Sarama Resources Ltd. announced that assays returned from an initial 1,700m drilling of the ongoing +50,000m program at its 100%-owned, multi-million ounce Sanutura Project (the "Project") have extended gold mineralisation in several directions at the Obi Prospect and discovered a new trend for exploration. The drilling has delineated an extensive zone of flat-lying mineralisation in shallow, oxide material which extends approximately 950m along strike and up to 300m down-dip with mineralisation remaining open down-dip. These results deliver one of the Company's near-term objectives of growing the oxide component of the Project's already large Mineral Resource of 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred).

Exploration potential in the area has also been enhanced with the emergence of a new target area immediately along strike to the north-east, which is untested for approximately 1.8km. The Company anticipates drilling its high priority targets and commencing regional greenfields exploration early in the next field season commencing Fourth Quarter 2022. An Already Large Mineral Resource with Potential to Grow: The Company's primary focus is its 100%-owned Sanutura Project, which hosts a large Mineral Resource of 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred), covers an area of 1,420km2 and occupies a commanding position along 70km of strike in the prolific Houndé Belt.

The Project lies 60km south of Endeavour Mining's Houndé Mine (5Moz Au); 120km south of Fortuna Silver's high-grade Yaramoko Mine (1Moz Au), and 140km south of Endeavour Mining's Mana Mine (5Moz Au), highlighting the significant gold endowment of the Houndé Belt. Endeavour Mining's Bantou Project (1.5Moz Au Inferred Mineral Resource) is located only 6km from the bulk of the Sanutura Project's main deposit, which illustrates the gold camp scale of endowment in the immediate area. The Project has significant growth potential available and the primary objective of the current +50,000m drill program is to add to the existing 0.2Moz Au (Indicated) plus 0.8Moz Au (Inferred) oxide and transition component of the Project's Mineral Resource to enhance the economics of mine development.

The recently commenced drill program has initially focused on the Obi Prospect, located in the southern part of the Project where drilling is sparse and potential exists to expand the Mineral Resource at shallow depths in oxide material. Drilling Delivers Extensions to Mineral Resource at Obi Prospect: Results are being reported for approximately 700m of aircore ("AC") drilling (15 holes) and 1,000m of reverse-circulation ("RC") drilling (13 holes) which commenced in May 2022 in the south-western part of the Obi Prospect. This area hosts gold mineralisation in multiple flat-dipping lenses which now extend for a strike length of approximately 950m.

The lenses occur near-surface and the area is considered a prime target for exploration to add to the existing 0.2Moz (Indicated) plus 0.8Moz Au (Inferred) oxide and transition component of the Project's Mineral Resource. Mineralisation in the area presents as gold-quartz veins, which is significantly different to the more densely drilled areas of the deposit, illustrating diversity in both the geometry and composition of the gold-bearing lodes. The recent drilling follows-up on previously reported, high-tenor downhole intersections occurring in oxide material which include: 7m @ 11.52g/t Au (ending in mineralisation) from 31m in TAA070 (including 3m @ 25.36g/t Au); 8m @ 4.72g/t Au from 34m in TAA077; 5m @ 7.26g/t Au from 16m in TAA068; 8m @ 4.21g/t Au from 34m in AC3628; 5m @ 5.02g/t Au from 22m in TAA071 (including 2m @ 11.68g/t Au); 6m @ 4.01g/t Au from 36m in AC3665; 17m @ 1.59g/t Au from 34m in TAA080 (including 5m @ 3.45g/t Au); and 12m @ 1.80g/t Au from 10m in AC3627.

Recently returned assay results support the interpreted geometry of the flat, easterly-dipping mineralised lodes and have delivered down-dip and up-dip extensions to mineralisation of up to 100m and 40m respectively. Several new strong downhole intersections in the lower extremity, all occurring in oxide material, include: 12m @ 2.86g/t Au from 39m in TAR022; 10m @ 2.78g/t Au from 38m in TAR003 (including 1m @ 14.8g/t Au); 10m @ 2.07g/t Au from 41m in TAR058; 3m @ 4.57g/t Au (ending in mineralisation) from 39m in TAA152; 4m @ 3.54g/t Au from 65m in TAR006; and 6m @ 2.52g/t Au from 36m in TAR056. Given the shallow position of the mineralisation, these intersections present a compelling target for further down-dip extensions to be tested in future drilling.

This is of particular interest as the flat-dipping mineralisation can be projected to intersect a series of steeply dipping lodes to the east; the confluence of which potentially hosts a localised enrichment zone caused by multiple overprinting phases of gold emplacement. Of note is the significant increase in the vertical depth of the highly weathered oxide zone intersected by drilling to approximately 80m, which is anomalous to that observed in the broader deposit (50m). This increased depth is expected to enhance economics for any contemplated mine development.

The shallow up-dip extent of the mineralisation also remains open, offering a viable exploration target to follow-up of the recently returned downhole intersections of: 14m @ 1.53g/t Au from 11m in TAA153; 11m @ 1.80g/t Au from 23m in TAR004 (including 1m @ 11.15g/t Au); 5m @ 1.48g/t Au from 26m in TAA156; and 4m @ 1.94g/t Au from 5m in TAA145. Adding to the attraction of the area for further exploration is the presence of multiple separate intersections within individual holes and significantly broader intersections than expected in certain areas. These intersections suggest potential for additional mineralised lodes to occur in close proximity to the main, flat-dipping mineralisation.