Sierra Grande Minerals announced that it has completed drone-based aeromagnetic surveys along with soil and rock geochemical data and preliminary geologic mapping to further highlight exploration potential, at its Glitra-Sat Project in Western Nevada. The magnetic lineaments and magnetic relief, which commonly correlate with altered and potentially demagnetized host rocks, also correlate closely with anomalous precious metals outlined in the Company's 2020 geological evaluations, and in its 2021 soil and rock geochemical sampling. The results of the Company's present compilation work will be employed during its 2023 exploration program to focus further geological mapping and geochemical sampling efforts, and to lay a foundation for ground geophysical surveys (for example, Controlled Source Audio Magneto-Telluric (CSAMT) and/or induced Polarization (IP) surveys).

The aim is that these surveys will lead to drill-testing of targets which display the most attractive combination of geological, geochemical, and geophysical features. The drone-mag surveys at Glitra-Sat covered the entirety of the two properties with flight lines spaced 50 meters apart and flown on azimuths perpendicular to known and/or interpreted stratigraphic, structural, mineralized and altered trends. Technical details of the surveys, and products thereof, are given below.

The aim of the surveys was to better outline altered and mineralized trends on the properties, which may be expressed, for example, as magnetic lows reflecting magnetite destruction accompanying alteration within relatively magnetic host rocks. This should prove particularly helpful in areas where mineralized trends appear to continue beneath areas partially to completely covered by overburden. At the Glitra-Sat project, the Company has three separate but closely spaced properties in the Seven Troughs Range which lie south of Millennial Precious Metals' Wildcat gold deposit (Glitra, Sat and Orbit, see Figure 1).

On February 27, 2023 Millennial Precious Metals (TSX-V: MPM) announced a merger with Integra Resources Corp. and a concurrent CAD 35,000,000 financing with Wheaton Precious Metals as a new cornerstone investor, with Wheaton agreeing to invest an amount equal to up to 9.9% of the issued and outstanding shares of the merged company. Sierra views this as a very positive development for the area which will likely result in more development in the area.