Recent Insider Transactions Derivative • Apr 12
Director exercised options to buy CA$215k worth of stock. On the 10th of April, Robert Menard exercised options to buy 1m shares at a strike price of around CA$0.12, costing a total of CA$120k. This transaction amounted to 26% of their direct individual holding at the time of the trade. Since September 2025, Robert's direct individual holding has increased from 3.50m shares to 3.90m. Company insiders have collectively bought CA$155k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Mar 19
Sirios Resources Inc. announced that it has received CAD 20 million in funding On March 18, 2026, Sirios Resources Inc. closed the transaction. The company issued 40,740,740 flow-through units at a price of CAD 0.27 per FT Unit for gross proceeds of CAD 10,999,999.8 and issued 70,000,000 HD units at a price of CAD 0.20 per HD Unit for gross proceeds of CAD 14,000,000 that includes 45,000,000 HD units for proceeds of CAD 9,000,000 as part of the offering and 25,000,000 HD units for gross proceeds of CAD 5,000,000 as part of exercised overallotment option. The company raised a total of CAD 19,999,999.8. Each FT Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company. The FT Shares and FT Warrants comprising the FT Units each qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "ITA"). Each HD Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company. Each Warrant entitles the holder thereof to purchase one non-flow-through common share of the Company at a price of CAD 0.30 per Warrant Share, subject to customary anti-dilution adjustments, at any time on or before March 18, 2027, subject to acceleration in certain circumstances. As consideration for the agent's services in connection with the Offering, the Company paid the Agents a cash commission equal to CAD 1,212,499.99. The Offering remains subject to final acceptance by the TSX Venture Exchange (the "Exchange"). New Risk • Mar 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$106.8m market cap, or US$77.8m). Board Change • Mar 09
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Guy Le Bel was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 03
Sirios Resources Inc. announced that it expects to receive CAD 20 million in funding Sirios Resources Inc. announces that has entered into an agreement with National Bank Capital Markets, as co-bookrunner and co-lead agent with MDCP Securities Ltd. to issue 40,740,740 flow-through units of the company at a price of CAD 0.27 per FT unit for gross proceeds of up to approximately CAD 10,999,999.8, and up to 45,000,000 hard-dollar units of the company at a price of CAD 0.20 per HD unit for gross proceeds of up to CAD 9,000,000. for aggregate proceeds of CAD 19,999,999.8 on March 2, 2026. The agents have also been granted an option, exercisable in full or in part up to 48 hours prior to the closing date , to sell up to an additional 25,000,000 HD units on the same terms for additional gross proceeds of up to CAD 5,000,000. Each FT unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each HD unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one non-flow-through common share of the company at a price of CAD 0.30 per warrant share at any time on or before that date which is 12 months after the closing date. The offering is expected to close on or about March 18, 2026, or such other date as the company and the agents may agree. Completion of the offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the exchange. Announcement • Feb 28
Sirios Resources Inc. (TSXV:SOI) completed the acquisition of OVI Mining Inc. from Electric Elements Mining Corp and others. Sirios Resources Inc. (TSXV:SOI) entered into a definitive arrangement agreement to acquire OVI Mining Inc. from Electric Elements Mining Corp and others for CAD 9.9 million on December 10, 2025. Under the terms of the arrangement agreement, Sirios will issue an aggregate of 131,905,657 common shares to OVI shareholders, with each holder of common shares of OVI entitled to receive 2.34 Sirios common shares for each common share of OVI held. Upon completion of the transaction, existing Sirios and OVI shareholders will own approximately 75% and 25% of the issued and outstanding Sirios Shares, respectively, on a non-diluted basis. A break fee of CAD 186,000 will be payable to Sirios in certain circumstances. Prior to closing of the Transaction, Sirios and OVI will agree on a corporate re-branding and name change for the combined company.
OVI will be entitled to nominate two directors to the board of Sirios on closing of the Transaction. These are anticipated to be Sean Roosen, current advisor of OVI, and Laurence Farmer, current Chairman of OVI. As part of the Transaction, Dominique Doucet, current Chief Executive Officer and Director of Sirios will transition to the role of Head of Exploration and Executive Chairman of Sirios, and Jean-Felix Lepage will replace Doucet as Chief Executive Officer of Sirios. Sean Roosen and Laurence Farmer will join the Sirios board on closing. Jean-Félix Lepage will assume the role of Chief Executive Officer.
The arrangement agreement was approved by the boards of Directors of both Sirios and OVI. Completion of the transaction will be subject to customary closing conditions and receipt of necessary court, shareholder, and regulatory approvals, including approval of the TSX Venture Exchange. The expected completion of the transaction is in the first quarter of 2026. As of February 18, 2026, shareholders of OVI Mining have approved the agreement.
Mills Dunlop Capital Partners Ltd. acted as financial advisor for OVI Mining Inc. Andrew Disipio of Bennett Jones LLP acted as legal advisor for OVI Mining Inc. Pierre-Olivier Plante of Stein Monast L.L.P. acted as legal advisor for Sirios Resources Inc.
Sirios Resources Inc. (TSXV:SOI) completed the acquisition of OVI Mining Inc. from Electric Elements Mining Corp and others on February 27, 2026. New Risk • Jan 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.9m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (CA$85.6m market cap, or US$61.5m). Announcement • Dec 12
Sirios Resources Inc. (TSXV:SOI) entered into a definitive arrangement agreement to acquire OVI Mining Inc. for CAD 9.9 million. Sirios Resources Inc. (TSXV:SOI) entered into a definitive arrangement agreement to acquire OVI Mining Inc. for CAD 9.9 million on December 10, 2025. Under the terms of the arrangement agreement, Sirios will issue an aggregate of 131,905,657 common shares to OVI shareholders, with each holder of common shares of OVI entitled to receive 2.34 Sirios common shares for each common share of OVI held. Upon completion of the transaction, existing Sirios and OVI shareholders will own approximately 75% and 25% of the issued and outstanding Sirios Shares, respectively, on a non-diluted basis. Sean Roosen and Laurence Farmer will join the Sirios board on closing. Jean-Félix Lepage will assume the role of CEO. Dominique Doucet will transition to Executive Chairman and Head of Exploration. A break fee of CAD 186,000 will be payable to Sirios in certain circumstances.
The arrangement agreement was approved by the boards of Directors of both Sirios and OVI. Completion of the transaction will be subject to customary closing conditions and receipt of necessary court, shareholder, and regulatory approvals, including approval of the TSX Venture Exchange. The expected completion of the transaction is in the first quarter of 2026.
Mills Dunlop Capital Partners Ltd. acted as financial advisor for OVI Mining Inc. Bennett Jones LLP acted as legal advisor for OVI Mining Inc. Stein Monast L.L.P. acted as legal advisor for Sirios Resources Inc. New Risk • Dec 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 22% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.9m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$29.0m market cap, or US$21.0m). New Risk • Nov 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.9m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$25.1m market cap, or US$17.9m). Announcement • Oct 06
Sirios Resources Inc., Annual General Meeting, Dec 11, 2025 Sirios Resources Inc., Annual General Meeting, Dec 11, 2025. New Risk • Aug 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (CA$28.6m market cap, or US$20.8m). Announcement • Aug 01
Sirios Resources Inc. announced that it has received CAD 2.5 million in funding On July 31, 2025, Sirios Resources Inc. closed the transaction. The company issued 22,633,335 units at an issue prIce of CAD 0.06 for gross proceeds of CAD 1,358,000 in its second and final tranche. Each unit will consist of one common share and one common share purchase warrant. The transaction included participation from Quebec institutions in the first tranche of this placement and most of the other
subscribers included company's shareholders. Each warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.12 per common share for a period of 24 months from the date of issuance. A total cash consideration of CAD 14,696 in finder's fees was paid by the Corporation in connection with this closing. The Common Shares and the Warrants issued pursuant to this second tranche are subject to a restricted hold period of four months and one day, ending on December 1st, 2025, under applicable Canadian securities laws. The Offering remains subject to the final approval of the TSX Venture Exchange. New Risk • Jul 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$21.8m market cap, or US$15.8m). Announcement • Jul 17
