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TSX.V:SIE | OTC:SNNAF | SWB:A1XCQ0
Thank you for your interest in Sienna Resources Inc. (TSX.V:SIE, OTC:SNNAF, SWB:A1XCQ0)

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 for the remainder of 2021.

Sienna is partnered with an NYSE listed mining company on two separate projects in Scandinavia including the past-producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems, and the 189,181-acre 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).

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 2021, thus providing multiple opportunities for corporate growth and shareholder success.

Recent News

Sienna wird das bohrbereite „Lithiumprojekt Blue Clay “ im Clayton Valley, Nevada, erwerben

Vancouver, BC, 1. Oktober 2021, Sienna Resources Inc. („Sienna“ oder das „Unternehmen“) (SIE—TSX.v, SNNAF—USA, A1XCQ0—Deutschland) gibt den Abschluss einer Optionsvereinbarung mit einem unabhängigen Anbieter zum Erwerb des Lithiumprojekts Blue Clay im Clayton Valley, Nevada, bekannt. Dieses Projekt umfasst 94 zusammenhängende lithiumhöffige Claims mit einer Gesamtfläche von ca. 1950 Acres. Das Management plant nun, so bald wie möglich zu bohren, was voraussichtlich in diesem Quartal erfolgen wird.

Gemäß den Bedingungen der Optionsvereinbarung hat der Optionsnehmer das ausschließliche Recht und die Option, vom Eigentümer durch die Ausgabe von insgesamt vier Millionen Stammaktien (vorbehaltlich einer viermonatigen Haltedauer) und durch Barzahlungen in Höhe von insgesamt 60.000 Dollar in bar eine 100-prozentige Beteiligung an der Liegenschaft zu erwerben. Für detailliertere Angaben siehe unten:

  • Zahlung von 30.000 Dollar an den Optionsgeber und Ausgabe von 2.000.000 Stammaktien an den Optionsgeber innerhalb von fünf (5) Tagen nach Genehmigung durch die TSX Venture Exchange („Börse“);
  • Zahlung von 30.000 Dollar an den Optionsgeber und Ausgabe von 1.000.000 Stammaktien an den Optionsgeber vor dem Datum, das sechs (6) Monate nach dem Datum der Genehmigung durch die Börse liegt; und
  • Ausgabe von 1.000.000 Stammaktien an den Optionsgeber vor dem Datum, das zwölf (12) Monate nach dem Datum der Genehmigung durch die Börse liegt.
  1. Der Optionsnehmer stimmt auch zu, alle jährlichen Steuern und Gebühren zur Aufrechterhaltung der in Anhang „A“ aufgeführten Claims (die „Claims“) zu zahlen und dem Eigentümer einen Zahlungsnachweis vorzulegen.
  2. Der Optionsnehmer stimmt auch der Zahlung aller während des Due Diligence-Verfahrens fälligen Wartungsgebühren zu, und falls keine Einigung erzielt wird, ist der Eigentümer bereit, dem Optionsnehmer den Restbetrag aller Gebühren zu erstatten, die zur Aufrechterhaltung der in Anhang „A“ aufgeführten Claims (die Claims) zu zahlen sind.
  3. Bei Erfüllung der oben in den Absätzen 3 und 4 genannten Verpflichtungen erwirbt der Optionsnehmer 100 % der Rechte, Eigentumsrechte und Beteiligung an und für die Liegenschaft, die nur Folgendem unterliegt:
  • einer 1,5%igen Net Smelter Return („NSR”, Netto-Verhüttungsgebühr) (wie genauer in der beigefügten „Anlage B” beschrieben) an den Eigentümer, sofern der Optionsnehmer das Recht hat, jederzeit 0,75 % der NSR für 500.000 Dollar bis Produktionsbeginn zu kaufen; und
  • Vorlage einer schriftlichen Mitteilung an den Eigentümer über seine Absicht, seine Option gemäß der Vereinbarung auszuüben.

