Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) is pleased to announce further results from the Company’s initial reverse circulation drill program on the Daina Gold Exploration Permit in Guinea, West Africa.

Highlights include:

• 5.48 g/t Au over 15 m¹, including 78.4 g/t Au over 1 m, as well as 3.69 g/t Au over 1 m further downhole (DAI-RC-034-B) at the Daina 2 Main Zone,
• 36.2 g/t Au over 1 m (DAI-RC-021) at the Daina 6 Target,
• 7.95 g/t Au over 1 m (DAI-RC-040) at the Daina 1 Target, and
• 2.74 g/t Au over 1 m (DAI-RC-022) and 2.22 g/t Au over 1 m (DAI-RC-030-A) at the Daina 2 Target

Martin Pawlitschek, President & CEO of Sanu Gold, commented: “In our first drill program in Guinea we have intersected gold mineralization in all three zones tested, an excellent success rate and validation of our program of systematic exploration on our highly prospective landholdings. At our Daina 2 Main Zone discovery, in addition to the previously reported 4.75 g/t Au over 21 m, we have now intersected 5.48 g/t Au over 15 m, demonstrating that the Daina Gold Exploration Permit is a promising project which warrants continued exploration. To this end we plan to restart field work and drilling in early November.”

Program Details

All assay results have been received and released for the 3,675 m drilled in 42 RC holes in the first phase of drill testing at Daina. The objective of the Program was to provide an initial drill test of the subsurface extension of high-grade gold mineralization in rock chip samples below artisanal workings at the Daina 2 and Daina 6 targets, as well as scout testing the well-developed gold in bedrock anomalies from auger drilling at the Daina 1, Daina 2 and Daina 6 targets.

Daina 2 Target, including Daina 2 Main Zone Discovery

Thirty-two RC holes totaling 2,744 m were drilled at the Daina 2 target to provide an initial test along 2 kilometres of the potentially 4 km long mineralized corridor (Figure 1), including 19 holes at the Daina 2 Main Zone discovery. As announced in the Sanu Gold news release dated October 3, 2022, initial drill results from the Program included 4.75 g/t Au over 21 m at the Daina 2 Main Zone. New assay results from this zone reported herein include:

• 5.48 g/t Au over 15 m, including 78.4 g/t Au over 1 m, as well as 3.69 g/t Au over 1 m further downhole (DAI-RC-034-B),
• 0.67 g/t Au over 6 m, including 2.28 g/t over 1 m and 1.28 g/t over 1 m (DAI-RC-014)
• 0.81 g/t Au over 5 m, including 2.09 g/t over 1 m, followed further downhole by 1.21 g/t Au over 2 m (DAI-RC-033), and
• 2.11 g/t Au over 1 m (DAI-RC-032; Table 1).

A total of 5 RC holes were drilled at Daina 2 North, on lines 400 m and 800 m north of the Daina 2 Main Zone. These holes provided an initial test of the northern extension of the mineralized structure. Highlights from Daina 2 North include:

• 2.22 g/t Au over 1 m (DAI-RC-030-A),
• 0.51 g/t Au over 5 m, including 1.43 g/t Au over 1 m (DAI-RC-035), and
• 0.91 g/t Au over 2 m, including 1.42 g/t Au over 1 m (DAI-RC-036).

A total of 8 RC holes were drilled at Daina 2 South, on lines 400 m and 800 m south of the Daina 2 Main Zone. These holes provided an initial test of the southern extension of the mineralized structure. Several of the drill holes intersected gold mineralization hosted within hydrothermally altered and deformed coarse-grained greywacke crosscut by an auriferous quartz vein stockwork associated with disseminated pyrite and arsenopyrite. Highlights from Daina 2 South include:

• 2.74 g/t Au over 1 m (DAI-RC-022),
• 0.54 g/t Au over 6 m, including 1.53 g/t Au over 1 m (DAI-RC-024), and
• 0.76 g/t Au over 7 m, including 1.16 g/t Au over 1 m and 1.04 g/t Au over 1 m (DAI-RC-027).

Extension drilling at Daina 2 North and South was successful in confirming gold mineralization at depth over approximately 2 km of strike length at the Daina 2 Target. Results from initial RC and auger drilling suggests that the gold mineralized system remains open down dip and laterally along strike over a distance of 4 km (Figures 1 and 2). The weathering profile at the Daina 2 target is estimated to be up to 50 m vertical depth and gold mineralization has been intercepted to a maximum vertical depth of approximately 100 m, with gold grade continuity indicated through the thick weathered rock profile.

A 3D interpretation of the mineralized structure using RC and auger drill results indicate a broad zone of gold mineralization hosted in the hanging wall of a major north-northwest-trending, moderately west-dipping, crustal-scale thrust fault zone that cuts a 30 m to 40 m thick coarse-grained greywacke of the Siguiri Birimian sedimentary basin. The geological interpretation of the Daina 2 Target is preliminary and will require follow-up infill drilling to better define the geometry, width, tenor and style of the mineralized structure.

