Sterling Metals Exercises Option to Acquire 100% of the Adeline Project in Labrador

Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) announced on June 18, 2024, that it has exercised its option to acquire 100% of the Adeline Copper-Silver Project in Labrador, Canada, from Chesterfield Resource Plc. This acquisition will be completed by June 30, 2024, involving a cash payment of CAD$200,000 and the issuance of 8,500,000 common shares to Chesterfield, bringing Chesterfield's stake in Sterling to 5.46%.

Mathew Wilson, CEO of Sterling Metals, emphasized the strategic advantage this acquisition provides. He highlighted the significant copper and silver showings across the Adeline Project's 44km basin and the company's strengthened position in top-rated mining jurisdictions.

Exploration at the Adeline Project revealed multiple copper showings, with 10 out of 11 holes intersecting copper mineralization in the inaugural drill program. Sterling has enlisted ALS GoldSpot Discoveries Ltd. to conduct remote sensing and targeting studies to improve exploration efficiency.

The Adeline Project covers approximately 30,000 hectares and features copper-silver-rich terrain. Sterling Metals aims to leverage these assets to capitalize on rising copper and silver prices and drive future discoveries.