NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
FOR: SIRIOS RESOURCES INC.
CDNX SYMBOL: SOI
AND DIOS EXPLORATION INC.
JANUARY 10, 2002 – 12:20 EST
Closing of $1,249,000 Financing by SIRIOS and DIOS
MONTREAL, QUEBEC, CANADA–SIRIOS RESOURCES and DIOS EXPLORATION
completed a $1,134,000 financing by prospectus. DIOS raised
$690,500 and SIRIOS $443,500. DIOS will issue 2,129,380 new
Common Shares and SIRIOS 2,861,100, resulting in 5,394,191 Common
Shares issued and outstanding for DIOS and 24,220,241 for SIRIOS.
DIOS will issue 576,920 warrants entitling their holder thereof to
subscribe one Common Share at $0.39 per share on or before May 23,
2003 and SIRIOS will issue 1,095,758 Common Share warrants at 0,20
$. Different Limited Partnerships did subscribe an amount of
$485,000 in this financing as well as a $115,000 private placement
recently completed outside Quebec by SIRIOS. Closing by DIOS of
this Initial Public Offering was the last step before listing
DIOS’ Common Shares on CDNX, which should take place around the
end of January 2002.
The proceeds shall be used by SIRIOS to incur Exploration
Expenditures mainly on the Matagami area SAMSON project and on
TILLY, James Bay, whereas DIOS will focus on the 33 CARATS diamond
project (510 sq. kilometers directly adjacent to the Ashton-Soquem
property hosting the recent discovery of two diamond-bearing
kimberlitic pipes). Almost 200 glacial till samples from this
project are actually being processed for Indicator Minerals. M.J.
Girard, President of DIOS, says that a good understanding of the
Quaternary Geology is a key element for diamond exploration in
glacial terrane. The larger Otish Mountains area offers a clear
advantage due to its rather simple glacial geology, which is also
well known following the uranium exploration history of the area.
Mrs Girard has 25 years experience in mineral exploration and
securities business. She worked for several years in the Otish
Mountains in the seventies. D. Doucet, Vice-President and P. Eng.
(geol.), and H. Desbiens, geologist, bringing a total of 40 years
of exploration experience to the Company, have in the past
discovered a diamond-bearing kimberlite (although sub-economic) in
Ailly Township, Quebec, in 1993.
DIOS has 3,264,811 shares outstanding held by SIRIOS, 1,972,220 of
these shares to be distributed to its shareholders before listing
DIOS’ shares on CDNX. SIRIOS will keep 1,292,591 shares, nearly
25 % of the 5,4 million shares issued by DIOS. SIRIOS, one of the
most dynamic mining exploration companies in Quebec, was granted
Prospector of the Year by the QPA, for its gold and base metals
discoveries in the James Bay area.
DIOS, a very active player in Eastern Canada Diamond Play, holds
100% interest in more than 1,450 sq. kilometers of high potential
properties for diamond discovery within the Superior Craton:
Scholfield, Ontario, and 33 Carats, Wemindji, Hotish (531 sq.
kilometers 100 km south of the Ashton-Soquem discovery), Quebec.
For more information:
Dominique Doucet, CEO
ddoucet@sirios.com
Phone: 514-510-7961
