Sarama drills 1.65 g/t gold over 34 metres at Sanutura, Burkina Faso

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Sarama Resources Ltd.’s [SWA-TSXV; SRR-ASX] exploration drilling has returned further significant intersections in near-surface oxide material outside the current mineral resource. These intersections, including 34 metres of 1.65 g/t gold, are in a sparsely drilled area at the MM & MC Prospects and open-up a new trend for future exploration. The reported drilling totals 700 metres, part of an ongoing +50,000-metre program at the 100%-owned, multi-million ounce, Sanutura Project, Burkina Faso, primarily designed to increase the oxide component of the project’s already large 0.6Moz gold (Indicated) plus 2.3Moz gold (Inferred) Mineral Resource.

Highlights include a new exploration trend, extending for 1.7 km , identified at MM & MC Prospects within the Sanutura Project. Highlighted downhole intersections in oxide material from new assays include 34 metres of 1.65 g/t gold from 18 metres in TAA315; 12 metres of 1.36 g/t gold from 18 metres in TAA417; 4 metres of 3.23 g/t gold from 47 metres in TAA192 (including 1 metre of 10.25 g/t gold); 12 metres of 1.04 g/t gold from 12 metres in TAA381 (including 4 metres of 2.16 g/t gold); 5 metres 2.40 g/t gold from 62 metres in TAA380; and

5 metres of 1.16 g/t gold from 31 metres in TAA415.

Potential for discovery of significant mineralized lodes oblique to the strike of the current Mineral Resource, which are integral to the gold endowment of the MM and MC Prospects

Intersections are in shallow, oxide material with high potential to add to the oxide and transition component of the Mineral Resource, currently standing at 0.2Moz gold (Indicated) plus 0.8Moz gold (Inferred). Results continue to highlight the potential for new discoveries and resource extension in underexplored areas

Further assays pending from Q2 2022 drill program – to be released as they come to hand and follow-up drilling, including greenfields exploration drilling, expected to commence in Q4 2022.

Sarama’s President, CEO & MD, Andrew Dinning commented: “We are very pleased with these results and once again, the current drill program is delivering new, shallow high-value material, building on the new discovery at the Obi Prospect and new high-grade mineralization within the MM Prospect. We are particularly excited by the 34 metres of 1.65 g/t gold intersection which is significant not only because it is in oxide material but also as it is outside the current Mineral Resource. The results show potential for another new exploration trend featuring oblique and/or blind mineralization that has the potential to add significant amounts of high-value material to the current Mineral Resource.”

Results are being reported for approximately 700 metres of aircore drilling (12 holes) undertaken in June/July 2022 in the southern part of the MM & MC Prospects. The drilling targeted the near-surface oxide horizon to a depth of approximately 50 metres.

The recent reconnaissance drilling was targeted using soil geochemistry and geophysical surveys conducted by Sarama and followed up historical reconnaissance drilling in the area which include highlighted intersections of:

Sarama’s 100%-owned Sanutura Project is principally located within the prolific Hounde Greenstone Belt in south-west Burkina Faso and is the exploration and development focus of the company. The Project hosts the Tankoro and Bondi Deposits which have a combined Mineral Resource of 0.6Moz gold (Indicated) plus 2.3Moz gold (Inferred).

Sarama has built further optionality into its portfolio including an approximate 470 km2 exploration position in the highly prospective Banfora Belt in south-western Burkina Faso. The Koumandara Project hosts several regional-scale structural features and trends of gold-in-soil anomalism extending for over 25km along strike.

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