Sama Reports on Five Drill Holes with High-grade Intercepts from the Grata Prospect, Located in the Ivory Coast, West Africa

(TheNewswire)

Hole GR-21 intercepted 192 metres of mineralisation including 12 metres of 0.82% nickel, 0.68% copper and 0.99 gpt palladium and 108 metres at 0.32% nickel, 0.38% copper and 0.50 gpt palladium

Montréal, Quebec, - TheNewswire - Oct 27, 2022 – Sama Resources Inc. (“Sama” or the “Company”) (TSXV:SME)(OTC:SAMMF) is pleased to announce the assay results from 3 additional drill holes from the 2021-22 drilling campaign at the Grata Nickel–Copper–Palladium prospect. Sama has drilled a total of 64 drill holes totalling 15,924 metres at the project in 2022 with 45 drill holes totalling 14,995 metres at Grata alone. The assay results for holes GR-21 to GR-23 are summarized in this release, with remaining results pending.

“We are very pleased with Grata’s latest drill results as it continued confirming the potential to significantly enhance the combined Samapleu-Grata surface mineral resources. Metallurgical studies are ongoing using both the Samapleu and Grata material with the aim of producing a revised economic assessment in 2023.” stated Dr. Marc-Antoine Audet, President & CEO of Sama Resources Inc.

Dr Audet added “Samapleu and Grata are only 2 localised areas within our property package. There are more than 20 areas showing similar or better geophysical responses that are yet to be investigated.”

Assays results for 3 holes (GR-21 to GR-23) drilled in Q1 2022 are presented in Table 1. Table 2 is summarizing significant assay results obtained up to date for Grata drill holes. All measurements are core lengths and may not represent true geological widths.

Table 1: Summary of 2021-22 drilling program at Grata. Results for GR-21 to GR-23 using a cut-of-grade of 0.1% nickel.

Grata: Latest discovery in the Yacouba Ultramafic-Mafic (“UM”) Intrusive Complex

In September 2021, Sama announced the Grata discovery located 5 kilometres east of the Samapleu deposit (Figure 1).

The discovery hole, GR-03 (Figure 2), drilled in June 2021, returned a 310-metre sequence of pyroxenite and gabbro containing a 147-metre interval of disseminated sulfides and several intersections of semi-massive sulphide mineralisation. The second hole, GR-04, confirmed the width of the mineralised zone with a 141-metre mineralised intersection including 6.4 metres(“m”) grading 1.05% nickel (“Ni”), 1.28% copper (“Cu”) and 0.48 grams per tonnes (“gpt”) palladium (“Pd”)and 6.6 m grading 0.73% Ni, 0.38% Cu and 0.30 gpt Pd.

This release discloses mineralised intersections for hole GR-21 returning a combined 191.70 m of mineralised material including 11.85 m grading 0.82% Ni, 0.68% Cu and 0.99 gpt of Pd and 108.20 m at 0.32% Ni, 0.38% Cu and 0.50 gpt Pd. Hole GR-22 intersected a combined 49.15 m of mineralised material including 4.55 m at 0.82% Ni, 0.73% Cu and 0.92 gpt Pd. Hole GR-25 intersected a combined 179.85 m including 37.40 m at 0.24% Ni, 0.45% Cu and 0.54 gpt Pd and 116.95 m at 0.23% Ni, 0.23% Cu and 0.32 gpt Pd.

The mineralisation at Grata is similar in composition to the Samapleu deposit (“Samapleu”) but shows a higher proportion of chalcopyrite. Metallurgical studies are ongoing using Grata and Samapleu material.

Sama’s goal is to increase mineral resources at Samapleu and Grata as well as searching for massive sulphide veins and lenses that could have accumulated at depth in traps and embayments along the feeder system of the Yacouba UM Intrusive Complex.

Table 2: Summary results of 2021-22 drilling program at Grata using a cut-of-grade of 0.1% nickel

• GR-03 intersected 147 m at 0.26% Ni, 0.29% Cu and 0.25 gpt Pd

including 56.00 m at 0.39% Ni, 0.45% Cu and 0.33 gpt Pd

• GR-04 intersected 141 m at 0.38% Ni and 0.37% Cu

including 6.40 m grading 1.05% Ni, 1.28% Cu and 0.48 gpt Pd

including 6.60 m grading 0.73% Ni, 0.38% Cu and 0.30 gpt Pd

• GR-05 intersected 117 m at 0.29% Ni, 0.31% Cu 0.42 gpt Pd

• GR-06 intersected 128 m at 0.30% Ni, 0.35% Cu 0.47 gpt Pd

including 14.00m @ 0.86% Ni, 1.49% Cu & 1.38 gpt Pd

• GR-06B intersected 60 m at 0.36% Ni, 0.40% Cu, 0.53 gpt Pd

including 7.70m at 1.28%Ni, 1.45% Cu and 1.92 gpt Pd

• GR-06C intersected 116 m at 0.26% Ni, 0.25% Cu, 0.62 gpt Pd

including 9.05m at 0.81%Ni, 0.84% Cu and 1.03 gpt Pd

• GR-07 intersected 22 m at 0.41% Ni, 0.28% Cu 0.43 gpt Pd

• GR-08 intersected 298 m at 0.24% Ni, 0.20% Cu, 0.23 gpt Pd including:

