Sokoman Reports Additional Assay Results from Moosehead Gold Project, Central Newfoundland

Rhea-AI Summary

Sokoman Minerals Corp. has reported encouraging progress at its Moosehead Gold Project with diamond drilling at the 463 Zone. Notable results include drill hole MH-23-519, which intersected a 1.4 metre-wide zone of visible gold-bearing quartz veining returning 12.41 g/t Au from 409.75 m downhole, extending the zone 68 m down-plunge. The drilling indicates a potential new plumbing system for gold mineralization, separate from the main Eastern Trend. CEO Tim Froude expressed optimism about encountering high-grade gold around the 511 Zone. The company is well-funded with over $6 million in treasury, anticipating continued drilling by late May. The Moosehead Project remains a key focus, with substantial landholdings in Newfoundland.

Positive

• Drill hole MH-23-519 returned 12.41 g/t Au, indicating high-grade gold potential.
• Expansion of the 463 Zone suggests a significant discovery area.
• Company well-funded with over $6 million in treasury for further exploration.

Negative

• None.

Drilling at 463 Zone expands footprint; MH-23-519 extends 463 Zone 68 m down-plunge

ST JOHN'S, NL / ACCESSWIRE / April 13, 2023 / SokomanMinerals Corp. (TSXV:SIC)(OTCQB:SICNF) is pleased to report that diamond drilling at the new 463 Zone has expanded the footprint of the zone and indicates a different plumbing system may be responsible for emplacing gold mineralization in some or perhaps most of the mineralized zones known on the property. Results are highlighted by MH-23-519, which intersected a 1.4 metre-wide zone of visible gold-bearing quartz veining that returned 12.41 g/t Au (from 409.75 m downhole) 68 m down-plunge from hole 463 and remains open to the south and to depth. The company has made a video giving a visual explanation of the results. Investors are encouraged to watch the video HERE.

Tim Froude, President and CEO of Sokoman, says: "We are very pleased with the results from the 463 Zone drilling as it has not only opened up a large new target area, but the possibility that the vein system at Moosehead may predate the Eastern Trend shear zone is a significant development. In the past year or so we have had many intersections that looked "out of place", that we couldn't seem to fit anywhere, now it makes sense that they occur in a perpendicular structure in the footwall (below the main Eastern Trend and that the Eastern Trend while remaining a significant trap for gold, it may not be the primary target for additional gold mineralization. We are also optimistic that eventually we will encounter high-grade gold in the vicinity or associated with the 511 Zone; there is still only limited drilling in that area. We anticipate the annual spring breakup to coincide with the crew rotation in about two weeks with drilling recommencing in late May or earlier, if possible, and we are well funded, with over $6 million in the treasury."

Drill Plan - April 13, 2023

In late 2022, drill hole MH-22-463 cut a significant thickness of gold mineralization (39.60 m @12.50 g/t Au including 10.5 m @41.97 g/t Au (see press release December 15, 2022) that appeared unique in several aspects to many previous intersections reported on the property. Located in the footwall to the main Eastern Trend, the intersection suggested a different structure and/or plumbing system existed in this underexplored area. Drill holes MH-22-505, 512, 517, 519 (and others), designed to test the 463 Zone, all intersected multiple, narrow, locally high-grade veins in the footwall and perpendicular to the main Eastern Trend.

In conjunction with discussions with structural consultant Dr. David Coller, it now appears clear that the 463 Zone is part of a system of less-deformed veins at right angles to the main Eastern Trend and consequently, parallel to most of the drilling completed over the previous two years. This also strongly suggests that the Eastern Trend may not be the feature controlling gold mineralization, but rather it has crosscut and incorporated a pre-existing vein system as we now see similar-looking gold bearing veins in deformed, as well as largely-pristine rocks. It also opens up the entire footwall environment as a host to high-grade veins.

At the 511 Zone, located under South Pond, drilling continued to intersect gold mineralization (MH-23-514 to 516) and the zone remains open and will be further tested in 2023. The recent drilling also confirms that the 511 Zone consists of multiple subparallel structures.

QP

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.

Analytical Techniques / QA/QC

Samples, including duplicates, blanks, and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. All core samples submitted for assay were saw cut by Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman personnel. Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples with visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Total pulp metallic analysis includes: the whole sample is crushed to -10 mesh; then pulverized to 95% -150 mesh. The total sample is weighed and screened to 150 mesh; the +150 mesh fraction is fire assayed for Au, and a 30 g subsample of the -150 mesh fraction is fire assayed for Au; with a calculated weighted average of total Au in the sample reported as well. One blank and one industry-approved standard for every twenty samples submitted are included in the sample stream. Random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical Ltd. All reported assays are uncut.

Table of Results - April 13, 2023

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold projects; the 100% flagship, advanced-stage Moosehead, as well as Crippleback Lake (available for option); and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, that is targeting Dalradian-type, orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company also entered into a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland. Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares (>6,000 claims - 1500 sq. km), making it one of the largest landholders in Newfoundland, in Canada's newest and rapidly-emerging gold districts. The Company also retains a 1% NSR interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to Thunder Gold Corp (formerly White Metal Resources Inc.), and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project which 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 past financial support of the Moosehead Project through the Junior Exploration Assistance Program.

For more information, please contact:

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

Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
E: cathy@chfir.com

Thomas Do, IR Manager, CHF Capital Markets
T: 416-868-1079 x 232
E: thomas@chfir.com

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

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.

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FAQ

What are the latest assay results from Sokoman Minerals Corp. for the 463 Zone?

The latest results from the 463 Zone include a drill hole MH-23-519 that intersected 1.4 m of visible gold-bearing quartz at 12.41 g/t Au.

How does the new drilling at the 463 Zone impact Sokoman Minerals' stock symbol SICNF?

The encouraging drilling results could enhance investor sentiment and potentially lead to a positive impact on the stock performance of SICNF.

When is drilling expected to resume at Sokoman Minerals' Moosehead Project?

Drilling at the Moosehead Project is expected to resume in late May or earlier, depending on conditions.

What is the significance of the 511 Zone for Sokoman Minerals?

The 511 Zone has shown continuous gold mineralization and remains open for further testing, indicating potential for additional discoveries.

How much funding does Sokoman Minerals Corp. currently have for exploration?

Sokoman Minerals Corp. has over $6 million in treasury, positioning it well for continued exploration activities.