Sokoman Minerals Signs LOI with Campden Hill Holdings Pty Ltd on the Iron Horse Property, Labrador

ST.JOHN'S, NL / ACCESSWIRE / April 4, 2024 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") is pleased to report that pending TSX Venture approval it has agreed, pursuant to a Letter of Intent (LOI) with Australian-based, private company Campden Hill Holdings Pty Ltd (Campden Hill), to provide Campden Hill with an option to purchase the Iron Horse property (the "Property") from Sokoman Minerals Corp. Campden Hill is controlled by an investment group with experience in mineral exploration and investment in multiple jurisdictions globally, including more than a decade in investing across various commodities in Canada.

The Property is in the eastern portion of the Labrador Trough, Canada's most prolific iron ore producing region. The Property is host to significant iron deposits and has critical mineral showings of uranium and rare earth elements (REEs).

The Property was staked in 2011 as a joint venture between Golden Dory Resources (now Sokoman Minerals Corp.) and Metals Creek Resources ("Metals Creek") to evaluate the uranium potential of the area. Initial prospecting identified iron ore potential, and in 2012, Sokoman acquired 100% ownership (subject to net smelter return royalties) from Metals Creek. Diamond drilling (eight holes) testing the iron ore potential intersected significant thicknesses of iron mineralization as taconite, including a 354 m intercept grading ~28% Fe. Direct Shipping Ore (DSO) potential was also noted, with assays of 53% Fe from parts of the Property. Following the extended decline in iron ore prices over the past decade, the iron ore exploration was ended and the Property was placed on care and maintenance as a non-core asset.

Timothy Froude, P. Geo., President and CEO of Sokoman, states: "We are happy to have found a quality partner for the Iron Horse project. We look forward to working with Campden Hill, including offering logistical and technical support, to evaluate and advance the Property. This transaction allows Sokoman to remain focused on its flagship gold projects at Moosehead and Fleur de Lys and continue its strategy of finding quality partners to share the risk and reward on its other holdings. This strategy follows the recent deal for the former Golden Hope Project (now Killick Lithium) and four other property deals with various partners across Newfoundland."