Sokoman Announces Results of Extraordinary General Meeting of Shareholders

Rhea-AI Summary

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.

Positive

• Approval for Eric Sprott to become a greater than 20% shareholder enhances investor confidence.
• Sokoman controls over 50,000 hectares of gold prospective ground in Newfoundland, indicating strong resource potential.

Negative

• None.

Sokoman Minerals Corp. (TSX.V: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) today announced that at the Company’s Extraordinary General Meeting of Shareholders held on Tuesday, May 18th, the Company received shareholder approval for Mr. Eric Sprott to become a greater than 20% shareholder of Sokoman.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company's primary focus is its portfolio of gold projects Moosehead, Crippleback Lake and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the recently acquired district-scale Fleur de Lys project in northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. Sokoman controls one of the largest land holdings in Newfoundland with over 50,000 hectares (250 km²) of highly prospective ground in Canada’s newest and rapidly emerging gold districts. The Company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project that has Direct Shipping Ore (DSO) potential.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

The Company would like to thank the Government of Newfoundland and Labrador for financial support of the Moosehead Project through the Junior Exploration Assistance Program.

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

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward- looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210519005203/en/

FAQ

What significant decision was made by Sokoman Minerals Corp. on May 18th?

On May 18th, Sokoman Minerals Corp. received shareholder approval for Eric Sprott to become a greater than 20% shareholder.

What projects does Sokoman Minerals focus on?

Sokoman's primary focus is on its gold projects Moosehead, Crippleback Lake, and the Fleur de Lys project in Newfoundland.

How much land does Sokoman Minerals control in Newfoundland?

Sokoman Minerals controls over 50,000 hectares of land in Newfoundland's gold districts.

What support did Sokoman Minerals receive for the Moosehead Project?

Sokoman received financial support for the Moosehead Project from the Government of Newfoundland and Labrador through the Junior Exploration Assistance Program.