Jason Gigliotti, President von Sienna Resources, sagt: „Dies ist eine großartige Gelegenheit für Sienna, ein bohrbereites Lithiumprojekt im Zentrum der ersten Lithiumadresse in Nordamerika, dem Clayton Valley in Nevada, zu erwerben. Die Lithiumpreise erreichten diese Woche ein Mehrjahreshoch, und da jeder große Autokonzern plant, seine Elektrofahrzeugflotten massiv auszubauen, ist die Nachfrage nach Lithium in absehbarer Zukunft sehr stark. Siennas Management glaubt seit vielen Jahren an Batteriemetalle, insbesondere Lithium, und jetzt haben wir mehrere sehr höffige Projekte im Clayton Valley. Wir sind sehr optimistisch hinsichtlich dieses neuen Projekts und freuen uns darauf, dort vor Ort zu sein und in Kürze mit den Bohrungen zu beginnen.“

Über Sienna Resources Inc.

Das Hauptaugenmerk von Sienna Resources ist auf die Exploration und die Erschließung hochgradiger Lagerstätten in politisch stabilen, ökologisch verantwortungsvollen und ethischen Bergbaugebieten gerichtet. Sienna ist eine Partnerschaft mit einem an der New York Stock Exchange notierten Bergbauunternehmen hinsichtlich zweier separater Projekte in Skandinavien eingegangen, einschließlich der vormals produzierenden orogenen Goldprojekte Bleka und Vekselmyr im Süden von Norwegen, bei denen es sich um in Grünstein enthaltene Goldsysteme handelt und des Platingruppenelement-Projekts Kuusamo in Finnland, das direkt an das Projekt LK angrenzt und von Palladium One Mining Inc. weiterentwickelt wird. Zu den Projekten von Sienna in Nordamerika gehört das Platin-Palladium-Konzessionsgebiet Marathon North, das direkt an die 7,1 Millionen – Palladiumäquivalente Unzen schwere Lagerstätte Marathon von Generation Mining Ltd. grenzt. Sienna verfügt ebenfalls über ein Lithiumprojekt im Clayton Valley im US-Bundesstaat Nevada, Standort des einzigen in Produktion befindlichen Lithiumsolebeckens in Nordamerika, unweit der von Albemarle Corp. betriebenen Lagerstätte Silver Peak und der Gigafactory von Tesla Motors Inc. Das Management weist ausdrücklich darauf hin, dass ehemalige Ergebnisse oder Entdeckungen in Konzessionsgebieten in der Nähe von Siennas Projekten nicht unbedingt Rückschlüsse auf das Vorkommen einer Mineralisierung in den Konzessionsgebieten des Unternehmens zulassen.

Der technische Inhalt dieser Pressemitteilung wurde von Greg Thomson, PGeo, dem beratenden Geologen und qualifizierte Person gemäß den Definitionen des National Instrument 43-101 ist, geprüft und genehmigt.

Diese Vereinbarung unterliegt der Genehmigung durch die TSX Venture Exchange.

Wenn Sie in den Nachrichtenverteiler von Sienna aufgenommen werden möchten senden Sie bitte eine E-Mail an [email protected] für Informationen oder folgen uns auf Twitter unter @SiennaResources an.

Kontaktdaten

Tel:  1.604.646.6900
Fax: 1.604.689.1733

www.siennaresources.com
[email protected]

„Jason Gigliotti“
President, Director, Sienna Resources Inc.

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Company Highlights

1

Sienna Resources has significantly increased the acreage by over 200% to now have 189,181 acres, with a work program NOW UNDERWAY on its 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)

2

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

3

Sienna has confirmed that the basal contact is 23 km long and is the primary target for palladium mineralization at the Kuusamo project, showing similar characteristics and geological orientation as the bordering project of Palladium One Mining (PDM-TSX.V)

4

In North America, Sienna 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

5

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

6

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

7

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

Platinum prices have recently broken out to multi-year highs:


Norway

The Past Producing Bleka and Vekselmyr Orogenic Gold Projects in Norway

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.

Finland

‘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.

Nevada, USA

‘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.

Ontario, Canada

‘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.”

Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties. Mr. Greg Thomson, P.Geo., a director of Spearmint and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this website.

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Pacific Centre
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Contact Details

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P. (604) 646-6900

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