Sanatana Appoints Chris Paul to Advisory Board and Sanatana Awards Options

Rhea-AI Summary

Sanatana Resources has appointed Chris Paul to its advisory board. Paul brings over 15 years of expertise in exploration and capital markets. He founded Ridgeline Exploration, later acquired by Goldspot Discoveries in 2021, and discovered notable porphyry systems such as Williams Cu-Au and Leviathan. His recent success in drilling for Hercules Metals in Idaho aligns with Sanatana's Oweegee project in BC. Sanatana has also awarded 4,650,000 stock options at $0.10 per share, with vesting stages over five years, to directors, officers, and key personnel. The stock options are part of the company's stock option plan and await regulatory approval.

Positive

• Appointment of Chris Paul brings significant experience in discovery and capital markets.
• Chris Paul's recent successful projects directly relevant to Sanatana's objectives.
• Sanatana's strategic granting of 4,650,000 stock options to incentivize key personnel.

Negative

• Stock option awards result in 10,100,000 options outstanding, potentially diluting share value.

Vancouver, British Columbia--(Newsfile Corp. - July 9, 2024) - Sanatana Resources Inc. (TSXV: STA) ("Sanatana" or the "Company") is pleased to announce the appointment of Mr. Chris Paul, to Sanatana's advisory board. Mr. Paul has over 15 years of discovery and capital markets experience in numerous senior exploration and management roles. He was principal and founder at Ridgeline Exploration which was acquired by Goldspot Discoveries in 2021. He also discovered the Williams Cu-Au porphyry system in British Columbia's Golden Triangle in 2018, which was recently acquired by Kingfisher Metals (TSXV: KFR). Most recently, Mr. Paul discovered the blind Leviathan porphyry copper system in Idaho in 2023 for Hercules Metals Corp (TSXV: BIG). Mr. Paul holds a B.Sc. In geology from Simon Fraser University and a diploma in mining from the British Columbia Institute of Technology.

Mr. Peter Miles CEO of Sanatana states, "We are delighted that Chris has joined our advisory board. Chris' experience and recent success in drilling the Hercules project in Idaho is directly relevant to Sanatana's Oweegee project in BC's Golden Triangle. The Hercules and Oweegee projects have several similarities including the use of Dias Geophysical's distributed array deep IP ("DCIP") survey system. Chris has been of significant help to us in targeting the initial drill holes for our upcoming drill program which should start later in July 2024."

Sanatana has granted incentive stock options to directors, officers, employees and contractors of the Company to purchase up to 4,650,000 common shares of the Company at a price of $0.10 per share. The stock options are exercisable on or before July 9, 2029 and vest in stages with 25% vesting immediately and the remainder to vest 25% every six months from the date of the grant. Of the options granted, 3,050,000 were awarded to directors and officers of the Company.

The stock options are being granted pursuant to the terms of the Company's stock option plan and are subject to regulatory approval. Following the grant of options, the Company has 10,100,000 stock options outstanding.

About the Company

Sanatana Resources Inc. is a mineral exploration and development company with an experienced management team and board of directors. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSXV: STA).

Sanatana's principal project is the Oweegee Dome copper-gold porphyry property which the Company optioned from ArcWest Exploration Inc. (see the Company's news release dated July 21, 2021). The Oweegee Dome copper-gold porphyry property is situated 40 km east of the KSM - Brucejack -Treaty Creek cluster of base and precious metal deposits and is underlain by similar geologic conditions, Stuhini Group (Tiassic age) host rocks, intrusions of the right age, alteration and porphyry style copper - gold - silver - molybdenite mineralization.

SANATANA RESOURCES INC.

(signed) "Peter Miles"

Peter Miles
President and Chief Executive Officer

For additional information on the Company, please contact Mr. Peter Miles, Chief Executive Officer at (604) 408-6680 or by email investor@sanatanaresources.com.

To be added to the email distribution list, please email ir@sanatanaresources.com with "Sanatana" in the subject line.

Cautionary Statement Regarding "Forward-Looking" Information

Mineralization hosted on adjacent, nearby or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements related to the Private Placement, the use of proceeds for the Private Placement, the exploration potential of the Oweegee Dome Project and the drill collar locations, all of which are subject to the risk factors contained in Sanatana's continuous disclosure filed on SEDAR+ at www.sedarplus.ca.

Forward-looking statements and information can be identified by the use of words such as "plans", "scheduled" "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215978

FAQ

What recent appointment has Sanatana Resources announced?

Sanatana Resources has appointed Chris Paul to its advisory board.

What is the significance of Chris Paul's appointment to Sanatana Resources?

Chris Paul's extensive experience in discovery and capital markets is expected to benefit Sanatana, particularly his recent work in projects similar to Sanatana's Oweegee project.

What stock options has Sanatana Resources recently granted?

Sanatana Resources has awarded 4,650,000 stock options at $0.10 per share to directors, officers, employees, and contractors.

When do the newly granted stock options by Sanatana Resources vest?

The stock options vest in stages with 25% immediately and the remainder 25% every six months until fully vested by July 9, 2029.

How many stock options does Sanatana Resources have outstanding after the recent grant?

Following the recent grant, Sanatana Resources has 10,100,000 stock options outstanding.