VANCOUVER, BC – TheNewswire - (October 12th, 2022) Gama Explorations Inc. (CSE:GAMA) (“Gama” or the “Company”) is pleased to introduce the Tyee Nickel Project (the “project”) in Quebec, which was acquired with the closing of the Tyee acquisition on September 20th.

Highlights

• The Tyee Project is located in the Havre St. Pierre anorthosite complex (“HSP Complex” or the “complex”), a newly recognized nickel belt in Quebec. Recent drilling in the complex, 20 km west of the Tyee project, yielded “wide intervals of nickel and copper sulphides”. 

• The Project covers 81.46 square kilometres located about 12 km north of the Romaine IV hydroelectric dam. The Romaine IV hydroelectric dam is serviced by a road maintained by Hydro-Quebec.  

• The Company plans to conduct airborne geophysical surveys followed by ground geophysics and prospecting to develop drill targets  

History

The HSP Complex is an intrusive suite of rocks to the north of Havre St. Pierre, Quebec The complex contains the Lac Tio titanium mine owned by Rio Tinto, and exploration to date has been conducted for titanium. Nickel sulphide occurrences were initially discovered in the northernmost part of the HSP Complex in the nineties. These nickel sulphide occurrences were staked by Go Metals in 2019 and subjected to inaugural drilling earlier this year. The Tyee nickel claims were staked by Tyee in March of 2022 after a detailed geological, geophysical, and geochemical review of the HSP Complex.

Access

The Tyee Nickel Project is approximately 12 km from a Hydro-Quebec Road and hydroelectric dam and is a fly-in project. Potential staging sites are along the road, hydroelectric dam and from Havre St. Pierre. Lakes within the project boundaries are likely amenable to fixed wing float plane landings.

Planned exploration

The Project is considered prospective for massive to disseminated sulphide mineralization, and these massive to semi massive sulphide zones can be imaged with electromagnetic surveys and IP arrays. The Company intends to fly an airborne electromagnetic survey as soon as possible, followed by prospecting and ground geophysics. GAMA continues to use detailed analysis of government data to assess the region for the potential continuation of nickel sulphides and other commodities of interest such as copper, cobalt, platinum, palladium and graphite. Based on the outcome of the airborne electromagnetic surveys, prospecting, and geophysics, GAMA will decide the best path forward for implementing a maiden drill program in 2023.

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Mick Carew, CEO of GAMA, noted “We at GAMA are very excited to advance the Tyee Nickel Project, which we believe to be a very prospective region for massive nickel sulphide and other deposit types. We look forward to delineating and executing a disciplined, efficient exploration program, and will continue to update investors as the story unfolds. With GAMA’s strong technical team at the helm, we believe Tyee represents an exciting opportunity to unlock value which to date remains significantly under-explored.”

About Gama Explorations Inc.

Gama is a Canadian company listed on the Canadian Stock Exchange (CSE: GAMA). The Company is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of copper. The company currently has the right to acquire 100% interest in the property known as the Big Onion Project located a short 20-minute drive from the town of Smithers in northern British Columbia. The Company’s objective is to explore and, if warranted, develop the Big Onion Property. It is the intention of the Company to remain in the mineral exploration business. The Company will evaluate opportunities to acquire interest in additional exploration stage mineral properties.

Forward-Looking Statements

This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of the Company. Forward-looking statements include, but are not limited to, the commencement of trading of the Company’s common shares on the CSE. The words “expected”, “will” and similar expressions are intended to be among the statements that identify forward-looking statements. Although the Company believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions or other factors should change.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.