Sokoman Announces Additional High-Grade Results from the Moosehead Project, Central Newfoundland - Seite 2

South Pond

MH-21-152 – 3.00 m of 1.82 g/t Au, including 0.70 m of 3.08 g/t Au from 15.00 m downhole
MH-21-153 – 3.00 m of 1.61 g/t Au, including 1.60 m of 2.40 g/t Au from 12.00 m downhole

Drilling at South Pond has discovered a second mineralized structure (Z-2) approximately 50 m east of the initial zone (Z-1). Drill holes MH-21-152 and 153, the furthest holes south and east, both intersected shallow, near-surface shearing and veining similar in style and mineralogy (boulangerite, arsenopyrite, sphalerite) to higher-grade intersections at Moosehead. Although returning lower-grade results (no VG noted), the overall vein style and mineral assemblage are indicative of the high-grade veining intersected in previous holes at South Pond including MH-20-123 (5.00 m of 26.87 m) and MH-21-141 (4.20 m of 64.00 g/t Au). With only two closely-spaced holes cutting Zone Z-2, and an aggressive 9,000 m program proposed for the South Pond area, Sokoman believes that additional high-grade mineralization will be found in this area. Drilling will begin immediately.

Tim Froude, President and CEO of Sokoman, says: “We are extremely pleased with the results from the Footwall Splay/Eastern Trend as they demonstrate good continuity and grade, and provide a firm foundation for additional drilling in the area from our barge-based program to begin later this summer. At South Pond, a second mineralized structure intersected in the two eastern-most holes (MH-21-152 and 153) is shallow, just 5-10 m below surface and exhibits vein mineralogy consistent with high-grade zones with visible gold encountered in earlier South Pond drill holes, as well as in other zones on the property. As we have previously seen on the property, grade variability is expected when dealing with nuggety mineralization as represented by visible gold. With 38,000 m left to drill in the ongoing Phase 6 program, and four drills on the property later this summer, we are confident we will achieve our goals of enlarging the known zones along strike and to depth and also making additional discoveries at Moosehead. As of today, drilling has resumed with two rigs, one at South Pond and the other at the Footwall Splay/Eastern Trend area.”