Sokoman Minerals Announces Senior Management Appointment

Rhea-AI Summary

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.

Positive

• Appointment of Daniel Lee, an experienced geologist, as VP of Exploration.
• Ongoing exploration at Moosehead Gold Project with plans to increase drilling to 50,000 meters.
• Identification of significant gold mineralization with high-grade assay results.

Negative

• Drilling activities are complicated due to logistical issues during the spring breakup.

Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (“the Company” or “Sokoman”) is pleased to announce the appointment of Daniel Lee to the position of Vice President Exploration. His career spans over 30 years focused on base and precious metals projects in Newfoundland and Labrador beginning with Noranda in the late 1980’s, working on VMS properties in central NL, notably the delineation of the Duck Pond Deposit. After joining Archean Resources in 1996, Dan was a key member of the geological team that developed the Voisey’s Bay Project, originally as a core logging geologist, and continuing with succeeding companies to Senior Geologist working with Vale on multi-disciplinary teams providing key inputs to pre-feasibility and feasibility studies at Voisey’s Bay. He subsequently joined Coastal Gold at the former Hope Brook Gold mine in 2010 as Project Manager where efforts were directed at assessing the remaining resource for completion of a Preliminary Economic Analysis. Dan joined the Sokoman Minerals team in 2018 and has been guiding exploration at the project ever since.

Tim Froude, President & CEO of Sokoman, said: “I have known Dan since we were students at Memorial University in the 1980’s. I have admired his progress and accomplishments over the years and was fortunate enough to convince him to join our team after we acquired the Moosehead Project in 2018. There isn’t anyone that knows as much about Moosehead as he does and much of the success we have enjoyed is a direct result of his tireless efforts and passion for the project. As we ramp up activities at Moosehead, Dan’s experience with advanced stage projects will be critical in bringing the project to the next level.”

The ongoing Phase 6 program is planned to continue through the spring breakup as long as it is technically feasible, with the 2 drills, now present, testing the Footwall Splay/Eastern Trend high grade zones, with a 10-hole program designed to expand the near-surface zones. Assay results from the South Pond and Footwall Splay / Eastern Trend areas are pending and will be released within the next two to three weeks, with a full review of all results to date provided at that time.

Although drilling is slower and more complicated due to logistical concerns during the breakup period, the Footwall splay / Eastern trend zones are relatively easy to access and the decision was made to take advantage of our location and to continue to drill through this period. Plans are to increase to the four drills, and the planned 50,000 m of drilling, announced earlier, as of June 1.

About Moosehead Gold Project

The 100%-owned Moosehead Gold Project is located along the Trans-Canada Highway in North Central Newfoundland, on the same structural trend as the advanced Valentine Lake Project (Marathon Gold), and adjacent to New Found Gold's Queensway Project. Both the Moosehead and Queensway projects are targeting high-grade, turbidite-hosted, Fosterville-type gold mineralization. Significant gold mineralization has been identified in at least five separate zones including the Eastern Trend where mineralization has been defined over a 500 m strike length and a 200 m vertical height and remains open, with high-grade drill results including 11.90 m of 44.96 g/t Au (MH-18-01) and 5.10 m of 124.20 g/t Au (MH-18-39).

Qualified Person

This news release has been reviewed and approved by Timothy Froude, P. Geo., a "Qualified Person" under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.

COVID-19 Protocols

To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman is operating under federally and provincially mandated and recommended guidelines during the current COVID-19 alert level.

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, East Alder) in Central Newfoundland, and the recently acquired, district-scale Fleur de Lys Project in Northwestern Newfoundland which is targeting high-grade Dalradian style gold mineralization similar to the Curraghinalt deposit in Northern Ireland.

The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland optioned to White Metal Resources Inc., as well as the 100% owned Iron Horse iron ore project in Labrador.

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 project through the Junior Exploration Assistance Program. Sokoman has been approved for funding for a portion of 2020 exploration activities.

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/20210408005238/en/

FAQ

Who is Daniel Lee in Sokoman Minerals Corp.?

Daniel Lee is the newly appointed Vice President of Exploration at Sokoman Minerals Corp., with extensive experience in base and precious metals.

What is the Moosehead Gold Project's significance?

The Moosehead Gold Project is significant for targeting high-grade gold mineralization in Newfoundland, with substantial assay results already identified.

What are the assay results from the Moosehead Gold Project?

Significant assay results include high-grade mineralization of 44.96 g/t Au and 124.20 g/t Au from various drilling zones.

How much drilling is planned for the Moosehead Gold Project?

Sokoman plans to ramp up drilling to a total of 50,000 meters by June 1 at the Moosehead Gold Project.

What challenges is Sokoman facing with drilling at Moosehead?

Drilling is currently slower and more complicated due to logistical concerns during the spring breakup.