Sirios Resources Inc.

TSX VENTURE : SOI


Sirios Resources Inc.

January 30, 2013 11:50 ET

SIRIOS: Drill Hole #1 Yields 0.214 g/t in Gold Over 191.4 Metres Including 0.50 g/t Over 46 Metres

CHEECHOO Project, Opinaca Area, James Bay, Quebec

MONTREAL, QUEBEC--(Marketwire - Jan. 30, 2013) - Directors of SIRIOS RESOURCES INC. (TSX VENTURE:SOI) are pleased to announce the assay results from the entire drill hole #1 on the CHEECHOO gold project. The assays show, from the beginning of the hole, a continuous section of 45.8 metres yielding 0.50 g/t in gold including a section of 24 metres at 0.70 g/t. The drill hole yielded an average gold grade of 0.214 g/t over its entire length of 191.4 metres. These results confirm the presence of large gold zones similar to those observed 266 metres further in hole #2, as announced on December 20, 2012.

Individual core sample grades reach up to 2.22 g/t Au, with sample lengths varying between 0.45 and 1.6 metres. Of all the core samples, five graded more than 1 g/t: 1.03 g/t Au over 1.1 m; 1.73 g/t Au over 1 m; 1.80 g/t Au over 1.2 m; 1.53 g/t Au over 1 m, and 2.22 g/t Au over 1 m. The gold zone has a minimal width of 45.8 metres as the drilling started directly in the mineralized zone.

Assay results from holes #1 and #2
Drill Hole #
CH-919-12-
Collar position
UTM Nad 83
Azimut Plunge From
(m)
To
(m)
Interval
(m)
Au
(g/t)
1 438708E 5830309N 234° 45° 3.6 195.0 191.4 0.21
Incl. 3.6 49.4 45.8 0.50
Incl. 18.0 42.0 24.0 0.70
*2 438764E 5830049N 320° 51° 43.5 100.0 56.5 0.59
Incl. 43.5 56.0 12.5 0.39
Incl. 60.5 100.0 39.5 0.72
*results already published

Results from hole #1 and #2 show a fine and weak dissemination of arsenopyrite and pyrrhotite over large widths in a silicified tonalite (granitic intrusive rock). Numerous small quartz veinlets occur in the tonalite. Both drill holes contain gold bearing pegmatites. These results preliminarily suggest a significant size and continuity of the mineralized system.

A total of eight diamond drill holes of NQ caliber were completed for a total of 938 metres on the Cheechoo gold project. Assay results of six other drill holes are expected in the next few weeks. Photographs of drill cores are available on Sirios' web site as well as drill hole localisation maps.

Dominique Doucet, President of Sirios stated, "These new results confirm the significant dimensions of the gold zones, and, without knowing the upcoming assay results, a second drilling campaign is now fully warranted on the property. With drill hole #3 demonstrating a similar mineralization to that of holes #1 and #2, we are confident that additional significant intersects will be obtained in the hole."

The completed drilling program on the Cheechoo project is located at less than 15 km from the future Eleonore gold mine currently under construction by a subsidiary of producer Goldcorp. As announced last summer, Sirios has signed an agreement with Golden Valley Mines Ltd. (TSX VENTURE:GZZ) for the Sharks and Cheechoo gold properties ("Cheechoo gold project"), allowing Sirios to increase its current interest in the project from 40% to 100% following the completion of certain obligations and compensation (see our June 15, 2012 press release). Sirios is operator of the project.

Assaying Quality Control

A total of 798 drill core samples were collected, sawed in half, with one half sent to a commercial laboratory for analysis and other half retained for future reference. A strict QA/QC program was followed by integrating blanks and certified reference materials to the drill core samples, all of which were prepared by IOS Services Géoscientifiques inc. of Chicoutimi, and assayed for gold by fire assay and atomic absorption finish (AA23) by the ALS Minerals laboratories in Val d'Or, Quebec.

This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person pursuant to National Instrument 43-101.

Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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