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CRIPPLEJACK LAKE GOLD PROPERTY

Option

The property was optioned to Trans Canada Gold (“Trans Canada”) whereby Trans Canada can earn a 100% interest in the property (NR - June 3, 2021) by issuing a total of 1,250,000 common shares of Trans Canada (225,000 shares received), $100,000 cash ($10,000 received) and $500,000 of work commitments over a four-year period. Sokoman was to retain a 1.0% NSR royalty, with Trans Canada having the right to buy down 0.5% of the royalty for $1,000,000.

In June 2022, Trans Canada informed Sokoman that it will not continue with the option into the second year and the property has been returned to Sokoman with no interest retained by Trans Canada. Sokoman will seek a new partner to advance the Crippleback Lake property.

The Crippleback Lake Gold Project situated in Central Newfoundland, covers the mineral prolific northeastern extension of the regional scale Valentine Lake fault zone and is situated in the same geological units that host high grade gold mineralization at Marathon’s Gold’s Valentine Lake gold deposit. The property is situated in the gold prolific and rapidly emerging Central Newfoundland Gold Belt, and is ideally situated near on trend with Sokoman Minerals flagship Moosehead High-Grade Gold project and discovery which is now in the midst of Phase 6 of a 50,000- metre (Phase 6) drill program.

The Crippleback Gold Property is exquisitely positioned in one of Canada’s hottest gold exploration camps and between the Valentine Gold Deposit and Newfound Golds Queensway Project/Keats Zone. The Crippleback Gold Project shares many of the same attributes of the advanced stage Valentine Lake Project (Marathon Gold) including the crucial structural corridor (Rogerson Lake Conglomerate), as well as the presence of the Crippleback Lake Quartz Monzonite, the on-strike equivalent of the Valentine Lake Intrusive Suite, host to Marathon’s Valentine Lake gold deposits. Sokoman shareholders will receive the benefit of an experienced Trans Canada Gold Exploration team advancing the Gold Project.

The Crippleback Lake Gold property is located in proximity to the Trans-Canada highway in north-central Newfoundland, is easily accessible by a network of secondary logging roads and is only a short drive from assaying and diamond drilling services in Springdale, Newfoundland.

Highlights