Sihayo Gold Limited announce the latest results of the current drilling program at the Company's Sihayo Starter Project (the "Project") in North Sumatra, Republic of Indonesia. The results in this announcement are from the second stage of a drilling program targeting extensions to known deeper high-grade gold mineralisation located below the planned Sihayo pit. Drilling in progress at Sihayo is a follow-up program on encouraging gold intercepts previously reported from the Stage 1 drilling program in 2022 and the recently announced early gold intercepts reported from the Stage 2 drilling program. Both programs test for extensions to deeper high-grade gold mineralisation located beneath the southern end of the planned starter pit on the Sihayo resource. Some of these deeper zones extend beyond the 2022 Mineral Resource estimate for Sihayo. The holes from the most recent drilling program are located on the southern end of the proposed Sihayo pit shell. A total of fourteen holes for 4,736 m has been completed in the follow-up drilling program using two man-portable diamond drill rigs. Drilling commenced in late November 2022 and continues with a further four holes for around 1,500m remaining to be drilled in the current program. This program is expected to be completed in the second quarter of CY2023. Assay results have been received for a further three drill holes (SHDD651, SHDD652, and SHDD653). Thick high-grade gold intercepts in jasperoid mineralisation were returned in two holes, SHDD651 and SHDD653. These are located well below the planned pit shell. These latest exceptional gold-intercepts support the presence of high-grade feeders within the
mineralised system. High-grade gold occurs in sulphidic jasperoid breccias replacing ancient karst cave-fill sediments. Although the geometry of the highest-grade zones is yet to be defined by the current density of drilling, the enclosing mineralisation extends for at least 200-
250m down-dip of the known gold resource and remains open to the south-east of and potentially deeper beneath the planned Sihayo starter pit. There is insufficient or no past drilling in this area. Additional drilling may indicate the presence of other exceptional high-grade feeders beneath the Sihayo deposit. Updated modelling of the extended gold resource has commenced and is expected to be completed in Q2-CY2023.