Dr. Marc-Antoine Audet reports

SAMA RESOURCES OBTAINS FINAL ORDER APPROVING PLAN OF ARRANGEMENT

The Quebec Superior Court of Justice (Commercial Division) has issued a final order approving the previously announced arrangement, pursuant to which the common shares of Sama Resources Inc.'s wholly owned subsidiary, SRQ Resources Inc., will be spun out.

The arrangement remains subject to certain closing conditions, including its approval by the TSX Venture Exchange.

If the conditions to closing are satisfied or waived, it is anticipated that the arrangement will be completed before Aug. 31, 2023 Following completion of the arrangement, application will be made for the common shares of SRQ to be listed on the TSX-V.

Pursuant to the terms of the arrangement, holders of common shares in the capital of Sama at the effective date of the arrangement will receive: (i) one new common share of Sama for each Sama share held; and (ii) one common share of SRQ for each 10 Sama shares held. The exact effective date will be announced in due course.

To receive the consideration under the arrangement, each registered shareholder of the company must complete, sign, date and return the letter of transmittal, which was referenced in the company's management information circular dated May 29, 2023, and made available on a stand-alone basis on the company's SEDAR profile on June 28, 2023.

For greater clarity, the letter of transmittal is for use only by registered shareholders of Sama. Shareholders whose Sama shares are registered in the name of a broker, investment dealer, bank, trust company, trustee or other nominee should contact that nominee for assistance in depositing those common shares and should follow the instructions of such nominee in order to deposit their Sama shares.

About Sama Resources Inc.

Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu nickel-copper project in Ivory Coast, West Africa. The company is managed by experienced industry professionals with a strong record of discovery. Sama is committed to developing and exploiting the Samapleu nickel-copper and platinum group element resources.

Sama's projects are located approximately 600 kilometres northwest of Abidjan in Ivory Coast and are flanked to the west by the Ivorian and Guinean borders. Sama's projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso, forming a 125-kilometre-long new base metal camp in West Africa.

Sama owns a 70-per-cent interest in the Samapleu nickel-copper project in Ivory Coast with its joint venture partner, Ivanhoe Electric owning 30 per cent. Ivanhoe Electric has the option to purchase up to a 60-per-cent interest in the project.

We seek Safe Harbor.