43-101 standards and was prepared by Pierre-Luc Richard, P. Geo., independent qualified person, as defined by NI 43-101 guidelines. The effective date of the estimate is July 20, 2022. The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.

About Sirios

Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) is a Quebec-based mineral exploration company focused on developing its 100%-owned Cheechoo gold property, located in Eeyou Istchee James Bay, Canada.

For more information, please contact:

Dominique Doucet, CEO
450-482-0603
info@sirios.com
www.sirios.com

Cautionary note regarding forward-looking statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.