Thank you for your interest in Sienna Resources Inc.

SIE:TSX.v | SNNAF:USA | A1XCQ0:FSE

There are many exciting developments coming ahead for the Company. Commodities prices have broken out. Many junior mining stocks have also broken out on strong volume. Sienna will be very active on multiple projects in October and for the remainder of 2020.

Sienna is partnered with an NYSE listed mining company on three separate projects in Scandinavia including the past-producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems, the Kuusamo PGE-Ni-Cu-Co Project in Finland directly bordering the ‘LK’ PGE-Ni-Cu Project which is being advanced by Palladium One Mining Inc. (PDM-TSX.v), and the Platinum-Palladium-Nickel Slättberg Project in Southern Sweden.

In North America, Sienna’s projects include the Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.’s (CSE: GENM) 7.1-million-ounce palladium-equivalent Marathon Deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nevada, home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp’s (NYSE: ALB) Silver Peak deposit and Tesla Motors Inc.’s (Nasdaq: TSLA) Gigafactory.

We anticipate working on each of these projects in 2020, thus providing multiple opportunities for corporate growth and shareholder success.

Clayton Valley Nevada Lithium Update

Sienna
Resources Inc. (SIE—TSX.v) (A1XCQ0–FSE) (SNNAF—OTCBB) (January 19, 2021) (the “Company”) Sienna Resources wishes to announce that
management is evaluating Sienna’s Clayton Valley lithium project in
Nevada.  Sienna has had this property
since 2016 and now that lithium prices and Clayton Valley projects in
particular are showing strength, it makes sense to re-assess this project
now. 

Jason Gigliotti, President of
Sienna Resources stated “There has been a significant uptick in global
sentiment for lithium and lithium companies. 
There has also been a tremendous focus on Nevada lithium in the recent
months.  It started with Elon Musk of
Tesla Inc. (TSLA-Nasdaq) recently stating he wants to develop lithium in Nevada
to feed his gigafactories, and continued as Albemarle Corporation (ALB-NYSE),
who is a global leader in lithium, stated they also want to increase their
lithium production in Clayton Valley. Lithium Americas Corp (LAC-NYSE) received
a positive record of decision on its Thacker Pass Lithium Project January 15,
2021. On the junior front, Cypress Develop Corp (CYP-tsx.v), Noram Ventures
Inc. (NRM-tsx.v) and Spearmint Resources Inc (SPMT-cse) have had a significant
increase in shareholder interest as they all develop their lithium assets
adjacent to Sienna.  Sienna is currently active
on multiple projects and with a massive boom in the Electric Vehicle market
happening globally, the exponential need for battery metals such as lithium are
seeing tremendous demand.  Sienna expects
to have a very active quarter.”

The
technical contents of this release were approved by Greg Thomson, PGeo, a
qualified person as defined by National Instrument 43-101.

About Sienna Resources Inc.

Sienna Resources is focused on exploring for and
developing high-grade deposits in politically stable, environmentally
responsible and ethical mining jurisdictions. Sienna is partnered with a New
York Stock Exchange-listed mining company on three separate projects in
Scandinavia including the past-producing Bleka and Vekselmyr orogenic gold
projects in southern Norway which are both greenstone-hosted gold systems, the
Kuusamo platinum group elements (PGE) project in Finland directly bordering the
LK project being advanced by Palladium One Mining Inc., and the
platinum-palladium-nickel Slattberg project in southern Sweden. In North
America, Sienna’s projects include the Marathon North platinum-palladium
property in Northern Ontario directly bordering Generation Mining Ltd.’s
7.1-million-ounce palladium-equivalent Marathon deposit. Sienna also has the
Clayton Valley Deep basin lithium project in Clayton Valley, Nev., home to the
only lithium brine basin in production in North America, in the direct vicinity
of Albemarle Corp.’s Silver Peak deposit and Tesla Motors Inc.’s Gigafactory.
Management cautions that past results or discoveries on properties in proximity
to Sienna may not necessarily be indicative to the presence of mineralization
on the company’s properties.

If
you would like to be added to Sienna’s email list please email
[email protected] for information or join our twitter account at @SiennaResources.

Contact
Information

Tel:  1.604.646.6900

Fax:
1.604.689.1733

www.siennaresources.com

[email protected]

“Jason
Gigliotti”

President,
Director

Sienna
Resources Inc.

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 press release.

