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Sterling Metals Commences Deep Orion 3D Geophysical Survey at Sail Pond

February 22, 2023

February 22, 2023 – Toronto, Ontario – Sterling Metals Corp. (TSXV: SAG and OTCQB: SAGGF) (“Sterling Metals” or the “Company”) is pleased to announce that it has commenced its 2023 field exploration program at the Sail Pond Silver and Base Metal Project in the Great Northern Peninsula of Newfoundland. Following up on the recent discovery at Heimdall North, the Company has engaged Quantec Geoscience to conduct an Orion 3D Swath DCIP and MT survey. The survey is designed to identify larger bodies of mineralization close to mineralization intersected in recent drilling and to map both host rocks and important structures down to a depth of up to 2 kilometers. The survey will cover 42 line kilometers and is expected to last 2 months (Figure 1).

Goals of the 2023 Field Program and Initial Survey

  • Identify potential high-grade feeder zones as exploration targets proximal to Heimdall and Heimdall North Zones;
  • Identify new targets along the mineralization trend; and
  • Provide 3D interpretation of key geological controls on mineralization.

Mathew Wilson, CEO of Sterling Metals, commented: “Our 2022 drill program highlighted two key findings. First, we identified two significant high-grade corridors consisting of quartz veins of exceptional grades and brecciated dolostone within Heimdall. Second, the discovery of 100% sulfosalt veining 500 m north of Heimdall demonstrates the strength of the fluid flow carrying these incredible high grades, suggesting that areas with more porous host rocks are likely to contain more high-grade fluid. The Orion survey will give us a detailed and deep look at the geological features controlling the high grade silver mineralization. The hope of this high resolution Orion survey is to provide a clear connection between the high grade mineralization in our near surface drilling to potentially larger pools of metal at depth. Our team is focused on executing a very well-designed exploration strategy to ensure that our 2023 drill campaign is one defined by many great successes.”

Figure 1: Planned Orion 3D Survey Area at the Sail Pond Project

2023 Field Exploration

Multiple zones of mineralization have been discovered at Sail Pond and the next phase of exploration is targeting larger accumulations of metal close to the zones. Drilling combined with down hole optical televiewer work in the 2022 campaign provides us with valuable exploration data to vector towards new zones. The current Orion 3D survey will cover areas of interest and further focus our targeting by identifying potential new zones and by mapping key structures and host lithologies (brecciated dolostone) to be tested in our 2023 drill program.

The Orion 3D survey will be carried out at 200 m line spacing along 3 km long lines, covering 3 km along strike and will effectively giving us a 3 km by 3 km survey block with valuable data down to 2 km below surface. The team has mobilized to Roddickton, Newfoundland and has commenced the survey on February 15, 2023.

About Orion 3D

Orion 3D uses core features developed through the evolution of the TITAN 24 system.

Orion is a highly flexible 3D ground geophysical survey that can mobilize anywhere, is unlimited by terrain and other surface conditions, and is perfectly suited to explore in sensitive areas.  Orion 3D collects three sets of data in multi-directions – DC Resistivity, IP (induced polarization) to depths of 800 m, and deep MT resistivity to depths greater than 2,000 metres. Orion 3D is the leading REAL 3D ground geophysical survey.

Figure 2: Orion 3D survey example results. Survey area of 2 km by 2 km with deep 3D information down to 2 km.

Qualified Person

Jeremy Niemi, P.Geo., Director of Exploration for Sterling Metals has reviewed and approved the technical information presented herein.

Laboratory Technical Note

Analytical services were provided by SGS Canada Inc., which is an independent, CALA-accredited analytical services firm registered to ISO 17025 standard. Drill core was halved by sawing at the Sterling core facility and half-core samples were securely stored at the facility until being delivered to SGS Grand Falls site by commercial transport. Samples were crushed to 80% passing 10 mesh, split to 250 g, and pulverized to 95% passing 150 mesh. Multi-element analyses, including base metals, were conducted on pulverized material using the ICP method for 34 elements. Laboratory over-limits analysis methods were applied as required. A systematic QAQC protocol was employed that includes systematic insertion in the sample stream of certified reference materials and blank samples, plus analysis of duplicate pulp splits.

About Sterling Metals

Sterling Metals (TSXV: SAG and OTCQB: SAGGF) is a mineral exploration company focused on Canadian exploration opportunities. The Company is currently advancing its 100% owned Sail Pond Project located in the Great Northern Peninsula of Newfoundland. The Sail Pond Project consists of high grade, silver, copper, lead and zinc associated with quartz-carbonate veining, brecciated dolostone, and 100% sulfosalt veining. The project is a brand-new discovery, first discovered in 2016 with no drilling prior to 2021. The project area covers 13,500 ha and is easily accessible by road with nearby services and an airport.

For more information, please contact:

Sterling Metals Corp.

Mathew Wilson, President & CEO

Tel:                  (416) 643-3887

Email:              [email protected]

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.