Sirios Signs an Option Agreement for its Maskwa Property
TSX-V: SOI December 21, 2023
OTCQB: SIREF
Sirios Signs an Option Agreement for its Maskwa Property
MONTREAL (QUEBEC) – Management of SIRIOS RESOURCES INC. (TSX-V: SOI,
OTCQB:SIREF) (“Sirios”) is pleased to announce the signing of an option agreement on the
Maskwa property located in Eeyou Istchee James Bay in Quebec, with Hertz Lithium Inc. (“Hertz”)
(CSE: HZ). Pursuant to the agreement, Sirios has agreed to grant Hertz the option to acquire up to
a 100% interest in the lithium/gold property, following an investment totaling $2.55M as described
below.
If the option is completed, Sirios will retain a 1.5% NSR royalty. In addition, Sirios will keep the
right to buy back 100% of the mining rights on the non-critical minerals, which comprise among
other metals, gold, silver and PGE (Platinum Group Elements) and tungsten, by paying back to
Hertz its incurred exploration expenditures capped to a maximum of $2M.
Pursuant to the agreement, Hertz can earn 100 percent interest in Maskwa over three years by
spending a total of $2.25 million in mineral exploration expenditures, by making a cash payment
on or before the first anniversary of $100,000 plus $100,000 in cash or in shares plus $100,000 in
cash on closing. In addition, Sirios will receive a payment of $250,000 either in cash or in shares
upon the successful confirmation of drilling results indicating a lithium concentration of one
percent (1%) Li2O or more over a minimum of twenty-five (25) metres.
About Sirios
Sirios is a Canadian mining exploration company focused on developing its portfolio of high-
potential gold and lithium properties in the Eeyou Istchee James Bay region of Quebec.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable
Canadian securities laws based on expectations, estimates and projections as of the date of this
press release. Forward-looking statements involve risks, uncertainties and other factors that could
cause actual events, results, performance, expectations and opportunities to differ materially from
those expressed or implied by such forward-looking statements. Factors that could cause actual
results to differ materially from those indicated in such forward-looking statements include, but
are not limited to: the exercise of the options by Hertz, uncertainties related to the availability and
cost of necessary financing in the future, changes in financial markets; delays in project
development; other risks relating to the mineral exploration and development industry; and risks
disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company
believes that the assumptions and factors used in preparing the forward-looking statements
contained in this news release are reasonable, readers should not place undue reliance on this
information, which speaks only as of the date of this news release, and there can be no assurance
that such events will occur or occur within the time periods presented. 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 required by applicable law.
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 release.
-30-
Contact:
Dominique Doucet, P.Eng., President and Chief Executive Officer
450-482-0603
Website: www.sirios.com