Sirios completes capital raise of more than $1.84 M

MONTREAL, Dec. 20, 2019 (GLOBE NEWSWIRE) -- Management of SIRIOS RESOURCES INC. (TSX VENTURE:SOI) is pleased to announce the completion of a non-brokered private placement for a total amount of $1,846,105. This amount was raised by issuing 7,744,022 Quebec flow-through shares at $0.23 per share and 361,000 federal flow-through shares at $0.18 per share. Sirios will use the proceeds of the private placement for exploration fieldwork, mainly the next winter 2020 diamond drilling campaign on its Cheechoo gold property, that qualifies as Canadian exploration expenditures.

Finder's fees of $94,468 were paid. There will be a hold period of four months and one day on all securities issued under this financing. Sirios' president and a director participated in the financing by acquiring a total of 95,000 flow-through shares. The TSX Venture Exchange has conditionally approved the private placement.

Sirios' 100% owned Cheechoo property is located in the Eeyou Istchee James Bay region of Quebec, at less than 15 km from Newmont Goldcorp's Éléonore gold mine. A maiden resource estimate of the project (Dec 2019) delineated inferred resources of 1.6 million gold ounces in 71.0 million tonnes at an average grade of 0.69 g/t Au with a significant  potential to increase these resources.

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.

Contact:
Dominique Doucet, President
ddoucet@sirios.com  
Tel.: (514) 510-7961     

Website: www.sirios.com