Sirios Resources Inc. announced that it expects to receive CAD 2.5 million in funding Sirios Resources Inc. announced a non-brokered private placement to issue 41,666,667 units at an issue price of CAD 0.06 per unit for gross proceeds of CAD 2,500,000.02 on July 16, 2025. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.12 per common share for a period of 24 months from the date of issuance thereof. The offering has been conditionally approved by the TSX Venture Exchange. The securities issued under the offering, including the common shares underlying the warrants will be subject to a restricted hold period of four months and one day following the closing of the offering. This offering remains subject to the final approval of the TSXV and is expected to on or about July 31, 2025. Announcement • Jul 12
Sirios Resources Inc. Announces Significant Increase in Cheechoo Open-Pit Gold Resources and Introduces Underground Resources Sirios Resources Inc. reported an updated Mineral Resource Estimate ("MRE") for its 100%-owned Cheechoo Gold Project (the "Project"), located in Eeyou Istchee James Bay, Quebec, less than 15 km from Dhilmar Ltd. 's Eleonore gold mine. Highlights of the 2025 MRE include: 1. 3 million ounces at 1. 12 g/t Au (Indicated Resources); 1. 7 million ounces at 1. 23 g/t Au (Inferred Resources); including 446,000 ounces in underground resources at 3. 09 g/t Au Significant gold grade increase over the 2022 MRE: 19% increase of the open-pit indicated grade (from 0. 94 g/t Au to 1. 12 g/t Au); 38% increase of the open-pit inferred grade (from 0. 73 g/t Au to 1. 01 g/t Au); Low strip ratio of 2. 9:1; Conceptual Exploration Target of 31 to 40 million tonnes of mineralization grading between 1. 27 to 1. 45 g/t Au. The updated Mineral Resource Estimate is based on 345 drill holes, totalling 82,717 meters, including 8,660 meters since 2022. This MRE introduces a new underground component and is based on a new geological model that has revealed previously underestimated, higher-grade zones within the deposit. Conceptual Exploration Target A significant Exploration Target--with both open-pit and underground potential--was identified by consultant PLR Resources during the preparation of the MRE. Highlights of the Exploration Target: Estimated total of 31 to 40 million tonnes of mineralization grading between 1. 27 to 1. 45 g/t Au, including: Open-pit component: 25 to 32 million tonnes of mineralization grading between 0. 90 to 1. 05 g/t Au; Underground component: 6 to 8 million tonnes of mineralization grading between 2. 80 to 3. 05 g/t Au. This conceptual Exploration Target is integrated into the litho-structural model used for the MRE, with the aim of facilitating future targeting and drill hole planning. PLR Resources proposed a 20,000 m drill hole program to provide infill drilling aiming at converting part of the Exploration Target into Inferred Resources, test structural features and potentially increase the size of the Exploration Target. Announcement • May 30
Sirios Resources Inc. Announces Update of the Mineral Resource Estimate for Its Cheechoo Gold Project in Eeyou Istchee James Bay, Quebec Sirios Resources Inc. announced that an update of the Mineral Resource Estimate (MRE) for its Cheechoo Gold Project in Eeyou Istchee James Bay, Quebec, is well underway, with results anticipated as soon as this summer. This update is driven by the adoption of a new game-changing geological and structural model that significantly redefines the deposit's potential. A Transformative Geological Model. Developed in collaboration with leading consultants in resource modeling and applied structural geology, the new model is grounded in a comprehensive analysis of drilling data and geological structures. This work has uncovered previously unrecognized structural controls on gold mineralization, resulting in a redef redefines the key mineralized zones and corridors. An interactive 3D viewer of the new model will be made available on Sirios' website upon publication of the updated MRE. Key Anticipated Impacts. For the first time, the forthcoming resource estimate is expected to include an underground component-representing a major advancement over the December 2022 estimate. This addition paves the way for expanded resource development through future drilling initiatives. The MRE update is being conducted by PLR Resources Inc., a trusted geological consulting firm founded by Pierre Luc Richard, a recognized expert in mineral resource estimation who has authored and coordinated more than 100 technical reports under National Instrument 43-101. New Risk • May 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.8m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.7m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.8m market cap, or US$9.96m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Mar 04
Sirios Resources Inc. Announces Results of Five Additional Drill Holes of Its Fall- Winter 2024-25 Program on the Cheechoo Gold Project in Eeyou Istchee James Bay, Quebec Sirios Resources Inc. announced the results of five additional drill holes of its Fall-Winter 2024-25 program on the Cheechoo gold project in Eeyou Istchee James Bay, Quebec. Phase 2 Highlights (Winter 2025): 13.48 g/t Au over 14.6 m, including 123.94 g/t Au over 1.0 m (CH25-321). 56.41 g/t Au over 2.0 m, including 110.65 g/t Au over 1.0 m (CH25-317E). 83.20 g/t Au over 1.1 m (CH25-317E). 1.92 g/t Au over 34.0 m, including 20.52 g/t Au over 1.0 m (CH25-325). 1.00 g/t Au over 30.5 m (CH24-323). 1.15 g/t Au over 25.8 m (CH25-324). 1.06 g/t Au over 18.3 m (CH25-322). 3.54 g/t Au over 5.0 m (CH25-321). New Vision Validated, The objective of the Fall-Winter 2024-25 drilling program was to validate the new vision for the Cheechoo gold project, which Sirios developed in the second half of 2024, as outlined in the October 7, 2024, press release. This new vision highlighted a dual potential for both large-volume open-pit and underground mining at Cheechoo, with multiple high-priority targets identified for delineating high-grade zones. Nine holes (#317 to #325) were completed between November 2024 and February 2025 for a total drilled length of 3,347 meters, including the extension of holes #317 and #319. The Cheechoo gold deposit is hosted in a tonalite intrusion characterized by multiple gold-enriched zones encased in a lower-grade halo. In addition to the Eclipse zone, numerous high-grade intervals throughout the deposit suggest the occurrence of additional high-grade zones. These zones may be found both within and beyond the boundaries of the 2022 Mineral Resource Estimate conceptual pit. New Risk • Feb 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.7m free cash flow). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (CA$14.5m market cap, or US$10.1m). New Risk • Feb 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (CA$14.5m market cap, or US$10.2m). New Risk • Feb 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (CA$16.2m market cap, or US$11.4m). Announcement • Jan 17
Sirios Resources Inc. Announces the Presence of Visible Gold in the Extension of Drill Hole #317 Drilled This Week on the Cheechoo Gold Project in Eeyou Istchee James Bay, Quebec Sirios Resources Inc. announced the presence of visible gold in the extension of drill hole #317 drilled this week on the Cheechoo gold project in Eeyou Istchee James Bay, Quebec. Several gold grains were observed by Sirios geologists in quartz veinlets at depths ranging from 499.5 to 507.5 m along the hole. The 2025 drilling began this week by drilling the planned 100 m extension to this hole, initially completed at a depth of 397.8 m last December. Following these observations, the hole was extended to 522 m. These observations confirm the presence of gold in the drilled extension, but only laboratory analysis results will specify the gold grade and its extent. Phase 2 of the 2024-2025 drilling program continues at Cheechoo. The Cheechoo gold deposit is hosted in a tonalite intrusion characterized by multiple gold-enriched zones encouraged in a lower-grade halo. In addition to the Eclipse zone. numerous high-grade intervals throughout the deposit suggest the occurrence of additional high-grade zones. These zones may be found both within and beyond the boundaries of the 2022 Mineral Resource Estimate (MRE) conceptual pit. Located less than 15 km from Newmont's Eleonore gold mine in the EeyouIstchee James Bay territory of Quebec. 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 of0.73 g/t Au. Announcement • Jan 15
Sirios Resources Inc. Obtains Up to 40.7 G/T Au over 1.0 M in the Last Two Holes of 2024 and Resumes Drilling At Cheechoo Sirios Resources Inc. announced the results of the last two drill holes from Phase 1 of its Fall–Winter 2024–25 drilling program targeting depth extensions of gold mineralization at the Cheechoo project in Eeyou Istchee James Bay, Quebec. As with the first two drill holes of the program, gold mineralization was intercepted in holes #319 and #320 at the locations anticipated by Sirios' geological team. Following these results, drilling resumed this week including, in addition to new holes, the deepening of drill holes #317 and #319 by 100 m and 50 m, respectively.
