Sokoman Advised That Killick Lithium Project Announces Academic Research Partnership with Research Grants Awarded Totaling $1.32 Million over 3 Years
Sokoman Advised That Killick Lithium Project Announces Academic Research
Partnership with Research Grants Awarded Totaling $1.32 Million over 3 Years
St. John’s, NL, June 19, 2024 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF)
(“Sokoman” or the “Company”) is pleased to report that the Killick Lithium Property, jointly
owned by the Company, Benton Resources Inc. ("Benton "), and Piedmont Lithium Inc.
("Piedmont") through Vinland Lithium Inc., will be collaborating in a total of $1.322
million in NSERC (Natural Sciences and Engineering Research Council of Canada) grants
to conduct research studies on the Killick Lithium Property in southern Newfoundland. The
three -year project entitled : "The origin of lithium resources in Southern Newfoundland",
began April 1, 2024. The work is led by researchers from St. Francis Xavier University in
Nova Scotia and Memorial University of Newfoundland. Additional contributions from
partner organizations will include staff and resources from Sokoman, Benton and
Piedmont, as well as geoscientists from the Geological Survey (Government of
Newfoundland and Labrador). The grant was awarded by the NSERC Alliance Missions
Grants special call for projects related to Critical Minerals Research. To increase the supply
of responsibly sourced critical minerals and support the developm ent of domestic and
global value chains for the green and digital economy, Canada's Critical Minerals Strategy
was released in December 2022 with the intent of continuing to provide foundational
support to Canada's mining sector to take advantage of existi ng and emerging opportunities.
Among the 31 minerals that Canada considers critical, Canada's Critical Minerals Strategy
identified six minerals (including lithium) which were initially prioritized for their distinct
potential to spur Canadian economic gro wth and their necessity as inputs for priority supply
chains.
More information about the program can be found here: https://www.nserc -
crsng.gc.ca/Innovate -Innover/AllianceMissions -MissionsAlliance/CFP -ADP/CMR -
RSLMC/Index_eng.asp
A key benefit of this research will be the opportunity for research students to receive
academic training and apply their knowledge to an active exploration project. The students
will be trained in field methods, data collection techniques, and scientific communication ,
which are highly sought -after skills required for qualified geoscientists to undertake
mineral exploration and geoscience research on critical mineral systems in Canada.
Timothy Froude, P. Geo., President and CEO of Sokoman Minerals states; "We are thrilled
this academic collaboration was awarded this substantial amount of funding directed
towards the understanding of the lithium and associated critical mineral systems we
discovered on the Killick Lithium Project. It's the type of work that rarely gets performed
on mineral discoveries, as most of the funds raised and spent in the normal course of the
vast majority of exploration projects are focused on delivering assays and drill results to
the market. The in -depth research that the teams led by Dr. Donnelly Archibald at St.
Francis Xavier University and Drs Eric Thiessen and David Lowe at Memorial University,
in harmony with the partner organizations, will certainly aid in our search for additional
lithium and associated critical minerals at Killick as well as regionally."
Stephen Stares, President and CEO of Benton states ; "We are elated that such a highly
skilled team of professionals will assist in advancing the understanding of our discovery
through the critical mineral initiatives set forth by our various institutions. We look forward
to the findings in our collective participation."
The main research objective is to better understand the geological controls on the formation
of lithium -rich rocks in southern Newfoundland to better inform exploration targeting
practices and promote lithium discovery. Addressing this primary objective involves a
multidisciplinary investigation into (i) the processes controlling the transport of lithium
from its source to host rocks, (ii) the magmatic emplacement processes that resulted in the
formation of the lithium- rich rocks, (iii) the lithium source(s ), (iv) structure and
deformation that controls the present expression of lithium -rich rocks, and (v) the character
and extent of associated metamorphic aureoles. The combination of fieldwork , mineralogy,
geochronology, geochemistry, structural geology, regional geology, tectonics,
sedimentology, and economic geology will yield a holistic model for the evolution of
lithium pegmatite systems. Taken together, the new data and interpretations , coupled with
the spatiotemporal relationship of regional geological context, will help us to understand
the petrogenesis of lithium pegmatites in southern Newfoundland.
QP
Stephen House (P.Geo.), Vice President of Exploration for Benton Resources Inc., the
'Qualified Person' under National Instrument 43- 101, has approved the scientific and
technical disclosure in this news release and prepared or supervised its preparation.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery- oriented company with projects in the province of
Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold
projects; the 100% -owned flagship, advanced- stage Moosehead, Crippleback Lake, and the
district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, that is targeting
Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits
in Northern Ireland. The Company entered into a strategic alliance with Benton Resources Inc.
through three, large -scale, joint -venture properties including Grey River, Golden Hope, and
Kepenkeck in Newfoundland. Sokoman is one of the largest landholders in Newfoundland, in
Canada's newest and rapidly emerging gold districts.
In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a
major developer of lithium projects and processing plants in the USA, and exactly the right partner
to have to advance the lithium project. The agreement provides for Piedmont to earn up to 62.5%
of the Killick Lithium Project (formerly Golden Hope project) by funding up to $12 million in
exploration expenses and issuing $10 million common shares in three stages. The Killick Lithium
Project has been transferred to Killick Lithium Inc. (Killick), a 100%-owned subsidiary of Vinland
Lithium Inc. (Vinland). Newly created Vinland has received $2 million in financing from
Piedmont for a 19.9% interest, with the balance of ownership between Sokoman and Benton.
Sokoman and Benton will continue to operate the exploration efforts at Killick through the earn-
in stages. Sokoman and Benton will retain a royalty of 2% NSR on future production. Piedmont
will have exclusive marketing rights for the promotion and sale of any lithium products produced
from the project on a life-of-mine basis, and the right of first refusal on 100% offtake rights to the
lithium concentrates.
Projects optioned with optionee fully vested:
• East Alder Project optioned to Canterra Minerals Inc (SIC retains 850,000 shares of CTM
plus 1% NSR)
• Startrek Project optioned to Thunder Gold (SIC retains 1,750,000 shares of TGOL plus 1%
NSR)
For more information, please contact:
Timothy Froude, P.Geo., President & CEO
T: 709-765-1726
Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMineralsCorp
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.
Investors are cautioned that trading in the securities of the Corporation should be considered
highly speculative. Except for historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertaintie s. Actual results may
differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to
reflect events or circumstances after the date hereof. More detailed information about potential
factors that could affect financial results is included in the documents filed from time to time
with the Canadian securities regulatory authorities by Sokoman Minerals Corp.