SOKOMAN MINERALS CORP - SICNF STOCK NEWS

Sokoman Minerals Corp. has successfully closed its flow-through private placement, raising a total of $4,142,752 through the issuance of 14,795,544 flow-through share units at a price of $0.28. Each unit includes one common share and a half share purchase warrant, allowing for the purchase of additional shares at $0.36 over 18 months. The proceeds will primarily fund exploration work in the company's properties, targeting projects like the Golden Hope joint venture and the flagship Moosehead Gold project.

Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) has increased its flow-through private placement limit from $3 million to $4,142,752 due to strong demand. The company plans to issue 14,795,544 flow-through share units at $0.28 each, with each unit including a half warrant exercisable at $0.36 for 18 months. Proceeds will fund exploration for projects qualifying as Canadian Exploration Expenses, specifically 25% allocated to the Golden Hope project and the remainder to the Moosehead Gold project.

Sokoman Minerals Corp. announced final results from 1,260 till samples taken at the Fleur de Lys project in Newfoundland, confirming significant gold mineralization potential. Over 25% of samples had at least 20 gold grains, with some containing more than 60 grains. Prospecting also found over 34 bedrock samples with gold values exceeding 100 ppb, peaking at 4.6 g/t. The company plans to pursue the identified anomalies for further exploration activities. The project is viewed as highly prospective for orogenic vein-hosted gold deposits related to the Dalradian Supergroup.

Sokoman Minerals Corp. (TSXV:SIC, OTCQB:SICNF) announced the completion of drill hole MH-22-505 at the Moosehead Gold Project, intersecting significant visible gold veins within the 463 Zone. The hole reached a depth of 559 m and confirmed mineralization extending beyond previous depths. The company is well-funded with over $7 million in treasury, with drilling planned to continue in January 2023. Assay results from the latest drill are expected by year-end, potentially enhancing the project's prospects for high-grade gold discovery.

Sokoman Minerals Corp. announced a non-brokered private placement of flow-through units, aiming for gross proceeds of $3,000,000, set to close by December 28, 2022. Priced at $0.28 per unit, each consists of one common share and a warrant priced at $0.36 for an 18-month period. Funds will be allocated to Canadian exploration expenses, with 25% directed to the Golden Hope project and the remainder to the Moosehead Gold project. The company holds $4.7M in treasury for operational needs in 2023.

Sokoman Minerals Corp. and Benton Resources have announced a significant cesium discovery named Hydra Zone at the Golden Hope Project in Newfoundland. Recent channel sampling revealed up to 13.57% Cs₂O and averaged 8.75% Cs₂O over 1.2 m, indicating a potentially high-grade resource. This dyke has a width of 5-6 m and extends approximately 100 m. The Alliance plans further exploration but faces winter challenges. Additionally, the global cesium market is projected to double in five years, highlighting the strategic importance of this resource.

Sokoman Minerals Corp. reported significant assay results from the ongoing 100,000 m Phase 6 drilling program at the Moosehead gold project.

Drill hole MH-22-463 revealed 39.6 m grading 12.50 g/t Au, including 10.25 m at 41.97 g/t Au, indicating a new gold occurrence deeper than previously modeled areas.

The program also includes 14 additional holes along the Western Trend, although most show low values. The company plans to continue drilling in 2023, backed by over $4.5 million in funds.

Sokoman Minerals Corp. and Benton Resources Inc. have discovered a high-grade cesium-rich dyke with grab samples showing up to 1.56% Cs₂O. This marks the first high-grade cesium mineralization recorded on Newfoundland. The dyke measures approximately 5 m - 6 m wide and extends for 100 m. The companies will soon begin Phase 3 drilling at the Kraken lithium site, where samples previously showed values exceeding 1% Li₂O. The discovery highlights the growing significance of cesium, lithium, and tantalum as critical minerals essential for economic and national security.

Sokoman Minerals Corp. (OTCQB:SICNF) and Benton Resources (TSXV:BEX) announced significant progress in drilling lithium at the Kraken Lithium project and gold at the Grey River Gold project in Newfoundland. The Alliance's winter drilling campaign confirmed lithium-rich dykes with intersections up to 2.37% Li₂O and significant lengths, including 0.94% Li₂O over 8.4 m. Additionally, the Grey River project is undergoing a 2,000 m gold drilling program, with promising intersections from earlier drilling.