Phase 1 of the Fall–Winter 2024–25 Drilling; Holes #319 and #320 completed phase 1 of the Fall-Winter 2024-25 program for a total of 1,882 meters. The deepening of drill hole #317 is ongoing, to be followed by the drilling of phase 2 targets as well as the deepening of #319. Strategic Objectives; The primary objectives of this drill program are to: Gather data to support an upcoming Mineral Resource Estimate (MRE) update; Test high-priority targets identified during the comprehensive data review conducted by Sirios during the summer of 2024. Announcement • Dec 16
Sirios Resources Inc. Intersects Up to 79.7 G/T Au over 1.4 M in the Two First Drill Holes of Fall 2024 at Cheechoo Sirios Resources Inc. announced the results from the two first drill holes of the Phase 1 of its Fall-Winter 2024-25 Drilling Program on the Cheechoo gold project in Eeyou Istchee James Bay, Quebec. The two drill holes intercepted gold mineralization exactly at the locations anticipated by Sirios' geological team. These results help validate the new interpretation of the Cheechoo deposit, which reinforces the potential for high-grade zones, paving the way for possible development combining open-pit and underground mining. Phase 1 of the Fall- winter 2024-25 Drilling: Sirios has completed drilling of the 4 holes constituting phase 1 of the Fall-Winter 2024-25 program for a total of 1,882 meters. Core samples from holes #319 and 320 are currently being analyzed. The primary objectives of this drill program are to: Gather data to support an upcoming Mineral Resource Estimate (MRE) update; Test high-priority targets identified during the comprehensive data review conducted by Sirios during the summer of 2024. The Cheechoo gold deposit is hosted in a tonalite intrusion characterized by multiple gold-enriched zones encouraged in a lower-grade halo. In addition to the Eclipse zone. numerous high-grade intervals throughout the deposit suggest the occurrence of additional high-grade zones. 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. Announcement • Nov 26
Sirios Resources Announces Visible Gold Found At Multiple Depths in First Drill Hole of Fall 2024 At Cheechoo Sirios Resources Inc. announced the presence of visible gold at eight different locations in the first drill hole of its Fall 2024 program on the Cheechoo gold project in Eeyou Istchee James Bay, Quebec. Multiple gold grains were observed by Sirios geologists in drill hole CH24-317 at the following depths: 86.6m; 91.7m; 128.0m; 167.5m; 178.3m; 189.0m; 331.3m; between 356.9m and 358.3m. These observations confirm the presence of gold at multiple locations along the hole, but only laboratory assay results will specify the gold grade. The drill hole was completed after reaching the planned depth of 3,399 meters. Location of drill holes CH24-317 (com completed) and CH24-318 (in progress). Phase 1 focuses on delineating and expanding high-grade zones in the eastern part of the deposit. Phase 2 will expand drilling to the western part of the deposit, including the high-grade Eclipse zone. This drilling campaign marks a significant milestone in the Company's new vision for the project, targeting high-grade zones with potential for both open-pit and underground development. The primary objectives of this drill program are to: Gather data to support an upcoming Mineral Resource Estimate (MRE) update; Test high-priority targets identified during the comprehensive data review conducted by Sirios during the summer of 2024. Cheechoo's High-Grade Zones: The Cheechoo gold deposit is hosted in a tonalite intrusion characterized by multiple gold-enriched zones encouraged in a lower-grade halo. In addition to the Eclipse zone, numerous high-grade intervals throughout the deposit suggest the occurrence of additional high-grade zones. 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 of0.73 g/t Au. Announcement • Nov 20
Sirios Resources Inc. Kicks Off Phase 1 Drill Program at Cheechoo Gold Project Sirios Resources Inc. announced the commencement of its Phase 1 drill program at the Cheechoo gold project, located in Québec'sEeyou Istchee James Bay territory. This drilling campaign marks a significant milestone in the Company's new vision for the project, targeting high-grade zones with potential for both open-pit and underground development. The Phase 1 program will consist of 2,000 to 3,000 meters of diamond drilling. Phase 2 will be of greater scope and will be carried out during the winter of 2025. Phase 1 will focus on delineating and expanding high-grade zones in the eastern part of the Cheechoo gold deposit. Phase 2 will expand drilling to the western part of the deposit, including the high-grade Eclipse zone. Strategic Objectives: The primary objectives of this drill program are to: Gather data to support an upcoming Mineral Resource Estimate (MRE) update; Test high-priority targets identified during the comprehensive data review conducted by Sirios during the summer of 2024. Cheechoo’s High-Grade Zones: The Cheechoo gold deposit is hosted in a tonalite intrusion characterized by multiple gold-enriched zones encased in a lower-grade halo. In addition to the Eclipse zone, numerous high-grade intervals throughout the deposit suggest the occurrence of additional high-grade zones. These zones may be found both within and beyond the boundaries of the 2022 Mineral Resource Estimate (MRE) conceptual pit. 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. Announcement • Nov 14
Sirios Resources Inc. announced a financing transaction Sirios Resources Inc. announced a non-brokered private placement to issue common shares on November 13, 2024.
On the same date, the company announced that it has issued 13,742,843 common shares at an issue price of CAD 0.07 per share for the gross proceeds of CAD 961,999.01 in first tranche. In connection with the first tranche of the offering, finders' fees totaling CAD 20,000 were paid to a non-arm's-length finder, Mine Equities Ltd. In addition, finders' fees totaling CAD 16,000 were paid to arm's-length finders. Shares issued pursuant to this offering are subject to a restricted hold period of four months and one day, ending on March 14, 2025, under applicable Canadian laws. The offering and payments of finder's fees are subject to the final approval of the TSX Venture Exchange. Depending on market conditions, the corporation may decide to proceed with the closing of additional tranches of the offering. Under the offering, a director of the corporation has subscribed for a total of 285,700 shares for a total consideration of CAD 19,999. New Risk • Nov 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.9m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.0m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.9m market cap, or US$9.96m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). New Risk • Oct 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$4.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.0m free cash flow). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (CA$17.0m market cap, or US$12.2m). Announcement • Oct 07
Sirios Resources Inc. Unveils New Vision for Cheechoo Gold Project Sirios Resources Inc. unveiled a new vision for its Cheechoo gold project, located in Québec’s Eeyou Istchee James Bay territory. In the wake of the winter 2024 drilling program, Sirios embarked on a comprehensive management review of data, spanning several months. This in-depth analysis, conducted in collaboration with specialized geological and mining consultancy firms, including PLR Resources Inc., has yielded very promising results. The thorough examination has led to the identification of multiple high-priority targets for delineating high-grade zones that may lead to both open-pit and underground mining. Notably, the near-surface Eclipse zone has emerged as a standout prospect, exhibiting remarkable high-grade continuity across numerous drill holes (Figures 1 to 3). This strategic assessment has not only validated the company's exploration efforts but also opened up new avenues for future development at the Cheechoo gold project. Sirios' technical team is currently designing an intensive drilling program aimed at delineating high-grade zones within the property. The company intends to disclose comprehensive details about this strategic program in forthcoming press releases, offering stakeholders valuable insights into Sirios' exploration plans and objectives. 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, December 23, 2022. Announcement • Oct 04
Sirios Resources Inc. Announces the Execution of Field Work on the Aquilon Gold Property Located in Eeyou Istchee James Bay, Quebec The management of Sirios Resources Inc. announced the execution of field work on the Aquilon gold property located in Eeyou Istchee James Bay, Quebec, in partnership with Sumitomo Metal Mining Canada Ltd. (Sumitomo). Mechanical stripping, mapping, channel sampling of outcrop, as well as rehabilitation of old trenches will be carried out over the next three weeks on targets resulting from the soil geochemical sampling survey (B horizon) completed last June. Most of these new targets, with a general north-south orientation, are in the western portion of the property, an area distinct from the one containing the main gold showings previously identified. This exploration program will help define drill targets that will be ready to be tested in early 2025. Announcement • Sep 17
Sirios Resources Inc., Annual General Meeting, Nov 27, 2024 Sirios Resources Inc., Annual General Meeting, Nov 27, 2024. New Risk • Aug 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.4m (US$8.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m. Market cap is less than US$10m (CA$12.4m market cap, or US$8.99m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Jun 13
Sirios Resources Inc. Begins Summer Exploration Program on Aquilon, Eeyou Istchee James Bay Region, Quebec Sirios Resources Inc. announced the start of the summer exploration program on its Aquilon gold property in the Eeyou Istchee James Bay region, in partnership with Sumitomo Metal Mining Canada Ltd. (Sumitomo). A soil geochemical survey (B horizon) will be initiated this week as a follow-up on the gold anomalous areas delineated during the property-wide soils geochemical survey completed in 2023. Some of the anomalous areas lie outside of the known gold mineralization and are hence considered as new prospective exploration targets. The in- fill soils geochemical survey will consist of approximately 1,000 samples collected every 50 m over sampling lines spaced at 100 m interval. In addition, a series of mechanical strippings will be carried out over selected targets based on their geochemical signature but also evaluated from the re-interpretation of structural and geological context recently completed by the exploration team. A geological mapping and channel sampling program will be carried out during fall 2024 over all the strippings. This exploration program is designed to generate targets to a drill-ready stage by the beginning of 2025. The current exploration program is financed by Sumitomo, with Sirios as operator. Sumitomo has the option to earn an 80% interest in the Aquilon project by making an investment of $14.8 million. The Aquilon gold property consists of 140 mineral claims covering an area of 68 km 2. It is located in Eeyou Istchee James Bay, Quebec, 10 km south of the Laforge-1 hydroelectric power station and is easily accessible by all-season roads. To date, 32 gold showings have been discovered on the property. Drill intercepts on the Aquilon project are among the highest gold grades reported in Quebec (source: Sigeom), which includes 12,906.5 g/t Au over 0.2 m (Lingo showing), 3,527.4 g/t Au over 0.4 m (Moman showing) and 133.67 g/t Au over 0.8 m (Fleur-de-Lys showing) (ref. press releases of 26/06/2008 and 19/01/2011). More information is available on the recently updated Aquilon Project web page at sirios.com/en/our-projects/aquilon. Roger Moar, P.Geo. and Dominique Doucet, P.Eng. qualified persons under NI 43-101 prepared and verified the technical information in this press release and reviewed the final version of the text. Announcement • May 02
Sirios Resources Inc. announced that it has received CAD 1.310755 million in funding On April 30, 2024, Sirios Resources Inc closed the transaction. The company issued 21,845,915 units at a price of CAD 0.06 per unit for the gross proceeds of CAD 1,310,754.9. Under the Offering, insiders of the Corporation have subscribed for a total of 1,142,000 Units for a total consideration of CAD 68,520. The Common Shares and the Warrants issued pursuant to this Offering are subject to a restricted hold period of four months and one day, ending on August 31, 2024 Announcement • Apr 17
Sirios Resources Inc. announced that it expects to receive CAD 1.8 million in funding Sirios Resources Inc. announced a non-brokered private placement with investors for the issuance of a maximum of 30,000,000 units at a price of CAD 0.06 per unit for the gross proceeds of CAD 1,800,000 on April 16, 2024. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.12 per common share for a period of 24 months from the date of issuance thereof. The common shares and the warrants issued pursuant to this offering will be subject to a restricted hold period of four months and one day following the closing of the offering. The offering remain subject to the final approval of the Exchange. Announcement • Mar 28
Sirios Resources Inc. announced a financing transaction Sirios Resources Inc. announced a non-brokered private placement to issue Flow-Through shares at an issue price of CAD 0.065 per share on March 27, 2024.
