MONTREAL, QUEBEC, CANADA–(Marketwire – May 1, 2008) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) and partner DIOS EXPLORATION plan early summer drilling of their new uranium discovery of late last Fall on the UPINOR Project: within the A zone, all ten outcrop samples grabbed over a 300 m by 100 m area returned the following economic values as U3O8 percentages: 2.064, 1.427, .383, .267, .218, .108, .076, .061, .056 et .038 for an average of .47 % U3O8. Writing off the two highest values, a grade of .15 % U3O8 (3 pounds per ton) is still obtained. Another area more to the east, after an 800 m stretch of small lakes returned for all 11 samples taken the following results in U3O8 percentages: .112, .102, .097, .081, .078, .063, .058, .031, .028, et .016 et .012, for an average of .06 % U3O8 over more than 400 m by 200 m (.072 % without the two lowest values from the outer border of the mineralized zone). The 800 m stretch without any data available up to now between the two zones will have to be drilled underneath the small lakes. Six outcrops over a 700 m strike length more to the north of these lakes returned, for all samples collected, the following values in percent of U3O8 : .109, .086, .147, .026, .029 et .043, averaging again around .073% U3O8. Helicopter borne spectrometry data completed to date suggests the extent of the A zone through a significant and continuous uranium anomaly over at least another 2 kilometre long strike east of the sampled areas over a 200-450 m width, with uranium over thorium ratios even higher than the ones obtained over the first sampled areas. This discovery bears similarities to the Namibian Rossing deposit in the occurrence of mineralization associated with anatexis pegmatite dyke-swarms, in close proximity, making it amenable to opencast, low-cost mining. The Rossing mine, a world class uranium deposit located in Namibia, in southern Africa, accounting for 7.5% of the world’s supply of uranium oxide, has been producing uranium oxide for the last 30 years, approximately 165 million pounds of uranium oxide from 0,034 % U3O8 ore.
Other prospecting and geophysical work as well as diamond drilling is planned in the very short term, early this summer, to evaluate the potential for a large mineralized volume of surface rock, reducing operating costs and enabling the mining of lower grades than in underground mines. Such uranium deposits projects can only be economically feasible usually less than some 100 kilometres away from a road or sea access. The UPINOR northern and northwestern blocks are located about 50 km south of the all-season Trans-Taiga road, a major favourable issue to consider.
The property is held in partnership (50%-50%) by SIRIOS RESOURCES and DIOS EXPLORATION, without any encumbrances, and DIOS is the operator. SIRIOS holds approximately 4% of the share capital of DIOS.
This press release was prepared by Dominique Doucet P. Eng., qualified person pursuant to National Instrument 43-101.
Forward-Looking Statements: This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company’s products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Dominique Doucet, CEO