Daina 6 Target

Six RC holes totaling 607 m were drilled at the Daina 6 Target to test the subsurface extension of high-grade gold in rock chip samples from artisanal workings and a well-defined gold in auger bedrock anomaly (Figure 3). Assay results from the Program included 36.2 g/t Au over 1 m in DAI-RC-021 below the main artisanal workings (Figure 3 and Table 2). Gold mineralization is associated with abundant quartz veins and disseminated pyrite and arsenopyrite and is hosted in altered coarse-grained greywacke. A 150 m length of the over 1.5 km long Daina 6 Target gold anomaly and structure was tested in the Program. Additional drilling is planned to further test this mineralized structure.

Daina 1 Target

Four RC holes totaling 324 m were drilled at the Daina 1 Target to test strong north-northwest trending gold in bedrock auger anomalies at Daina 1 North and Daina 1 South. One fence of 2 holes was drilled on the 3 km long structure at Daina 1 North and a second fence of 2 holes was drilled 4.5 km to the south at the 3 km long structure at Daina 1 South to provide an initial test at two locations along a cumulative 6 km long strike extent (Figure 4). Assay results from the RC holes included 7.45 g/t Au over 1 m and 1.01 g/t Au over 1 m in DAI-RC-040 (Figure 4 and Table 3). Several highly prospective areas along the Daina 1 Target remain untested due to field conditions during the wet season. Additional RC drilling is planned along the structure at Daina 1 North and Daina 1 South to continue to evaluate this target area.

Next Steps

The Company is planning to resume field operations in early November. The follow up work will include additional RC testing and possibly geophysical surveys and additional auger infill drilling.

Figure 1: Daina 2 target map showing geological and structural features, drill hole surface plan and highlighted assays results from the RC drilling of the Daina 2 Main Zone, Daina 2 North and Daina 2 South.

Figure 2: Daina 2 Main Zone cross-sections showing geological and structural interpretation, RC drill hole traces and highlighted assays results from RC drill holes.

Figure 3: Daina 6 target map showing geological and structural features, drill hole surface plan and highlighted assays results from the RC drilling.

Figure 4: Daina 1 target map showing geological and structural features, drill hole surface plan and highlighted initial assays results from the RC drilling.

Table 1: Daina 2 Target (including Daina 2 Main Zone) RC drill intercepts.

Notes: The Company does not have sufficient information to make a determination of the true widths of the drill hole intersections reported in this release. Drillhole intercepts are calculated using a minimum downhole length of ≥1 m, a cut-off grade of 0.3 g/t gold, and may include up to 3 m of internal dilution within the intercept. Only intercepts ≥1 m are reported. Sample intervals are comprised of RC drill chips, which are sampled at regular 1 m intervals. Assays are reported uncut. Grid coordinates are UTM WGS84 Zone 29N. NSV = no significant values.

Table 2: Daina 6 Target with RC drill intercepts

Notes: The Company does not have sufficient information to make a determination of the true widths of the drill hole intersections reported in this release. Drillhole intercepts are calculated using a minimum downhole length of ≥1 m, a cut-off grade of 0.3 g/t gold, and may include up to 3 m of internal dilution within the intercept. Only intercepts ≥1 m are reported. Sample intervals are comprised of RC drill chips, which are sampled at regular 1 m intervals. Assays are reported uncut. Grid coordinates are UTM WGS84 Zone 29N. NSV = no significant values.

Table 3: Daina 1 Target with RC drill intercepts

Notes: The Company does not have sufficient information to make a determination of the true widths of the drill hole intersections reported in this release. Drillhole intercepts are calculated using a minimum downhole length of ≥1 m, a cut-off grade of 0.3 g/t gold, and may include up to 3 m of internal dilution within the intercept. Only intercepts ≥1 m are reported. Sample intervals are comprised of RC drill chips, which are sampled at regular 1 m intervals. Assays are reported uncut. Grid coordinates are UTM WGS84 Zone 29N. NSV = no significant values.

Quality Assurance / Quality Control

Sampling was completed following industry best practices, conducted under the supervision of the Company’s project geologists and the chain of custody from the project to the sample preparation facility was continuously monitored. An appropriate number and type of certified reference materials (standards) and blanks totaling 5% of the total number of samples shipped to the laboratory was inserted approximately every 20th sample to ensure an effective QA/QC program was carried out. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results. All samples were analyzed using Fire Assay FAA505 at the SGS Laboratory in Bamako, Mali (“SGS”). SGS is an internationally recognized and commercially certified laboratory and is independent of Sanu Gold.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Serigne Dieng, Ph.D., M.Sc., a Member (MAIG) of the Australian Institute of Geoscientists (AIG), Exploration Manager of the Company and a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sanu Gold

Located within the world class Siguiri Basin, host to several operating mines, Sanu Gold is exploring three high quality gold exploration permits in Guinea, West Africa targeting multi-million ounce gold discoveries. The Company has defined multi-kilometer scale gold bearing structures on each of the gold exploration permits, with multiple high-value drill targets. Sanu is operated by a highly experienced team with successful records of discovery, resource development and mine permitting.