News Releases

Sama Resources Announces Filing of NI 43-101 Technical Report on Samapleu Project

June 2, 2020

Sama Resources Inc. (TSX-V: SME  OTC PINK SHEETS: SAMMF) announced that the Company has filed on SEDAR an  independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101) supporting the results of a Preliminary Economic Assessment (“PEA”) for the development of its Samapleu Nickel-Copper project located in Ivory Coast, West Africa previously reported in the Company’s news release dated May 27, 2020.  There are no material differences in the Report from those results in the Company’s press release dated May 27, 2020. The effective date of the technical report is May 22, 2019. The effective date of the Mineral Resources is October 26, 2018.

Highlights

  • Average annual production of 3,900 tonnes(“t”) of carbonyl nickel powder, 8,400 t of carbonyl iron powder and 14,100 t of copper concentrate over a 20-year mine life
  • Capital costs of $282 million (“M’) including contingency of $37 M
  • Operational costs of $23.96/t milled
  • Pre-tax Net Present Value (“NPV”) at 8% discount rate of $615M and internal rate of return (“IRR”) of 32.5%
  • After-tax NPV at 8% discount rate of $391M and after-tax IRR of 27.2%

The full technical report dated June 1, 2020 and entitled “NI 43-101 – Preliminary Economic Assessment – Samapleu Project” can be found on the Company’s website at

http://samaresources.com/i/pdf/samapleu_technical-report_2020-05-27.pdf

and on SEDAR under the Company’s issuer profile at www.sedar.com.   The PEA was prepared by DRA Global’s office, in Montreal, Canada through DRA Met-Chem (“DRA”).

For the complete news release please visit the Sama website.


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