Dr. Marc-Antoine Audet reports

SAMA RESOURCES ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT ON SAMAPLEU-GRATA NICKEL-COPPER PROJECT, COTE D'IVOIRE

Sama Resources Inc. has filed on SEDAR+ an independent technical report prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, supporting the results of a preliminary economic assessment for the Samapleu-Grata nickel-copper project located in Ivory Coast, West Africa. The Samapleu-Grata nickel-copper project belongs to Sama Nickel Corp., owned jointly at 60/40 between Ivanhoe Electric Inc. and Sama. Sama notes that there has been an adjustment in the after-tax NPV (net present value) reported in its March 21, 2024, press release and the report. The press release disclosed an after-tax NPV (discounted at 8 per cent) of $257-million (U.S.) and an after-tax IRR (internal rate of return) of 22.3 per cent, whereas the report discloses an after-tax NPV8 of $277-million (U.S.) and an after-tax IRR of 21.9 per cent. The $20-million (U.S.) increase in after-tax NPV (and 0.4% decrease in post-tax IRR is the result of certain tax adjustments within the financial model. When the tax calculations were corrected, the post-tax NPV8 increased and after-tax IRR decreased accordingly.

The effective date of the report is March 21, 2024.

The full report, entitled "NI 43-101 Preliminary Economic Assessment for the Samapleu and Grata Deposits Project," can also be found on the company's website and on SEDAR+ under the company's issuer profile.

Grant of stock options

Subject to regulatory acceptance, the company has granted an aggregate total of 680,000 incentive stock options to certain officers, employees and consultants, subject to certain vesting provisions. These options will be exercisable at a price of 11 cents per common share and will expire on May 3, 2034.

About Sama Resources Inc.

Sama is a Canadian-based, growth-oriented resource company focused on exploring the Samapleu nickel-copper project in Ivory Coast, West Africa. The company is managed by experienced industry professionals with a strong record of discovery. Sama is committed to advancing the Samapleu-Grata nickel-copper project. Sama's projects are located approximately 600 kilometres northwest of Abidjan in Ivory Coast and are flanked to the west by the Ivorian and Guinean borders. Sama's projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso, forming a 125-kilometre-long new base metal camp in West Africa. Sama owns a 40-per-cent interest in the Samapleu nickel-copper project in Ivory Coast, with its joint venture partner Ivanhoe Electric owning 60 per cent.

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