SME:CC - Sama Resources Announces Filing of NI 43-101 Technical Report on Samapleu-Grata Nickel-Copper Project Cote d'Ivoire
(TheNewswire)
Montreal, Quebec – TheNewswire - May 03, 2024 – Sama ResourcesInc. (“ Sama ” or the “ Company ”) (TSX-V:SME OTC PINK SHEETS: SAMMF) today announced that the Company hasfiled on SEDAR+ an independent technical report (the “ Report ”) preparedin accordance with National Instrument 43-101 – Standards ofDisclosure for Mineral Projects (“ NI 43-101 ) supportingthe results of a Preliminary Economic Assessment (“ PEA ”) for theSamapleu-Grata Nickel-Copper project located in Côte d’Ivoire, WestAfrica. The Samapleu-Grata Nickel-Copper Project belong to Sama NickelCorporation owned jointly at 60/40 between Ivanhoe Electric Inc. (NYSEAmerican, TSX: IE) and Sama.
Sama notes that there has been an adjustment in thepost-tax NPV reported in its March 21, 2024 press release and theReport. The press release disclosed a post-tax NPV 8 of US$257M and a post-tax IRR of22.3%, whereas the Report discloses a post-tax NPV 8 of US$277M and a post-tax IRR of2 1.9%. The US$20M increase in post-taxNPV 8 and 0.4% decrease inpost-tax IRR is the result of certain taxadjustments within the financial model. When thetax calculations were corrected, the post-tax NPV increased andpost-tax IRR decreased accordingly.
The effective date of the Report is March 21, 2024.
The full Report entitled “ NI 43-101 P reliminary E conomic Assessment for the Samapleu and Grata Deposits Project ” can alsobe found on the Company’s website at https://samaresources.com/the-samapleu-grata-yepleu-ni-cu-pge-deposits-yacouba-intrusive-complex-western-cote-divoire/ and on SEDAR under the Company’s issuer profile at www.sedarplus.ca.
Grant of Stock Options
The Company is pleased toannounce, subject to regulatory acceptance, that the Company hasgranted an aggregate total of 680,000 incentive stock options tocertain officers, employees and consultants, subject to certainvesting provisions. These options will be exercisable at a price of$0.11 per common share and will expire on May 03, 2034.
About Sama Resources Inc.
Sama is a Canadian-based, growth-oriented resourcecompany focused on exploring the Samapleu nickel-copper project inCôte d’Ivoire, West Africa. The Company is managed by experiencedindustry professionals with a strong track record of discovery. Samais committed to advancing the Samapleu-Grata Nickel-Copper Project.Sama’s projects are located approximately 600 km northwest ofAbidjan in Côte d’Ivoire and are flanked to the west by the Ivorianand Guinean borders. Sama’s projects are located adjacent to thelarge world-class nickel-cobalt laterite deposits of Sipilou andFoungouesso, forming a 125 km-long new Base Metal Camp in West Africa.Sama owns 40% interest in the Samapleu nickel-copper project in Côted’Ivoire with its joint venture partner Ivanhoe Electric owning 60%.
For more information, please visit www.samaresources.com.
Ivanhoe Electric is a U.S. company that combinesadvanced mineral exploration technologies with electric metalsexploration projects predominantly located in the United States.Ivanhoe Electric uses its accurate and powerful Typhoon TM geophysicalsurveying system, together with advanced data analytics provided byits subsidiary, Computational Geosciences Inc., to accelerate andde-risk the mineral exploration process as we seek to discover newdeposits of critical metals that may otherwise be undetectable bytraditional exploration technologies. Ivanhoe Electric believes theUnited States is significantly underexplored and has the potential toyield major new discoveries of critical metals. Ivanhoe Electric’smineral exploration efforts focus on copper as well as other metalsincluding nickel, vanadium, cobalt, platinum group elements, gold andsilver. Through the advancement of its portfolio of electric metalsexploration projects, headlined by the Santa Cruz Copper Project inArizona and the Tintic Copper-Gold Project in Utah, as well as otherexploration projects in the United States, it intends to supportUnited States supply chain independence by finding and delivering thecritical metals necessary for the electrification of the economy.Ivanhoe Electric also operate a 50/50 joint venture with Saudi ArabianMining Company Ma’aden to explore for minerals on ~48,500km 2 of underexplored Arabian Shield in the Kingdom of SaudiArabia. Website: www.ivanhoeelectric.com .
Contact Information:
Dr. Marc-Antoine Audet, P. Geo, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston, Vice President of CorporateDevelopment
Tel: (604) 443-3835
Renmark Financial Communications Inc.
Bettina Filippone
bfilippone@renmarkfinancial.com
Tel: (416)-644-2020 or (212)-812-7680
www.renmarkfinancial.com
Forward-Looking Statements
Certain of the statements made and informationcontained herein are "forward-looking statements" or“forward-looking information” within the meaning of Canadiansecurities legislation. Forward-looking statements and forward-lookinginformation such as “will”, could”, “expect”,“estimate”, “evidence”, “potential”, “appears”,“seems”, “suggest”, are subject to a variety of risks anduncertainties which could cause actual events or results to differfrom those reflected in the forward-looking statements orforward-looking information, including, without limitation, theability of the company to convert resources in reserves, its abilityto see through the next phase of development on the project, itsability to produce a pre-feasibility study or a feasibility studyregarding the project, its ability to execute on its development plansin terms of metallurgy or exploration, the availability of financingfor activities, risks and uncertainties relating to the interpretationof drill results and the estimation of mineral resources and reserves,the geology, grade and continuity of mineral deposits, the possibilitythat future exploration, development or mining results will not beconsistent 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 orother unanticipated difficulties with or interruptions in explorationor development, the potential for delays in exploration or developmentactivities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses,commodity price fluctuations, currency fluctuations, expectations andbeliefs of management and other risks and uncertainties.
In addition, forward-looking statements andforward-looking information are based on various assumptions. Shouldone or more of these risks and uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may varymaterially from those described in forward-looking information orforward-looking statements. Accordingly, readers are advised not toplace undue reliance on forward-looking statements or forward-lookinginformation. Except as required under applicable securitieslegislation, the Company undertakes no obligation to publicly updateor revise forward-looking statements or forward-looking information,whether as a result of new information, future events orotherwise.
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