Sirios Resources Inc.
TSX VENTURE : SOI

Sirios Resources Inc.

October 17, 2012 09:00 ET

Sirios Resources Inc.: Diamond Drilling Starts on Cheechoo Gold Project

MONTREAL, QUEBEC--(Marketwire - Oct. 17, 2012) - SIRIOS RESOURCES INC. ("Sirios") (TSX VENTURE:SOI) will start its diamond drilling campaign this week on its Cheechoo gold property located in James Bay, in Quebec, in close proximity to the future Eleonore gold mine.

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). The project is adjacent to the east of the property on which the Eleonore gold mine is being built by Les Mines Opinaca Ltd., a subsidiary of Goldcorp Inc. This future gold mine has an expected annual production of around 600,000 ounces of gold, over a period of around 15 years beginning in 2014. The drilling campaign, undertaken by Sirios, will focus on the area located at less than 15 km from the future mine.

Dominique Doucet, President of Sirios stated: "The drilling campaign that will begin on Cheechoo in the coming days is, according to me and based on our experience of the area, the campaign with the highest probability of success of all the drilling programs undertaken in that area by all the explorers since the initial discovery of Eleonore by Virginia in 2004-2005."

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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