Sama Resources Presentation December 7 2020 · 2020. 12. 17. · ä 6$0$ 1,&.(/ &{wh g¶,yrluh 6$5/ 6$0$ 5hvrxufhv 'hyhorsphqw &d\pdq 6$0$ 1,&.(/ &25325$7,21 &dqdgd 6rflpwp 0lqlquh

Corporate UpdateMontreal Québec, Canada June 16, 2021

TSX.V: SME | OTC.PK: SAMMF

Africa

Canada Québec

This presentation contains forward-looking statements. Forward-looking statements involve known and unknown risks,uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed orimplied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-lookingstatements include words or expressions such as “objectives”, “forecast”, “pursue”, “growth”, “estimate” and other similar wordsor expressions. Except for statements of historical fact relating to the Corporation, information contained or incorporated byreference herein constitutes forward-looking information, including, but not limited to, the future price of, and demand for,minerals, as well as the Corporation’s strategy, plans or future financial or operating performance. Forward-looking information isbased upon assumptions that were applied in drawing a conclusion or making a forecast or projection that are believed to beappropriate in the circumstances, including the following: the Corporation will be able to obtain additional financing on reasonableterms or at all; the Corporation will be able to recruit and retain the services of its key technical and management personnel; theCorporation’s management will not identify and pursue other business objectives in future; there will be no unexpectedtechnological, economic, political or other disruptions that will affect supply or demand for minerals in manner that would have amaterial adverse effect on the Corporation; the Corporation will be able to obtain all required regulatory approvals without unduedelay or subject to excessively burdensome conditions; the results of current exploration activities will be favorable; the price ofminerals will remain sufficiently high and the costs of advancing the Corporation’s projects sufficiently low so as to permit it tosuccessfully implement its business plans; and that the risks referenced above, collectively, will not have a material impact on theCorporation. While management considers these assumptions to be reasonable based on currently available information, theymay prove to be incorrect.

Risk factors that could cause future results or events to differ materially from current expectations expressed or implied by theforward-looking statements include, but are not limited to, exploration results, revenue, fluctuations in the price of currencies orminerals or of local operating costs, mining industry risks, delays, political and social stability in Africa including our ability tomaintain or renew permits and other risks as described in our documents filed from time to time with Canadian securitiesregulatory authorities. Information with regards to these and other risk factors can be found in Sama’s MD&A for the year endingDecember 31, 2020 available at www.sedar.com.

These forward-looking statements are dated as of February 01, 2021 and we disclaim any obligation to update or revise theseforward-looking statements, except as required by applicable law.

Forward Looking Statements

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http://www.sedar.com/

CORPORATE PROFILEM

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Benoit La Salle – Executive Chairman and Director (FCPA, FCA, MBA)• President and CEO of Aya Gold & Silver, Chairman and Director of SRG Mining and Former President & CEO of SEMAFO IncDr. Marc-Antoine Audet – President, CEO, and Director (PhD Geology, P.Geo.)• Former Manager of International Exploration at Xstrata Nickel. Founder of SAMA Nickel and the Yacouba layered ComplexIsabelle Gauthier – CFO (CA)• 20 years experience in accounting, auditing and former Senior Director of Raymond Chabot Grant Thornton Bakayoko Bouake – Exploration Manager, West Africa • Falconbridge’s nickel exploration associate on projects between 1994 – 2008 (Côte d'Ivoire, New Caledonia, Brazil)

Eric Finlayson – Director (BSc., Hons.)• President of High Power Exploration Inc and has served as the Chief Executive Officer of Rio Tinto Coal MozambiqueGovind Friedland – Director• Founder and Executive Chairman of GoviEx Uranium and a Director and Co-Founder of Ivanhoe IndustriesOusmane Paye – Director• Economist and Diplomat, former ambassador of Senegal in CanadaRichard Quesnel – Director (BSc., Eng.)• Former President & CEO of ConsolidatedThompson Iron Mines of Montreal (Acquired by Cliffs Natural Resources in a $4.9 billion all-cash deal)MarcelAubut – Director (O.C., O.Q., Q.C., Ad. E.)• Mr. Aubut has been a corporate lawyer for more than 30 years. Former President, CEO and co-owner of the Québec

