Montreal, Quebec, October 1, 2018 – Sama Resources Inc. (TSXV: SME) (“SME” or the “Company”) today reports that SRG Graphite Inc. (“SRG”) provided an update on the ongoing feasibility study for the Lola Graphite Project in Guinea, West Africa, announced earlier this month. Fieldwork required for the feasibility study is either well under way or completed ahead of schedule or on time. Given the positive advancement of fieldwork, SRG management is confident in the timeline established.
The mine geotechnical fieldwork, piloted by Mine Design Engineering (“MDEng”), is completed. Samples are already at the laboratory and preliminary results should be received by year’s end. The mine geotechnical study will help SRG design the open-pit mine by assessing soil composition over and around the deposit.
Core samples being logged by MDEng
Similarly, the civil geotechnical fieldwork, piloted by Sahara Natural Resources (“SNR”) and DRA, is also completed. Samples are already at the laboratory, and preliminary results should also be received by year’s end. The civil geotechnical study will contribute to finalize plant location.
The hydrogeology fieldwork, also piloted by SNR and DRA, is well under way. Four of the six projected wells have already been dug. The groundwater study is essential for open-pit mine design and the environmental impact study.
For tailing storage facility (“TSF”) design, Epoch Resources has conducted their initial site visit in mid-September. They have identified nine potential TSF. Epoch will now evaluate which site is best suited for the project and define the tailings management method. Results of this study will be known by year’s end.
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 https://samaresources.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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.