Montreal, Quebec, July 23, 2018 – Sama Resources Inc. (TSXV: SME) (“SME” or the “Company”) today reports that SRG Graphite Inc. (“SRG”) has filed, on July 20, its National Instrument 43-101 (“NI 43-101”) Technical Report supporting the initial resource estimate for its 100%-owned Gogota Nickel-Cobalt-Scandium deposit located in the Republic of Guinea, on SEDAR, as reported in the SRG’s news release dated June 6, 2018
The maiden mineral resource estimate includes a pit-constrained inferred resource of 44.9 million tonnes (“Mt”) of mineralized material grading 1.28% nickel (“Ni”) for 573,040 tonnes (“t”) of contained nickel. The cobalt (“Co”) grade of the resource is 0.13% Co for 59,560t of contained cobalt. The resource also contains 29.4 grams per ton (“g/t”) of scandium (“Sc”) for 1.17 tonnes of contained scandium in the limonitic portion of the deposit.
The NI 43-101 Technical Report was prepared by consultant Schadrac Ibrango, P. Geo, of Montréal-based Met-Chem, a division of DRA Americas Inc. Mr. Ibrango is a Qualified Person (“QP”), independent of SRG Graphite, within the meaning of NI 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
The Lola Graphite Project is under the direct supervision of Marc-Antoine Audet, P.Geo., and a QP as defined by National Instrument 43-101.
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa.
Sama holds a control position in SRG of 24,658,267 shares representing 35.54% of the issued and outstanding shares of SRG and is considered an insider for reporting purposes.For more information about Sama, please visit Sama’s website at http://www.samaresources.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
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FORWARD LOOKING STATEMENTS
Certain of the statements made and information contained herein are “forward-looking statements” or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of electrochemical characterization, drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.