On the same date, the company announced that it has issued 4,142,306 common shares at an issue price of CAD 0.065 per share for the gross proceeds of CAD 269,249.89 in the first tranche. In connection with the Offering, finder’ fees totaling CAD 12,000 will be paid to a non-arm’s length finder, Mine Equities Ltd., through the issuance of 184,615 Shares at a price of CAD 0.065 per Share. The Shares issued pursuant to this Offering are subject to a restricted hold period of four months and one day, ending on July 28, 2024, under applicable Canadian laws. The Offering and issuance of Shares as finder’ fees remain subject to the final approval of the the TSX Venture Exchange. Under the Offering, an insider of the Corporation subscribed for a total of 200,000 Shares for a total consideration of CAD 13,000, Announcement • Mar 26
Sirios Resources Inc. Increases Eclipse Drill Program to over 3,000 Metres Sirios Resources Inc. announced that, following the positive progress of the ongoing drilling program in the Eclipse high-grade gold area of its Cheechoo property, the program has been increased to more than 3,000 metres. The campaign is well underway and is expected to end shortly. The drilling program currently being conducted by Sirios aims to confirm the continuity of the high-grade Eclipse gold zone. Subsequently, Sirios will be able to assess the potential of this area for underground development using a ramp. Announcement • Mar 06
Sirios Resources Inc. Intersects 105.21 G/T Au over 1.0 M in the Eclipse Area, Cheechoo Property Sirios Resources Inc. reported partial results from the first two holes completed as part of the diamond drilling program targeting the high-grade Eclipse zone of the Cheechoo gold property. Partial results of the first two drill holes: CH24-305: 105,21 g/t Au over 1.0 m, included in 14.16 g/t Au over 6.4 m, from 251.5 to 257.9 m, CH24-306: 24.42 g/t Au over 1.0 m, included in 3.89 g/t Au over 7.0 m, from 312.3 to 319.3 m. These two holes intersected the Eclipse zone at the targeted depths, thus confirming its continuity at depth. Considering the positive progress of the current drilling program, Sirios’ management has decided to extend the campaign to 2,000 metres. The high-grade Eclipse area, located west of the main area of the Cheechoo gold deposit, is not included in the updated 2022 Mineral Resource Estimation (MRE), which outlined 1.4 Million Ounces of Gold (Indicated) and 500,000 Ounces of Gold (Inferred) (BBA, Mineral Resource Estimate Update for the Cheechoo Project, 20/07/2022). Sirios is currently conducting a drilling program aimed at including Eclipse in the next update of the MRE. Drill hole CH24-305 was assayed from 230.5 to 280.0 m (end of hole) and hole CH24-306 was assayed from 285.4 to 337.0 m (end of hole). Results are pending for the remainder of the samples from these drill holes. The drill core was described and sampled by Sirios staff at the Cheechoo exploration camp. The core was sawn into two halves, one sent to a certified commercial laboratory for analysis, and the other retained for future reference. Following a strict analytical quality assurance and control program, blanks and certified reference materials were integrated into the sampling sequence. Samples were assayed for gold, on approximately 500g of crushed material, with the Photon Assay™ method (PAAU02) at the MSALABS laboratory located in Val-d'Or. Samples with the presence of visible gold were assayed using the entire sample material with the Photon Assay™ method. Announcement • Mar 02
Fury Gold Mines Limited (TSX:FURY) completed the acquisition of 10.98% stake in Sirios Resources Inc. (TSXV:SOI) from Newmont Corporation (NYSE:NEM) and Goldcorp Incorporated. Fury Gold Mines Limited (TSX:FURY) entered into an agreement to acquire 10.98% stake in Sirios Resources Inc. (TSXV:SOI) from Newmont Corporation (NYSE:NEM) and Goldcorp Incorporated for CAD 1.3 million on February 26, 2024. Fury Gold Mines agreed to purchase Newmont’s 30,392,372 shares of Sirios Resources. In a related transaction, Fury will purchase Newmont’s 49.978% interest in Éléonore South for CAD 3 million. Completion of the purchase is subject to certain conditions precedent and is expected to close in late February or early March 2024.Fury Gold Mines Limited (TSX:FURY) completed the acquisition of 10.98% stake in Sirios Resources Inc. (TSXV:SOI) from Newmont Corporation (NYSE:NEM) and Goldcorp Incorporated on February 29, 2024. Newmont Corporation, through its subsidiary Goldcorp Inc., indirectly disposed of an aggregate of 24,982,352 common shares and directly disposed of an aggregate of 5,410,020 common shares of Sirios representing approximately 10.98%. New Risk • Feb 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.6m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (CA$13.8m market cap, or US$10.2m). New Risk • Feb 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 24% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (CA$15.2m market cap, or US$11.3m). Announcement • Feb 15
Sirios Resources Inc. Initiates Drilling in Cheechoo's High-Grade Eclipse Gold Area Sirios Resources Inc. announced the start of a 1,000-metre diamond drilling program aimed at including the high-grade Eclipse area in the next update of the Mineral Resource Estimation (MRE) for the Cheechoo property. Located west of the main Cheechoo gold deposit, the Eclipse area is not included in the updated 2022 MRE, which outlined 1.4 Million Gold Ounces (Indicated) and 500,000 Gold Ounces (Inferred) (BBA, Mineral Resource Estimate Update for the Cheechoo Project, 20/07/2022). Previous drilling defined the high-grade Eclipse zone over approximately 120 m laterally, 2 to 6 metres in width and over 250 m deep (open at depth). Several high- and very high-grade gold intervals were intersected in the Eclipse area. Gold mineralization at Eclipse is associated with various quartz-feldspar veins, veinlets and stockworks hosted in a tonalite intrusion, with the presence of arsenopyrite and pyrrhotite (typically 0.5 to 1%) as well as visible gold grains. New Risk • Jan 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (CA$13.8m market cap, or US$10.4m). Announcement • Dec 29
Sirios Resources Inc. announced that it has received CAD 0.5 million in funding Sirios Resources Inc. announced a non-brokered private placement for issuance of 6,250,000 units at a price of CAD 0.08 per unit for gross proceeds of CAD 500,000 on December 28, 2023. Each unit is comprised of one flow-through common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share for a period of 24 months from the closing of the offering at a price of CAD 0.15. The company paid no finder's fees in connection with this offering. The common shares issued pursuant to this offering are subject to a restricted hold period of four months and one day, under applicable Canadian securities laws. The offering remains subject to the final approval of the TSX Venture Exchange. Announcement • Dec 13
Sirios Resources Inc. Extends the Gold Zone over 400 Metasediments East of the Cheechoo Gold Deposit Sirios Resources Inc. announced the results of 7 diamond drill holes that were completed as part of a drilling program aimed at expanding the recently discovered mineralized zone in the metasediments, located 300 meters east of the Cheechoo deposit. The Cheechoo deposit currently contains indicated resources of 1.4 Moz Au as well as inferred resources of 500,000 ounces of gold. The Cheechoo gold property, 100% owned by Sirios, is located less than 10 km from Newmont's Eleonore gold mine in Eeyou Istchee Baie-James, Quebec. Highlights: The 7 follow-up drill holes, completed in November 2023, all intersected the targeted mineralized zone with multiple significant gold assays near surface, thus demonstrating the strong continuity of this zone. The complete drilling campaign included nine holes for a total of 1,108 metres. All the drill core was described and sampled by Sirios staff at the Cheechoo exploration camp. Announcement • Nov 10
Sirios Resources Inc. Validates Photonassay(Tm) Gold Analysis Technology with Samples from the Cheechoo Gold Deposit Sirios Resources Inc. announced that its validation testing of the PhotonAssay gold assay technology has been successfully completed. As previously announced some one hundred core samples from selected sections of previous drilling at the Cheechoo gold deposit were sent to MSALABS laboratories in Val-d'Or in order to evaluate this new assay technique. Based on these results, core samples taken during the recent 2023 drilling campaign will be analyzed using this technology, which has among other things, a lower environmental impact than other commonly used analytical techniques. Since analyses will be performed on a standard quantity of approximately 500 grams of material, instead of the usual 50 grams used for fire assay, the company believe it will be more appropriate for analysing samples containing coarse free gold (resulting in the nugget effect). In addition, since PhotonAssay analysis is non-destructive, it will allow the sample to be used in the future for other tests, if required. Finally, the time required to receive analytical results should be shorter. Announcement • Nov 03
Sirios Resources Inc. announced that it has received CAD 0.15 million in funding On November 2, 2023, Sirios Resources Inc., closed the transaction. The company issued 800,000 common shares at a price of CAD 0.05 per share for the gross proceeds of and 1,375,000 flow-through share at a price of CAD 0.08 per share for the total gross proceeds of CAD 150,000. The shares issued pursuant to this offering are subject to a restricted hold period of four months and one day, ending on March 3, 2024, under applicable Canadian securities laws. The offering remains subject to the final approval of the TSX Venture Exchange. Announcement • Oct 25
Sirios Resources Inc., Annual General Meeting, Dec 18, 2023 Sirios Resources Inc., Annual General Meeting, Dec 18, 2023. Announcement • Oct 19
Sirios Resources Inc. Starts Exploration Drilling to the East of the Cheechoo Gold Deposit Sirios Resources Inc. announced the start of a 1,200-metre diamond drilling program on Sirios' Cheechoo gold property in Eeyou Istchee, James Bay, Quebec. The proposed holes will test the lateral and depth continuity of gold mineralization discovered in the 2022 trenches, from which an interval grading 2.65 g/t Au over 11.0 m was obtained. This gold mineralization, identified in meta-sedimentary rocks, was also intersected in holes #67, 129 and 269, which included an interval of 0.9 g/t Au over 15.7 m. Sirios’ 100% owned Cheechoo property is in the Eeyou Istchee James Bay region of Quebec, approximately 800 km north of Montreal, 200 km east of Wemindji and less than 10 km from Newmont’s Eleonore gold mine. The last update of the mineral resource estimate for Cheechoo, based on an open pit constrained model, includes an indicated resource of 1.4 million ounces of gold contained in 46.3 million tonnes at an average grade of 0.94 g/t Au, and an inferred resource of 0.5 million ounces of gold contained in 21.1 million tonnes at an average grade of 0.73 g/t Au . Announcement • Oct 18
