SOKOMAN MINERALS CORP - SICNF STOCK NEWS

Sokoman Minerals (TSXV: SIC, OTCQB: SICNF) announced the arrival of a third drill rig at its 100%-owned Moosehead Gold Project in Newfoundland, set to target high-priority areas like the 75 Zone and Eastern Trend. The current drilling phase still has 27,000 metres left from a 50,000-metre program, with strong intersections reported including up to 68.25 g/t Au. The company is also securing a fourth drill rig. The Moosehead Project is strategically located along the Trans-Canada Highway, showing potential for significant gold mineralization.

Sokoman Minerals Corp. announced significant progress in its ongoing Phase 6 drilling at the 100% owned Moosehead Property in Newfoundland. Multiple holes have intersected high-grade gold mineralization, confirming the presence of visible gold across various zones. The drilling has extended the interpreted high-grade shoots within a 700 m strike area, with plans to continue explorations using two rigs. Notable results include previous holes returning grades of 13.67 g/t Au and 6.93 g/t Au. The Moosehead Gold Project's total drilling has reached 22,326 m in Phase 6, with more assessments planned.

Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) has announced an exploration update focusing on its wholly-owned and joint venture projects in Newfoundland. Key highlights include nearly 20,000 meters drilled at the Moosehead Project with significant gold intersections, ongoing till sampling at Fleur de Lys, and the start of airborne geophysical surveys at Grey River and Golden Hope JV Projects. The company plans to enhance drilling with additional rigs to explore high-priority targets while maintaining safety protocols during COVID-19. Assay results from ongoing programs are expected soon.

Sokoman Minerals Corp. has executed two property option agreements with Benton Resources to enhance the Grey River Gold Property in Newfoundland and Labrador. The Lewis Option allows Sokoman to acquire a 100% interest in seven claims with a 1.5% net smelter return royalty, requiring payments and share issuances over three years. The G2B Gold Option provides a similar opportunity for four claims under a 1.5% NSR. This strategic expansion aligns with Sokoman's focus on gold projects and strengthens its position as one of the largest landholders in Newfoundland.

Sokoman Minerals Corp. has executed two property option agreements to acquire mineral claims in Newfoundland and Labrador. The Lewis Option Agreement allows Sokoman to acquire a 100% interest in the Lewis Property, comprised of seven claims, subject to a 1.5% net smelter return royalty. The G2B Gold Option Agreement grants Sokoman the option to acquire a 100% interest in the G2B Property, consisting of four claims, also subject to a 1.5% NSR. Both agreements require cash payments and share issuances over the next three years.

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.