Sienna Resources Inc Proposes to Increase Placement up to $2.5 million for Cobalt Project Development
Sienna Resources Inc Proposes to Increase Placement up
to $2.5 million for Cobalt Project Development
Vancouver, British Columbia--(Newsfile Corp. - January 4, 2018) - Sienna Resources (TSXV: SIE) (FSE: A1XCQ0) (OTC Pink:
SNNAF) is proposing to increase the non-brokered private placement originally announced December 18, 2018 to now consist
of up to twelve million five hundred thousand units at 20 cents per unit for gross proceeds of up to $2.5 million. Each unit will
consist of one common share in the capital of the company and one transferable share purchase warrant, exercisable at 30
cents for a period of five years. The private placement is subject to approval of the TSX Venture Exchange and was previously
announced December 18, 2017.
Please refer to that placement.
If you are an existing security holder or qualified person with respect to the existing security holder exemption or the investment
dealer exemption noted above and you have interest in this offering, please call or e-mail the company.
Any questions or inquires about this placement please call President Jason Gigliotti directly at 604 646 6900 or toll free 1 855
646 6901 or email
and the website is
www.siennaresources.com
About Sienna Resources Inc.:
Recently Sienna received TSX Venture approval to go forward into an exploration and option agreement to acquire the Slättberg
Cobalt-Nickel-Copper Project in Sweden (the "Project"). The Project consists of two adjacent exploration permits comprising
approximately 9513 contiguous acres.
Jason Gigliotti, president of Sienna, states, "We are very pleased to receive approval for this exciting cobalt-nickel-copper
prospect.
Cobalt prices have just crossed fresh nine year highs as of yesterday, and we look forward to advancing this prospect.
There are 12 historic mines on this property and with modern mining approaches, we are very optimistic about what this project
could contain.
We expect to be drilling early 2018 as the project is drill ready now."
Northvolt is planning to be the largest battery factory in Europe at roughly the same size as Tesla's Gigafactory. Jason Gigliotti
states "Northvolt wants to locally source as much battery material as possible such as cobalt and nickel. There are now more
than 20 mega battery factories currently being planned or constructed globally, creating a massive demand on the battery metals
such as lithium, cobalt and nickel. Sienna is focused on exploring and developing projects that will meet this insatiable demand."
Slättberg is located 25 kilometers northwest of Falun, Sweden. Slättberg is a historic mining camp hosting cobalt-nickel-copper
rich massive sulfide mineralization that occurs within a two kilometer belt of historic nickel-copper mines. The Project contains
drill defined massive sulfide mineralization that extends to ~100 meters in depth, and remains open for expansion at depth and
along strike.
The Project is accessible year round, with nearby rail, power and 5 smelters in the Nordic region.
At least 12
historic mines are located on the property, with historic operations dating back to the late 1800's.
Geophysics and Target Map
To view an enhanced version of the Geophysics and Target Map, please visit:
http://orders.newsfilecorp.com/files/854/31754_a1515104182764_79.jpg
Mineralization at Slättberg is hosted by 1.8-1.9 Ga (Svecofennian) supracrustal rocks (metavolcanics and metasediments)
located along the southwestern flank of a large gabbroic intrusive complex. The historic mines are positioned along an east-west
trend of massive sulfide occurrences developed in and around a similarly oriented body of "leptite". This is a local term used to
describe rhyolitic/felsic tuffaceous rocks commonly associated with sulfide mineralization in Bergslagen. Mafic and ultramafic
rocks also occur in and around the mine workings.
Sweden is at the forefront of an exploration and development boom in the mining industry. The country's favorable business
environment includes a low corporate income tax rate, a proactive geological survey, and broad public support for export-led
resource extraction. Sweden has a long history of mining, and is host to some of Europe's largest active mines.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National
Instrument 43-101.
Sienna has launched its new corporate website and branding.
Please visit the site at
www.siennaresources.com
If you would like to be added to Sienna's email list please email
for information or join our twitter
account at
@SiennaResources
Contact Information
Tel:
1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
"Jason Gigliotti"
President, Director
Sienna Resources Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.