Press Release, Column Leach Test Results Exceed Expectations for the Cheechoo Gold Project, Quebec

MONTREAL, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce the results of metallurgical tests that were performed on approximately 500 kg of a composite sample material, representative of gold mineralization on the Cheechoo property. These tests, performed by the renowned firm KCA over several months in Reno, Nevada, were completed in January 2021.

After 151 days of column leaching, with a crushing size of 6.3 mm, gold recoveries were 80% at 20°C and 76% at 4°C (Table 1). The tests were conducted at various temperatures to simulate conditions that could be encountered in an environment simulating crushed and stacked mineralized material in the Cheechoo Project area. The average gold recovery results obtained were 78%, which is higher than the typical gold recoveries for heap leach projects (55-75%) according to the Canadian Mining Journal.1

The tests also showed that reagent consumption remained low throughout the leaching process (average of 1.93 kg/t NaCN).

Table 1: Summary of Column Leach Work

Dominique Doucet, founder and CEO of Sirios, stated: "Several gold processing options are being evaluated for the Cheechoo Project, including heap leach and conventional mill treatment. However, the results released today are very encouraging and clearly demonstrate that heap leach is a viable option for recovering gold from the Cheechoo deposit. Now that these tests have been completed, the next step for the project will be to conduct a definition drilling program planned for the summer of 2021, with the goal of completing a Preliminary Economic Assessment (PEA) study thereafter.”

About heap leaching

Column leach tests are metallurgical tests specifically designed to evaluate the gold recovery rate using the heap leach extraction method.

Heap leaching is a method of recovering precious metals that is widely used throughout the world, particularly in the United States (Nevada, Colorado, Alaska). It is also the method used at the Eagle Gold mine in the Yukon (operated by Victoria Gold), one of the most recent gold mines to go into production in Canada (2020). In addition to mining a style of mineralization, similar to that of Cheechoo (free gold from a Reduced Intrusion-related Gold System), the Eagle Gold mine is located in northern Canada and operates in cold weather conditions similar to those found on the Cheechoo property.

When the type of mineralization is appropriate (which seems to be the case for Cheechoo), heap leaching is a simple, low-cost process that can be very advantageous as it can result in significant savings in capital expenditures (CAPEX) and operating costs (OPEX), which can significantly improve a project's economics.

The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng. President and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo., Senior Geologist, Qualified Persons as defined by NI 43-101.

About the Cheechoo Property

The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant potential to increase this resource.3

About Sirios

A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec, Canada, Sirios Resources Inc. is focusing primarily on its Cheechoo gold discovery, while actively exploring for the gold potential of its other properties.

Forward-Looking Statements:

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Rules of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact :
Dominique Doucet, President, CEO, Eng.
Tel. : (514) 918-2867
ddoucet@sirios.com
website : www.sirios.com

1 Canadian Mining Journal, 2020-09-01, « Sorting through the heap », www.canadianminingjournal.com/features/sorting-through-the-heap
2 High Pressure Grinding Rolls
3 BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020