Sokoman Minerals Corp. Expands Land Position at Crippleback Lake

Rhea-AI Summary

Sokoman Minerals Corp. (OTCQB: SICNF) has expanded its land position at Crippleback Lake in Central Newfoundland through two property purchase agreements. The company acquired 105 mineral claims from United Gold Inc. for $20,000 cash and 500,000 common shares, and 74 mineral claims from David Evans for $2,500 cash and 100,000 common shares, subject to a 1% NSR.

The Evans agreement includes an option for Sokoman to purchase half of the NSR for $500,000, and a $15,000 payment if the property is optioned to a third party. With these acquisitions, Sokoman now controls over 13,000 hectares at Crippleback Lake. The company plans immediate exploration activities including IP geophysical surveys, soil and rock sampling, and geological mapping.

Positive

• Strategic expansion of land position to over 13,000 hectares in potential copper-gold area
• Relatively low-cost acquisitions with minimal upfront cash payments
• Immediate exploration plans to develop the properties
• Option to reduce future NSR exposure on Evans Property

Negative

• Share dilution from issuance of 600,000 new common shares
• Additional cash obligations if Evans Property is optioned to third party
• 1% NSR royalty burden on Evans Property

St. John's, Newfoundland--(Newsfile Corp. - September 2, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman" or the "Company") further to its August 14, 2025 news release, Sokoman is pleased to announce that it has signed 2 property purchase agreements, expanding its land position at Crippleback Lake in Central Newfoundland.

The Company has agreed to purchase a 100% undivided interest in 105 mineral claims located in the Crippleback Lake Area from United Gold Inc. (the United Gold Claims). In consideration of the United Gold Claims Sokoman will make a one-time cash payment of $20,000 and issue 500,000 common shares of the Company to United Gold Inc.

The Company has also entered into an agreement with David Evans to acquire a 100% interest, subject to a 1% NSR Royalty in favour of David Evans (the "NSR"), in 74 mineral claims located in the Crippleback Lake Area (the "Evans Property") for consideration of a one-time cash payment of $2,500 and 100,000 common shares of the Company to David Evans. The Company may purchase one-half of the NSR for $500,000. In the event that the Company options the Evans Property to a third party, Sokoman will make a $15,000 cash payment to David Evans.

Tim Froude, CEO, says "We are pleased to have locked in these two key pieces of ground in what we feel is an emerging new copper-gold play in central Newfoundland. Combined with our existing claims, we now control over 13,000 hectares at Crippleback Lake. We will immediately get boots on the ground with IP geophysical surveys, soil and rock sampling and geological mapping planned to start in the coming days."

The United Gold Agreement and Evans Agreement are both subject to TSX venture Exchange approval.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company and one of the largest landholders in the province of Newfoundland and Labrador, Canada's emerging gold district. The Company's primary focus is its portfolio of gold projects; the 100%-owned flagship, advanced-stage Moosehead, Crippleback Lake, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company entered a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland.

In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the USA, and exactly the right partner to have to advance the lithium project. For full details of the agreement, please refer to the Company's press release dated October 11, 2023.

Projects optioned with optionee fully vested are:

• East Alder Project optioned to Canterra Minerals Inc. (SIC retains shares of CTM plus 1% NSR)
• Startrek Project optioned to Thunder Gold (SIC retains shares of TGOL plus 1% NSR)

The Company would like to thank the Government of Newfoundland and Labrador for the financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program during the past few years.

For more information, please contact:

Timothy Froude, P.Geo., President & CEO 
T: 709-765-1726 
E: tim@sokomanmineralscorp.com

Cathy Hume, VP Corporate Development, Director 
T: 416-868-1079 x 251
E: cathy@chfir.com

Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMineralsCorp

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264750

FAQ

What acquisitions did Sokoman Minerals (SICNF) announce at Crippleback Lake?

Sokoman acquired 105 mineral claims from United Gold Inc. for $20,000 and 500,000 shares, and 74 mineral claims from David Evans for $2,500 and 100,000 shares.

How many hectares does Sokoman now control at Crippleback Lake?

Following these acquisitions, Sokoman now controls over 13,000 hectares at Crippleback Lake in Central Newfoundland.

What are Sokoman's immediate plans for the Crippleback Lake properties?

Sokoman plans to immediately begin IP geophysical surveys, soil and rock sampling, and geological mapping on the properties.

What are the terms of the NSR royalty in the Evans Property acquisition?

The Evans Property has a 1% NSR royalty in favor of David Evans, with Sokoman having the option to purchase half of the NSR for $500,000.

How much will Sokoman pay if it options the Evans Property to a third party?

If Sokoman options the Evans Property to a third party, it must make a $15,000 cash payment to David Evans.