MAY 6, 2004 - 10:21 ET

SIRIOS: Acquisition of the VAL D'OR NICKEL Property and
Beginning of Diamond Drilling

MONTREAL, QUEBEC, CANADA--(CCNMatthews - May 6, 2004) - SIRIOS 
RESOURCES INC. announces that it has signed an agreement with 
BROADBACK RESOURCES INC. ("Broadback"), whereby SIRIOS obtained 
the right to earn a 100% interest in the VAL-D'OR NICKEL 
copper-nickel property located 60 km north-east of Lebel sur 
Quevillon, Quebec.  The property is formed of 158 claims covering 
an area of 80 square kilometers. 

Geological and geophysical surveys were previously carried out by 
Broadback including a gravimetric survey completed in November 
2003.  These surveys result in a new structural geological 
interpretation with major implication for the exploration of the 
area.  It also outlines a 100 square km ultramafic to mafic 
intrusive complex associated to a strong gravimetric anomaly.  
This anomaly supports the new structural and petrological 
interpretation.  SIRIOS and Broadback's geologists agreed that 
the VAL-D'OR NICKEL property shows geological settings similar to 
the ones hosting major deposits and consequently has a very 
strong potential for the discovery of a significant nickel-copper 

Exploration effort to locate Ni-Cu (PGE) magmatic mineralisation 
will target on feeder dikes of the magmatic complex.  Work will 
mainly consist of diamond drilling and geophysical surveys 
(gravimetric and "Bore hole Pulse EM").  SIRIOS has just started 
drilling one of two vertical 400-meter holes to test the presence 
of ultramafic rocks under the gabbroic rocks occurring on 

To earn a 100 % working interest in the VAL-D'OR NICKEL property, 
SIRIOS will have to pay a sum of $20,000 and issue 300,000 common 
shares to Broadback on signing the agreement. In addition SIRIOS 
will have to spend a total of $1,500,000 on exploration expenses 
over a four-year period, including $125,000 in the first and 
second year respectively as well as issuing 300,000 and 400,000 
additional common shares.  A first 40% interest will be earn by 
SIRIOS following a first $500,000 in exploration expenses and the 
issuance of 1,000,000 shares.  A $250,000 payment will have to be 
paid either in cash or in shares at the end of each of the third 
and fourth year.  Broadback will keep a 2% Net Smelter Return 
royalty, which half of it being buyable by SIRIOS for $1,000,000. 

The agreement is subject to the approvals of the Board of 
Directors and regulatory authorities. 

Additional technical information will be available in the next 
few days on SIRIOS' web site. 


SIRIOS announces that it has withdrawn its application to the 
regulatory authorities to amend the terms of its previously 
issued warrants as announced in the April 20 Press Release.  
Consequently, the 500,000 warrants, initially issued on November 
5, 2002 pursuant to a private placement expired on May 4, 2004.

For more information:
Dominique Doucet, CEO
Phone: 514-510-7961

Print Friendly, PDF & Email