Sterling Metals Announces Upsize to Private Placement of Units

Sterling Metals Announces Upsize to Private Placement of Units

Sterling Metals Corp. (TSXV: SAG) (OTCQB: SAGGF) (the "Company") is pleased to announce that further to its press release of April 18, 2022, the Company has increased the size of its non-brokered private placement to up to 15,000,000 units (each, a "Unit") at a price of $0.20 per Unit for aggregate gross proceeds of up to $3,000,000 (the "Offering"). Each Unit shall be comprised of one common share (each, a "Common Share") in the capital of the Company and one Common Share purchase warrant (each, a "Warrant") of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.40 per Common Share for a period of two (2) years from the closing of the Offering.

Mathew Wilson, CEO of the Company, commented: "We are thrilled with the reaction to our investment offering. This upsize reflects the broad interest while maintaining an awareness of dilution of future share appreciation. This financing will position the Company for an aggressive 2022 exploration campaign as the Company follows up on its Heimdall Zone discovery."

All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The net proceeds from the sale of the Units will be used for general working capital purposes. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information, please contact:

Sterling Metals Corp.
Mathew Wilson, President & CEO
Tel: (416) 643-7630
Email: info@sterlingmetals.ca
Website: www.sterlingmetals.ca

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.

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121228

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Sterling Metals

Sterling Metals

Overview

Mining is one of the biggest industries in Canada, generating C$97 billion in 2018 — or 5 percent of the country’s GDP. The country is one of the world’s largest producers of uranium and gold but at one time, over 100 years ago, it was a top silver producer as well. In the early 1900s the country boasted two of the greatest silver discoveries in the world. Keno Hill, in the Yukon, and the Cobalt District in Ontario, contributed over 15 percent of the world’s silver. Since then, there has not been a discovery that comes close to equaling the significance of these two deposits and Canada no longer finds itself in the top 10 of silver producing countries worldwide.

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Sterling Metals Announces Private Placement of Units

Sterling Metals Announces Private Placement of Units

Sterling Metals Corp. (TSXV: SAG) (the "Company") is pleased to announce a non-brokered private placement of up to 12,500,000 units (each, a "Unit") at a price of $0.20 per Unit for aggregate gross proceeds of up to $2,500,000 (the "Offering"). Each Unit shall be comprised of one common share (each, a "Common Share") in the capital of the Company and one Common Share purchase warrant (each, a "Warrant") of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.40 per Common Share for a period of two (2) years from the closing of the Offering.

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Sterling Metals Drills Newly Discovered Heimdall Zone at Sail Pond Silver and Base Metal Project - Multiple Intercepts of Over 1000 Gram-Meter Silver Equivalent Along 400m Strike Length

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Sterling Metals Corp. (TSXV:SAG) ("Sterling Metals" or the "Company") is pleased to report results from its phase 2 drilling on the south zone of the Sail Pond Silver and Base Metal Project in the Great Northern Peninsula of Newfoundland. The company will be hosting a zoom webinar at 10am EST on Thursday February 24, 2022, to discuss these findings in more detail. Registration for the event can be found at: https:us02web.zoom.uswebinarregisterWN_VlXZp4TGSZmyrSkg_eIM2g

Significant drill results are listed below:

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Sterling Metals Discovers High Grade Polymetallic Mineralization, Expands Drill Program and Earns 100% Ownership of the Sail Pond Silver and Base Metal Project

Sterling Metals Corp. (TSXV:SAG) ("Sterling Metals" or the "Company") is pleased to report the first assays from its maiden drilling program on the Silver-Copper-Lead-Zinc Sail Pond Project ("Sail Pond" or the "Project") located on the Great Northern Peninsula of Newfoundland, Canada. The company completed 16 drill holes in its Phase 1 program and from the data gathered launched a Phase 2 program focused on the South Zone of the Project. The first and only series of assay results the company has received to date from its Phase 2 program pertain to hole SP-21-018 and include the following highlights

  • 73.84 g/t AqEq over 11.1 m, including 1,096.59 g/t AgEq over 0.25 m
  • 97.56 g/t AgEq over 10.05 m, including 1,854.02 g/t AgEq over 0.4 m
  • 91.18 g/t AgEq over 14.6 m, including 895.86 g/t AgEq over 0.25 m.

Further results from drilling are presented in Table 1, including results for Phase 1 hole SP-21-008 that intercepted up to 1.05 m of 649.77g/t AgEq, including 0.55 m of 1039.63g/t AgEq and from hole SP21-004 that intercepted 7 m of 84.57g/t AgEq. Downhole meterages for all intervals noted above are included in Table 1. Images of high grade polymetallic drillcore from the Project appear in Figure 1 and drillhole locations are presented in Figures 2 & 3.

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Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ("Sterling Metals" or the "Company") is very pleased to report the commencement of a maiden drilling program on the Silver-Copper-Lead-Zinc Sail Pond project ("Sail Pond" or the "Project") located on the Great Northern Peninsula of Newfoundland, Canada. The drilling program will comprise of an initial 7,500 metres with one drill and is expected to take approximately 4 months to complete. Initial drill holes will target the South Zone, where previous exploration campaigns have identified extremely high-grade mineralization with grab sample results up to 4,526.1 gt Ag, 0.9 gt Au, 14.9 % Cu, 7.5 % Pb, 5.0 % Sb, and 9.6 % Zn (see Sterling Metals press release dated January 6, 2021). In addition, the Company is pleased to announce the results and interpretation of a gravity survey completed over the South Zone, which will assist with drill targeting

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Sterling Metals Commences Trading on the OTCQB Venture Market

Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) has received a receipt of approval from OTC Markets Group to trade on the OTCQB Venture Market, effective May 24, 2021, under the symbol SAGGF. The OTCQB quotation will increase the accessibility of the company to United States-based retail and institutional investors and aligns well with the company's focus on its mineral properties within North America. The company profile can be viewed at the OTC Market website

Mathew Wilson, CEO of Sterling Metals commented, "We are pleased to meet the criteria to graduate from the Pink market to the OTCQB. There is a strong level of US domiciled interest in the silver exploration investment marketplace and the OTCQB provides an excellent opportunity for us to reach a broad new range of investors. This is especially important as we count down the weeks to the commencement of our maiden drill program."

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