Montreal, Quebec – September 10th, 2024 – Sama Resources Inc. (“Sama” or the “Company”) (TSXV: SME) (OTC: SAMMF) is pleased to announce that its Ivoirian subsidiary Sama Nickel Côte d’Ivoire SARL has been awarded a new drilling contract with a total value of CAD$700,000. The contract with Société pour le Développement Minier de Côte d’Ivoire (“SODEMI”), its joint venture partner in a few of its permits, is for the provision of one drill rig and crews in Côte d’Ivoire.
This award for 4,000 metres of diamond drilling at SODEMI’s Odienné Laterite project, provides additional liquidity to compliment the Company’s work at its flagship its Samapleu-Grata Nickel-Copper Project in Côte d’Ivoire.
Dr. Marc-Antoine Audet, President & CEO, commented: “Our team has extensive drilling experience in Côte d’Ivoire spanning over more than a decade and we are delighted to continue our excellent long-term working relationship with our partners at SODEMI. This contract is a recognition of the high standard of safety and operational performance delivered by our team.”
About Sama Resources Inc.
Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu-Grata Nickel-Copper project in Côte d’Ivoire, West Africa, a joint venture with Ivanhoe Electric Inc. (www.ivanhoeelectric.com). The Company is managed by experienced industry professionals with a strong track record of discovery. The Company released the 2024 Preliminary Economic Assessment for the Samapleu-Grata Nickel-Copper Project which shows the potential for a conventional open-pit mining operation producing both a conventional copper and nickel concentrate, together with cobalt, platinum, palladium and gold as by-products.
Sama’s projects are located approximately 600 km northwest of Abidjan in Côte d’Ivoire and are flanked to the west by the Ivorian and Guinean borders. Sama’s projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso, forming a 125 km-long new Base Metal Camp in West Africa.
For more information about Sama, please visit Sama’s website at www.samaresources.com.
Contact Information:
Dr. Marc-Antoine Audet, P. Geo, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston, Vice President of Corporate Development
Tel: (604) 443-3835
Renmark Financial Communications Inc.
Bettina Filippone
[email protected]
Tel: (416)-644-2020 or (212)-812-7680
www.renmarkfinancial.com
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 such as “will”, could”, “expect”, “help”, “liquidity”, 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 ability of the company to execute on its drilling contract, to generate profits and liquidity from the awarded drilling contract, the ability, its ability to see through the next phase of development on the project, its ability to execute on its development plans, the availability of financing for activities, risks and uncertainties relating to the interpretation of 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.