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or Name
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Sama Resources Inc
Symbol SME
Shares Issued 137,005,775
Close 2017-11-07 C$ 0.365
Market Cap C$ 50,007,108
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Sama Resources begins HTEM survey at Cote d'Ivoire

2017-11-08 10:19 ET - News Release

Dr. Marc-Antoine Audet reports

SAMA RESOURCES COMMENCES AIRBORNE GEOPHYSICAL SURVEY AT NICKEL-COPPER-COBALT-PALLADIUM PROJECT IN COTE D'IVOIRE

Sama Resources Inc. has commenced a 3,000-line-kilometre airborne helicopter time-domain electromagnetic and magnetic (HTEM) survey over the Samapleu and Yepleu areas on the company's Cote d'Ivoire nickel-copper-cobalt-palladium project in Ivory Coast, West Africa. The HTEM survey will be flown over the area at 200-metre line spacing and is being carried out by Geotech Ltd. of Canada using its versatile time-domain electromagnetic (VTEM) geophysical system.

The HTEM survey will assist Sama with its geological interpretation of the entire Samapleu and Yepleu project areas. The HTEM survey is aimed at targeting new sectors with the potential for additional nickel-copper sulphide mineralization from the surface to several hundred metres at depth.

The company's exploration objective is to delineate massive sulphide reservoirs that could be the source of high-grade nickel-copper-palladium lenses intercepted in shallower boreholes at the Samapleu deposits.

The Samapleu mineralization is typical of a layered, pipe-like intrusion or conduit-hosted nickel deposits. These rare types of intrusions host the world's largest nickel-copper deposits such as Jinchuan (515 million tonnes at 1.06 per cent nickel), Voisey's Bay (137 million tonnes at 1.68 per cent nickel), Kabanga (52 million tonnes at 2.65 per cent nickel), Eagle (4.5 million tonnes at 3.33 per cent nickel), Eagle Nest (20 million tonnes at 1.68 per cent nickel), Kalatongke (24 million tonnes at 0.68 per cent nickel) and N'komati (2.8 million tonnes at 2.08 per cent nickel).

Sama discovered the nickel-copper-cobalt mineralization when it discovered the Yacouba layered complex of mafic and ultramafic rock. This layered complex was created approximately 2.1 billion years ago by the intrusion of magma through the Man Shield. The Yacouba complex can be traced over a strike length of more than 30 kilometres within Sama's properties in Ivory Coast.

Sama retains market-making services

The company has, subject to regulatory approval, retained the services of Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to aid in maintaining an orderly trading market for the common shares of the company.

The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the company has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by the company or VLP. The company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only.

Sama engages Hybrid Financial Ltd. for investor relations activities

The company has, subject to regulatory approval, engaged the services of Hybrid Financial for strategic investor relations initiatives. The initiatives will include marketing, distribution and branding services for the company, with a specific focus on elevating the company's profile through investment advisers in Canada and United States.

Pursuant to the agreement, Hybrid will receive a monthly retainer of $14,000. The agreement commenced on Nov. 1, 2017, for an initial term of three months, following which the agreement may be renewed by the company on a month-to-month basis. The agreement is subject to the approval of the TSX-V.

Hybrid Financial does not have any interest, directly or indirectly, in the company or its securities, or any right or intent to acquire such an interest.

About Sama Resources Inc.

Sama is a Canadian-based mineral exploration and development company with projects in West Africa. On Oct. 23, 2017, Sama announced that it had entered into a binding term sheet in view of forming a strategic partnership with HPX TechCo Inc., a private mineral exploration company in which mining entrepreneur Robert Friedland is a significant stakeholder, in order to develop its Cote d'Ivoire nickel-copper and cobalt project in Ivory Coast, West-Africa.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, PGeo, president and chief executive officer of Sama and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.

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