Sterling Metals Provides Update on its Acquisition of the Copper Road Project in Ontario

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TORONTO, ON / ACCESSWIRE / February 27, 2024 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ("Sterling" or the "Company") is pleased to announce that the common shares (each, a "Common Share") of the Company will resume trading on the TSX Venture Exchange (the "TSXV") effective market open on or about March 1, 2024. The Common Shares were halted at the request of the TSXV upon the Company announcing the proposed acquisition of the Copper Road Project (the "Project"), pursuant to which Sterling entered into a definitive share purchase agreement (the "Agreement"), with Copper Road Resources Inc. (the "Vendor") and its wholly-owned subsidiary, 100797918 Ontario Inc. (the "Subsidiary") to acquire 100% interest in the Project (the "Transaction") (see press release dated February 14, 2024).

Copper Road - Phase 1 Exploration Plans

The Project covers a large area (approximately 25,000 hectares) and has both an extensive history of mining and exploration as well as numerous copper showings at surface (Figure 1). Since 2017, an aggregate of approximately 4250m of drilling has been completed by the Vendor. Drilling was focused primarily on extending known mineral occurrences at the past producing Tribag Mine and then at the JR Zone, discovered by Phelps Dodge in the 1960s. Results were set out in press releases by the Vendor on October 13, 2022, and November 30, 2023.

The recent drilling results have confirmed the presence of breccia and porphyry-hosted copper and molybdenum mineralization, underlining the Project's significant potential. Given the extensive history of exploration and mining, as well as numerous surface copper showings, a property wide systematic and optimized approach is crucial for advancing the understanding and refining exploration targets for any successful future drilling campaigns. As such, Sterling's Phase 1 exploration plans will focus on the work program below, with further details to be released upon completion of the Transaction.

• Reconnaissance work to confirm available historical drill core and to visit key outcrop sites to review geology in areas of exploration interest
• Thorough data compilation and validation of drill holes and other key exploration data items
• Digitizing all important exploration data only in paper copy
• Completion of high resolution airborne magnetic survey to refine regional geology map and Lidar for structural geology mapping and interpretation
• Focused outcrop sampling and trenching to advance and build up confidence in targeting for future drilling
• Construction of logging and sampling facilities in the project area

Foto: Accesswire

Figure 1: Mineralization at the Copper Road Project^*[1],[2]