03:23:39 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Sirios Resources Inc (2)
Symbol SOI
Shares Issued 270,506,213
Close 2023-12-21 C$ 0.05
Market Cap C$ 13,525,311
Recent Sedar Documents

Sirios options 100% of Maskwa property to Hertz

2023-12-21 12:09 ET - News Release

Mr. Dominique Doucet reports

SIRIOS SIGNS AN OPTION AGREEMENT FOR ITS MASKWA PROPERTY

Sirios Resources Inc. has signed an option agreement on the Maskwa property, located in Eeyou Istchee James Bay in Quebec, with Hertz Lithium Inc. Pursuant to the agreement, Sirios has agreed to grant Hertz the option to acquire up to a 100-per-cent interest in the lithium/gold property, following an investment totalling $2.55-mililion, as described below.

If the option is completed, Sirios will retain a 1.5-per-cent NSR (net smelter return) royalty. In addition, Sirios will keep the right to buy back 100 per cent of the mining rights on the non-critical minerals, which comprise, among other metals, gold, silver, PGE (platinum group elements) and tungsten, by paying back to Hertz its incurred exploration expenditures capped to a maximum of $2-million.

Pursuant to the agreement, Hertz can earn 100-per-cent interest in Maskwa over three years by spending a total of $2.25-million in mineral exploration expenditures, by making a cash payment, on or before the first anniversary, of $100,000 plus $100,000 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 1 per cent Li2O (lithium oxide) or more over a minimum of 25 metres.

About Sirios Resources Inc.

Sirios 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.

We seek Safe Harbor.

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