Sirios Resources Inc. announced that it expects to receive CAD 0.9 million in funding Sirios Resources Inc. announced a non-brokered private placement of up to 5,000,000 common shares of the corporation at a price of CAD 0.05 per share and maximum of 8,125,000 flow-through shares at a price of CAD 0.08 per flow-through share for the gross proceeds of CAD 900,000 on October 17, 2023. The common shares and flow-through shares issued under this offering will be subject to a hold period of four months and one day following the closing of the offering. The transaction has been conditionally approved by the TSX Venture Exchange, but remains subject to regulatory approval and filings, including final approval of the TSXV. Announcement • Sep 12
Sirios Resources Inc. (TSXV:SOI) acquired 160 additional claims in Eeyou Istchee James Bay. Sirios Resources Inc. (TSXV:SOI) acquired 160 additional claims in Eeyou Istchee James Bay on September 11, 2023.Sirios Resources Inc. (TSXV:SOI) completed the acquisition of 160 additional claims in Eeyou Istchee James Bay on September 11, 2023. Announcement • Sep 07
Sirios Resources Inc. Announces Lithium Exploration on Significant Tantalum Till Anomalies on the Maskwa Property in Eeyou Istchee James Bay Region, Quebec Sirios Resources inc. announced that lithium-targeted follow-up work will be performed on significant tantalum anomalies previously detected in till samples from the Maskwa property . The mandate for the work was awarded to IOS Services Géoscientiques inc. of Saguenay, Quebec (IOS) which will collect more than 110 til samples along sampling lines (WNW-ESE) over two target areas. The planned work will test the Maskwa property for the presence of spodumene bearing pegmatites (a lithium source mineral), the potential of which was demonstrated by the 2020 survey. The work will also test previously detected gold and tungsten anomalies. Sampling lines spaced between 500 m and 2000 m are planned perpendicular to the dominant ice flow and up-ice of the anomalous results already detected. The spacing between samples takes into account the types of surficial deposits and till availability as indicated on the map below. Sampling lines, 2 km apart with samples taken at 250 m intervals, are planned in the northeast portion of the property to complete the regional sampling of the property. The previous till sampling survey had revealed three significant tantalum anomalies with grain counts each exceeding one hundred tantalum minerals, mainly colombo tantalites (niobium tantalum oxide mineral), with a maximum of 179 grains. These observations came from the 97 heavy mineral concentrates processed by the ARTGold method, an automated scanning electron microscope (SEM) mineral detection technology. This IOS proprietary technology has demonstrated its effectiveness in the region of the Pontax lithium deposit on behalf of clients including the Ministry of Natural Resources and Forests of Quebec. Announcement • Jul 28
Sirios Resources Inc. Announces Board Changes SIRIOS RESOURCES INC. announced the appointment as director of Mr. Robert Ménard to its Board of Directors (the “Board”), following the resignation of Mr. François Auclair as director of the Corporation. In connection with his recent involvement as President and CEO of Lithium 3 Corporation, Mr. Auclair resigned from the Board. Mr. Luc Cloutier, Chairman of the Board, would like to sincerely thank Mr. Auclair for the constructive contribution he made to the Board. In addition, the Board proceeded with a reorganization of its committees in which Mr. Cloutier left the position of Chairman of the Board to become Chairman of the Governance, Environment and Health and Safety Committee and Mr. Ménard was appointed Chairman of the Board. Mr. Ménard graduated in Electrical Engineering from the University of Ottawa and then began his career in 1972 with the IOC (Iron Ore Corporation of Canada) and then continued, in 1974, as Vice President for an industrial contractor until 1993. From 1994 to 2006, he acted as Vice President, Projects & Construction at Cambior where he was responsible for project development, from engineering studies to site construction and start-up. Subsequently, he was vice-president of engineering and construction of a nickel project in the Canadian Arctic and co-director of engineering and construction of IAMGOLD’s Essakane project in Burkina Faso. He was vice president of engineering & construction for Andean Resources’ Cerro Negro project in Argentina and later held the position of engineering and construction manager for Newmont’s Merian project in Suriname. Announcement • Feb 01
Sirios Identifies Several Highly Prospective Lithium Projects among its Properties located in Eeyou Istchee James Bay, Quebec Sirios Resources Inc. completed an in-depth evaluation for the lithium potential on its numerous properties located in Eeyou Istchee James Bay, Quebec. Sirios currently holds 1,447 claims in the James Bay region, totaling nearly 750 km2, which gives the company a very favorable position in relation to the lithium potential of the region (Figure 1). Four of Sirios’ projects have been identified as very promising for hosting lithium due to their geological characteristics, their proximity to known lithium-bearing showings and the presence of regional geochemical lake-bottom sediment anomalies. To date, Sirios’ properties have never been explored specifically for lithium. Mineral prospects favorable to the presence of lithium mineralization have been identified on the Cheechoo property. The Pontax property is located less than one kilometre from and directly along the extension of the Stria Lithium and Cygnus Gold lithium-bearing pegmatite swarm, which is currently the subject of a major drilling program. Significant geochemical lithium anomalies have been identified on the Maskwa property. The Li-52 property is a recently staked Sirios project, primarily targeting lithium based on highlighted lithium-rich lake-bottom sediment anomalies. Sirios has identified several lithium-rich spodumene-bearing boulders near numerous pegmatite outcrops, in the central part of the property, approximately 3 km north of the Cheechoo gold deposit. Sirios has since acquired by map designation, 75 new claims up-ice of the boulders for their lithium exploration potential, thus expanding the property to the northeast. A detailed exploration program focusing on the lithium potential will be carried out in the area of the Cheechoo spodumene boulders starting in the summer of 2023. Announcement • Jan 17
Sirios Resources Inc. Files on SEDAR the Mineral Resource Estimate for Cheechoo Detailing Indicated Resources of 1.4 Moz at 0.94 G/T Au and Inferred Resources of 0.5 Moz At 0.73 G/T Au Sirios Resources Inc. announced the filing on SEDAR of the technical report "Mineral Resource Estimate Update for the Cheechoo Project, Eeyou Istchee James Bay, Quebec", with an effective date of July 20, 2022. The report, compliant to NI 43-101 standards and completed for Sirios by BBA, includes an updated mineral resource estimate of the Cheechoo Gold Project, located in Eeyou Istchee James Bay, Quebec. The updated mineral resource estimate, based on an open pit constrained model, includes an indicated resource of 1.4 million ounces of gold contained in 46.3 million tonnes at an average grade of 0.94 g/t Au, and an inferred resource of 0.5 million ounces of gold contained in 21.1 million tonnes at an average grade of 0.73 g/t Au. The mineral resource estimate has been prepared by consulting firm BBA in accordance with the Definition Standards of the Canadian Institute of Mining, Metallurgy and Petroleum as defined in the National Instrument 43-101. The estimate is based on data from 329 diamond drill holes totaling 76,713 metres and 386 channels totalling 3,217 metres which were completed by Sirios between 2012 and 2022. Sirios' press release issued on December 6, 2022 summarized the key results contained in the 2022 Cheechoo mineral resource estimate update. The scientific and technical content of this press release has been reviewed and approved by Mr. Dominique Doucet, P.Eng. President and CEO of Sirios Resources Inc. and Mr. Jordi Turcotte, P. Geo. Senior Geologist who are both "Qualified Persons" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Sirios' 100% owned Cheechoo property is located in the Eeyou Istchee James Bay region of Quebec, approximately 200 km east of Wemindji and less than 10 km from Newmont's Eleonore gold mine. Board Change • Dec 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Francois Auclair was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 24
Sirios Resources Inc. announced that it has received CAD 0.999999 million in funding Sirios Resources Inc. announced a non-brokered private placement 14,285,704 common shares at a price of CAD 0.07 per common share for gross proceeds of CAD 999,999.28 on December 22, 2022. The transaction included participation from director of the Corporation has subscribed in the transaction for a total of CAD 4,999.96.Finder’s fees totaling CAD 66,780.00 were paid to finders in connection with this transaction. The common shares issued are subject to a restricted hold period of four months and one day, ending on April 23, 2023, under applicable Canadian securities laws. The transaction remains subject to the final approval of the TSX Venture Exchange. Announcement • Dec 08
Sirios Announces Indicated Resources of 1.4 Moz At 0.94 G/T Au and Inferred Resources of 0.5 Moz At 0.73 G/T Au At Cheechoo SIRIOS RESOURCES INC. announced the updated resource estimate for its Cheechoo gold property. The Cheechoo deposit now includes 74% of the gold ounces classified as indicated resources. In addition, the gold grade of these indicated resources shows an increase of 45% over the 2020 resources. This resource update follows the 2021 definition drilling program totalling 6,836 m on Sirios' 100%-owned Cheechoo property located in Eeyou Istchee James Bay, Quebec. The updated resource estimate (Table 1), based on an open pit development model, includes indicated resource of resource of 0.5 million ounces of gold contained in 21.1 million tonnes at an average grade of 0.73 g/t Au. These excellent results were made possible by the 2021 definition drilling campaign, as well as the recent 1 kg re-assaying campaign. This work has allowed them to refine the geologica lmodeling and improve the structural understanding of the high-grade zones. The improvement of the 3D model allowed for the revision of several interpolation parameters, including the variography and capping. In addition, a more advanced review of the metallurgical tests allowed the application of optimized recovery rates by grade range. Finally, the increase in the cut-off grade also contributed to the increase in the average grade of the mineral resource. Together, these elements demonstrate the excellent characteristics of the Cheechoo deposit, which has seen a significant increase in average grade while retaining a considerable number of defined ounces of gold. The progress made by Sirios over the past two years has improved the understanding of the Cheechoo deposit and resulted in an updated resource estimate, which includes the presence of indicated resources for the first time. Announcement • Nov 30
Sirios Resources Inc. Announces Guy Chevrette and Michel Bouchard Decide Not to Renew Positions as Directors SIRIOS RESOURCES INC. announced that during the December 15, 2022, Annual General and Special Shareholders Meeting. Messrs. Guy Chevrette and Michel Bouchard have decided not to renew their positions as directors to allow for the arrival of new candidates. Announcement • Nov 22
Sirios Resources Inc. (TSXV:SOI) acquired 20 additional claims located in Tilly 2 property, Quebec. Sirios Resources Inc. (TSXV:SOI) acquired 20 additional claims located in Tilly 2 property, Quebec in November, 2022.
