Sterling Metals Corp. announced the commencement of its 2023 drilling program at the Sail Pond Project located in the Great Northern Peninsula of Newfoundland. The drill program will test for potential large accumulations of high-grade silver and copper mineralization in six new anomalies identified in the recently completed Orion 3D geophysical survey (the "Orion survey"), including a potential source to the Heimdall North Zone discovered in 2022.

The recently completed Orion3D geophysical survey encompassed both the Heimdall and Heimdall North Zones with the goal of identifying potential sources of surface mineralization and larger accumulations of high-gradesilver and copper mineralization. The survey included a chargeability component, used to identify sulphide mineralization, seeing to a depth of 500 metres below surface. Along with the chargeability, the Orion survey also included a magneto telluric ("MT") survey which mapped the resistivity down to 2 kilometres depth.

The MT data shows resistivity of the rocks and has been used to map the host dolostone units and important structures which the Sail Pond silver-copper mineralization follows. The 2023 targets for drilling include a combination of strong chargeability (increased sulphide potential) along trend from existing surface and drilling intercepts and within dolostone. The first target of the campaign is located directly below and on trend from the mineralization intersected in hole SP-22-064, which intersected 3,499.1 g/t AgEq over 0.35 m. The Orion survey identified a wide chargeability zone, over 100 m, below hole SP-22-0 64 with a halo extending towards the mineralization in the hole.

The chargeability response is interpreted to potentially be an accumulation of sulphide and sulphosalt minerals which are highly chargeable, especially in contrast to the dolostone rocks which host mineralization at Sail Pond. Discovered during the 2023 drill program, the polymetallic vein with high-grade silver and copper intersected 3,499.1 g/t Ag Eq over 0.35 m (1,564 g/t Ag, 8.33% Cu, 12.83% Pb, 2.74% Sb, & 3.93% Zn) within a broader interval of 294 g/t Ag Eqover 4.67m (129 g/t Ag, 0.66% Cu, 1.19% Pb, 0.22% Sb, & 0.45% Zn in hole SP-22-064 beginning at 179.23 m downhole. The mineralization is a combination of sulphides such as chalcocite and chalcopyrite with sulphosalts.

The lower contact of the vein is brecciated with fragments of the host dolostone being pulled into the mineralization. The contacts of the vein point downwards and towards the new chargeability anomaly identified in the Orion 3D survey.