MONTREAL, QUEBEC–(Marketwire – Aug. 5, 2008) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces some modifications made to the ESCALE option agreement terms concluded with a private exploration company and announced on July 17 of this year. According to the modified option agreement, the new partner shall be granted a 50% interest in the property for exploration expenditures totaling 1.25 million canadian dollars over four years, including a firm 150,000 $ commitment the first year. No changes were made to the payments terms totalling $50,000 and SIRIOS remains the operator during the earn-in period.
The option agreement has been approved by the Company’s Board of Directors but is still subject to the approval of the regulatory authorities.
For more information regarding the ESCALE property, please refer to the July 17, 2008 press release.
This press release was prepared by Dominique Doucet, P. Eng., President of SIRIOS, Qualified Person.
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