Nordiques; Former President of the Canadian Olympic Committee; Member of the Order of Canada, Officer of the NationalOrder of Quebec & inducted into Canada's Sports Hall of Fame

Matt Johnston – Corporate Development Advisor (BBA)• Corporate Development Advisor of SRG Mining Inc.; Former Advisor of Talison Lithium Ltd., Salares Lithium Inc. and Terraco Gold Corp.Ron Netolitzky – Advisor (Msc., P.Geo)• Former Chairman of Viceroy Resources Corp., LokiGold Corp. & Inducted into the Canadian Mining Hall of Fame Mike Halvorson – Advisor (Bcomm)• Former Director of Novus Energy,GentryResources, Viceroy Exploration and Western SilverTodd Hilditch – Advisor (BSc.)• Former President & CEO of Terraco Gold Corp. and Salares Lithium Inc.

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TSX.V: SME | OTC.PK: SAMMF samaresources.com 3

Corporate Summary

TickerTSX-V: SME

OTC-US: SAMMF

Shares Outstanding 216,556,660

Options 17,795,000

Warrants 5,419,500(CAD$0.15 strike price)

Market Cap CAD$35,731,000(CAD$0.165 per share June 15th, 2021)

Debt Nil

Cash (June 15th, 2021)

Securities Holdings 24.8 M shares of SRG Mining Inc. (June 15th, 2021)

*** Pending Transaction: Securities Holdings 8.5 M shares of Seahawk Gold(Anticipated close July 1st, 2021)

HPX Project Spend (Project level only)

CAD$2,000,000(+ HPX 2021 expenditures- cash call basis)

(+$700k receivable from SRG)

CAD$14,136,000(~CAD$0.065 per share of SME)

***CAD$7,140,000(~CAD$0.033 per share of SME June 15th, 2021)

CAD$16,000,000

Project Location Côte d'Ivoire

SHAREHOLDERS• Ivanhoe Energy 23.1%

• MMG (China Minmetals) 7.1%

• Management & Insiders 6.1%

• Commodity Discovery Fund 2.0%

• African Lion 1.6%

• Stephens Investment Management

• MJG Capital Fund

TSX.V: SME | OTC.PK: SAMMF samaresources.com

* Please see full option and warrant schedule on slide 48

4

Conceptual Corporate Structure

SAMA NICKEL Côte d’Ivoire SARL

100%

SAMA Resources Development

(Cayman)

SAMA NICKEL CORPORATION

(Canada)

Société Minière du Tonkpi SARL

100%

PR 300Zérégouiné

PR 604Grata

PR 838Samapleu W

PR 839Samapleu E

PR 840Zoupleu

SAMA Corporation: 66.6%

SODEMI : 33.3%

HPX | Ivanhoe Electric: Earn-in of up to 60%with the completion of a CAD$30,000,000 investment

Sama Resources Liberia Inc.

100%

5TSX.V: SME | OTC.PK: SAMMF samaresources.com 5

HPX IVORY COAST HOLDINGS INC. 23.1% Ownership (50,000,000 shares)

Sama Resources Inc.

SRG Mining Inc. 32.55% ownership

(24,800,000 shares) by Sama Resources Inc.

Gold Acquisition vehicle

Seahawk-SamaIn progress

Lac Brulé Ni-Cu Canada

Sama ResourcesQuebec(SRQ)


Guinea

Liberia

Côte d'Ivoire

Proposed Guinea-Liberia Railway line to Buchannan Iron Ore Export Terminal

Port for shipping

The Samapleu and Yepleu deposits’mineralization and geological characteristics aretypical of layered Pipe-like Intrusion or aconduit-hosted nickel deposits.

