Drilling extends gold zones and intersects high grades at Cheechoo

MONTREAL, QUEBEC--(Marketwired - Nov 29, 2016) - The Management of SIRIOS (TSX VENTURE:SOI) is pleased to announce results of recently completed twenty three diamond drill holes on the Cheechoo gold property.

High gold grades were obtained in tonalite such as 118.5 g/t Au over 1.0 metre (zone I2) in drill hole #79, 13.6 g/t Au over 6.5 metres including 50.0 g/t Au over 1.7 metres (zone Jordi) in drill hole #81, 4.9 g/t Au over 10.0 metres including 27.8 g/t Au over 1.5 metres (zone I) in drill hole #77, 3.7 g/t Au over 10.2 metres including 14.0 g/t Au over 1.4 metres (zone L) in drill hole #82.

Drill hole #83 has yielded 2.6 g/t Au over 9 metres comprised in an interval of 1.5 g/t Au over 22 metres that is the extension of the section that yielded 12.08 g/t Au over 20.3 metres in drill hole #52.

In addition, drill hole #65 intersected, in meta-sedimentary rocks, at a vertical depth of approximately 90 metres, a quartz vein yielding 30.9 g/t Au over 1.9 metres. This vein had been intersected in drill hole #52 with a grade of 16.1 g/t Au over 1 metre at 30 metres below surface.

Extension of gold zones

Multiple drill holes intersected most of the gold zones I, I2, Jordi, K and L either at depth or laterally toward the south-west or the north-east. The I zone was extended toward the south-west with 4.3 g/t Au over 3 metres in drill hole #79 while drill hole #74 intersected it in the north-east with 1.6 g/t Au over 4.5 metres giving a lateral extension of more than 500 metres to this zone. The Jordi zone now extends laterally on more than 400 metres with drill holes #72 and 74 that intersected it in its north-east portion with 2.7 g/t Au over 4.5 metres and 2.3 g/t Au over 1 metre respectively and drill hole #81 in the south-west portion with 13.6 g/t Au over 6.5 metres including 50.0 g/t Au over 1.7 metres. Finally, drill holes #78 and 79 extended the I2 zone of more than 100 metres toward the south-west. Auriferous zones remain open at depth and toward the south-west. Longitudinal sections of zones Jordi and I are available at the following links:

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Auriferous halo

Results of recent drill holes continue to define and increase the extent of the auriferous halo which consists of large zones of low grade in tonalite, as indicated by most of drill holes from previous campaigns. A global average of 0.6 g/t Au over 187 metres has been calculated from weighted averages of gold grades and widths of drill holes #52E, 60, 61, 62, 72, 76, 77, 78, 81,82 and 83.

Drill holes #47 and 48, and till anomaly Areas

(drill holes #63, 64, 66, 68 and #69, 71, 73)

Seven drill holes were completed in areas of drill holes #47, 48 that yielded sections grading between 5 to 10 g/t Au over 1 metre each, and of auriferous till anomaly located respectively at 1.5 km and 3km north-west of the main drilled sector (please refer to the attached location map of drill holes). In the first case, results yielding up to 3.4 g/t Au over 1.1 metre and 1.9 g/t Au over 3.3 metre were obtained in drill holes #63 and #64 respectively. In the area of till anomaly, three drill holes did not locate the gold bedrock source, however drill hole #73 yielded anomalous grades up to 0.8 g/t Au over 5.4 metres. Exploration of this area will be continued to locate the bedrock source of the till anomaly, after interpretation of results.

Exploration campaign summer-autumn 2016

Until now, twenty seven NQ drill holes and the extension of drill holes 25 and 52 have been completed and assayed for approximately 6,930 metres. Main assays of drill holes #25E and #57 to 59 have been released and results from drill holes #60 to 83 and extension of #52 are presented in the table below.

The drilling campaign is still ongoing and nine new drill holes (#84 to 92) were drilled as of today totaling 2,080 metres. Processing of core samples is underway. Maps showing drill holes location are available at following links:

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"Gold Nugget effect"

Visible gold indicating the presence of coarse-free gold, is frequently observed and one of the features of the auriferous mineralization at Cheechoo. This feature implies that the project possesses intrinsically a strong ''nugget effect'' that is demonstrated by a variability in the measure of gold grades. It is reflected in the results table below that includes some samples of low grade values containing visible gold. Frequent re-assays are required causing thus longer delays before release of results. From a metallurgical point of view, this feature is encouraging, suggesting a high gravity gold recovery which was confirmed by preliminary tests undertaken in 2015 (reference press release March 24, 2015).

MAIN ASSAY RESULTS

DRILL HOLES #52E and #60 to #83

Information and coordinates of drill holes collars

Summer Autumn Cheechoo Campaign

The Cheechoo gold project, owned 100% by Sirios, is located in Eeyou Istchee James Bay, Quebec, 800 km north of Montreal, at 200 km east of Wemindji and less than 10 km from the Eleonore gold mine of producer Goldcorp.

Assay quality control

All NQ drill cores were described by personnel of Sirios at the Cheechoo exploration camp. They were then sent to Rouyn-Noranda to be sawed in half, with one half sent to a commercial laboratory for analysis and other half retained for future reference. A strict QA/QC program was followed by integrating blanks and standards to core samples, all of which were prepared by Services Technominex Inc. Of Rouyn-Noranda. They were then assayed for gold by fire assay and atomic absorption finish by Actlabs in St-Germain-Boulé, close to Rouyn-Noranda. Samples grading more than 3 g/t Au were re-assayed. Core samples with visible gold were assayed by pyro-analysis with metallic sieve from a sample of about 1 kg.

This press release was prepared by Jordi Turcotte, MSc., Geo. and Dominique Doucet, P. Eng., President of Sirios, Qualified Persons pursuant to National Instrument 43-101.

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.

Contact

Dominique Doucet
President, Eng.
ddoucet@sirios.com
(514) 510- 7961
(514) 510-7964
www.sirios.com