MONTREAL, CANADA–(CCNMatthews – June 20, 2006) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces results from a program of 115 line-kilometres of line-cutting and ground magnetic surveying carried out by Golden Tag Resources Ltd. (TSX VENTURE:GOG) on the Aquilon Extension property, James Bay, Quebec (ref.: News Release March 7, 2006). The program has traced a banded iron formation horizon, estimated to be 60 metres wide using ground geophysics (magnetics) over an area of approximately 10 sq. km. held jointly by Golden Tag (60%) and Sirios Resources Inc. (40%). Interpretation of the new data supports multiple refolding of the favourable target horizon with 10 areas where the magnetic trend is broken. In addition one area, 800 metres long, shows a highly suppressed magnetic signature. These are prime areas for gold exploration in this environment.
The area is being evaluated using analogies with the Musselwhite gold deposit in northwestern Ontario and other known Banded Iron Formation (“BIF”)-hosted gold deposits worldwide, where gold mineralization commonly occurs associated with magnetic destruction (weak magnetic signature) or at magnetic breaks related to cross-cutting structures along magnetic trends which charaterize the banded iron formations.
“The iron formation is not homogeneous and presents, along its strike, many changes in width and intensity. The iron formation is likely disrupted by several structural features which could constitute valuable targets in the search for gold-bearing mineralization,” stated Pierre Boileau, Eng. Geophysicist.
The BIF lies to the south of high grade quartz veining on the contiguous main Aquilon Property where Golden Tag is earning a 60% interest from SOQUEM and Sirios. The magnetic trend of the iron formation on the Aquilon Extension property can be followed for a distance of over 5.5 kilometres. The magnetic relief of the iron formations is marked by very distinct total field intensities, which is relatively typical of well developed magnetite-chert oxide facies iron formation, a typically good host for mineralization. Processing of the magnetic data suggests the unit is between 40 and 60 metres thick and constituted of one principal horizon.
A summer field program will be conducted in the area of the identified targets prior to planned diamond drilling which will be undertaken at the first opportunity.
Line cutting and ground geophysics was undertaken by GeophysiqueTMC, Val d’Or, Quebec. Pierre Boileau, Eng. Geophysicist, Val d’Or, Quebec provided supervision, processing and interpretation of the results as Qualified Person under NI 43-101.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Dominique Doucet, CEO