These rare types of intrusions host the world’slargest nickel-copper deposits such as:

• Noril’sk (2,216 Mt at 0.78% Ni, 1.38% Cu)• Jinchuan (515 Mt at 1.06% Ni, 0.67% Cu)• Voisey Bay (137 Mt at 1.68% Ni, 0.87% Cu)• Eagle (5 Mt at 3.33% Ni)• Eagle Nest (20 Mt at 1.68% Ni, 0.90% Cu)• Kalatongke (24 Mt at 0.68% Ni, 1.08% Cu)

GEOLOGICAL MODEL AND WORLD CLASS POTENTIAL

Naldrett 2004

(Zhou et al., 2002; Song et al., 2011; Ding et al., 2012a; Lightfoot and Evans-Lamswood, 2015)


SAMAPLEU & YEPLEU GEOLOGICAL MODEL25 km


April 2021: Proposed DDH

20,000 CT target

8.0 m (combined) of massive sulphide grading 4.08% Nickel, 2.43% Copper & 2.92 gpt palladium starting 60.1m from surfacePart of a 54 m of mineralized pyroxenite 0.96% Nickel, 0.76% Copper & 0.74 gpt Palladium


9.3m grading 2.68% Nickel, 1.47% Copper & 2.30 gptPalladium Samapleu 2021


High grade Ni-Cu massive sulfide mineralization (SM44-454265 (2021-01)) showing sharp contacts with the mineralized pyroxenite host

Yepleu: First Ni-Cu sulphides discovery outcropping in West-Africa (2013)


Discovery Yepleu Ni-C-PGE 2013https://www.youtube.com/watch?v=NSEWDKT8eME

Samapleu Main & Extension: Revisiting 2013 HTEM survey


Based the re-interpretation of the 2013 small grid Helitem inversion at Samapleu Main and Extension 4 new proposed holes were planned in addition to the hole aiming at the 15,000 CT target at 600m from surface.

Typhoon EM: Compilation of the 2019 surveys at Yepleu


Yepleu Area: 2020 Drilling results & 2021 targets


Note: The hand-held Niton XRF analyzer provides assay readings for a wide range of metallic elements including nickel and copper. XRF readings are made through a window of a few square millimetres. Reported values obtained using the Niton XRF analyzer are being used only for exploration planning

Sama’s 2021 Drilling program: Yepleu 2021-02


31.15m @ 0.25%Ni & 0.10%CuInc: 4.70m @ 0.76%Ni, 0.32%Cu & 0.47gpt Pd

61.00m Disseminated mineralisation486m to 557m

Niton XRF measurementsDepth Cu Ni Fe

m % % %486.70 0.07 3.21486.80 0.15 1.17487.55 0.06 3.48487.70 11.86 1.05


Sama’s 2021 Drilling program: Yepleu 2021-03 & 04


15.00m mineralisationInc 3.8m Semi-Massive

313m to 317m


m % % %313.20 0.15 1.91 30.35313.85 5.75 0.14 12.05314.16 1.83 1.25 27.05314.40 0.15 0.93 23.69314.65 0.16 1.48 32.26315.25 2.61 0.54 17.25315.40 0.26 1.13 33.74315.80 0.06 1.35 31.30316.25 1.76 0.50 14.53316.50 2.77 5.01 41.57316.85 4.21 1.48 34.65317.10 0.30 0.17 13.49317.25 0.13 1.59 34.60

17.00m mineralisationInc 1.85m Massive & Semi-Massive

324m to 341m


m % % %324.85 0.07 1.94 45324.95 0.17 1.94 39325.05 1.92 1.73 37326.55 0.68 1.00 30326.60 0.42 2.44 39331.20 0.10 1.32 32331.25 0.14 1.53 31331.35 0.61 1.40 34339.95 0.09 2.01 36340.20 0.06 1.70 32340.40 0.30 1.87 30340.60 0.85 0.72 18341.15 1.77 2.83 35


Nov 2020 DHTEM and 2021Yepleu : 2021-05 (in progress)

20,000 CT conductorOffhole DHTEM

High conductive target zone

Open ?

YE45-365765: Near miss:8.00 m @ 0.31% Ni & 0.24% Cu Including: 1.00 m @ 1.09% Ni, 1.29% Cu & 0.18 gpt Pd

YE45-365765

1,101 m

Note: the plate is showing on the last 5 time channels, we also don’t see the full anomaly as the response extends past the length of the hole


Typhoon EM: Nov 2020 DHTEM at YE47-365765


Moderate strength in hole response, relates to 15m zone of weak disseminated sulphides in core between 580 and 595 m.

Strong in and off hole response correlates to 2 m intersection of disseminated sulphides at 800 m. U and V component responses suggests good off hole extension. Latest channels show that there could be stronger off hole conductor.