Sirios Resources Inc. (TSXV:SOI) completed the acquisition of 20 additional claims located in Tilly 2 property, Quebec in November, 2022. Announcement • Nov 09
Sirios Resources Inc. Provides Assay Results from Channel Samples Collected from Cheechoo Gold Property The management of Sirios Resources Inc. reported assay results from channel samples collected last summe, which included 2.65 g/t Au over 11.0 m. This confirms the extension of gold mineralization beyond the tonalite and into the meta-greywackes (“metasediments”) outside of the conceptual pit of the 2020 mineral resource estimate of the Cheechoo project. These results highlight a new type of gold mineralization hosted in metasediments, more typical of the Eleonore mine. In August and September, Sirios carried out mechanized trenching and channel sampling of three areas in the metasediments to the east of the conceptual pit of the Cheechoo gold deposit. A total of 218 samples from 216 meters of channels were sent to the ALS laboratory in Val-d'Or for analysis. A new geological setting for the gold mineralization of the Cheechoo deposit. The high-grade gold results obtained during this program are hosted in metasediments with 2-3% pyrrhotite and arsenopyrite, as well as millimetric quartz-feldspar veinlets, which represents a new geological context for gold mineralization for the Cheechoo deposit. Intrusive rocks (tonalite and pegmatite) were previously thought to be the only host rocks for gold mineralization at Cheechoo. The discovery of these new high-grade gold zones in the metasediments now confirms the presence of gold mineralization more than 400 meters outside of the tonalite. The Cheechoo gold property is 100% owned by Sirios and consists of 225 claims covering an area of 118 km2, divided into three non-contiguous blocks. It is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine and is easily accessible by all-season roads. The project’s most recent resource estimate (October 2020) delineated inferred resources of 2.0 million ounces of gold contained in 93.0 million tonnes at 0.65 g/t Au, with significant potential to increase this resource. Announcement • Oct 15
Sirios Resources Inc., Annual General Meeting, Dec 15, 2022 Sirios Resources Inc., Annual General Meeting, Dec 15, 2022. Announcement • Sep 22
Sirios Resources Inc. Provides Update on Sirios’ Activities on Its Cheechoo Gold Property Sirios Resources Inc. announce an update on the work recently completed on its Cheechoo gold property. Mechanical stripping and channel sampling; Following the prospecting program completed earlier this summer, three outcrops (figure 1) were mechanical stripped and channel sampled in the area of the metasediments, to the east of the conceptual pit of the Cheechoo gold deposit. A total of 218 samples from 216 meters of channels were sent to the ALS laboratory in Val-d'Or for gold assaying. In this area, metasediments favorable to gold mineralization extend from the tonalite hosting the Cheechoo gold deposit to more than 500 meters to the east. Mineral Resource Estimate Update; The mineral resource estimate update continues as planned. One of the main objectives of this update is to define, for the first time, indicated resources for the Cheechoo gold deposit. This conversion from inferred to indicated resources will increase the robustness of the Preliminary Economic Study (PEA) that will be carried out thereafter. 1-kg Reanalysis program; Following the completion of the reanalysis program, a total of 2,626 1-kg sub-samples were re-assayed at the Actlabs and AGAT laboratories. The reanalysis results show an overall increase of approximately 4% in the gold grade compared to the assays carried out previously on 50 g aliquots of the samples (table 1). These 1-kg samples are considered more representative of the gold mineralization. Therefore, in addition to indicating an increase in the average gold grade, this large number of re-assays increases the confidence in the control of the gold grade of the Cheechoo deposit. For the re-assay program, 1-kg aliquots of reject material were taken from previous core samples and assayed using the “LeachWELL™” method at the AGAT laboratory and using the “metallic sieve” method at the Actlabs laboratory. Following a strict QA/QC program, blanks and certified reference materials were integrated into the sampling sequence. Special certified reference materials (Assay Pills) were used to ensure adequate quality control of the assays on 1 kg of material. Announcement • Jul 29
Sirios Resources Inc. announced that it has received CAD 1.175325 million in funding Sirios Resources Inc. announced a non-brokered private placement of 19,588,749 units at a price of CAD 0.06 per unit for gross proceeds of CAD 1,175,324.94 on July 28, 2022. Each unit consists of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.1 per share for a period of two years from the date of closing. The transaction is subject to approval from TSX Venture Exchange. The securities are being subject to four months and one day hold period. The company did not pay any finders' fee in the transaction. Announcement • Jul 26
Sirios Resources Inc. Announces an Update on the Work in Progress on Its Two Main Projects, the Cheechoo and Aquilon Gold Properties Sirios Resources Inc. announced an update on the work in progress on its two main projects, the Cheechoo and Aquilon gold properties. CHEECHOO: Resource estimate update: Sirios recently awarded consulting firms BBA Inc. and PLR Resources Inc. the mandate for updating the mineral resource estimate. One of the main objectives of this estimate will be to define, for the first time, indicated resources for the Cheechoo gold deposit. This conversion from inferred to indicated resources will increase the robustness of the Preliminary Economic Study (PEA) that will be carried out thereafter. Exploration and development work: Prospecting work was carried out during the months of June and July 2022 in the area to the east of the 2020 conceptual pit in order to extend the new gold zone which was intersected in the meta-sedimentary rocks during the summer 2021 drilling program. A total of 61 samples were collected from this area and are currently awaiting processing at the ALS laboratory in Val d’Or.Representative samples of the Cheechoo gold mineralization were also collected for further metallurgical testing in order to determine the optimal processing procedure for the Cheechoo deposit. Infrastructure improvements: Improvements and renovations to the Cheechoo camp have been successfully completed, increasing the camp's accommodation capacity, which will allow for an increased capability for future exploration and development activities. Finally, improvement work on the project's access road was also successfully completed. The Cheechoo camp is now easily accessible by pickup truck or other light vehicle, which will increase the access and improve the timing of future exploration and development work. AQUILON: Phase 1 of the Aquilon “relogging” program (comprehensive and standardized description of historical drill core) was completed at the end of June. The information resulting from this relogging program will allow new 3D modeling to be carried out that will include the new structural data collected in the fall of 2021. This update of the geological modeling of the Aquilon property represents one of the first stages of a systematic exploration program that will continue into 2024. Announcement • Jun 15
Sirios Resources Inc. Provides Provides on Work Currently in Progress on its Two Main Projects, Cheechoo and Aquilon Gold Properties The management of Sirios Resources Inc. announced an update on the work currently in progress on its two main projects, the Cheechoo and Aquilon gold properties. The update of the Cheechoo geological model including the latest drilling results has been completed. The mandate to update the mineral resource estimate will therefore soon be awarded to an engineering firm. A construction team is currently onsite at the Cheechoo camp to improve the camp infrastructure. These upgrades will increase the accommodation capacity of the camp, thereby allowing to scale-up future exploration and development activities. Another construction team is also onsite to improve the Cheechoo access road, which will increase the efficiency and speed of logistics for coming exploration and development programs. Prospecting work will be carried out during the months of June and July 2022 in the area to the east of the 2020 conceptual pit in order to extend the new gold zone which had been intersected in the meta-sedimentary rocks during the summer 2021 drilling campaign. The meta-sedimentary rocks surrounding the Cheechoo deposit remain a mostly unexplored geological unit to date and will therefore be targeted as a priority this summer. Finally, typical samples of the Cheechoo gold mineralization will be taken in order to carry out new metallurgical tests in order to determine the optimal treatment process for the Cheechoo deposit. Announcement • Apr 21
Sirios Resources Inc. (TSXV:SOI) acquired 69 New Claims Eeyou Istchee James Bay, Quebec. Sirios Resources Inc. (TSXV:SOI) acquired 69 New Claims Eeyou Istchee James Bay, Quebec on April 20, 2022.
