MONTREAL, QUEBEC–(Marketwire – Jan. 14, 2008) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces the completion by partner Golden Valley Mines Ltd. (TSX VENTURE:GZZ) of the previously announced diamond drilling program on the CHEECHOO Gold Project located in the Eleonore Gold Area, James Bay, Quebec (Ref.: October 10, 2007 Press Release).
The program totalled 2,537 linear metres of NQ core in nineteen (19) holes over the Cheechoo A, Sharks and Cheechoo B claims groups, including the “Letang”, “Inex southeast extension”, “Marchand” and “Garrioch” gold showings / mineralized corridors.
All the holes have now been logged and 682 samples submitted for analysis. Complete assay results are expected by the end of the present quarter.
The scope and size of the 2008 exploration program will be determined following receipt of all outstanding assay results (humus, rock, channel and core samples) and data compilation.
The CHEECHOO Gold Project includes the CHEECHOO and SHARKS SIRIOS’ properties both subject to option – joint ventures agreements with GZZ pursuant to which GZZ, in each case, will earn an initial 60% interest by funding $1,000,000 in exploration over 4-years. Following initial vesting, GZZ may then earn an additional 20% interest by completing a bankable feasibility study within 6 years of vesting. Should SIRIOS then elect to allow GZZ to provide the production financing, GZZ would then acquire a final additional 5% interest.
In addition to the CHEECHOO and SHARKS properties, covering 300 square km, SIRIOS owns and explores for gold more than 3,500 claims forming the PONTAX, KUKAMES and OPINACA NORD properties, which are covering more than 1,750 square km in the vicinity of the Goldcorp’s Eleonore gold deposit, James Bay, Quebec.
This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person and based on information transmitted by Golden Valley Mines Ltd.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information:
Dominique Doucet, CEO