About Sienna Resources

1

Sienna has joined the Clayton Valley Lithium Advisory Committee (CVLAC)

2

Sienna is NOW UNDERWAY with a work program on the ~16,500 acre Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) Marathon palladium project

3

Sienna is NOW UNDERWAY with a work program on the Kuusamo PGE-Ni-Cu-Co project in Finland directly bordering the ‘LK’ PGE-Ni-Cu Project, which is being advanced by Palladium One Mining Inc. (PDM-TSX.v)

4

Sienna Resources has acquired the past producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems

5

Sienna is Partnered with a NYSE Listed Mining Company on the Slättberg Platinum-Palladium-Nickel Project in Sweden which contains 16 historic mines on the property

6

During its 2019 & 2020 Drill Programs, Sienna Resources Intersected Significant Platinum/Palladium on its Slättberg Platinum-Palladium-Nickel Project in Sweden

Gold prices have recently broken out to all-time highs:

GOLD Chart by TradingView

The Past Producing Bleka and Vekselmyr Orogenic Gold Projects in Norway

Figure 1.

Sienna Resources (SIE—TSX.v) (A1XCQ0 –FSE) (SNNAF—OTCBB) (the “Company”) is pleased to announced that it has entered into an option agreement with EMX Royalty Corporation (EMX—NYSE, TSX.v) to acquire the “Bleka and Vekselmyr Gold Projects” in Norway.  These projects are greenstone-hosted gold systems in southern Norway (see Figure 1). In particular, the Projects were acquired on the basis of past gold production at Bleka from historic mining activities and the documentation of outcropping gold mineralization in orogenic-style veins at Vekselmyr. Both Projects contain extensions of the structures that host gold mineralization that have not been tested by historic exploration programs.  This now gives Sienna 4 separate projects in Scandinavia.

Jason Gigliotti, President of Sienna states, “This is a tremendous opportunity for Sienna to acquire a high quality gold project in a politically stable, mining friendly jurisdiction. We have been searching for a high quality, high potential gold project and we feel these two new gold targets provide this to Sienna immediately.  This gold belt has been underexplored and we plan to commence work right away.  There is a 3 km unique vein swarm within this greenstone hosted orogenic plug with a folded nose formation.  This area is highly prospective for gold and we plan to focus on this area.  We are extremely optimistic about Sienna’s short and long term prospects when you factor this new project coupled with work expected to commence shortly on our Finland and Ontario projects at a time when we just closed an oversubscribed placement of 2 million dollars.  Sienna will be very active at a time of historically high commodity prices, including gold recently making new all-time highs.”

Overview of the Projects.
The Projects are located in an underexplored greenstone belt in southern Norway with areas of historic gold production and documented gold occurrences. The Bleka Vein was discovered in 1880 and mined intermittently until 1940, with historic production reported as 165 kilograms (i.e., ~ 5,300 troy ounces) of gold sourced from mineralized material with an average grade of 36 g/t gold. The Bleka project covers the historic mining area and swarms of similar veins that extend for at least three kilometers along strike. The nearby Vekselmyr license covers outcropping gold mineralization in similar orogenic-style veins.

[1] Gamst & Thomsen (1998) Gold Exploration in The Seljord and Hjartdal area of Telemark, Southern Norway, Norwegian Geological Survey Report 4655 (https://dirmin.no/sites/default/files/bibliotek/BV4655.pdf). Bleka Gold Mine in Seljord, Telemark, summary report 1998, Norwegian Geological Survey Report BV4654 (https://dirmin.no/sites/default/files/bibliotek/BV4654.pdf) *Historic assay values quoted above are from the NGU, from (Rapport nr 4661).SIE  has not performed sufficient work to verify the published data reported above, but SIE believes this information is considered reliable and relevant. (BV4661.PDF)

Vekselmyr Gold Project  *Historic assay values quoted above are from the NGU, from (Report No. 84-23-38, 1984). SIE has not performed sufficient work to verify the published data reported above, but SIE believes this information is considered reliable and relevant. (NGU Deposit Area 911-010)

Summary of Commercial Terms. Sienna can earn a 100% interest in the Bleka and Vekselmyr Projects in Norway, subject to 3% NSR royalty interests retained by EMX, by:

• Issuing an additional 500,000 shares of SIE to EMX within 5 days upon exchange approval,
• Spending a minimum of C$250,000 per year on exploration on the Projects over the next two years,
• Reimbursing EMX for its acquisition costs and expenses related to the Bleka and Vekselmyr Projects, and
• Issuing 1,500,000 additional shares of SIE to EMX at the end of the two-year option period.

