Dr. Marc-Antoine Audet reports

SAMA RESOURCES ANNOUNCES COMMENCEMENT OF UPDATED PRELIMINARY ECONOMIC ASSESSMENT

Sama Resources Inc., in collaboration with its partner Ivanhoe Electric, has mandated BBA International Inc. to upgrade the 2020 preliminary economic assessment (PEA) aimed at producing a nickel (Ni) concentrate and a copper (Cu) concentrate from the Samapleu and Grata magmatic Ni-Cu sulphide deposits. BBA prepared an updated mineral resource estimate in July, 2023.

The updated preliminary economic assessment (updated PEA) will provide detailed information on the project, including site layouts, road access, permits, claims, water bodies and historical infrastructure. It will also cover other important aspects such as geotechnical, geochemical, environmental, hydrology, hydrogeology and metallurgy studies. Additionally, the updated PEA will contain a cost estimation spreadsheet that includes local work force rates, fuel costs and power rates. It will outline the recoveries and product types, smelter terms, mill throughput rate and ramp-up period.

BBA will collaborate with Knight Piesold for tailings design. BBA has a team of highly skilled professionals with extensive experience in nickel mining, both at the study stage and in the provision of technical support to mining operations. This experience has been gained over the last 30 years during work with clients such as Vale, Glencore, Canadian Royalties and a variety of junior exploration companies.

The company anticipates completion of the updated PEA by Q1 2024.

"We are excited to announce the commencement of our updated preliminary economic assessment, marking a significant milestone in our journey at the Samapleu-Grata nickel-copper deposits in Cote d'Ivoire. The recent increase in our mineral resources underscore our commitment to unlocking the full potential of this exceptional project," said Dr. Marc-Antoine Audet, president and chief executive officer of Sama Resources. Dr. Audet added, "We look forward to delivering valuable insights and driving sustainable growth as we continue to explore additional untested targets showing similar geophysical signatures to Samapleu and Grata within our land package."

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 km long new base metal camp in West Africa.

Sama owns 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.

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