NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: SIRIOS RESOURCES INC. TSX VENTURE SYMBOL: SOI DECEMBER 29, 2003 - 16:15 ET SIRIOS: Closing of Private Placements Totaling $407,000 MONTREAL, QUEBEC, CANADA--SIRIOS RESOURCES INC. reports the first closings of the non-brokered privates placements as released on December 1st 2003. Up to date, 2,272,727 units of SIRIOS, for gross proceeds to the Company of $250,000, have been subscribed. SOCIETE DE DEVELOPPEMENT DE LA BAIE JAMES and FONDS REGIONAL DE SOLIDARITE FTQ NORD-DU-QUEBEC subscribed respectively for $200,000 and $50,000. The price is $0.11 per unit and each unit consists of one Common Share and half a warrant, one warrant entitling its holder thereof to subscribe for one Common Share at $0.15 per share for a period of 12 months after the closing date and at $0.17 during the next 12 months. Other closings are expected for this $450,000 maximum placement offered to Venture Capital Funds and which should terminate on or before January 15, 2004. A second placement was completed: ten shareholders subscribed a total of 1,208,900 units of SIRIOS, for gross proceeds to the Company of $157,000. The price is $0.13 per unit and each unit consists of one flow-through share and half a warrant, one warrant entitling its holder thereof to subscribe for one Common Share at $0.15 per share for a period of 6 months after the closing date and at $0.17 during the next 18 months. There is a hold period of 4-months on all shares issued. There were no fees related to this financing neither as cash nor share issuance. The proceeds of these placements shall be used by SIRIOS mainly for exploration activities on its Quebec properties and for general purposes. SIRIOS is discovering precious metals in Quebec and in Brazil. SIRIOS is the main shareholder of Dios Exploration Inc. (TSX Venture Exchange - DOS), one of the leaders in diamond exploration in the Quebec Otish region.
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Dominique Doucet, CEO