including 2.85 m at 1.68%Ni, 1.28% Cu and 1.12 gpt Pd

including 4.25 m at 0.82%Ni, 0.55% Cu and 0.56 gpt Pd

including 2.65 m at 1.47%Ni, 1.82% Cu and 1.19 gpt Pd

• GR-11 intersected 212 m at 0.28% Ni, 0.30% Cu 0.32 gpt Pd

including 8.20m at 0.84% Ni, 1.10% Cu & 1.24 gpt Pd

numerous narrow massive and semi-massive stringers

• GR-12 intersected 239 m at 0.30% Ni

including 8.50 m at 0.86% Ni, 0.79% Cu and 1.0 gpt Pd

• GR-15 intercepted 199 m at 0.30% Ni, 0.30% Cu

including 3.40 m at 1.48% Ni, 1.85% Cu and 2.11 gpt Pd

and a combined of 12.10 m at 0.83% Ni, 0.82% Cu and 0.79 gpt Pd

• GR-17 intercepted 303 m at 0.28% Ni, 0.28% Cu

including 8.10 m at 1.00% Ni, 0.81% Cu and 1.13 gpt Pd

• GR-18 intercepted 146 m at 0.17% Ni, 0.13% Cu

including 0.95 m at 1.01% Ni, 1.14% Cu and 0.78 gpt Pd

• GR-19 intercepted 233 m at 0.19% Ni, 0.17% Cu

including 3.25 m at 0.98% Ni, 0.90% Cu and 1.61 gpt Pd

• GR-21 intercepted 198 m at 0.27% Ni, 0.29% Cu

including 11.85 m at 0.82% Ni, 0.68% Cu and 0.99 gpt Pd

including 3.80 m at 0.84% Ni, 1.00% Cu and 1.03 gpt Pd

including 3.65 m at 0.62% Ni, 2.05% Cu and 1.30 gpt Pd

• GR-22 intercepted 51 m at 0.25% Ni, 0.32% Cu

including 4.55 m at 0.82% Ni, 0.73% Cu and 0.92 gpt Pd

Assays results are pending for 19 remaining DDH

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Figure 1: Newly discovered zone at Grata is located 5 km east of Samapleu, the image displays current and historic drilling.

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Figure 2: Surface layout for the 45 holes drilled at the Grata property. Current mineralisation is extending over a strike length of 850 metres, open on both ends. The depth extension of mineralisation is exceeding 400 metres from surface.

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Figure 3: Cross-section SW-NE at Grata showing the interpreted subvertical mineralised horizons. Assay results for 19 holes out of the 45 holes drilled to date, are still pending.

QA/QC

Core logging and sampling was performed at Sama’s Samapleu and Yepleu field facilities. Sample preparation was conducted at the Bureau Veritas Mineral Laboratory in Abidjan, Ivory Coast. Sample pulps were delivered to Activation Laboratories Ltd, Ancaster and Thunder Bay, Ontario, Canada, for assaying. All samples were assayed for Ni, Cu, Co, Pt, Pd, Au, Fe and S.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.D Geology, P.Geo and President and CEO of Sama, and a ‘qualified person’, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT SAMA RESOURCES INC.

Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu Nickel– Copper project in Ivory Coast, West Africa. The Company is managed by experienced industry professionals with a strong track record of discovery. Sama, is committed to develop and exploit the Samapleu Ni-Cu and Platinum Group of Elements Resources.

Sama’s projects are located approximately 600 km northwest of Abidjan in Côte d’Ivoire and straddle both sides of the Ivorian and Guinean borders in West Africa. Sama’s projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso forming a 125 km long new Base Metal Camp in West Africa.

Sama owns 70% interest in the Ivory Coast project with its joint venture partner Ivanhoe Electric owning 30%. Ivanhoe Electric has the option to purchase up to a 60% interest in the project. For more information about Sama, please visit Sama’s website at www.samaresources.com.

ABOUT IVANHOE ELECTRIC INC.

Ivanhoe Electric (NYSE American: IE, TSX: IE), is an American technology and mineral exploration company that is re-inventing mining for the electrification of everything by combining advanced mineral exploration technologies, renewable energy storage solutions and electric metals projects predominantly located in the United States.

FOR FURTHER INFORMATION, PLEASE CONTACT:

SAMA RESOURCES INC./RESSOURCES SAMA INC.

Dr. Marc-Antoine Audet, President and CEO

Tel:(514) 726-4158

OR

Mr. Matt Johnston, Corporate Development Advisor

Tel: (604) 443-3835

Toll Free: 1 (877) 792-6688, Ext. 5

Forward-Looking Statements

Certain of the statements made and information contained herein are "forward-looking statements" or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information such as “will”, could”, “expect”, “estimate”, “evidence”, “potential”, “appears”, “seems”, “suggest”, are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the ability of the company to convert resources in reserves, its ability to see through the next phase of development on the project, its ability to produce a pre-feasibility study or a feasibility study regarding the project, its ability to execute on its development plans in terms of metallurgy or exploration, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.

In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

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

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