Sokoman Minerals Reports Phase 5 Results at Moosehead Gold Project

All zones are open and expanding; upcoming 10,000 m Phase 6 drilling will test deeper targets

ST. JOHN’S, NL / ACCESSWIRE / July 15, 2020 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) (the “Company” or “Sokoman”) is pleased to announce drill results from the recently completed Phase 5 diamond drill program at the Company’s flagship Moosehead Gold Project located in north-central Newfoundland, with the lower high-grade shoot continuing to deliver strong results. The program extended both the upper main zone and the lower high-grade shoot to the north where the zones remain open and are now approximately 500 m in strike length remaining open to depth.

A total of 4,619 m was drilled in 17 holes targeting the lower high-grade shoot at the -200 m vertical level, as well as near-surface mineralization in the upper main zone. The lower high-grade shoot reported strong results including the following selected highlights:

• MH-20-86 4.70 m @ 18.60 g/t Au, incl. 1.85 m @ 46.99 g/t Au (from 271.80 m downhole)*
• MH-20-82 9.50 m @ 5.70 g/t Au, incl. 1.70 m @ 29.19 g/t Au (from 206.50 m downhole)*

*Note: reported lengths are core lengths; true widths are believed to be 75-90% of reported lengths

Summary table of all Phase 5 results is attached, with the length, grades, dip, azimuth, and presence of visible gold indicated. A drill plan showing the location of the Phase 5 holes is also attached, and an updated model and longitudinal are being prepared for posting when completed.

Tim Froude, President and CEO of Sokoman, said: “We are very happy with what we are seeing, especially with regards to the structure of the deposit. The Eastern Trend shows good continuity, continues to increase in strike length and remains open along strike to the north and south and to depth. As with most high-grade gold systems, variability of mineralization and gold grades are expected. We are eager to test holes to at least twice the current depth, to a 400-m vertical level, and our next phase of drilling will be our most aggressive program to date. The Phase 6, 10,000 m program, will be focused on testing the continuity of the zones, and deeper targets, while extending the strike length in 25-50 m increments.”

The Phase 6 program is expected to start sometime in August 2020, once the Company has received all necessary permits. Sokoman has also recently received the remaining till sample results and is compiling this data with earlier results from our survey and historical sampling. The 3-D modelling of the mineralization is ongoing and undergoing revision with each Phase of drilling. A revised model for the Eastern Trend, which will include the Western Trend, is being prepared and will be posted on the website when completed.

Phase 5 Geology

Several holes were drilled to test the interpreted southern, down-plunging portion, of the lower high- grade shoot, to infill a 75-metre gap between historical drill hole MH-03-15 (52.54 g/t Au / 2.34 m) and Phase 4 drill hole MH-19-69a (18.10 g/t Au / 1.45 m, including 82.17 g/t Au / 0.30 m). MH-20-82 intersected the lower high-grade shoot 25 m north of historic hole MH-03-15, giving 5.70 g/t Au / 9.50 m, including 29.19 g/t Au / 1.70 m.

Drill holes MH-20-83, 84 and 85a intersected mineralized vein material that had been subjected to later shearing and reworking. MH-20-87 intersected a veined zone which typically occurs immediately above or below the auriferous vein. While the zone was truncated by a fault, the interval gave 0.60 g/t Au / 6.0 m with the last interval before the fault giving 1.50 g/t Au over 0.50 m. These brittle-ductile structures which cut and deform the auriferous veins are not unexpected as mentioned in previous news releases of January 31, 2019 and November 19, 2019:

• The highest-grade intersections (e.g. MH-18-01, 17 and 39) occur in a ductile-brittle Shear/Fault Zone of uncertain width which has a dip of 50 degrees East and a strike trend of 010 degrees.

• The Shear/Fault Zone is a large-scale, kilometric structure of uncertain regional strike beyond the small drilled area with possible links to the regional faults/thrusts bounding the gold district. It may be the most important structure in the area, and therefore the central axis of the Au system. Strike continuation of the structure is unknown and undrilled. As well as along the strike continuation, the best potential may lie at depth where the structure intersects the regional NE striking thrust faults.