Off Hole Plate Specifications300 x 350 m dip 0, dd 163, CT 20000, Centre of plate 607840 E 839046 N-73 mRL

Yepleu: First Ni-Cu sulphides discovery outcropping in West-Africa (2013). Mr. Demers, Canadian Ambassador in Côte d’Ivoire testing the mineralized zone (June 2021).


2021 Samapleu Pre-Feasibility


In March 2020, Sama Nickel gave to Sodemi the technical document produced by the DRA for an Exploitation permit at the Samapleu deposit.

The document provides details for a production of nickel powder and iron from a nickel concentrate produced as a result of the extraction of theNi-Cu-PGE deposit from three open pits. The nickel and iron powders would have be produced using the carbonization process of CVRM, aCanadian company based in Toronto.

On December 27, 2020, Sama notified CVMR that Sama reserves the right to divide into two distinct phases the metallurgical production of theSamapleu project in order to minimize the technological risks related to the geographical specificity of the project and the need to better controlenvironmental issues, in other words, the production of sulfuric acid as a rejection of the CVMR process. Therefore, and in consultation withour partner Ivanhoe Electric it was was decided to revisit the 2020 PEA with the main objective of putting the Samapleu deposit into productionand producing a nickel concentrate and a copper concentrate, i.e. phase 1 of the technical document presented in March 2020.

Phase 2, production of nickel and iron powders, will be evaluated later following the start of the Phase 1 concentrator and its full capacityefficiency.

2021 Samapleu Pre-Feasibility


Jaw Crusher

Grizzly Feeder

Crushed Ore Stockpile

Cu/Ni Rougher

Reclaim Feeder

SAG Mill

Ball Mill

Cyclone

Screen

Ni Scavenger

Cu/Ni Cleaner Cu/Ni Cleaner Scavenger

Cu/Ni Separation

Copper Concentrate Thickener and Press

Cu Column Ni Column

Po Rougher

Low Sulfur Tails

Nickel Concentrate Thickener and Press

High Sulfur Tails Thickener and Press

Reagent Services

Air Services

Water Services

Conditioning Tank

Ni 1st Cleaner Scavenger

Ni 1st Cleaner

Ni 2nd Cleaner

To CVMR


1,200 m

Equivalent Samapleu todayDisseminated mineralization

Lenses and veins of Massive Sulphide

Analogy: Noril’sk (2,216 Mt at 0.78% Ni, 1.38% Cu)

24

New Coretech 3000

Coretech 1300G

Komatsu D85

Caterpillar D7GLow Bed 24


West African craton hosts numerousworld-class gold deposits.Up to 450Moz in global resources.

It is the largest Paleoproterozoicgold-producing region in the world.

LiberiaThe Last FrontierMining Focused

2

Conceptually we can raise CAD$1,500,000 -CAD$2,000,000 between CAD$0.50 -CAD$0.60 on the current 37,030,488(+2,000,000 shares in units and warrants -39,030,488 fully diluted after financing) andSama would own 8.5M shares of the vehiclebased on valuations projected on Liberianassets (ideally held in certificate form). Theconceptual vehicle fully diluted at~51,000,000 shares and a valuation to SMEof ~CAD$6,100,000 day 1 before we evensink our first drill hole.

As it stands, SEAHAWK is one of the largestlandowners in the Urban-Barry Gold belt(Osisko being #1) in Quebec so the tie toSME would look clean and potentially openup doors in the future to financings viaQuebec based sources.

SRD-SEAHAWKS: CONCEPTUAL SHARE STRUCTURE

TSX.V: SME | OTC.PK: SAMMF samaresources.com

Stock Symbols / Share Structure

(CUSIP NO. # 81202L109)

Canadian Stock Exchange (CSE) SHV

United States, OTCQB / DTC Eligible SEHKF

Frankfurt, Germany 7SR:GR

200 – Day Moving Avg. CAD$0.46



Market Capitalization CAD$17,414,000

Shares Outstanding 32,287,417

Options at CAD$0.25 2,700,000

Warrants 2,033,071

Share Held by Insiders ~49%

Fully Diluted 37,020,488


Guinea

Liberia

Côte d'Ivoire


West African craton hosts numerous world-class gold deposits with a gold endowment of over 450Moz.

