Sirius Exploration

June 24, 2009 11:04 ET

Dakota Salts - Option Agreements

For Immediate Release: 24 June 2009

                                       Sirius Exploration Plc
                                     ("Sirius" or the "Company")
                                  Dakota Salts - Option Agreements

Sirius  Exploration  Plc,  the  UK-based diversified mining and  exploration  holding  company  with
interests  in  North America, China and Macedonia, is pleased to announced that it has been  granted
two  options  to  acquire  the remaining 49% of Dakota Salts LLP ("Dakota Salts")  from  Transparent
Holdings Ltd. ("Transparent") and Sojourn Energy LLC ("Sojourn").

Under  the terms of the option agreements, Sirius has until 20th December 2009 to exercise  the  two
options,  the  aggregate  purchase price for Transparent's 24% of Dakota  Salts  being  £240,000  or
9,600,000  Sirius  ordinary  shares, and Sojourn's 25% of Dakota Salts  holding  being  £250,000  or
10,000,000  Sirius ordinary shares. The consideration for the grant of each option  is  £1  and  the
options are exercisable solely at the Company's call.

Dakota  Salts holds mineral leases in excess of 5,000 acres in North Dakota, USA, allowing  for  the
exploration  and  extraction  of salt and potash and the creation of  caverns  for  the  storage  of
compressed  air  for  electricity generation and the storage of natural gas and other  hydrocarbons.
North  Dakota is the base of one of the largest wind farm, electricity generation projects in  North
America with capital investment to expected to exceed $4 billion.

Richard Poulden, Chairman of Sirius, commented:
        "We  are  delighted to have concluded these two agreements which would enable  us  fully  to
        secure  our interests in Dakota Salts. The Dakota project is a key long term asset  for  our
        business  as  we  continue  to move our plans forward regarding the  potash  excavation  and
        storage projects."

- ends -

Further Information:

Richard Poulden
Chairman, Sirius Exploration Plc.                        Tel: +971 556 232 672

Beaumont Cornish
Roland Cornish                                           Tel:  +44 (0)20 7628 3396

Gth media relations
Toby Hall                                                Tel: +44 (0)20 7153 8039
Christian Pickel                                         Tel: +44 (0)20 7153 8036

Contact Information

  • Sirius Exploration