Montreal, Quebec, August 14, 2023 – Sama Resources Inc. (“Sama” or the “Company”) (TSX-V: SME OTC PINK SHEETS: SAMMF) today announced that the Company has filed on SEDAR+ an independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101) supporting the results of a Mineral Resource Estimate of its Samapleu Nickel-Copper project located in Ivory Coast, West Africa previously reported in the Company’s news release dated June 27, 2023. There are no material differences in the Report from those results in the Company’s press release dated June 27, 2023. The effective date of the technical report is June 27, 2023.
The full technical report dated August 11, 2023 and entitled “ NI 43-101 Technical Report Mineral Resource Estimate for the Samapleu and Grata Deposits Project” can be found on the Company’s website at www.samaresources.com and on SEDAR+ under the Company’s issuer profile at www.sedarplus.ca. BBA International Inc. (BBA) prepared the revised Mineral Resource Estimate (“MRE”) in accordance with National Instrument 43 101 (NI 43-101) for Samapleu and Grata deposits, located in Cote d’Ivoire. The Technical report was prepared by independent consultants: Todd McCracken, P.Geo., of BBA and Chris Martin, C.Eng., an independent consultant.
QUALITY CONTROL AND ASSURANCE
All scientific and technical information contained in the report has been reviewed and approved by Todd McCracken, P.Geo., Director – Mining & Geology – Central Canada, BBA International Inc., the qualified person (QP), Christopher Martin, C.Eng., metallurgical consultant acting as a QP for the metallurgical section and Dr. Marc-Antoine Audet, Ph.D. Geology, P.Geo. and President and CEO of Sama, QP under the definitions established by National Instrument 43-101.
The Qualified Persons have reviewed and verified that the technical information with respect to the Revised Mineral Estimate contained in this press release is accurate and has approved the written disclosure of such information. For readers to fully understand the information in this press release, they should read the Technical Report in its entirety when it is available on SEDAR, including all qualifications, assumptions and exclusions that relate to the information to be set out in the Technical Report. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.
QUALIFIED PERSON
The resource estimate was prepared by Mr. Todd McCracken, P.Geo, of BBA International Inc. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. The resource classification follows the CIM definition for classification of Indicated and Inferred Mineral Resources. The criteria used by the QP for classifying the estimated mineral resources are based on confidence and continuity of geology and grades.
About Sama Resources Inc.
Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu nickel-copper project in Côte d’Ivoire, West Africa. The Company is managed by experienced industry professionals with a strong track record of discovery. Sama is committed to developing and exploiting the Samapleu Nickel-Copper and Platinum Group Element Resources.
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.
Sama owns 70% interest in the Samapleu nickel-copper project in Côte d’Ivoire with its joint venture partner Ivanhoe Electric owning 30%. Ivanhoe Electric has the option to purchase up to a 60% interest in the project.
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, Corporate Development Advisor
Tel: (604) 443-3835 or (877) 792-6688, Ext. 5
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”, “estimate”, “evidence”, “potential”, “appears”, “seems”, “suggest”, 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 completion of the conditions of the Arrangement, the listing of SRQ on the TSX-V, the proposed board of directors and management team of SRQ, the effects of the Arrangement on the Company and SRQ, the ability of SRQ to convert resources in reserves, its ability to see through the next phase of development on the project, its ability to produce a pre-feasibility study or a feasibility study regarding the project, its ability to execute on its development plans in terms of metallurgy or exploration, 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 SRQ’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 the 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.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.