Sorrento moves drill crews, drill rig to Bottom Brook

Executive Summary

• Sorrento Resources has mobilized drill crews and a diamond drill rig to its Bottom Brook project in Newfoundland, marking the company's inaugural drill campaign.
• The initial phase involves nine diamond drill holes totaling approximately 1,300 meters, focusing on the U3 prospect to expand known rare-earth element (REE) mineralization.
• Two specific historical holes are being twinned to generate metallurgical testwork data, with the first hole completion anticipated in the first week of February.

Key Details

• Mobilization Status: Drill crews and a diamond drill rig have been successfully mobilized to the Bottom Brook project.
• Program Scope: The initial phase consists of nine diamond drill holes totaling approximately 1,300 metres.
• Target Area: Drilling focuses on the U3 prospect, which has historical drilling and known REE mineralization.
• Objectives: The program aims to expand known mineralization along strike, up dip, and down dip from historic intercepts.
• Twinning Plan: Two drill holes are planned to twin historical holes:
  • LP-07-09: 5.03 metres grading 4.37 per cent TREO (including 1.05 metres of 11.02 per cent TREO).
  • LP-08-17: 15.3 metres grading 1.16 per cent TREO and 7.5 metres of 1.27 per cent TREO.
• Metallurgical Testing: Drill core from the twin holes will be utilized for metallurgical testwork to evaluate the project's development potential.
• Schedule: Drilling is conducted on a 24-hour basis; completion of the first drill hole is anticipated during the first week of February.
• Technical Services Agreement: The company entered into an agreement with Bugden Exploration Inc. (controlled by CEO Alex Bugden and Director Neal Blackmore) for geological consulting services until Dec. 31, 2026, at a daily rate of $375 to $650. This constitutes a significant transaction under Canadian Securities Exchange policies.
• Project Location: Bottom Brook project comprises 16 mineral licences (606 claims, 15,150 hectares) located 40 km south of Corner Brook, Newfoundland.
• Historical High-Grade Intercepts:
  • 4.37 per cent over 5 m
  • 4.47 per cent over 5.6 m
  • 8.19 per cent over 2.00 m
  • 15 per cent over 0.5 m
  • 11.02 per cent over 1.05 m
  • 1.269 per cent over 7.5 m
• Geological Context: Mineralization is characterized by monazite-enriched horizons, compared to the Bayan Obo deposit (China) and Steenkampskraal deposit (South Africa).
• Data Verification: Historical data is from publicly available assessment files; the company has not independently verified compliance with NI 43-101 standards but considers results reliable.

Notable Quotes

• "Mobilizing our first-ever drill program is a major milestone for Sorrento and an exciting moment for our shareholders... We believe this drill campaign has the potential to significantly advance the project and further establish Sorrento as a serious participant in the Atlantic Canada critical minerals space." — Alex Bugden, CEO