NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: SIRIOS RESOURCES INC. TSX VENTURE SYMBOL: SOI JULY 29, 2004 - 16:00 ET Sirios: New Gold Showing Found on Aquilon Property MONTREAL, QUEBEC--(CCNMatthews - July 29, 2004) - Officers of SIRIOS RESOURCES INC. are pleased to announce very positive results from an initial evaluation program by Golden Tag Resources Ltd. on the Aquilon Property in James Bay, Quebec. Golden Tag can earn up to 60% interest in the Property from Sirios (50%) and SOQUEM Inc. (50%). At any time Sirios will keep at least a 40% interest in the property (see news release of November 20, 2003 for details). The purpose of the Golden Tag program was to review the geological setting of known auriferous zones and to prospect promising new exploration targets. Several grab samples were taken over historical showings and returned assays greater than 100 g/T Au. Prospecting to the east of previous work has identified a new gold showing - the Red Toad showing - which returned significant assays in two grab samples, 1691 g/T Au and 153 g/T Au. Known showings were examined and several were sampled during the program yielding the following results: /T/ ------------------------------------------------------------------- Showing Sample Width Grade Width Grade Type (m) (g/T Au) (ft) oz Au/t ------------------------------------------------------------------- Fleur-de-Lys Grab n/a 694 n/a 20.24 ------------------------------------------------------------------- Channel 0.54 521 1.8 15.20 ------------------------------------------------------------------- Moman Grab n/a 216 n/a 6.30 ------------------------------------------------------------------- Lingo-Nord Grab n/a 1213 n/a 35.38 ------------------------------------------------------------------- Isabelle Grab n/a 299 n/a 8.72 ------------------------------------------------------------------- Muscovite Grab n/a 8.04 n/a 0.23 ------------------------------------------------------------------- Du Loup Grab n/a 75.3 n/a 2.20 ------------------------------------------------------------------- Sortileges Dores Grab n/a 64.5 n/a 1.88 ------------------------------------------------------------------- Note: T equals metric tonne, t equals short ton Other several new high-grade gold occurrences were found during prospecting near these known showings. The best results are listed below: ------------------------------------------------------------------- Proximity Sample Width Grade Width Grade Type (m) (g/T Au) (ft) oz Au/t ------------------------------------------------------------------- East of Grenouille 1 Grab n/a 3.81 n/a 0.11 ------------------------------------------------------------------- Grab n/a 21.4 n/a 0.62 ------------------------------------------------------------------- Rumba Grab n/a 6.39 n/a 0.19 ------------------------------------------------------------------- Grab n/a 4.21 n/a 0.12 ------------------------------------------------------------------- East of Lingo Grab n/a 5.7 n/a 0.17 ------------------------------------------------------------------- These results extend the previously known mineralization trends within these areas. During the course of the program, a new high- grade gold showing was found - Red Toad Showing - located approximately 500 meters to the east of the bulk of previous trenching work conducted on the property. A more continuous series of quartz veins anomalous in gold has been traced over a 500-meter strike length within a large intrusive tonalite in this area. The tonalite lies within the eastern extension of the previously mapped and laterally extensive Wolf Fault. Significant results returned from this area include: -------------------------------------------------------------------- Showing Sample Width Grade Width Grade Type (m) (g/T Au) (ft) oz Au/t -------------------------------------------------------------------- Red Toad Grab n/a 1691 n/a 49.32 -------------------------------------------------------------------- Grab n/a 153 n/a 4.46 -------------------------------------------------------------------- Channel 0.8 8.38 2.6 0.24 -------------------------------------------------------------------- Channel 0.5 2.95 1.6 0.09 -------------------------------------------------------------------- Channel 0.33 2.19 1.1 0.06 -------------------------------------------------------------------- The Aquilon Project covers 6,370 hectares of a folded, highly deformed greenstone belt hosting a felsic volcanic center with auriferous mineralization. Previous work conducted by Sirios and SOQUEM (1997-2003) outlined numerous relatively short, shallow- dipping high-grade ( greater than 20 g/T Au) quartz veins within the 4 km x 400 meter NE-oriented Wolf Fault. Very high gold assays have been returned from some of these veins: 287.4 g/T Au over 2.3 m and 110.2 g/T Au over 3.49 m. Three main types of mineralization have been reported on the property: 1) High-grade gold veins within felsic rocks along the Wolf Fault: Lingo, Grenouille I-II, Moman, Fleur-de-Lys, MA-1, Ete Indien, Muscovite, Isabelle, Elle, Nouska, Z-1, Norvin and Samba showings. 2) Low-grade gold-copper-zinc disseminated sulfide associated with formational geophysical conductors: Sortileges Dores, Small Moose, Choco, Blueberry Wolf, SL, and Chicoutai showings 3) Auriferous disseminated sulfides and quartz veins in mafic volcanic rocks injected by felsic dikes in the hinge of megafolds: Sortileges Dores showings. /T/ Golden Tag is currently planning an exploration program on the property, specifically within the Red Toad area where vein continuity, structure and the geological setting of mineralization appears to be most favourable. The property is readily accessible year-round by a gravel road which services the Laforge-1 hydroelectric dam. The exploration program was conducted and supervised by Qualified Persons David Rigg, M.Sc.,P.Geo. Bruce Robbins, M.Sc.A. P.Geo. and Harold Desbiens, M.Sc. P.Geo. Samples were assayed by ALS Chemex Labs of Val d'Or and included analysis of standard and blank samples for QA/QC purposes. Channel samples were extracted between parallel diamond saw cuts taken perpendicular to the veins. Due to the high-grade nature of the mineralization metallic screen assays (Au-SCR21) were run on samples containing visible gold. Samples lacking visible gold were assayed by 30gm fire assay methods with Atomic Absorption finish and repeated with gravimetric finish in case of significant results. SIRIOS is discovering precious and base metals in Quebec. SIRIOS is the main shareholder of DIOS EXPLORATION INC. (TSX-V: DOS), a leader in diamond exploration in Quebec.For more information:
Dominique Doucet, CEO
ddoucet@sirios.com
Phone: 514-510-7961
