Montreal, Quebec – October 17, 2023 – Sama Resources Inc. (“Sama” or the “Company”) (TSXV: SME) (OTC: SAMMF) is pleased to announce an ongoing 3,800 metre (“m”) drilling program at the Yepleu prospect located 25 km south-west of the Samapleu-Grata deposits in western Côte d’Ivoire, West-Africa.

The current drilling program is following-up on near surface nickel (“Ni”), copper (“Cu”) and platinum group of elements (“PGE”) mineralisation previously discovered by Sama. The investigated area represents a corridor of approximately three kilometres (“km”) oriented north-west to south-east by 500 m to 700 m wide (Figures 1 & 2) and overlays strong conductivity from our 2013 and 2018 airborne electromagnetic surveys. The drilling program started in mid-September 2023 and is expected to last until mid-November.

“We are excited to initiate this substantial drilling program at the Yepleu prospect near the surface mineralised zone. Sama’s  focus over the past five  years has largely been on the deep potential at Yepleu, using Ivanhoe Electric proprietary Typhoon technology.  This new corridor at Yepleu gives us the opportunity to unlock the near surface potential at Yepleu as well.” said Dr. Marc-Antoine Audet, President and Chief Executive Officer of Sama Resources.”  Dr. Audet added, “The Yepleu’s 24km2 prospective area has consistently demonstrated its mineral-rich potential since we discovered the sector”.

The objective of the current drilling program is to delineate near surface Ni-Cu-PGE mineralisation that has the potential to increase the global mineral resources of the entire project area. Eighteen holes totaling 1,200 m have been drilled to date, a total of 50 holes and 3,800 metres are planned. Drilling is being conducted using two Sama owned core drill rigs. Assays results are pending.

In June 2023, the Company announced a revised mineral resource estimate for the Samapleu-Grata deposits, a combined estimate of 101.9 million tonnes (“Mt”) averaging 0.25% Ni for 558.6 million pounds (“Mlbs”) of Ni metal, 0.23% Cu for 526.8 Mlbs of Cu metal, 0.01% Co for 33.4 Mlbs of cobalt (“Co”) metal, 0.29 g/t Pd for 939,400 ounces of palladium (“Pd”) and 0.1 g/t Pt for 311,400 ounces of platinum (“Pt”), and 14.99 Mt averaging 0.25% Ni for 81.6 Mlbs of Ni metal, 0.22% Cu for 72.9 Mlbs of Cu metal, 0.02% Co for 5.5 Mlbs of Co metal, 0.31 g/t Pd for 149,400 ounces of Pd and 0.1 g/t Pt for 49,500 ounces of Pt for the Inferred and Indicated categories respectively.

The Samapleu-Grata-Yepleu mineralization is signature of a layered, pipe-like intrusion or conduit-hosted nickel deposits. These rare types of intrusions host the world’s largest Ni-Cu deposits such as Jinchuan, Voisey’s Bay, Kabanga, Eagle, Eagle Nest and N’komati.

Sama discovered the Ni-Cu-PGE mineralization when it discovered the Yacouba layered complex of mafic and ultramafic rock. This layered complex was created approximately 2.1 billion years ago by the intrusion of magma through the Man Shield. The Yacouba complex can be traced over a strike length of more than 30 kilometers within Sama’s properties in Côte d’Ivoire.

Figure 1: Sama’s Samapleu project combined exploration permits showing all highly prospecting sectors that remains to be investigated.

Figure 2: Surface map at the Yepleu prospect showing 2023 drill hole locations.

Photo of core from drill hole S-342 showing massive sulphide lenses within a 26 m thick magmatic pyroxenite. Massive sulphide lenses typically carry elevated nickel, copper and PGE values, assays are pending.

NI 43-101 and QA/QC

Core logging and sampling was performed at Sama’s Samapleu and Yepleu field facilities. Sample preparations are conducted at the Bureau Veritas Mineral Laboratory in Abidjan, Cote d’Ivoire. Sample pulps will be delivered to Activation Laboratories Ltd, Ancaster and Thunder Bay, Ontario, Canada, for assaying. All samples will be assayed for Ni, Cu, Co, Fe, S, Pt, Pd and Au using sodium peroxide fusion ICP for the first five elements and by Fire Assay ICPOES for the last three.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.D. Geology, P.Geo and President and CEO of Sama, a ‘qualified person’, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Sama has prepared an independent NI 43-101-compliant technical report for the Samapleu Project, which is available on the company’s website and under the company’s SEDAR+  profile at www.sedarplus.ca titled “Mineral Resource Estimate for the Samapleu and Grata Deposits Project” with an effective date of 27 June 2023 prepared by Todd McCracken, P.Geo. of BBA International Inc. and Chris Martin, C. Eng. Independent Consultant.

The technical report includes relevant information regarding the assumptions, parameters and methods of the mineral resource estimates on the Samapleu Project cited in this news release, as well as further information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this news release.

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.

About Ivanhoe Electric Inc.

Ivanhoe Electric (NYSE American: IE, TSX: IE is a U.S. company that combines advanced mineral exploration technologies with electric metals exploration projects predominantly located in the United States.  For more information, visit www.ivanhoeelectric.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 ability of the company 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 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.