If Sienna satisfies the earn-in conditions of the Agreement and elects to acquire the Projects, EMX will receive annual advance royalty (“AAR”) payments of US$25,000 for each property commencing on the first anniversary of the option exercise date, with each AAR payment increasing by US$5,000 per year until reaching a cap of US$75,000 per year.

Under certain conditions, 0.5% of the 3% NSR royalties retained by EMX can be repurchased by Sienna.

This agreement consists of an execution of an amendment to its option agreement with Sienna Resources Inc. (“Sienna”) (TSX Venture: SIE), originally signed in December, 2017 for the Slättberg nickel-copper-cobalt-PGE (Ni-Cu-Co-PGE) project in southern Sweden. The amendment adds EMX’s Bleka and Vekselmyr projects in southern Norway (the “Projects”) to the Option Agreement (the “Agreement”), whereby Sienna will enter a two year option period to acquire 100% interest in the Projects by satisfying work commitments and making payments of cash and equity to EMX, with EMX retaining 3% net smelter returns (“NSR”) royalty interests.

The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101. *Historic assay values quoted above are from the NGU however SIE has not performed sufficient work to verify the published data reported above, but SIE believes this information is considered reliable and relevant.

‘Kuusamo PGE-Ni-Cu-Co Project’ in Finland

The Kuusamo battery metals project (the “Project”) which is comprised of two exploration “reservation” properties located adjacent to and near EMX Royalty Corporation’s (EMX—NYSE) Kaukua platinum group elements (PGE) royalty property in Finland, which is being advanced by Palladium One Mining Inc. (PDM-TSX.v). The highly prospective Kuusamo project hosts similar styles of mineralization located within the same mafic intrusive complex and along trend of the mineralization at Kaukua. Both the Kuusamo and Kaukua properties show Ni-Cu-Co-PGE enriched sulfide horizons near the base of a mafic intrusive complex. Geologic maps of the area depicting this horizon show that it extends for nearly 30 kilometers along strike within the EMX reservation areas.

Sienna and EMX have been working together to advance the Slättberg Ni-Cu-Co-PGE project in southern Sweden, a relationship that will now extend to Finland.

Jason Gigliotti, President of Sienna Resources stated, “We are very pleased to acquire this exciting PGE-Ni-Cu-Co project in Finland. This project is directly bordering Palladium One’s project that has produced impressive results to date. We are proud to say our partner is EMX, a NYSE listed mining company, who we believe is one of the most respected companies in the market with some of the best geologists. We have a great working relationship and look forward to developing this new project as well as the Slättberg project. Sienna will be very active this summer at a time when the mining market is generating robust upward momentum.”

Ni-Cu-Co-PGE mineralization on the Kuusamo property is hosted by the Koillismaa Layered Igneous Complex (“KLIC”), a 2.4-2.5 billion year old layered mafic intrusive complex located in north-central Finland. The KLIC forms part of an east-west trending belt of similar intrusions and nickel, copper and PGE deposits that cross through Finland and into Russia.

Ni-Cu-Co-PGE-enriched magmatic sulfide mineralization occurs near the base of the KLIC and has been mapped and drilled throughout the area. The Kuusamo Project covers substantial parts of the base of the KLIC and records show that at least five target areas have been drilled historically within the Kuusamo Project over the past 50 years, with most activity taking place in 1973, followed by drilling in 1997 and again from 2000-2005. However, almost all of the historic drilling was shallow, with most holes having reached depths of only 50-75 meters. Multiple phases of airborne and ground geophysical surveys have also been run across portions of the Project, with the data having been compiled by and acquired from the Geological Survey of Finland (GTK).

EMX and Sienna will leverage this historic information and apply modern and updated geologic models to continue exploring the historic targets at deeper levels and to generate new targets on the Project.

‘Slättberg Platinum-Palladium-Nickel Project’ in Sweden

Slättberg is located 25 kilometers northwest of Falun, Sweden. Slättberg is a historic mining camp hosting platinum-palladium-nickel-copper-cobalt rich massive sulfide mineralization that occurs within a two kilometer belt of historic nickel-copper mines. The Project contains drill defined massive sulfide mineralization that extends to ~100 meters in depth, and remains open for expansion at depth and along strike. The Project is accessible year round, with nearby rail, power and 5 smelters in the Nordic region. At least 16 historic mines are located on the property, with historic operations dating back to the late 1800’s.

