MONTREAL, QUEBEC–(Marketwire – July 13, 2010) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces the signing of an agreement with prospectors which would allow SIRIOS to completely acquire the MTK property in the Chibougamau region – Chapais, Quebec.
This property contains a main gold showing discovered by the prospectors and was stripped on around 1000 m2. In this area, 36 rock grab samples were assayed, 20 of which yielded grades between 0.1 g/t and 8.8 g/t in gold, with four samples yielding more than 1 g/t. The gold is found in quartz veins in a carbonatized and pyritized gabbro. Other old gold showings are also reported to be on the claims. These showings will be verified by SIRIOS geologists, who will begin fieldwork on the property as early as this week.
The agreement allows SIRIOS to gain a 100% interest in the property with an initial payment of $10,000 at the time of signing, as well as subsequent instalments totalling $280,000 over a period of three years. The vendors keep a 2% Net Smelter Return, half of which (1%) is purchasable at any time by SIRIOS for one million and a half dollars ($1.5M). The property consists of 30 claims covering an area of 17 km2. It is easily accessible by road and is located at about thirty kilometres from the Chapais municipality, in Quebec.
This press release was prepared by Dominique Doucet, P. Eng., President of SIRIOS, Qualified Person pursuant to National Instrument 43-101.
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.
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Dominique Doucet, CEO