Sokoman Minerals: Innovative Bulk Sampling and Major 2024 Drilling to Unlock High-Grade Newfoundland Gold Potential

• Positive drill results from their Moosehead gold project in Newfoundland, including 10.25m at 84g/t gold
• Agreement with Novamera Inc. to use their innovative technology for an upcoming bulk sample at Moosehead to efficiently extract high-grade zones
• Drilling will resume at Moosehead with 8-10,000m planned; deeper holes to 800-1000m will also test the project at depth for the source of the gold
• Exploration is ramping up at the earlier-stage Fleur de Lys project where numerous angular, gold-bearing boulders point to a local bedrock source
• Well-funded for its 2024 exploration plans to reignite interest in the Central Newfoundland gold play

Promising Results at Central Newfoundland Targets

Sokoman Minerals (TSXV:SIC), a well-funded gold exploration company focused in Newfoundland, Canada, recently announced encouraging developments on its two key projects that could lead to major new gold discoveries in 2024. With a large drill program about to commence to follow up on bonanza-grade intercepts at the flagship Moosehead project, and an innovative bulk sampling technology to be utilized, Sokoman appears poised to unlock the value of this high-grade gold system. Meanwhile, exploration is ramping up at the earlier-stage but highly prospective Fleur de Lys project, where gold-bearing boulders point to an untested bedrock source.

High-Grade Results and Innovative Bulk Sampling at Moosehead

The Moosehead project, Sokoman's most advanced, continues to yield high-grade gold drill intercepts. Most recently, the company reported 10.25 meters grading 84.3 g/t gold in hole MH-23-166A and 12.0 meters of 44.1 g/t gold in hole MH-23-166B. These bonanza-grade intercepts come from the Footwall Splay zone, which Sokoman believes is a priority target for bulk sampling.

Sokoman has agreed with Novamera Inc. to extract a bulk sample as efficiently and sustainably as possible to utilize its proprietary technology. As Sokoman CEO Tim Froude explained in a recent interview,

"It's a very closed system; it recycles water, it's a very environmentally minor small footprint, and could be very helpful for not just a project like us, but other projects as well."

Novamera technology will use precise 3D modeling to surgically extract the high-grade core of the Footwall Splay vein. The system can mine a volume up to several meters in diameter down to tens or even hundreds of meters—far deeper than a surface bulk sample could achieve. This will extract only the targeted high-grade material as a slurry, with no waste rock or need for a tailings pond or mill. As Froude said, "You almost won't even see it, you know, sort of thing."

Interview with President & CEO Timothy Froude

Upcoming 2024 Drill Program

Looking ahead to the rest of 2024, an 8,000-10,000 meter drill program is planned for Moosehead starting in the next few weeks. A key focus will be the 552 Zone, discovered in late 2023. While initial results have been modest compared to the ultra high-grade hits elsewhere at Moosehead, Froude sees strong potential: "There's high-grade in there somewhere. We know that over narrow intervals, we can get 10 to 12 grams, and we still don't know how big the system is yet."

The company also plans to test the deeper potential at Moosehead with several holes reaching 800-1000m depth. These will target potential thrust fault repetitions and the roots of the gold system. Sokoman believes these deep holes could be "game-changers" for expanding the Moosehead discovery.

Fleur de Lys: The Next Discovery Opportunity

Sokoman's Fleur de Lys project is an earlier-stage but highly promising opportunity in the same Newfoundland gold play. 2024 prospecting uncovered over 30 angular, gold-bearing boulders up to several meters in size at the aptly named Golden Boulder prospect. The boulders' large size and angular nature point to a nearby bedrock source.

Sokoman will aim to discover this hard rock source with an initial 2,000m drill program starting in July. The drill targets are bracketed by the boulder field at one end and limited historical drilling by Noranda in the 1980s that hit anomalous gold at the other end. Froude is confident in the company's odds:

"It's not just one boulder or two boulders. We've got dozens of boulders, and they're all very angular and local. And with a couple more weeks of prospecting, we may even find it."

Sokoman Minerals offers investors a compelling opportunity for a major gold discovery in the underexplored jurisdiction of Newfoundland, Canada. With high-grade drill results, an innovative bulk sampling approach, and discovery potential at two key projects, Sokoman is well-positioned for an exciting year of exploration in 2024. The company's experienced team, prospective land package, and depressed valuation provide the right ingredients for a potential re-rating on exploration success. Steady news flow from over 10,000m of planned drilling and bulk sampling should provide catalysts throughout the year ahead.

The Investment Thesis for Sokoman Minerals

• Proven ability to discover and expand high-grade gold zones at Moosehead project with potential for a major deposit
• Innovative bulk sampling approach to surgically extract high-grade material with minimal environmental impact and unlock project value
• Significant blue-sky potential at Fleur de Lys, an earlier stage project with strong indicators of a local bedrock gold source
• Well-funded for planned 2024 exploration with over 10,000m of drilling at two projects, offering steady news flow and discovery potential
• Newfoundland is an underexplored but geologically prospective gold jurisdiction, and Sokoman has a first-mover advantage with a district-scale land package
• Proven management and geological team with a track record of gold discoveries in Newfoundland
• Attractive entry point with depressed share price due to a general lack of interest in Newfoundland gold stocks, providing leverage to exploration success

Actionable Advice for Investors

• Take a position ahead of major 2024 exploration programs at two projects with strong discovery potential
• News flow should be steady with 10,000m of drilling and bulk sampling results at the more advanced Moosehead and initial drilling at Fleur de Lys
• Sokoman may be an attractive takeout target for a mid-tier or major gold producer if it can make a multi-million-ounce high-grade discovery at Moosehead or Fleur de Lys

The broader market environment supports gold exploration and development companies like Sokoman. Despite recent volatility, gold prices remain near all-time highs, providing a strong incentive for gold miners to replace depleted reserves and grow production. Meanwhile, many industry observers see Newfoundland as an emerging gold district with strong geological potential that has been underexplored compared to other regions.

As Sokoman CEO Tim Froude stated, "The price of gold is doing fantastic, and if you stand in the rain long enough, hopefully you'll get trickled on."

For investors seeking outsized returns, well-funded junior explorers like Sokoman provide crucial exposure to potential new gold discoveries in promising jurisdictions worldwide.

With central banks continuing to print unprecedented sums of money to combat economic slowdowns, gold's historical role as a stable store of value and inflation hedge could drive even greater investor interest in the years ahead. In this environment, companies that can make new, high-grade gold discoveries in pro-mining jurisdictions like Newfoundland should be well-positioned to create significant shareholder value.