Sokoman Minerals Drilling Update - Moosehead Gold Project, Central Newfoundland

A New Mineralized Structure, the 552 Zone, Intersected in Four Holes; Remains Open

ST. JOHN'S, NL / ACCESSWIRE / November 2, 2023 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) is pleased to provide an update on the ongoing drilling program at the 100%-owned Moosehead project. Diamond drilling has identified a new mineralized structure 200 m to the east of the Eastern Trend, the furthest east of any mineralization located to date. Dubbed the 552 Zone, after the first hole that cut it, it has an apparent east-west strike, making it close to perpendicular to the Eastern Trend, suggesting that it lies in a similar structural setting as the 463 Zone but above the Eastern Trend, in the hanging wall, whereas the 463 Zone lies in the footwall of the Eastern Trend.

Tim Froude, President and CEO of Sokoman, says: "While not exhibiting high grade to date, the fact that the 552 Zone structure has gold in it is good news as we know we can get variable grades interspersed with higher grades in all zones at Moosehead. On this property, we drill first for structure and then seek out the grade. I am extremely pleased with this development since we see sulphide minerals, commonly associated with the higher-grade Au, including boulangerite and sphalerite and we are looking forward to evaluating this new zone. The presence of gold-bearing structures in MH-23-555 is also very significant as it is a wide step-out hole and confirms the presence of mineralizing fluids in this area and extends the Eastern Trend to the east. We expect to go over the 100,000 m mark in the ongoing Phase 6 program sometime this month and look forward to continued drilling at Moosehead."

The mineralized quartz 552 Zone has been intersected in all four holes (552, 553, 556, and 557) completed, with assays received for three of the four. Boulangerite and sphalerite, minerals associated with Au on the Moosehead property, are noted. The best grade intersected to date is 1.41 g/t Au over 2.9 m in DDH 553 with 1.15 g/t over 2.95 m in DDH 552. The 552 Zone has been tested by two sections of two holes each drilled from the same setup giving a 10-m strike-length, over a vertical range of approximately 25 m. The drilling tested a resistivity high noted in the winter Alpha IP survey with several second-order targets also identified in the general area. A Noranda float sample from the late 1980s, that assayed 10.3 g/t Au, is located close to the 552 Zone. The 552 Zone remains open with approximately 2500 m of drilling planned to test along strike and to depth.