October 13, 2023, Sienna Resources Inc. (“Sienna” or the “Company”) (SIE—TSX.v, SNNAF—USA, A1XCQ0–Germany) is pleased to announce that it has contracted Alloy Drilling LLC of Elko, Nevada for the first phase of drilling expected to commence in October. Recently, Sienna received approval from the BLM to drill up to 5 initial locations on its recently acquired “Elko Lithium Project” in Elko County, Nevada. This project consists of approximately 1,200 contiguous acres directly bordering Surge Battery Metals’ (NILI) “Nevada North Lithium Project” in Elko County, Nevada. According to the news dated September 12, 2023 from Surge, “The first certified analytical results for the 2023 summer drilling program at Surge Battery Metals Inc.’s Nevada North lithium project (NNLP) have returned multiple zones of high values ranging from 1,000 parts per million to 8,070 ppm lithium, the highest grades for exploration to date on the Nevada North Lithium Project. Sienna management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative of the presence of mineralization on the company’s properties.
Jason Gigliotti, President of Sienna states, “We are very pleased to be able to put this drill program together. Alloy has a proven track record of drilling success in the area and we are looking forward to working with them on this first phase of drilling. This drill program could be a game changer for Sienna when you consider the market reaction to our neighbour, Surge Battery Metals whose shares have risen from a low of $0.065 to a recent high of $1.55 based on their drill results right beside Sienna’s property. Not only do we have this new lithium project, but Sienna is one of the largest landholders in Clayton Valley, Nevada through its other property interests. Sienna has more than enough cash on hand for the anticipated current exploration plans and we expect to be very active on multiple fronts for the remainder of 2023. Management is extremely optimistic about the future and looks forward to what will happen with this planned drill program. The next few weeks and months will be a very exciting time for Sienna management and shareholders.”
Elko County Map
Recently, the Bureau of Land Management (BLM) has also given Sienna approval for up to 4 additional holes to be completed on the 100% owned Blue Clay Lithium Project in Clayton Valley, Nevada. On March 25, 2022, Sienna revealed a new lithium discovery on the Blue Clay Lithium Project. Lithium values as high as 1230 ppm Li were encountered. The Blue Clay Lithium Project consists of 150 contiguous claims totaling approximately 2,950 acres prospective for lithium right in the heart of the Clayton Valley in Nevada, which is currently home to the only producing lithium region in North America.
The Company has entered into a Media Services Agreement (the “Agreement) with Life Water Media of Sugar Land, Texas, dated October 13, 2023, whereby the services to be provided by Life Water Media will include digital media, marketing strategies, advertising, and awareness campaigns for a fee of US$100,000 for a term of three months upon TSX Venture Exchange approval. The fee shall be paid upfront with cash on hand. The Agreement may be renewed or extended by the Company and Life Water Media at the end of the initial term.
Life Water Media and Sienna are not related parties and operate at arm’s length. Neither Life Water Media nor its principals have any interest in the Company’s securities, directly or indirectly, or any right or intent to acquire such an interest. Life Water’s contact is Enrique David Pena. The Company will provide Life Water with publicly available source information for their disclosure and the Company will be involved in reviewing the materials for accuracy prior to their dissemination.
About Sienna Resources Inc.
Sienna has recently acquired the “Elko Lithium Project” in Elko County, Nevada. This project consists of approximately 1200 contiguous acres directly bordering Surge Battery Metals’ (NILI) “Nevada North Lithium Project” in Elko County, Nevada. Sienna is also one of the larger landholders in Clayton Valley Nevada. Sienna’s Clayton Valley projects include the Blue Clay Lithium Project, the Silver Peak South Project, and the Clayton Valley Deep Basin Lithium Project. Clayton Valley is home to the only lithium production in North America, being Albemarle Corp’s (NYSE: ALB) Silver Peak deposit. This project is also near Tesla Motors Inc.’s (Nasdaq: TSLA) Gigafactory in Nevada. On March 18, 2021, Schlumberger New Energy Venture (NYSE: SLB) announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy in a strategic partnership with Pure Energy (TSX.v: PE). The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. Results from this pilot plant are expected in 2023 and could have a significant impact on the brine prospects within Clayton Valley Nevada as Sienna is located in the deepest section of this brine deposit. One other project Sienna has is the ‘Marathon North Platinum-Palladium Property’ in Northern Ontario directly bordering Generation Mining (CSE: GENM) Marathon Deposit.
Mr. Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.
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Sienna Resources Inc.
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections – statements regarding future plans, expectations and developments. Words such as “expects”, “intends”, “plans”, “may”, “could”, “potential”, “should”, “anticipates”, “likely”, “believes” and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include uncertainty of exploration and development plans regarding the property; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company’s ability to attract and retain qualified personnel and management; potential labour unrest; reclamation and closure requirements for mineral properties and the availability of capital to fund the Company’s projects, as well as other risks and uncertainties identified under the heading “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
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