Sterling Metals Resumes Drilling at Sail Pond Project, Testing for Additional High-Grade Silver and Copper at Heimdall North Discovery Target

TORONTO, ON / ACCESSWIRE / June 6, 2023 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ("Sterling Metals" or the "Company") is pleased to announce the commencement of its 2023 drilling program at the Sail Pond Project located in the Great Northern Peninsula of Newfoundland. The drill program will test for potential large accumulations of high-grade silver and copper mineralization in six new anomalies identified in the recently completed Orion 3D geophysical survey (the "Orion survey"), including a potential source to the Heimdall North Zone discovered in 2022.

"Since the discovery at Heimdall North our team has looked forward to getting back to the area to find the source of the incredible high-grade mineralization we intersected. Completing the Orion survey and highlighting a new geophysical target just below our discovery hole SP-22-064 only fueled our desire to return to the Heimdall North Zone," Stated Jeremy Niemi, Senior Vice President, Exploration and Evaluation. "The mineralization in hole 64 was essentially solid vein of high-grade copper and silver mineralization interpreted to come from a nearby larger source. This is an amazing target to kick off our 2023 campaign and we can't wait to see the core."

"The plan executed by the Sterling team, which prompted investors to back our $6.5M financing in April 2023, remains on track," commented CEO Mathew Wilson. "Despite the challenging macro venture environment, we are excited to see the results of our hard work as we embark on the next phase of drilling at Sail Pond."

2023 Sail Pond Drilling Campaign

The recently completed Orion 3D geophysical survey (see press release dated May 8, 2023) encompassed both the Heimdall and Heimdall North Zones with the goal of identifying potential sources of surface mineralization and larger accumulations of high-grade silver and copper mineralization. The survey included a chargeability component, used to identify sulphide mineralization, seeing to a depth of 500 metres below surface. Along with the chargeability, the Orion survey also included a magneto telluric ("MT") survey which mapped the resistivity down to 2 kilometres depth. The MT data shows resistivity of the rocks and has been used to map the host dolostone units and important structures which the Sail Pond silver-copper mineralization follows. The 2023 targets for drilling include a combination of strong chargeability (increased sulphide potential) along trend from existing surface and drilling intercepts and within dolostone.