• Vein style and host structures are typical of a sediment or intrusive hosted gold system controlled by reverse or strike-slip shears in a low-grade metamorphic, compressional regime.

• The relationship between shearing and folding is similar to the Bendigo-Fosterville gold deposits in Australia. These deposits are commonly multi-structured with principal shear-vein structures having considerable strike and depth extent to >1,000 m as at Fosterville.

Seven holes were drilled from the ice on North Pond to test the extensions of the upper shoots of the Eastern Trend. The two discrete mineralized zones identified in 2019 were intersected in the current program. An upper zone intersected at shallow depths (30-40 m downhole) in 2019 was extended to the north at slightly deeper depths (40-50 m downhole). Best values from the current program were from MH-20-88 with 2.20 g/t Au / 1.10 m. The final two ice-holes drilled in 2019 intersected a lower mineralized zone 110 m downhole. This zone is interpreted to continue to the north with a potentially slight downward plunge. Best values were from MH-20-92 returning 7.85 g/t Au / 3.00 m, including 26.99 g/t Au / 0.85 m. The general trend of both mineralized zones is toward historic hole MH-02-38 which returned 112 g/t Au / 2.02 m.

The lower high-grade shoot has given some of the highest-grade results at Moosehead, including MH-19-62 (7.2m @ 22.35 g/t Au) and MH-19-81 (6.4 m @17.34 g/t Au). MH-20-86 cut the lower high-grade shoot approximately 10m below MH-19-81 returning a comparable grade of 16.85 g/t Au over 5.20 m. The final hole of the program, MH-20-98, intersected the lower high-grade structure at a down hole depth of 296 m returning 4.16 g/t Au / 5.65 m incl 8.21 g/t Au / 2.50 m. The intersection in MH-20-98 is 75 m northeast of MH-19-81 and 27 m northeast of MH-20-97 (6.31 g/t Au / 3.10 m). The zone remains open to the north and downdip to the east.

COVID-19 Update

To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman is operating under federally and provincially mandated and recommended guidelines during the current COVID-19 alert level.

QP

This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.

Analytical Techniques / QA/QC

All core samples submitted for assay were saw cut by Sokoman personnel with one half submitted for assay and one half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman Minerals personnel. Samples, including duplicates, blanks and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. Eastern Analytical is an accredited assay lab that conforms to requirements of ISO/IEC 17025. Samples with possible visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Total pulp metallic analysis includes: the whole sample is crushed to -10 mesh; then pulverized to 95% -150 mesh; the total sample is weighed and screened 150 mesh; the +150 mesh fraction is fire assayed for Au, and a 30 g subsample of the -150 mesh fraction is fire assayed for Au; with a calculated weighted average of total Au in the sample reported as well. One blank and one industry approved standard for every twenty samples submitted, is included in the sample stream. In addition, random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. (TSX.V: SIC) (OTCQB: SICNF) is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects (Moosehead, Crippleback Lake and East Alder) in Central Newfoundland on the structural corridor hosting Marathon Gold’s Valentine Lake project (with measured resources of 1.16 Moz. of gold at 2.18 g/t, indicated resources of 1.53 Moz. of gold at 1.66 g/t and inferred resources of 1.53 Moz. of gold at 1.77 g/t (Marathon Gold Website) 150 km southwest of the Company’s high-grade Moosehead gold project*. The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland recently optioned to White Metal Resources Inc. In Labrador, the Company has a 100% interest in the Iron Horse (Fe) project.

*Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.

The Company would like to thank the Government of Newfoundland and Labrador for financial support of the project through the Junior Exploration Assistance Program. Sokoman has also applied for funding for the 2020 season.

To learn more, please contact:

Timothy Froude, P. Geo.,
President & CEO
709-765-1726
tim@sokomanmineralscorp.com

Cathy Hume, Director, Investor Relations
416-868-1079 x231
cathy@chfir.com

Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals

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.

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward- looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.

SOURCE: Sokoman Minerals Corp.

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