NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: SIRIOS RESOURCES INC. TSX VENTURE SYMBOL: SOI JULY 3, 2003 - 12:29 ET SIRIOS: Acquisition of the Dussieux Gold Property, Matagami, Quebec MONTREAL, QUEBEC, CANADA--Officers of SIRIOS RESOURCES INC. are pleased to announce the signature of an acquisition option with Jean Descarreaux et Associes Ltee. (JDAL) of Val-d'Or to acquire a 100 % interest in the DUSSIEUX property, Matagami area, Quebec. The DUSSIEUX property includes 18 claims covering 10 square km in DUSSIEUX township, 40 km east of Matagami, Quebec. JDAL completed a rock geochemical study of this area, mainly from old drilling data, and did delineate a strong carbonatisation (ankerite) anomaly over a minimum strike length of 3 km by 1 km wide, probably related to a shear or a fault zone. Furthermore, gold anomalous values ranging from 55 ppb over 56 meters up to 2,36 g/t over 1 meter were previously outlined in the margin of this anomaly within quartz-feldspar porphyries. This geological context is favourable for the occurrence of gold deposits as usually found in the Abitibi belt and consists by itself a drill target. Following the completion of a 500 meter diamond drilling program on the property on or before March 31st, 2004 or within 30 days of a completed 1,500 meter drilling program, SIRIOS will be exclusively entitled to buy the property by issuing to, 250,000 common shares and 250,000 share subscription options expiring on March 31st, 2007. Exercise prices of these options are 0,15 $ before March 31st, 2005; 0,20 $ before March 31st, 2006 and 0,25 $ before March 31st, 2007. JDAL will keep a Net Smelter Return royalty varying between 1% and 2% subject to some conditions. The agreement is subject to the approval of regulatory authorities. Dominique Doucet, President and CEO of SIRIOS, said : "this agreement is highly profitable for SIRIOS as the acquisition of the property will take place only following positive results in the first drill holes. On the seller side, he gains by the testing of his geological model without any costs and obtains a highly profitable counterpart if the transaction is closed." SIRIOS is the major shareholder of DIOS EXPLORATION INC. (TSX Venture Exchange - DOS), a very active leader in diamond exploration in the Otish Mountains area, Quebec.For more information:
Dominique Doucet, CEO
ddoucet@sirios.com
Phone: 514-510-7961
