Sirios Resources Inc.

TSX VENTURE : SOI


Sirios Resources Inc.

February 12, 2013 09:45 ET

Sirios Resources Inc.: Drill Hole #3 Yields 0.65 g/t in Gold Over 128.6 Metres Including 1.09 g/t Over 56 Metres Cheechoo Project, Opinaca Area, James Bay, Quebec

MONTREAL, QUEBEC--(Marketwire - Feb. 12, 2013) - Directors of SIRIOS RESOURCES INC. (TSX VENTURE:SOI) are greatly pleased to announce the complete assay results of drill holes #3 and #4 from the CHEECHOO gold project. Over the entire length of hole #3, assays yielded a continuous section of 0.65 g/t in gold over 128.6 metres (weighted average) including a section of 1.09 g/t over 56 metres. Drill hole #3 starts and ends in the gold zone. The results confirm the presence of large gold sections similar to those found in holes #1 and #2 which are located at more than 285 metres and 377 metres respectively from hole #3. Drill holes #1 and #3 are entirely found within the gold zone, which is open in all directions and can only be fully delineated with additional drilling.

In drill hole #3, of the 129 core samples which all vary between 0.6 and 1.2 metres, three yielded high gold grades: 10.7 g/t over 0.6 m; 10.8 g/t over 1 m and 25.9 g/t over 1 m. There are another eight samples that yielded between 1.10 g/t and 3.92 g/t Au over 1 m each.

Assay results from drill holes #1, #2, #3 and #4
Drill
Hole #
CH-919-12-
Collar position
UTM Nad 83
Azimut
(Degrees)
Plunge
(degrees)
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
03 438434E 5830232N 270 45 3.4 132.0
(EOH)
128.6 0.65
Incl. 3.4 4.0 0.6 10.70
Incl. 76.0 132.0 56.0 1.09
Incl. 89.0 90.0 1.0 10.85
Incl. 119.0 120.0 1.0 25.90
*01 438708E 5830309N 234 45 3.6 195.0
(EOH)
191.4 0.21
Incl. 3.6 49.4 45.8 0.50
Incl. 18.0 42.0 24.0 0.70
*02 438764E 5830049N 320 45 43.5 100.0
(EOH)
56.5 0.59
Incl. 43.5 56.0 12.5 0.39
Incl. 60.5 100.0 39.5 0.72
04 437675E 5830780N 270 45 2.8 102.0
(EOH)
- An.
58.0 64.0 6.0 0.17
*Already published (EOH): End of hole An.: Numerous anomalous values

Drill holes #1, #2 and #3 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. Drill holes #1 and #2 contain gold-bearing pegmatites, which are less common in hole #3. Hole #4 is located at more than 1 km from the delineated gold zone of the first three holes. Several anomalous gold grades varying between 0.02 g/t and 0.42 g/t occur in the hole.

Dominique Doucet, President of Sirios, stated, "The results from the first three drill holes confirm that we have a significant gold discovery. Moreover, there is still no indication that we have found the core of the gold system. The presence of high gold grades in a low grade mass is also encouraging."

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 four other drill holes are expected in the next few weeks. The last three drill holes (#6 to #8) were drilled in a different geological environment located to the north of the first five holes. Photographs of drill cores are available on Sirios' web site as well as drill hole localisation maps.

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-V: 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 792 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. Assays on the highest grades were duplicated in the laboratory. Samples grading more than 10 g/t were re-assayed by fire assay with gravimetric finish.

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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