It is the largest Paleoproterozoic gold-producingregion in the world.

Liberia: Last Frontier and Mining Focused

Liberia is underlain by the West African Craton, which has remainedstable since about 1.7 Ga.

The craton consists of two major basement domains;-Reguibat Shield (in the north and around Mauritania)-Man Shield (3.0–2.5 Ga) which underlies most of Liberia, andmuch of Sierra Leone, eastern Guinea and the western edge ofCôte d’Ivoire.

The two shields are separated by the Taodeni basin of Proterozoic toPalaeozoic age, while the Man Shield lies to the west of the ProterozoicBirimian Belts.


Gold in Liberia isconcentrated in both; the Archean craton andthe Birimian greenstonebelts. Trends & Structures cross-cutting into Ivory Coast.

More than 600 Goldoccurrences outlined by USGS in the 80’s

Liberia: The Last Frontier - Mining Focused

Gold occurrences are shown as yellow dots


AFRICA

Ni-Cu Projects Generation: Province of Québec, Canada

Lac Brulé Ni-Cu project


Lac Brulé Ni-Cuproject




« SRQ : Lac Brulé Ni-Cu Project»

The area is easily accessible year-round by vehicle 250 km north of Ottawa and 350 km north west of Montreal.

Old Ni-Cu Renzy mineOperated in 70’s selling concentrate to Falconbridge

Lac Brulé ProjectCombination of 160 km long

deformation pattern coupled to an intense isolated gravity high.

Elevated Base Metal Index in lake sediments

NI 43-101:Historical mineral resource of indicated 51,000 t @ 0.79% Ni, 0.72% Cu and inferred resources of 280,000 t @ 0.82% Ni, 0.89% Cu (COG: 0.7 % Nieq).

NI43-101Technical Report - Resources Evaluation November 2007 Vulcain Property, Hainaut township, Matamec Explorations Inc. Page 22 Geostat Systems

International Inc.

The ore extracted from the Renzy mine is massive. It contains 50% or more of sulphides …. magmatic nature rather than tectonic… Lake Renzy UM rocks form a pocket caused by magma injection through a feeder conduit. The presence of breccias confirms the very high potential of finding larger quantities of high-quality nickel mineralisation's…



Ottawa

Renzy Mine

Renzi NI 43-101: Historical mineral resource of indicated 51,000 t @ 0.79% Ni, 0.72% Cu and inferred resources of 280,000 t @ 0.82% Ni, 0.89% Cu (COG: 0.7 % Nieq).

Lac Brulé Ni-Cu project. exploration claims forming 1 large block surrounding the 19 claims first taken in May 2020 and own by Dr. Audet, and a smaller one south-west of the old Renzy Mine. The vertical gradient of gravity anomaly and the first derivative of the gradient magnetometer are shown in background.



At the discovered surface gossan, Mai 2021



The newly discovered Lac Brulé Ni-Cu-Sc gossanThe gossan is exposed at surface over a strike length of 115 m and is part of a larger

meta-gabbro/ultramafic unit that can be traced over more than 430 m of strike and 200 m of width.



25 m



Assay analysis of nine samples collected from the gossan report very high scandium tenors ranging between 1.25 and 1.49 oz/t. These very elevated scandium values are indicative of a gossan derived from sulfides accumulations within a meta-ultramafic system. Scandium of such high tenors reported with nickel and copper sulphide mineralisation is one of a first, if not the first, reported occurrence in the Province of Quebec”

Assay results for nine samples collected at the gossan at surface. Sulfur (S) is showing that gossan is derived from asulfide body, Cu is up to 0.15% event after leaching and scandium ranging between 1.25 oz/t to 1.49 oz/t is highlysignificative of a sulfide body derived from a meta-ultramafic protore.Percentages and oz/t were calculated from ppm divided by 10,000 for % and 32 for oz/t.