Mineralization at Slättberg is hosted by 1.8-1.9 Ga (Svecofennian) supracrustal rocks (metavolcanics and metasediments) located along the southwestern flank of a large gabbroic intrusive complex. The historic mines are positioned along an east-west trend of massive sulfide occurrences developed in and around a similarly oriented body of “leptite”. This is a local term used to describe rhyolitic/felsic tuffaceous rocks commonly associated with sulfide mineralization in Bergslagen. Mafic and ultramafic rocks also occur in and around the mine workings.

Sweden is at the forefront of an exploration and development boom in the mining industry. The country’s favorable business environment includes a low corporate income tax rate, a proactive geological survey, and broad public support for export-led resource extraction. Sweden has a long history of mining, and is host to some of Europe’s largest active mines.

Northvolt is planning to be the largest battery factory in Europe at roughly the same size as Tesla’s Gigafactory. Sienna President, Jason Gigliotti, states “Northvolt wants to locally source as much battery material as possible such as cobalt and nickel. There are now more than 20 mega battery factories currently being planned or constructed globally, creating a massive demand on the battery metals such as lithium, cobalt and nickel. Sienna is focused on exploring and developing projects that will meet this insatiable demand.”Jason Gigliotti, president of Sienna states, “We are very pleased to have the opportunity to have access to this project which lies within one of the top mining jurisdictions in the world with significant mining history. The infrastructure is as good as any drill target I have seen. There are paved roads within metres of planned drill targets and this prospect is accessible year round. This Platinum-Palladium-Nickel prospect houses 16 historic mines and we are optimistic about what new mining techniques could achieve. The results of the 2019 drill program were very encouraging as we intersected significant Platinum & Palladium. A follow up drill program is currently being formulated and we look forward to a very active 2020.”

Sienna conducted a two-hole drill program in October 2019 at its Slättberg project in southern Sweden. That program targeted two electromagnetic (“EM”) anomalies detected by downhole surveys performed at the end of the 2018 drill program. One was detected in the vicinity of drill hole SIE-18-006 located at the west end of the trend of historic nickel mines, and one in the vicinity of drill hole SIE-18-003, near the center of the trend of mineralization.

Drill hole SIE-19-002 was drilled to test a strong EM response to the west of drill hole SIE-18-003 in the center of the trend of mineralization. Drill hole SIE-19-002 intersected a PGE rich vein 0.55 meters wide (from 88.0 m to 88.55 m), averaging 0.22% Ni, 1.79% Cu, and 4.15 ppm (4.15 g/t) PGE (4.05 g/t Pt vs 0.095 g/t Pd). Taking recent metal prices and assuming 100 percent recovery the hole returned 4.66g/t PdEq, 9.03g/t PtEq, 4.44% CuEq, and 1.72% NiEq. The unusual enrichment of PGE in this vein is notable and represents one of the highest values ever reported from the property. PGE contents seen in Sienna’s 2019 drill holes demonstrate strong PGE potential on the project. Drill hole SIE-19-002 also intersected unmapped mine workings at a depth of 70 meters. This demonstrates that nickel mineralization was mined at a larger scale than was indicated by historic records.

Drill hole SIE-19-001 was drilled to test the western anomaly. Several zones of sulfide mineralization were intercepted in the hole over a 28 meter interval from depths of 167 to 195 meters. This represents the broadest zone of sulfide mineralization ever intersected on the property. Sulfide mineralization was present as massive sulfide veins and in breccias, and is associated with, an unusually thick swarm of mafic dikes. The best intercept from within the zone of sulfide mineralization was 5.0 meters (from 167.75 m to 172.75 m) averaging 0.57% Ni, 0.47% Cu, 0.06% Co, and 0.48 ppm PGE*, or just over 1% Ni equivalent using current metal prices.

Textures in the sulfide intervals are suggestive of tectonic remobilization of sulfides from a nearby source. Multiple thick mafic dikes were also intercepted in SIE-19-001, which are not seen in surface exposures, nor in the shallow drill holes elsewhere in this area. The abundance of sulfide, higher PGE values, and a swarm of mafic dikes suggest that Sienna is moving closer to a source area for the sulfide mineralization and associated mafic intrusions as it drills to progressively deeper levels in the western target area.

