Sorrento Corporate Update
SORRENTO RESOURCES LTD.
NEWS RELEASE
CORPORATE UPDATE
VANCOUVER, BRITISH COLUMBIA, September 5, 2023 – SORRENTO RESOURCES LTD. (the
“Company”) (CSE: “ SRS”, OCTQB: “SRSLF”) is pleased to announce that in connection with the
completion of the Company’s 2023 financial year end, the Company has determined to issue as compensation
to its independent directors 75,000 shares each for an aggregate of 225,000 shares issuable all at a deemed
price of $0.19 per share (the “Compensation Issuance”). All of the securities issuable will be subject to resale
restrictions under the policies of the CSE expiring four months and one day from the date of issuance, which
is expected to occur on September 12, 2023.
The participation in the Compensation Issuance by insiders of the Company constitutes a "related party
transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61 -101"). The Company is relying on exemptions from the formal
valuation and minority approval requirements under MI 61-101. The Company relied on Section 5.5(a) of
MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for
an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of
the Compensation Issuance did not exceed 25% of the Company's market capitalization.
About the Company
The Company is engaged in acquisition, exploration and development of mineral property assets in Canada.
The Company’s objective is to locate and develop economic precious and base metal properties of merit
and to conduct its exploration program on the Wing Pond Property. The Wing Pond Property is located
roughly 40 km east-northeast of Gander, Newfoundland, Canada, in Central Newfoundland.
For more information, visit https://sorrentoresources.ca/.
ON BEHALF OF THE BOARD OF DIRECTORS
Brayden R. Sutton
President and Chief Executive Officer
604-290-6152
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that
are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections,
objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Project acquisition bringing
a low-risk opportunity to drive significant value to the Company, the Company building a portfolio of strong properties that will
continue to deliver shareholder value and the Company continuing to build a robust and diverse critical minerals portfolio of projects
are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with
respect to the Project and its mineralization potential; the Company’s objectives, goals or future plans with respect to the Project; the
commencement of drilling or exploration programs in the future and their expected completion dates. These forward-looking
statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-
looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the
Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the
forward-looking statements. These factors should be considered carefully and r eaders are cautioned not to place undue reliance on
such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the
date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or informatio n,
whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT
OF THIS PRESS RELEASE.