Sarama Resources Ltd. announced that exploration drilling at its 100% owned, multimillion ounce Sanutura Project has discovered a new mineralised trend extending for 700m in the north of the Tankoro Mineralised Corridor. The reported drilling totals approximately 2,000m and was primarily focussed on testing for new mineralisation within the Phantom, Phantom East and Phantom West Prospects, which are located in the north of the Tankoro Deposit. The results represent the seventh discovery of additional and extensional mineralisation since the commencement of the Company's ongoing +50,000m drill program and continue to demonstrate the strong potential to grow the oxide component of the Project's 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred)(1) mining shape constrained Mineral Resource.

Drilling Identifies New Oblique Mineralised Trend over 700m Strike Length and Remains Open Results are being reported (refer Appendix A) for approximately 2,000m (43 holes) of aircore ("AC") drilling undertaken in Q2/Q3 2022 at the Phantom, Phantom West and Phantom East Prospects in the northern extent of the Tankoro Mineralised Corridor. The drilling targeted the nearsurface oxide horizon to a vertical depth of approximately 50m and highlighted downhole intersections from these holes include: 20m @ 1.68g/t Au from 16m in TAA405 (ended in mineralisation); 13m @ 1.79g/t Au from 7m in TAA403 (incl. 2m @ 8.88g/t Au); 9m @ 2.14g/t Au from 7m in TAA404; 6m @ 2.91g/t Au from 31m in TAA422 (incl.

1m @ 12.10g/t Au); 7m @ 2.18g/t Au from 22m in TAA389; 5m @ 3.01g/t Au from 43m in TAA429 (incl. 2m @ 6.70g/t Au); and 10m @ 1.13g/t Au from 7m in TAA420. Phantom and Phantom West Prospects The new drilling in the Phantom and Phantom West Prospects primarily targeted areas with potential for discovery of additional mineralisation and/or extensions to existing mineralised lodes.

These prospects are located to the north of the Tankoro Deposit and historical drilling has been relatively constrained, focussing on the delineation and extension of the dominant northnortheast ("NNE") oriented trends of steeply dipping lode packages which extend over a strike length up to 2.5km. A lateral distance of approximately 360m separates the two trends and historical soil geochemical surveys have returned elevated goldinsoil values in between, suggesting potential for obliquely oriented mineralisation to link the two main mineralised trends. This crosslinking type of mineralisation has been delineated extensively in the better drilled parts of the Tankoro Deposit and adds significantly to the economic potential for the Project.

Previous reconnaissance drilling along the targeted trend in the Phantom Prospect returned encouraging results and included downhole intersections of 6m @ 3.33g/t Au, 6m @ 3.85g/t Au and 6m @ 1.40g/t Au. The recent drilling reported in this news release followed up on these isolated intersections and stepped out along the projected trend of the elevated goldinsoil values and returned results including 6m @ 2.91g/t Au (incl. 1m @ 12.10g/t Au), 6m @ 1.40g/t Au and 2m @ 6.70g/t Au (incl.

1m @ 11.75g/t Au) which support the interpretation of a new mineralised trend extending for approximately 700m along strike. The mineralisation remains open in all directions and importantly, potential exists for it to be extended further to the southwest where it may intersect the main mineralised trend in the Phantom West Prospect. This hypothesis is supported by the elevated goldinsoil values and would bring the total length of this oblique mineralisation to approximately 1.2km.

The intersection areas of lodes of different orientations within the Tankoro Deposit is known to produce enrichment of mineralisation, in terms of volume and grade. In this respect, recent drilling in the projected intersection zone in the Phantom West Prospect has confirmed the presence of higher grades and localised thickening of the mineralisation with downhole intersections of 10m @ 5.25g/t Au (previously reported), 9m @ 2.14g/t Au and 13m @ 1.79g/t Au (incl. 2m @ 8.88g/t Au) being returned.

Further highergrade zones are present along strike in the current Mineral Resource of the Phantom West Prospect which may be associated with additional instances of crosslinking mineralisation. A recently returned downhole intersection of 20m @ 1.68g/t Au (ending in mineralisation) returned thicker than expected mineralisation and also ended in mineralisation. This enhances the current interpretation but also offers a nearfield target for followup in the zone, which also contains historical intersections of 10m @ 3.39g/t Au, 12m @ 2.25g/t Au and 6m @ 2.75g/t Au.