*True thickness estimated to be 55-65% of reported interval
ᵻTrue thickness estimated to be 25-40% of reported interval

‘Clayton Valley Deep Basin Lithium Brine Project’ in Nevada

Sienna Resource’s “Clayton Valley Deep Basin Lithium Brine Project” is located directly inside of and completely surrounded by Pure Energy Minerals Ltd’s property. The “Clayton Valley Deep Basin Lithium Brine Project” is located in parts of the deepest sections (refer to the map) of the only lithium brine basin with a producing operation in North America, Albemarle Corp’s (NYSE: ALB) Silver Peak Mine. Pure Energy Minerals, which owns the Clayton Valley South project, has  released an inferred resource of 247,000 tons of lithium carbonate equivalent on the Clayton Valley South project. According to the Pure Energy Minerals Limited website, “Geophysics shows that the same brine-bearing formations encountered during drilling (Pure) appear to extend to much greater depths within the basin.” Pure Energy Minerals Limited had signed a supply agreement with Tesla Motors Inc (Nasdaq: TSLA) to potentially supply lithium hydroxide from its Clayton Valley Lithium Brine Deposit. Also, recently announced on November 26, 2019, was news that Schlumberger Technology Corporation (NYSE: SLB) has begun the initial steps to advance its option to test and develop Pure Energy Mineral’s Clayton Valley Project. When a major company like Schlumberger is looking at the property that completely surrounds Sienna’s, it is clear that lithium in Nevada is gaining attention again.

Jason Gigliotti, President of Sienna Resources Inc. stated, “We are pleased to be one of the few companies that have property within the only known lithium brine basin with production in North America. Saline brines are higher density than fresh or brackish water and therefore tend to sink. Based on this, management is optimistic regarding this project as we are located in the deeper sections of this basin. Sienna also currently has one of the smaller market caps of the public companies in the Clayton Valley. The lithium space has shown signs of explosive growth recently and shows little to no signs of slowing down. Lithium is one of the few sectors of the market that appeals to both the traditional resource investor and millennials, as Tesla has primarily created a global knowledge for lithium, therefore being a true crossover element.”

Access to Deepest Part of Basin

  • An as early mover in this play, Sienna is one of only four companies (Albermarle, Pure Energy & Cruz Cobalt Corp) to have access to the deepest parts of the only lithium brine basin in production in North America.
  • Sienna’s property is completed surrounded by Pure Minerals Ltd.’s property.
  • Pure Energy Minerals Ltd. has signed a lithium supply agreement with Tesla Motors Inc. (Nasdaq: TSLA).
  • Pure Energy’s strategic partner, Schlumberger (NYSE: SLB) has begun the initial steps to advance its option to test, develop and acquire the CV Project.

‘Marathon North Platinum-Palladium Property’ in Ontario

The Marathon North Platinum-Palladium Property in Northern Ontario is directly bordering Generation Mining Ltd.’s (CSE: GENM) Marathon palladium project. This new project encompasses approximately 16,500 acres making Sienna one of the largest landholders in the Coldwell Complex other than Generation Mining. The Coldwell Complex is the largest alkaline complex in North America and hosts the Marathon platinum-palladium deposit. According to Generation Mining’s webpage, the Marathon deposit is ‘one of’ the largest undeveloped platinum group metal mineral resources in North America hosting several PGM-Copper deposits, including the 7.1 million ounce palladium-equivalent Marathon Deposit. On January 6, 2020, Generation Mining Limited released a preliminary economic assessment (PEA) giving Marathon an after-tax net present value (NPV) of $871 million.

Jason Gigliotti, President of Sienna states, “We are extremely pleased to be able to acquire a large block of land directly bordering one of the largest palladium deposits in North America. This is an excellent complement to our platinum-palladium-nickel project in Sweden. Platinum and palladium prices have been some of the best performing metal price’s recently, especially palladium, which is right near an all-time high. The timing for our new platinum-palladium project acquisition could not be more opportune. We are formulating plans to commence operations as soon as possible on our Marathon North Palladium Project and concurrently expecting to restart drilling in Sweden on our platinum-palladium-nickel project. We had positive drilling on the last phase and have used that data to zero in on the best targets. Sienna is partnered with the NYSE’s EMX Royalty Corporation (EMX: NYSE) on that project, who is one of the most respected companies in mining. We feel that there is a massive demand and appetite for platinum and palladium assets and Sienna’s goal is to be a significant player in this arena in 2020.”

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TSX.V:SIE | OTC:SNNAF | SWB:A1XCQ0

Sienna Resources Inc.

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