Description

This 104 claims gold property covering approximately 50 sq km, is located ten kilometres south of the LA-1 hydro-electrical complex, James Bay region, Quebec. An outfitter with a landing strip is situated less than 40 minutes from the property by an all-weather road leading to LA-1 dam.

Fieldwork and Geology

In 2010, Sirios completed a 1,926-metre surface drilling program of 35 short vertical drill holes targeting the Lingo (10), Moman (14), Fleur De Lys (11) and Muscovite showings. Drilling confirms that very high grade gold mineralization typically occurs in the hinges of folded quartz veins in shallow-plunging, pencil-like mineralized shoots.

Best results include:

• 834.4 g/T Au over 1.71 metres (m) (Moman Vein)
  including 3,527.4 g/T Au over 0.40 m;
• 116.48 g/T Au over 2.25 m (Moman Vein);
• 425.33g/T Au over 0.60 m (Moman Vein);
• 133.67 g/T Au over 0.82 m (Fleur de Lys Vein); and
• 26.70 g/T Au over 0.40 m (Muscovite Vein).

Previous drill results which returned over 1.0 ounce per ton (34.29 g/t), include:

• 3 230,9 g/t Au over 0.80 m (94 on/ton over 2.62 feet)
• incl. 12,906.5 g/t Au over 0.20 m (376 on/ton over 0.65 feet)

The property is underlain by parts of a folded, weakly dipping greenstone-belt, containing a felsic volcanic center and cut by strong NE structures.

During the first quarter of the year 2010-2011, a series of metallurgical tests on a composite high-grade gold sample from the Lingo vein were initiated. The composite sample of 92kg consists of half core samples from the drilling that took place on the Lingo vein in 2008 and 2009. The main purpose of these tests is to specify the gold grain size that will lead to a satisfactory gold recovery by simple gravimetric concentration. The tests are being conducted by L.T.M. Laboratory, an independent laboratory of Val D’Or, Quebec and are a first step toward initiating procedures to obtain required permits in order to conduct a bulk sampling of the Lingo vein. A compilation of previous results and an assessment of the required logistics is underway to test the ability to run the bulk sample, the Lingo vein is located approximately 1 km west of road access.

Agreement

In 2004, the company signed a formal agreement with Golden Tag Resources Ltd. ("Golden Tag") and Soquem Inc. ("Soquem") relating to this property. According to the agreement, Golden Tag completed in 2008 the acquisition of a 40% stake in the property having carried out up to $750,000 exploration expenditures. Sirios now owns 40% of property Aquilon and Soquem 20%. By incurring an additional amount of $750,000 in exploration expenditures on or before May 2011, Golden Tag will increase its interest to 60%, Sirios will keep 40% and Soquem will receive shares of Golden Tag in addition to a 1% NSR ("Net Smelter Return") royalty.

In a 2010 agreement with Golden Tag, Sirios has agreed to incur a little over $600,000 in expenditures on the property including the remaining portion of the Golden Tag earn-in. Upon vesting of Golden Tag’s 60% interest, ownership of the property will rest in a Golden Tag – Sirios 60/40 joint venture with Sirios maintaining the right to increase to 50% upon completion of their earn-in and after Golden Tag has earned their 60% interest. Golden Tag will remain operator of the future 50/50 joint venture and retain a casting vote in all management decisions.

Press Releases

All of Sirios' press releases are available in the the "press" section.