NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: SIRIOS RESOURCES INC. TSX VENTURE SYMBOL: SOI DECEMBER 1, 2003 - 10:05 ET SIRIOS RESOURCES INC.: Private Placements MONTREAL, QUEBEC, CANADA--SIRIOS RESOURCES INC. reports its intent to undertake two non-brokered private placements, the first one with Venture Capital Funds and the second one with a maximum of ten shareholders. The first placement consists of a minimum of 1,818,812 units and a maximum of 4,090,913 units of the Company for gross proceeds to the Company of a minimum $200,000 and a maximum of $450,000. The price is $0.11 per unit and each unit will consist of one Common Share and half a warrant, one warrant entitling its holder thereof to subscribe for one Common Share at $0.15 per share for a period of 12 months after the closing date and at $0.17 during the next 12 months. The second placement consists of a minimum of 1,155,000 units and a maximum of 1,232,000 units of the Company for gross proceeds to the Company of a minimum $150,000 and a maximum of $160,000. The price is $0.13 per unit and each unit will consist of one flow-through share and half a warrant, one warrant entitling its holder thereof to subscribe for one Common Share at $0.15 per share for a period of 6 months after the closing date and at $0.17 during the next 18 months. These private placements are subject to regulatory approval and filings. The proceeds of these placements shall be used by SIRIOS mainly for exploration activities on its Quebec properties and for general purposes. SIRIOS, recipient of the 2001 QPA Prospector award, is discovering precious metals in Quebec and in Brazil. SIRIOS is the main shareholder of Dios Exploration Inc. (TSX Venture Exchange - DOS), one of the leaders in diamond exploration in the Quebec Otish region.
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Dominique Doucet, CEO