Sirios Resources Inc. (TSXV:SOI) completed the acquisition of 69 New Claims Eeyou Istchee James Bay, Quebec on April 20, 2022. Announcement • Mar 03
Sirios Resources Inc. Announces Assay Results from 8 Additional Diamond Drill Holes Totaling 1,619 Metres from the September 2021 Drilling Program on the Cheechoo Gold Property, Eeyou Istchee James Bay, Quebec The management of Sirios Resources Inc. announced assay results from 8 additional diamond drill holes totaling 1,619 metres from the September 2021 drilling program on the Cheechoo gold property, Eeyou Istchee James Bay, Quebec. The most significant results of this drilling are listed below: 3.46 g/t Au over 31.7 m, including 6.50 g/t Au over 6.6 m (CH21-279); 7.69 g/t Au over 9.9 m, including 68.84 g/t Au over 1.0 m (CH21-280); 6.18 g/t Au over 11.4 m, including 46.04 g/t Au over 1.0 m (CH21-280); 7.07 g/t Au over 9.0 m, including 50.40 g/t Au over 1.1 m (CH-288); 3.17 g/t Au over 17.4 m, including 16.74 g/t Au over 2.9 m (CH21-290); 0.85 g/t Au over 57.7 m (CH21-290); 0.78 g/t Au over 38.5 m (CH21-289). Holes #270 and 280 show again the continuity of gold mineralization in the area of the north-eastern contact between the tonalite and the metasedimentary rocks. The gold zones were already intersected by holes RC-01, RC-02, #281 and #285 of the 2021 campaign, with intervals assaying up to 2.83 g/t Au over 55.0 m and 4.90 g/t Au over 22.0 m. Further to the west, from the drill holes with assay results announced, were intersected as expected pluri-metric to deca-metric gold zones with grades varying from 0.4 g/t Au to 1.8 g/t Au, including metric to pluri-metric zones with grades from 3.0 g/t Au up to 50.0 g/t Au. These new diamond drilling results confirm again the continuity of the gold mineralization in the area of the conceptual pit defined in the 2020 Mineral Resource Estimate. This drilling data will be used in the preparation of the next mineral resource estimate for the Cheechoo Project, scheduled to be completed this year and which is expected to include the conversion of a significant amount of inferred resources to indicated resources. The summer 2021 drilling program included 30 NQ-size drill holes and 2 RC holes totaling 6,789 meters. There are still 6 drill holes with pending assay results. Announcement • Feb 10
Sirios Resources Inc. Announces Assay Results from 8 Additional Diamond Drill Holes Totaling 2,025 Metres from the September 2021 Drilling Program on the Cheechoo Gold Property The management of Sirios Resources Inc. announced assay results from 8 additional diamond drill holes totaling 2,025 metres from the September 2021 drilling program on the Cheechoo gold property, Eeyou Istchee James Bay, Quebec. The most significant results of this drilling are listed below: 2.83 g/t Au over 55.0 m, including 97.56 g/t Au over 1.1 m (CH21-285); 2.95 g/t Au over 28.9 m, including 72.36 g/t Au over 1.0 m (CH21-283); 4.12 g/t Au over 12.5 m, including 45.54 g/t Au over 1.0 m (CH21-284); 1.76 g/t Au over 23.8 m (CH21-051E); 2.65 g/t Au over 11.7 m, including 27.35 g/t Au over 1.0 m (CH21-283). These 8 drill holes, located in the central part of the gold-bearing tonalite (the lithology that encompasses the bulk of the Cheechoo deposit), confirm the continuity of gold mineralization in the central portion of the conceptual pit shell, as defined in the 2020 Mineral Resource Estimate. This data will be used in the preparation of the next mineral resource estimate for the Cheechoo Project, scheduled to be completed in 2022, and which is expected to include the conversion of a significant amount of inferred resources to indicated resources. The summer 2021 drilling program included 32 NQ drill holes totaling 6,789 meters. There are still 14 drill holes with pending results. Assay Quality Control: All NQ drill core is logged by Sirios’ personnel at the Cheechoo exploration camp. The drill core is then sent to Rouyn-Noranda to be sawed in half, with one half sent to a commercial laboratory for assaying and other half kept for future reference. A strict QA/QC program is in place by integrating blanks and certified reference standards to the core sample sequence. The samples are assayed for gold by fire assay with an atomic absorption finish by Actlabs. Samples assaying greater than 0.2 g/t Au as well as drill core samples with visible gold are assayed by fire assay with metallic sieve on a 1-kg sample. Special certified reference standards (Assay Pills) were used to ensure adequate quality control of gold assays on 1-kg of material. The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng. president and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo. senior geologist, both qualified persons under National Instrument 43-101. Announcement • Jan 28
Sirios Resources Inc. Names François Auclair as Director Sirios Resources Inc. has closed the previously-announced $1.5 million strategic agreement into the Company through the issue of 21.5 million Sirios common shares. Concurrent with the closing of the financing, François Auclair P.Geo, M.Sc. has joined the Sirios board of directors. Mr. Auclair is a consulting geologist with over 30 years of experience, gained in North and South America, Africa and Europe. Presently, Mr. Auclair is Vice President Exploration of Fancamp Exploration Ltd. Announcement • Jan 18
Sirios Resources Inc. announced that it expects to receive CAD 1.29 million in funding Sirios Resources Inc. announced a non-brokered private placement of 21,500,000 common shares at a price of CAD 0.6 per common share for gross proceeds of up to CAD 1,500,000 on January 17, 2022. The transaction will include participation from strategic private investor for 9.2% outstanding shares of the company. The company not pay finder's fees in the transaction. The transaction has been approved by the board of directors of the company and subject to final approval of the TSX Venture Exchange. All the securities will subject to a hold period of four months and one day. Announcement • Dec 15
Sirios Announces Initial Summer 2021 Cheechoo Drill Results and Provides an Operations Update The management of Sirios Resources Inc. announce assay results of the first ten drill holes, totaling 1,888 metres, of the drilling campaign completed last September on the Cheechoo gold project at Eeyou Istchee James Bay, Quebec. In addition to these results, holes CH21-RC-01, RC-02 and -271 to -274 confirmed the continuity of gold mineralization along the east-northeast edge of the Cheechoo tonalite, at the contact with the meta-sediments. This data will be useful in the upcoming resource estimate for the Cheechoo project that is scheduled for 2022. This updated resource estimate is expected to include the conversion of a significant amount of Inferred resources to Indicated resources. Hole CH21-268 demonstrated the presence of gold mineralization to a depth of over 700 metres along the tonalite/meta-sediment contact, highlighting the potential to expand the deposit at depth. Drill hole CH21-269, which ended in gold mineralization, allows to connect, both laterally and at depth, intercepts previously found in holes -129 and -67. Thus, identifying a new gold bearing zone in a new geological setting (i.e., mineralization hosted within the meta-sediments), located outside the limits of the currently defined Cheechoo deposit. This area will require follow-up in the next drilling program. The 2021 summer drill program included 34 NQ-size holes, for a total of 6,836 metres. Assay results for the remaining 24 holes are still pending. Once these results are received (Q2 2022), an update to the mineral resource estimate will be initiated. The primary objective of this new mineral resource estimate will be to convert Inferred resources into Indicated resources. This resource conversion would significantly increase the value of the Cheechoo deposit by increasing the confidence level in the resource definition. The upcoming mineral resource estimate will form the basis for a Preliminary Economic Assessment (PEA) of the deposit. Announcement • Sep 09
Sirios Resources Inc. announced that it expects to receive CAD 1.5 million in funding Sirios Resources Inc. announced a non-brokered private placement of 15,000,000 units at a price of CAD 0.1 per unit for gross proceeds of CAD 1,500,000 on September 8, 2021. Each unit consists of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.15 per share for a period of 18 months from the date of closing. The transaction is subject to approval from regulatory approval and filings. The securities are being subject to four months and one day hold period. Directors, officers and employees may participate in the transaction. The transaction has been conditionally approved by the TSX Venture Exchange. The company will pay finder’s fee of 6% of the proceeds in the transaction. Announcement • Sep 02
Sirios Resources Inc. announced that it has received CAD 0.787472 million in funding Sirios Resources Inc. announced a non-brokered private placement of 6,562,266 common flow-through at a price of CAD 0.12 per common flow-through shares for a total gross proceeds of CAD 787,472 on September 1, 2021. The company may issue securities in tranches depending on market conditions. The company will pay finders' fees totaling CAD 14,000 were paid to finders' in connection with the transaction. All securities issued pursuant to the transaction are subject to a restricted hold period of four months and a day, ending on January 1, 2022. The transaction remains subject to the final approval of the TSX Venture Exchange. Announcement • Aug 28
