Sterling Metals Discovers High Grade Polymetallic Mineralization, Expands Drill Program and Earns 100% Ownership of the Sail Pond Silver and Base Metal Project

TORONTO, ON / ACCESSWIRE / September 27, 2021 / Sterling Metals Corp. (TSXV:SAG) ("Sterling Metals" or the "Company") is pleased to report the first assays from its maiden drilling program on the Silver-Copper-Lead-Zinc Sail Pond Project ("Sail Pond" or the "Project") located on the Great Northern Peninsula of Newfoundland, Canada. The company completed 16 drill holes in its Phase 1 program and from the data gathered launched a Phase 2 program focused on the South Zone of the Project. The first and only series of assay results the company has received to date from its Phase 2 program pertain to hole SP-21-018 and include the following highlights:

• 73.84 g/t AqEq over 11.1 m, including 1,096.59 g/t AgEq over 0.25 m
• 97.56 g/t AgEq over 10.05 m, including 1,854.02 g/t AgEq over 0.4 m
• 91.18 g/t AgEq over 14.6 m, including 895.86 g/t AgEq over 0.25 m.

Further results from drilling are presented in Table 1, including results for Phase 1 hole SP-21-008 that intercepted up to 1.05 m of 649.77g/t AgEq, including 0.55 m of 1039.63g/t AgEq and from hole SP21-004 that intercepted 7 m of 84.57g/t AgEq. Downhole meterages for all intervals noted above are included in Table 1. Images of high grade polymetallic drillcore from the Project appear in Figure 1 and drillhole locations are presented in Figures 2 & 3.

The company is also pleased to announce an expansion of its current drilling program from 7,500 to 8,500 metres, which will target extensions of visually identified, well developed polymetallic mineralization present in hole SP-21-018. Sterling has now completed 36 drill holes and has 3,110 core samples in total awaiting analysis at the Eastern Analytical Limited laboratory in Springdale, Newfoundland. The Company is also pleased to announce that is has completed it's earn-in requirements from Altius Resources Inc. to gain 100% ownership of the Sail Pond Project.

Mathew Wilson, CEO of Sterling Metals, commented: "This is a very exciting discovery and confirms that the Sail Pond Project has the potential to host a significant silver-bearing polymetallic mineral deposit. With a treasury of $3 million and assays for tens of holes still to come, the company is in a very strong position as we advance our exploration at our now 100% owned Sail Pond Project."

Kelly Malcolm, technical advisor to Sterling Metals, commented: "As we continue to advance the geological understanding of the polymetallic Sail Pond Project, our targeting and significant hit ratio has become much more consistent. We have been seeing thicker concentrations of polymetallic sulfide mineralization proximal to the footwall contact of the host rock sequence. We're looking forward to receipt of many assays from our Phase 2 drilling program as we continue to advance this unique silver and base metal project in mining-friendly Newfoundland."