St. John’s, NL, July 13, 2021 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) today announced the execution of two (2) property option agreements on behalf of the strategic alliance between the Company and Benton Resources Inc. (“Benton”) (see news release dated May 20, 2021) to add additional mineral claims to the Grey River Gold Property in the province of Newfoundland and Labrador, Canada.
Pursuant to an option agreement (the “Lewis Option Agreement”), Gary Lewis (“Lewis”) has granted Sokoman the option to acquire a 100% interest in a property license consisting of seven claims (the “Lewis Property”) subject to a 1.5% net smelter return royalty (the “Lewis NSR”) in favour of Lewis (the “Lewis Option”). One percent of the Lewis NSR may be purchased by the Company for $1 million at any time. The Lewis Option Agreement will terminate if Sokoman fails to complete any of the following terms, and each cash payment and share issuance is to be made equally among Gary Lewis, Aubrey Budgell and Paul Delaney:
- the payment of $10,000 cash;
- the issuance of 50,000 shares of Sokoman upon TSX Venture Exchange (the “Exchange”) approval;
- the payment of a further $10,000 and the issuance of a further 50,000 shares on or before the first anniversary of the Lewis Option Agreement;
- the payment of a further $10,000 and the issuance of a further 50,000 shares on or before the second anniversary of the Lewis Option Agreement; and
- the payment of a further $10,000 and issuance of a further 50,000 shares on or before the third anniversary of the Lewis Option Agreement.
Pursuant to a second option agreement (the “G2B Gold Option Agreement”), G2B Gold Inc. (“G2B Gold”) has granted Sokoman the option to acquire a 100% interest in a property consisting of three licenses comprised of four claims (the “G2B Property”) subject to a 1.5% net smelter return royalty (the “G2B NSR”) in favour of G2B Gold (the “G2B Gold Option”). One percent of the G2B NSR may be purchased by the Company for $1 million at any time. The G2B Option Agreement will terminate if Sokoman fails to complete any of the following terms, and each cash payment and share issuance is to be made equally among G2B Gold, United Gold Inc. and Grassroots Prospecting & Prospect Generation Inc.:
- the payment of 10,000 cash;
- the issuance of 50,000 shares of Sokoman upon Exchange approval;
- the payment of a further $10,000 and the issuance of a further 50,000 shares on or before the first anniversary date of the G2B Gold Option Agreement;
- the payment of a further $10,000 and the issuance of a further 50,000 shares on or before the second anniversary date of the G2B Gold Option Agreement.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland and Labrador, Canada. The Company’s primary focus is its portfolio of gold projects: flagship Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The Company also recently entered into a strategic alliance with Benton Resources Inc. through three large-scale joint venture properties including Grey River Gold, Golden Hope and Kepenkeck in Newfoundland. Sokoman now controls independently and through the Benton alliance over 150,000 hectares (>6,000 claims – 1,500 sq. km), making it one of the largest landholders in Newfoundland, Canada’s newest and rapidly-emerging gold districts. The Company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project that has Direct Shipping Ore (DSO) potential.
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company’s website. Parties interested in seeking more information about properties available for option can contact Mr. Stares directly.
To learn more, please contact:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Stephen Stares, President & CEO
Timothy Froude, P.Geo., President & CEO
Website: www.bentonresources.ca , www.sokomanmineralscorp.com
Twitter: @BentonResources , @SokomanMinerals
Facebook: @BentonResourcesBEX , @SokomanMinerals
LinkedIn: @BentonResources, @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.