Sienna Resources Acquires the Marathon North Palladium Property Bordering Generation Mining Limited in Northern Ontario

VANCOUVER, British Columbia, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Sienna Resources Inc. (SIE—TSX.v) (A1XCQ0 –FSE) (SNNAF—OTCBB) (the “Company”) is pleased to announce that it has acquired the Marathon North Palladium Property in Northern Ontario directly bordering Generation Mining Limited’s (GENM: CSE) Marathon Palladium Project. This new project encompasses approximately 2,500 acres. According to Generation Mining’s webpage, the Marathon deposit is ‘one of’ the largest undeveloped platinum group metal mineral resources in North America hosting several PGM-Copper deposits, including the 7.1 million ounce palladium-equivalent Marathon Deposit. On January 6, 2020, Generation Mining Limited released a preliminary economic assessment (PEA) giving Marathon an after-tax net present value (NPV) of $871 million.

Jason Gigliotti, President of Sienna states, “We are extremely pleased to be able to acquire a large block of land directly bordering one of the largest palladium deposits in North America. This is an excellent complement to our platinum-palladium-nickel project in Sweden. Platinum and palladium prices have been some of the best performing metal prices recently, especially palladium, which is right near an all-time high. The timing for our new platinum-palladium project acquisition could not be more opportune. We are formulating plans to commence operations as soon as possible on our Marathon North Palladium Project and concurrently expecting to restart drilling in Sweden on our platinum-palladium-nickel Slättberg project. We had positive drilling on the last phase and have used that data to zero in on the best targets. Sienna is partnered with the NYSE’s EMX Royalty Corporation (EMX: NYSE) on this project, who are one of the most respected companies in mining. We feel that there is a massive demand and appetite for platinum and palladium assets and Sienna’s goal is to be a significant player in this arena in 2020.”

Sienna conducted a two-hole drill program in October 2019 at its Slättberg project in southern Sweden. That program targeted two electromagnetic (“EM”) anomalies detected by downhole surveys performed at the end of the 2018 drill program. One was detected in the vicinity of drill hole SIE-18-006 located at the west end of the trend of historic nickel mines, and one in the vicinity of drill hole SIE-18-003, near the center of the trend of mineralization (see Fig. 1).