SOKOMAN MINERALS CORP - SICNF STOCK NEWS

Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) announces promising Phase 6 drilling results at its 100%-owned Moosehead Property in Newfoundland. High-grade gold mineralization was found at the Eastern Trend and South Pond Zones. Prospecting revealed visible gold-bearing quartz float with assays of 9.2 and 14.3 g/t Au. The company plans to continue drilling, expecting barge arrival soon. Key drill results include MH-21-191 returning 21.86 g/t Au over 3.60 m. The South Pond Zone has been traced 65 m along strike and remains open for further exploration.

Benton Resources and Sokoman Minerals have received approval for exploration at the newly-acquired Kepenkeck Gold Property. A detailed 1,600-line km Mag-VLF airborne survey will be conducted to map geological structures and generate gold targets. Ground exploration has begun, with results expected to guide future operations. The venture between these companies enhances their presence in Newfoundland's emerging gold sector, where they hold a significant portfolio of projects.

Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) has entered into two property option agreements to enhance its Fleur de Lys Property in Newfoundland. The Duffitt Property, consisting of 51 claims, allows Sokoman to acquire a 100% interest, subject to a 2% net smelter return royalty. Key terms include cash payments and share issuances over three years, with the potential for an additional 500,000 shares if a minimum of 100,000 ounces of gold is established. The second agreement pertains to the Squires/McGuire Property, involving a similar structure and a 2% royalty. These acquisitions aim to expand Sokoman’s mineral resource base.

Sokoman Minerals Corp. (TSXV: SIC, OTCQB: SICNF) has closed a private placement, issuing 3,770,592 units to Eric Sprott for gross proceeds of $980,354. Post-financing, Sprott controls approximately 26.1% of the company’s common shares on a non-diluted basis. The financing will bolster Sokoman's Phase 6 drill program at the Moosehead Gold Project, increasing its scope from 20,000 m to 50,000 m. Sokoman has also reported warrant exercises totaling $5.9 million and has around $15 million cash on hand, fully funding its 2021 plans.

Sokoman Minerals Corp. (TSXV:SIC) (OTCQB:SICNF) has signed an option agreement with Trans Canada Gold Corp. (TSXV:TTG) allowing Trans Canada to earn a 100% interest in the Crippleback Lake Gold property, spanning 3,025 ha. This involves the issuance of 1,250,000 shares and cash totaling $600,000 over four years, with a 1% net smelter return royalty retained by Sokoman. The property is strategically located near key gold deposits in Newfoundland, enhancing exploration potential. Both companies anticipate collaboration to advance the project.

Sokoman Minerals Corp. (TSXV: SIC) and Benton Resources Inc. (TSXV: BEX) have jointly acquired the 324 claim (8,100 hectare) Grey River Gold Project in southern Newfoundland. This acquisition enhances Sokoman's standing as one of the largest landholders in Newfoundland, with ownership or co-ownership of over 150,000 hectares. The Grey River property is rich in gold, with previous samples showing grades up to 225 g/t Au. The focus will be on high-grade gold exploration associated with distinct geological features.

Sokoman Minerals Corp. (SICNF) has entered a strategic alliance with Benton Resources Inc. to jointly acquire and explore gold opportunities in Newfoundland. They have staked the 3,146 claim Golden Hope Joint Venture, covering 78,650 hectares, making it one of the largest gold properties on the island. This Property is linked to significant gold deposits and discoveries, including Sokoman's Moosehead Project. Additionally, the partnership involves a 50-50 Joint Venture on Benton’s Kepenkeck Gold Property, enhancing their exploration prospects in the Central Newfoundland Gold Belt.

Sokoman Minerals Corp. has announced shareholder approval for Mr. Eric Sprott to acquire over 20% of the company during its Extraordinary General Meeting held on May 18th. Sokoman is focused on gold projects in Newfoundland & Labrador, including Moosehead, Crippleback Lake, and the recently acquired Fleur de Lys project, covering over 50,000 hectares. The company expresses gratitude to the Government of Newfoundland and Labrador for its financial support of the Moosehead Project through the Junior Exploration Assistance Program.

Sokoman Minerals Corp. announced the latest Phase 6 drilling results at the Moosehead Property, revealing significant near-surface high-grade gold mineralization. Key intersections include MH-21-165 with 4.10 m of 21.61 g/t Au and MH-21-164 with 4.05 m of 22.62 g/t Au. The drilling confirms the continuity and quality of gold mineralization. A planned aggressive drilling campaign of 50,000 meters aims to further explore these promising zones, with two active rigs. Sokoman's Moosehead Project, located in Newfoundland, targets high-grade turbidite-hosted gold mineralization.