Sierra enters into definitive agreement with Primus
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For Immediate Release
Sierra Enters Into Definitive Agreement with
Primus Resources on Three Nevada Properties
Surrey, British Columbia, March 15, 202 1, Sierra Growth Corp. (the “ Company” or “ Sierra”) (CSE:
SGRO) (OTC: SIERF) (FSE: F9IQ) has entered into a definitive agreement with Primus Resources (“Primus”),
a Nevada-based privately held co mpany, whereby Sierra has secured the rights to earn an 100% interest in 3
epithermal gold -silver projects in the State , one of which also has porphyry and/or skarn copper-silver-
molybdenum potential (collectively the “ Projects”). The completion of this agreement with Primus secures a
position for Sierra within active exploration centers in Nevada, a Tier 1 mining jurisdiction.
About the Primus Properties
Glitra/Sat
The Glitra/Sat claims are located in Pershing County, western Nevada, in the Seven Troughs Range of the Farrell
Mining District, which hosts numerous historical and modern‐day mineral occurrences and deposits (Figure 1).
The properties are 45 kilometers northwest of Lovelock, a fully serviced town on Interstate 80, and are accessible
via paved and well‐maintained gravel and dirt roads. Both the Glitra and Sat property have seen historical small‐
scale mining and modern‐day exploration, most recently in the 1980’s and early 1990’s , when trenching and
limited shallow RC drilling was undertaken. A number of known gold showings with attractive epithermal -
style alteration and veining occur on the property. They are commonly associated with felsic dikes and lie along
a mineralized trend that links the historical Seven Troughs mining area immediately south (Timberline
Resources), with the Wildcat property (Waterton Global Resource Management) immediately north. At Sat, an
extensive and high -tenor gold-in-soil geochemical anomaly lies along a sub -parallel trend. It was outlined by
previous operators and is similarly associated with epithermal -style alteration and local veining. The total area
encompassed by the Glitra and Sat properties equals roughly 1130 acres.
B&C Springs/Mildred
The B&C Springs property and the nearby Mildred claims and historic Mildred mine are located in the southern
Paradise Range in west -central Nevada within the Fairplay Mining District, which is readily accessible from
nearby Hawthorne or Tonopah via highways and well-maintained gravel roads and off -road trails ( Figure 1).
Exploration at B&C Springs was previously focused on skarn and vein occurrences hosting molybdenum, copper,
and silver, which were interpreted to be genetically associated with Triassic-Jurassic intrusions such as the nearby
Buzzard Peak stock. B&C Springs hosts a historical but non -43-101 compliant molybdenum-copper resource of
approximately 100 millio n tons at a grade of 0.048% molybdenum and 0.07% copper that lies at depth (Tribe
2007). Historical workings are ubiquitous across the property, and on the contiguous Mildred property, precious
metals mineralization within the host sedimentary rocks is associated with calc-silicate horizons, fault zones and
dikes of probable Tertiary age , and the possibility that a secondary epithermal event has overprinted an earlier
porphyry/skarn mineraliz ing event will be evaluated. The area encompassed by the B&C Springs -Mildred
properties total approximately 1450 acres.
Betty East
The Betty East property is located in west-central Nevada, approximately 40 miles north of the town of Tonopah,
in Nye County . The claims, which cover 403 acres, lie at the southern end of the Manhattan Mining District,
immediately north of Liberty Gold’s Baxter Springs project and less than 20km south of the world class Round
Mountain mine (2020 go ld equivalent production of 324,277 ounces , proven and probable reserves as of
December 31, 2020 of 2.245M oz Au , and >15 million ounces of total production 1). Work on the Betty East
property by Nevada Goldfields in the 1990’s outlined a north-northwest trending gold-mineralized zone on the
1. https://kinrossworld.kinross.com/en/location/round-mountain/ (Mineralization hosted on adjacent and/or nearby
properties is not necessarily representative of mineralization hosted on the Company’s properties.)
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core claims that coincides with a number of historical pits, shallow shafts, and adits—this trend will be the initial
focus for the Betty East exploration program. The property is readily accessible from Tonopah via state highway
376 and a network of well-maintained gravel roads.
Figure 1. Simplified geologic map of Nevada, showing broad mineralized corridors and locations of the Betty East, Glitra/Satellite and
BC Springs/Mildred properties
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Summary of Terms (US dollars)
Under the terms of the agreement Sierra will make the following cash and share payments and work commitments
to Primus.
Glitra/Sat
Term Cash Payments Work Commitments Share Payments
At closing $40,000 (paid) n/a
1st Anniversary $40,000
2nd Anniversary $50,000 $75,000 100,000 shares
3rd Anniversary $50,000 $150,000 100,000 shares
4th Anniversary $50,000 $225,000 100,000 shares
5th Anniversary $50,000 $350,000 100,000 shares
6th Anniversary $395,000
Totals $675,000 $800,000 400,000 shares
B&C Springs/Mildred
Term Cash Payments Work Commitments Share Payments
At closing $15,000 (paid) n/a
1st Anniversary $20,000
2nd Anniversary $30,000 $75,000 100,000 shares
3rd Anniversary $40,000 $150,000 100,000 shares
4th Anniversary $50,000 $225,000 100,000 shares
5th Anniversary $50,000 $350,000 100,000 shares
6th Anniversary $295,000
Totals $500,000 $800,000 400,000 shares
Betty East
Term Cash Payments Work Commitments Share Payments
At closing $20,000 (paid) n/a
1st Anniversary $25,000
2nd Anniversary $30,000 $75,000 100,000 shares
3rd Anniversary $50,000 $150,000 100,000 shares
4th Anniversary $50,000 $225,000 100,000 shares
5th Anniversary $50,000 $300,000 100,000 shares
6th Anniversary $275,000
Totals $500,000 $750,000 400,000 shares
NSR
Under the terms of the agreement, Primus will receive a 2.0% Net Smelter Return (“NSR”) with buydown
provisions as follows:
• Betty East; one-half of the NSR representing 1% purchasable for $1.5 million
• Mildred/B&C Springs; one-half of the NSR representing 1% purchasable for $2 million
• Glitra/Sat; one-half of the NSR representing 1% purchasable for $2 million
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Next Steps
Starting in April 2021, Sierra plans to commence Phase I of its proposed systematic work program on the
properties, likely beginning at the Glitra/Sat project. The initial e xploration work will begin with geological
mapping, prospecting, and soil geochemistry (initially using a portable XRF) , and will be succeeded by an
airborne magnetic survey and gr ound geophysics (Induced Polarization). The objective of the work will be to
delineate drill targets , with a plan to do follow -up with first-pass RC drilling as soon as permits have been
received.
Upon Completion of Phase I exploration at Glitra/Sat, the geological team will proceed to the B&C Springs or
Betty East properties to begin exploration of a similar fashion.
Technical data pertaining to this new release was reviewed and approved by Charles J. “Char lie” Greig, MSc.,
P.Geo., a qualified person under National Instrument 43-101.
ON BEHALF OF THE BOARD
“Sonny Janda”
Sonny Janda, Director
For further information on the Company, please contact Sonny Janda, Director, Telephone: 604-357-3741 or at
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including
without limitation, statements that address the timing and content of certain agreements and development. Forward -looking statements address future
events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered
reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties
and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at
all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially
from those in forward looking statements include Covid-19 restrictions, market prices, exploitation and exploration successes, the timing and receipt of
government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers
are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com.
Investors are cautioned that forward -looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put
undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward- looking statements included in this news
release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”