Analyte Symbol Ni Ni Cu Cu Co Fe Mg Au Sc Sc SUnit Symbol ppm % ppm % ppm % % ppb ppm Oz/t %Detection Limit 1 1 1 0.01 0.01 2 0.1 0.01Gossan 1 314 0.03 751 0.08 88 8.93 10.4 8 46 1.44 1.21Gossan 2 328 0.03 788 0.08 84 8.81 9.93 11 45.4 1.42 1.13Gossan 3 190 0.02 640 0.06 51 8.43 10.3 9 45.9 1.43 0.83Gossan 4 356 0.04 617 0.06 86 8.06 10.3 7 43.2 1.35 0.78Gossan 5 111 0.01 338 0.03 37 8.85 9.95 6 47.7 1.49 0.18Gossan 6 591 0.06 685 0.07 163 10.1 10.2 5 42.9 1.34 2.32Gossan 7 529 0.05 1430 0.14 153 9.32 10.1 24 40 1.25 2.5Gossan 8 276 0.03 743 0.07 95 9.3 10 9 40.2 1.26 1.52Gossan 9 455 0.05 782 0.08 132 9.56 9.84 7 42.8 1.34 1.85



The initial field investigation (early May 2021), aimed at validating Sama’s base metal index, the Company discovered a new gossan and its meta-gabbro/ultramafic host. The gossan was discovered exactly at the location predicted by the index.

Only a small part of the property have been look at during the first field visit. More than 80% of the property remain un explored.



The southern contact between gneiss and the meta-UM/gabbro. The meta-UM/gabbro is exposed continuously showing a width of 200 m.



Outcroping meta-ultramafic/mafic unit few kilometer NW of the gossan



Gneiss and micro gabbro with a Meta-UM zenolith



Proposed 700 line-km drone Magnetometry & Radiometric survey: July 2021

CSR Commitment:

“SAMA Resources through its African subsidiaries recognizes the

pursuit of economic growth through employment creation and income

generation”

• Provide reasonable working conditions and terms of employment;

• Comply with national law;• Not make employment decisions on the

basis of personal characteristics like gender, ethnic or religion;

• Base the employment on the principle of equality and fair treatment;

• Not to employ children (all persons under the age of 18) in any manner that is economically exploitative;

• Provide a safe and healthy work environment.

46TSX.V: SME | OTC.PK: SAMMF samaresources.com 46

Stock Option & Warrant Expiry Schedule Stock Options Outstanding

Exercise Price Expiry Date

400,000 0.15 June 29, 202150,000 0.12 August 31,2021

1,400,000 0.32 June 6, 2022200,000 0.155 June 21, 2022

1,000,000 0.33 October 14, 20222,150,000 0.19 April 21, 2025

200,000 0.18 May 27, 20251,900,000 0.085 January 17, 2027

500,000 0.15 March 31, 2027100,000 0.195 April 27, 2027

660,000 0.29 November 28, 20273,655,000 0.33 June 12,2028

340,000 0.30 July 29, 2028

60,000 0.30 October 31,20283,225,000 0.27 February 19, 20292,080,000 0.19 December 18, 2029

17,795,000

Warrants Outstanding

Exercise Price

Expiry Date

1,494,500 0.15 July 29, 2021

3,925,000 0.15 December 9, 2021

5,419,500


SME Short Data (Source: Buyins.net)


Thank You

TSX.V: SME | OTC.PK: SAMMF

Africa

Canada

Slide Number 1Slide Number 2Slide Number 3Slide Number 4Slide Number 5Slide Number 6Slide Number 7Slide Number 8Slide Number 9Slide Number 10Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Slide Number 17Slide Number 18Slide Number 19Slide Number 20Slide Number 21Slide Number 22Slide Number 23Slide Number 24Liberia�The Last Frontier� Mining FocusedSlide Number 26Slide Number 27Liberia: Last Frontier and Mining Focused�Liberia: The Last Frontier - Mining FocusedSlide Number 30Slide Number 31Slide Number 32Slide Number 33Slide Number 34Slide Number 35Slide Number 36Slide Number 37Slide Number 38Slide Number 39Slide Number 40Slide Number 41Slide Number 42Slide Number 43Slide Number 44Slide Number 45Slide Number 46Slide Number 47Slide Number 48Slide Number 49

Documents

Sama Resources Presentation December 7 2020 · 2020. 12. 17. · ä 6$0$ 1,&.(/ &{wh g¶,yrluh 6$5/ 6$0$ 5hvrxufhv 'hyhorsphqw &d\pdq 6$0$ 1,&.(/ &25325$7,21 &dqdgd 6rflpwp 0lqlquh