SOKOMAN MINERALS CORP - SICNF STOCK NEWS

Sokoman Minerals Corp. (TSX.V: SIC, OTCQB: SICNF) has entered an option agreement with Canterra Minerals for the East Alder Gold Project in Newfoundland. Canterra can acquire 100% of East Alder by issuing 750,000 shares and committing $600,000 in work over four years. The project features rock samples with gold grades ranging up to 5.3 g/t and a 2-km gold-in-soil trend. Sokoman retains a 1.0% royalty on production. This partnership allows Sokoman to focus on its flagship Moosehead Gold Project, currently undergoing an extensive drill program.

Sokoman Minerals Corp. has appointed Daniel Lee as Vice President of Exploration, bringing over 30 years of experience in base and precious metals. Lee has significantly contributed to major projects, notably the Voisey’s Bay Project and the Hope Brook Gold Mine. Sokoman is ramping up exploration activities at the Moosehead Gold Project, with ongoing drilling focused on high-grade zones. The company plans to increase drilling to 50,000 meters by June 1. Significant gold mineralization has been identified, including high-grade results of 44.96 g/t Au and 124.20 g/t Au.

Sokoman Minerals Corp. (TSX.V: SIC) (OTCQB: SICNF) is restructuring its non-brokered private placement of units valued at $6.5 million due to regulations concerning shareholder ownership limits. Major shareholder Eric Sprott intends to invest $5 million, but regulatory policies require shareholder approval for ownership exceeding 20%. The investment will be split into two tranches, with a portion held in trust pending approval. An Extraordinary General Meeting is set for May 18, 2021. Each subscription receipt will convert into units upon receiving the required approval, enhancing shareholder value.

Sokoman Minerals Corp. has successfully acquired the Fleur de Lys Project, encompassing 1,891 claims (47,275 hectares) in Newfoundland's Baie Verte Peninsula through staking and option agreements. This project is geologically comparable to the UK’s Curraghinalt Deposit, hosting unexplored gold anomalies. The acquisition is primarily for staking costs, enhancing Sokoman's portfolio alongside its flagship Moosehead Project, with potential for significant gold deposits. Historical exploration has been minimal, indicating opportunities for development.

Sokoman Minerals Corp. reported significant results from its Phase 6 drilling program at the Moosehead Property, uncovering high-grade gold mineralization at South Pond. Notably, drill hole MH-21-141 intersected 4.20 m of 64 g/t Au, including 1.20 m at 223.63 g/t Au. The company plans to continue drilling with two rigs, hoping to expand on discoveries in high-priority zones. They are optimistic about future findings, having drilled 37 holes for a total of 6,872 m in this phase, part of a larger 20,000 m program.

Sokoman Minerals Corp. (TSXV:SIC, OTCQB:SICNF) announced the mobilization of a second diamond drill rig to the Moosehead Gold Project, aiming to test high-priority targets outside known mineral zones. The first drilling site is 200 m east of the main Eastern Trend, focusing on a magnetic and soil anomaly. Historical soil values range from under 5 ppb to 325 ppb Au. The company aims to drill up to 5,000 m across over 10 targets as part of a larger 20,000 m drill program. Results from this phase will help extend known zones and explore new discoveries.

Sokoman Minerals Corp. has announced plans for a non-brokered private placement of flow-through shares at $0.20 each, aiming to raise up to $2 million. The funds will support the Moosehead Gold Project, where the company has achieved promising drill results. The placement, reliant on regulatory approvals, includes a 6% finders' fee. With 6,000 meters of drilling completed out of a planned 10,000 meters for Phase 6, the additional financing will allow for expansion into winter drilling. The company holds a strategic position in the highly mineralized corridor of Central Newfoundland.

Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) announced a stock option grant for up to 3,000,000 common shares, subject to TSX Venture Exchange approval. These stock options will be exercisable for five years at an exercise price of Cdn $0.22, which is a 30% premium over the current share price. The company focuses on gold projects in Newfoundland, specifically the Moosehead, Crippleback Lake, and East Alder projects. The Valentine Lake project, located nearby, holds significant mineral reserves and resources, highlighting the promising area for gold exploration.