SIRIOS Resources Inc.
TSX VENTURE : SOI

SIRIOS Resources Inc.

November 06, 2006 13:04 ET

Sirios Resources Inc.: Increase of the Private Placement and Announcement of a New One

MONTREAL, QUEBEC--(CCNMatthews - Nov. 6, 2006) - SIRIOS RESOURCES INC. (TSX VENTURE:SOI) increases its private placement announced on October 26, 2006 up to a maximum of 1,000 Flow-Through units of the Company for gross proceeds of a maximum of $C 1,000,000. SIRIOS also reports its intent to undertake a second non-brokered private placement with accredited investors for gross proceeds to the Company of a maximum of $C 252,500.

The first non-brokered placement is being done with accredited investors and directors, it consists of a maximum of 1,000 Flow-Through units of the Company for gross proceeds to the Company of a maximum of $C 1,000,000. The unit price is $C1,000 and each unit will consist of 3,000 Common Flow-Through Shares at $0.30 per share, 400 Common Shares at $0.25 per share and 3,400 warrants. One warrant will entitle its holder thereof to subscribe for one Common Share at $0.32 per share for a period of 12 months after the closing date and at $0.35 during the next 12 months.

The second placement consists of a maximum of 250 Flow-Through units of the Company for gross proceeds to the Company of a maximum of $C 252,500. The unit price is $C 1,010 and each unit will consist of 2,700 Common Flow-Through Shares at $0.30 per share, 800 Common Shares at $0.25 per share and 3,500 warrants. One warrant will entitle its holder thereof to subscribe for one Common Share at $0.32 per share for a period of 12 months after the closing date and at $0.35 during the next 12 months.

The proceeds of these placements shall be used by SIRIOS for exploration activities on its properties and for general purposes.

These private placements are subject to regulatory approval and filings.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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