Sihayo Gold Limited announced a maiden Inferred Mineral Resource Estimate for Sihorbo South located on the Hutabargot Julu project of the north block of the PT Sorikmas Mining Contract of Work ("CoW"), North Sumatra Province, Republic of Indonesia. This maiden resource estimate is reported in accordance with the 2012 edition of the JORC Code and guidelines for the reporting of exploration results. Background: The 3.5 km x 3 km Hutabargot Julu project area is a large epithermal vein field with an extensive hydrothermal alteration footprint that is well highlighted by recently reprocessed airborne magnetics imagery.

South Sihorbo is one of multiple gold-silver targets identified within this vein field that are considered by the Company to be under-drilled or had no previous scout drilling (refer to SIH:ASX announcement "Sihayo Exploration Update" dated 25 January 2022). This initial maiden resource announced for Sihorbo South is the first delivered in the greater Hutabargot Julu project area. The mineral resource inventory is expected to grow with additional exploration drilling.

Sihorbo South is a volcanic-hosted intermediate-sulphidation epithermal gold-silver vein system located in the South-West corner of the large Hutabargot Julu project at the southern end of the Sihayo Gold Belt, approximately 6 km southeast of the proposed Sihayo Starter Project site. The Sihorbo South vein outcrops were discovered by the Dutch in the 1930s. A short adit located on the northern part of the vein system was excavated by the Dutch but there is no recorded gold production and it is thought to be an exploration tunnel.

The prospect area has been an active artisanal gold mining site for over the past 10 years. Sihorbo South was a focus of exploration and drilling activities by PT Sorikmas Mining in the early 2010s. From 2010 to 2013 PT Sorikmas Mining explored and drilled 13 holes for 1,416 metres at Sihorbo South before exploration activities were shut-down on the project due to social disturbances at the nearby Sihayo-1 and Sambung prospects.

This historic scout drilling completed at Sihorbo South returned encouraging historic gold-silver intercepts including 3.7 m at 15.45 g/t Au and 23 g/t Ag from 55.4 m in HUTDD040, and 16.8 m at 1.43 g/t Au and 237 g/t Ag from 46.95 m in HUTDD045. The Company resumed exploration on the CoW in late 2019 and commenced drilling at Sihorbo South in September 2021. A total of 30 diamond drill holes for 5,216 m was completed by the end of the first phase of drilling in April 2022.

Resource Estimate: The Maiden Inferred Mineral Resource Estimate for the Sihorbo South gold-silver deposit was undertaken by an independent geological consultant from Spiers Geological Consultants P/L of Melbourne and is based on historical drilling and new drill holes completed in 2021-22. The summary of the Inferred Mineral Resource at 0.3 g/t, 0.7 g/t and 0.9 g/t gold-equivalent cut-off grades are presented in Table 1 below. The Sihorbo South Mineral Resource Estimate is based on factors and assumptions presented in Appendix 1 2012 JORC Table ­ Sections 1-3. The following summary notes are relevant to this maiden Inferred Mineral Resource Estimate: Geological and mineralisation wireframe models were generated on cross-sectional and plan interpretations based on available geology and assay data; Block modelling was conducted using parent blocks with dimensions of 12.5 m (East) by 12.5 m (North) by 0.5 m (RL) and was coded to represent mineralised zones within the vein system and related alteration envelope; Drilling density was generally considered to be irregular on approximately 50- to 100-m spaced E-W lines along a 400 m strike-length segment of the vein system; Depletion by local artisanal mining was modelled as shaft and tunnel solids, which were subsequently removed from the resource reporting; The models have been estimated by Ordinary Kriging using industry standard software.