Sokoman Minerals Announces Stock Option Grant

Rhea-AI Summary

Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) announced a stock option grant for up to 3,000,000 common shares, subject to TSX Venture Exchange approval. These stock options will be exercisable for five years at an exercise price of Cdn $0.22, which is a 30% premium over the current share price. The company focuses on gold projects in Newfoundland, specifically the Moosehead, Crippleback Lake, and East Alder projects. The Valentine Lake project, located nearby, holds significant mineral reserves and resources, highlighting the promising area for gold exploration.

Positive

• Grant of up to 3,000,000 stock options could incentivize management and staff.
• Stock option exercise price at Cdn $0.22 is a 30% premium, reflecting confidence in the company's future.
• Focus on promising gold projects in Newfoundland and Labrador may lead to potential resource discoveries.

Negative

• None.

ST. JOHN'S, NL / ACCESSWIRE / November 27, 2020 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) (the "Company" or "Sokoman") today announces a stock option grant to officers, directors, employees and consultants of the Company, subject to TSX Venture Exchange approval, for up to a total of 3,000,000 common shares of the Company. These stock options are exercisable for five years at an exercise price of Cdn $0.22 which represents a 30% premium to a current share price.

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) in Central Newfoundland on the structural corridor hosting Marathon Gold's Valentine Lake project. Valentine Lake is reported to host estimated Proven and Probable Mineral Reserves of 1.87 Moz (41.05 Mt at 1.41 g/t Au), and Total Measured and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 3.09 Moz (54.9 Mt at 1.75 g/t Au). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Reserves and resource totals for the Valentine Lake Project are taken from the Marathon Gold website, November 16, 2020.

The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland optioned to White Metal Resources Inc. In Labrador, the Company has a 100% interest in the Iron Horse (Fe) project.

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.

To learn more, please contact:

Timothy Froude, P. Geo., President & CEO 709-765-1726 tim@sokomanmineralscorp.com

Cathy Hume, Director, Investor Relations 416-868-1079 x231 cathy@chfir.com

Website: www.sokomanmineralscorp.com Twitter: @SokomanMinerals Facebook: @SokomanMinerals

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.

SOURCE: Sokoman Minerals Corp.

View source version on accesswire.com:
https://www.accesswire.com/618556/Sokoman-Minerals-Announces-Stock-Option-Grant

FAQ

What is the significance of the stock option grant by Sokoman Minerals Corp.?

The stock option grant for up to 3,000,000 shares aims to motivate officers, directors, and employees, potentially enhancing company performance.

What is the exercise price for the stock options granted by Sokoman Minerals Corp.?

The exercise price for the stock options is set at Cdn $0.22, which is a 30% premium over the company's current share price.

Which gold projects are focused on by Sokoman Minerals Corp.?

Sokoman Minerals Corp. focuses on several gold projects in Newfoundland, including Moosehead, Crippleback Lake, and East Alder.

How does the Valentine Lake project's mineral reserves impact Sokoman Minerals Corp.?

The nearby Valentine Lake project has significant Proven and Probable Mineral Reserves which indicate strong potential for gold exploration in the region.