Sirios Resources Inc. Announces Results from the First Batch of Reanalysis Completed on Samples from Previous Drilling on the Cheechoo Gold Property in Eeyou Istchee James Bay, Quebec The management of Sirios Resources Inc. announced results from the first batch of reanalysis completed on samples from previous drilling on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. A total of 359 samples were reanalyzed using 1 kg of material per sample at Agat's laboratory using the "LeachWELL" leaching technique. The recent assay results show an increase in the gold content of approximately 15% compared to previous assays performed on 50g of material. The comparative statistical data obtained include: 21% Increase in average gold content when comparing each pair of assay results, 15% Increase in median gold grade from 0.33 g/t to 0.38 g/t, 17% Increase in favour of 1 kg analyses according to the linear trend line of the Q-Q (quantile-quantile) graph. The average gold grade reported in the table above (0.51 g/t /0.53 g/t) is lower than the current reported grade of the Cheechoo mineral resource estimate (0.65 g/t). This decrease is due to the selection of samples for reanalysis that excludes most of the pre-existing results above 2 g/t Au, as these samples have already been analysed using 1 kg of material according to Sirios’ sampling protocol in place for Cheechoo. The lower gold grade threshold for selecting samples for reanalysis using 1 kg of material was set at 0.2 g/t in order to be as close as possible to the mineral resource estimate cut-off grade defined for the project. Previous work had identified that samples returning greater than 2 g/t gold show an increase in the gold content when assaying with 1 kg of material. Samples with a gold grade ranging between 0.2 g/t and 2 g/t make up approximately 38% of the total number of samples used in the current resource estimation and therefore represent a major part of the reanalysis program. This program is based on recommendations from Lynda Bloom, P.Geo. with Analytical Solutions Ltd., a leading authority in the field of exploration geochemistry and assay methods. The recommendations included using a larger sample size for assays, followed by a statistical study conducted by Sirios' geologists. Results of this study indicate that the measured gold content based on 1 kg samples is generally higher and more representative of the true gold grade than the sample analyzed with 50 g of material, which is more commonly analysed in the laboratory. This relationship between the measured gold content and the size of the analyzed sample is consistent with the mineralogical observations and data from the various metallurgical tests previously performed by Sirios and is typical of other deposits with a pronounced “nugget effect”. Announcement • Feb 04
Sirios Resources Inc. Announces Results of Metallurgical Tests That Were Performed on Approximately 500 Kg of A Composite Sample Material, Representative of Gold Mineralization on the Cheechoo Property Sirios Resources Inc. announced the results of metallurgical tests that were performed on approximately 500 kg of a composite sample material, representative of gold mineralization on the Cheechoo property. These tests, performed by the renowned firm KCA over several months in Reno, Nevada, were completed in January 2021. After 151 days of column leaching, with a crushing size of 6.3 mm, gold recoveries were 80% at 20°C and 76% at 4°C (Table 1). The tests were conducted at various temperatures to simulate conditions that could be encountered in an environment simulating crushed and stacked mineralized material in the Cheechoo Project area. The average gold recovery results obtained were 78%, which is higher than the typical gold recoveries for heap leach projects (55-75%) according to the Canadian Mining Journal. Announcement • Dec 23
Sirios Resources Inc. Files the NI 43-101 Report of the Resources Estimate Update for the Cheechoo Gold Project in Quebec Sirios Resources Inc. announced that Sirios has filed on SEDAR the technical report titled "Mineral Resource Estimate Update for the Cheechoo Project Eeyou Istchee James Bay, Québec, Canada", with an effective date of October 31st, 2020. The report, in compliance to the NI 43-101 standards and completed for the company by BBA Inc., h the resource estimate update of the Cheechoo gold project, located at Eeyou Istchee James Bay at Quebec. The updated resource shows an increase of 355,000 ounces of gold compared to its initial resource estimate, representing an increase of 22%. The report indicates that, based on an open-pit constrained model, the inferred resources are estimated at 1.955 million gold ounces (Moz) contained in 93.0 million tonnes (Mt) with an average grade of 0.65 grams of gold per tonne (g/t Au). Announcement • Dec 19
Sirios Resources Inc. announced that it has received CAD 0.520499 million in funding On December 17, 2020, Sirios Resources Inc. (TSXV:SOI) closed the transaction. The company issued 3,469,996 shares for gross proceeds of CAD 520,499.4. The warrants will expire on June 13, 2022. Announcement • Dec 18
Sirios Resources Inc. announced that it has received CAD 3.43059 million in funding On December 16, 2020, Sirios Resources Inc. (TSXV:SOI) closed the transaction. The company received CAD 3,430,590 in the transaction. The company issued 7,395,556 additional Quebec flow-through units for the gross proceeds of CAD 1,331,200.08 and 4,200,000 additional national flow-through units for the gross proceeds of CAD 714,000 in its second and final tranche. All securities issued pursuant transaction are subject to a hold period of four months and a day, ending on April 17, 2021. The transaction has been conditionally approval from the TSX Venture Exchange and remains subject to the final approval of the TSX Venture Exchange. The company paid intermediation fees of CAD 122,442 to intermediaries in connection with the second tranche of the transaction. Announcement • Nov 27
Sirios Resources Inc. announced that it expects to receive CAD 2.1 million in funding Sirios Resources Inc. (TSXV:SOI) announced a non-brokered private placement of 14,000,000 units at a price of CAD 0.15 per share for gross proceeds of CAD 2,100,000 on November 26, 2020. Each unit consists of one common share and one-half warrant. Each warrant will entitle its holder thereof to subscribe for one common share at CAD 0.23 per share for a period of 18 months after the closing date of the private placement. The transaction will include participation from accredited investors and may include participation from directors, officers, and employees of the company. The company may pay finder's fee of up to 6 % of the total amount. The shares issued are subject to hold period of four months and one day. TSX Venture Exchange has conditionally approved the transaction and is subject to regulatory approval and filings. Announcement • Nov 18
Sirios Announces Significant Increase in Its Resource Estimate for the Cheechoo Gold Project Sirios Resources Inc. announced the updated resource estimate for the Cheechoo gold property, 100% owned by Sirios, located in Eeyou Istchee James Bay, Quebec. Following last winter's drilling campaign totaling 5,237 m, an updated resource estimate added an additional 355,000 ounces of gold to its initial resource estimate, representing an increase of 22%. The new resource estimate for this open-pit model includes an inferred resource of 1.96 million ounces of gold, contained in 93.0 million tonnes at an average grade of 0.65 grams of gold per tonne. The mineral resource estimate was been prepared by consulting firm BBA Inc. in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards incorporated by reference in National Instrument 43-101. The estimate is based on data from 295 diamond drill holes totaling 67,652 metres and 385 channel samples totalling 3,214.88 metres which were completed by Sirios between 2012 and April 2020. Announcement • Sep 23
Sirios Resources Inc. Announces Assay Results from the Seven Drill Holes Completed Last July on the Aquilon Gold Property At Eeyou Istchee James Bay, Quebec Sirios Resources Inc. announced assay results from the seven drill holes completed last July on the Aquilon gold property at Eeyou Istchee James Bay, Quebec. More than thirty high-grade surface gold showings occur on this property, including some with spectacular gold grades. Numerous shallow drill holes were completed on the property over the years (205 holes totaling 12,247 m), with the majority of this work concentrated on four of the showings when the project was managed by its partners. Sirios reacquired full ownership of Aquilon in 2016, at which point they initiated and continue to revise the exploration strategy on this property, which is ranked internally as having an excellent discovery potential. Moman /Fleur de lys Area: Drill hole #108 intersected 4.65 g/t Au over 6.9 m, including 10.3 g/t Au over 2.9 m, extending the Moman showing for more than 175 m laterally to the area of the Fleur de lys showing. This drill hole allows for the first time to spatially connect these two showings, each composed of a main high-grade gold vein and gold halos encompassing others veins and veinlets. An intercept of 4.36 g/t Au over 1.2 m in hole #105, is related to a zone located approximately 15 meters above the Moman vein. Lingo Area: The Lingo-3 West Vein with visible gold was intersected at depth by drill hole #106, which assayed 1.43 g/t Au over 1 m. This extends the vein by 60 m, for a total length of approximately 300 metres down plunge from surface along the mineralization axis. Other exploration targets: In addition to lode-type mineralization (quartz veins) intersected in the Moman/Fleur de lys and Lingo showing areas, gold mineralization was also associated with semi-massive to disseminated sulphides, similar to the surface SLD showing, and observed in drill hole #109. The drill hole intersected an interval of disseminated sulphides which assayed 4.63 g/t Au over 1 m, as well as another anomalous zone of 0.16 g/t Au over 21.4 m hosted in a tonalite containing less than 5% of disseminated sulphides (pyrite, pyrrhotite). The results of this drilling campaign have improved understanding of the gold mineralization model. Compilation work continues with reinterpretation of the historical data, supplemented by the new drilling results, in order to generate new exploration targets. In addition, 643 soil samples (humus) collected this summer in the central area of the property are currently being assayed. The results of this survey could develop new targets. Finally, the seven drill holes of this campaign, totaling 1,414 metres, was the first phase of a larger 10,000-metre program that could be completed in the future. 