Mr. Martin Pawlitschek reports

SANU GOLD ANNOUNCES START OF DRILLING AT THE BANTABAYE PROJECT, WEST AFRICA: INITIAL HOLES TO EXPAND KNOWN HIGH-GRADE ZONE

Sanu Gold Corp. has begun drilling at the company's flagship Bantabaye project, located on the prolific western margin of the Siguiri basin of Guinea, West Africa. A reverse circulation (RC) rig is currently operational with a fully financed initial 3,500 metres of drilling under way, with 35 holes planned.

Highlights:

• Drilling has commenced: Three holes have been completed at Target 2 in the vicinity of hole BANT-RC-002, which intersected 11.5 grams per tonne (g/t) gold (Au) over 15 metres (please refer to the company's May 17, 2023, news release).
• Extensive drilling planned: The company has planned an initial 3,500 m of RC drilling in approximately 35 holes to both define footprints of gold mineralization and to test at depth of Target 2.
• Initial focus on Target 2: The first 35 holes are planned to both immediately and aggressively step out from BANT-RC-002 across an initial strike length of 500 m and down-dip extent of 150 m thus outlining potential for mineral resources. Drill pads for more aggressive 100 m stepouts along the 1,100 m strike length of the target are being planned.
• Additional drilling planned: The company is fully financed for an additional 4,500 m of RC drilling at Bantabaye, where there are extensive gold zones present at surface requiring follow-up, and specific targets and drill plans are currently being finalized. Additional priority targets under evaluation for drill testing are targets 1, 3, 7 and 8.

Martin Pawlitschek, president and chief executive officer of Sanu Gold, commented:

"We are thrilled to be back at Bantabaye following up on last year's outstanding drill results from the discovery at Target 2. The initial phase of drilling will aim to confirm the gold-mineralized structure defined by mapping and geophysics along a 500 m strike length centred on last year's holes, with a program of systematic RC drilling testing the shallower portions of the zone up to 150 m down dip. After this initial phase at Target 2, the rig will complete further drill testing on selected other key targets. The recent PDIP geophysics is currently being integrated into the final hole planning and prioritization at targets 1, 3 and 7."

Program summary

The phase 1 drilling program at Target 2 consists of 35 planned holes for an estimated total of 3,500 m. Final hole length will be determined by the geology encountered down hole. The initial nine holes will consist of close stepouts and infill on last year's drill lines. Previous drilling at Target 2 was limited to two north-northeast (030 degrees)-oriented drill lines with three holes each, testing the mineralization to a vertical depth of only 75 m.

The remainder of the holes are planned on a 50 m by 50 m grid stepping out along both strike directions from last year's intercepts and covering a total of 500 m of strike length, and testing the upper 150 m of the structure. Phase 1 has been prioritized to test this 500 m zone, which is traceable in exposure created by artisanal activity, well-developed surface gold anomaly and has a coincident expression in the recently completed geophysics. The down hole logging of each RC hole will serve to confirm or refine the current model and, if warranted, modify or reprioritize the phase 1 drill holes.

Beyond this 500 m zone the structure is covered by a thick laterite plateau, where it can be traced by the gradient array IP (induced polarization) geophysics and in some places coincident surface gold geochemistry. Additional stepout drilling over the remainder of the 1,100 m strike length at Target 2 is being considered. Deeper testing of Target 2 will likely require the use of a diamond drill rig.

The company has integrated the recent geophysics, 2023 drilling and surface data into the structural model. Similar work is in progress for the other targets and will be announced as soon as practicable.

Next step

The phase 1 drilling program will be completed but may be adjusted on the basis of observed geology and early assay results. Samples of the initial six holes are due for dispatch to the assay laboratory within the week.

The company and its contractors and consultants continue to process and update its geological models, plan target testing on the other targets, and continue with drill pad access preparations. These will be announced as soon as final versions are available.

Quality assurance/quality control (QA/QC)

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 totalling 5 per cent of the total number of samples shipped to the laboratory were 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 is an internationally recognized and commercially certified laboratory, and is independent of Sanu Gold. The company is being advised on the IP survey by in3D Geoscience Inc., an independent geophysical consulting firm based in British Columbia. The data collection survey is subject to standard contractors' protocols, including:

• Daily checking of equipment;
• Signal/noise ratio monitoring;
• Checking of extreme readings;
• Verification of equipment locations;
• Monitoring of measurement cycles;
• Data are checked at the end of each day by a team at the Sagax head office.

Sanu's geophysicists and Sagax regularly review and discuss the progress of the work, program adjustments, data quality and modelling parameters.

Qualified person

The scientific and technical information contained in this press release has been reviewed and approved by Serigne Dieng, PhD, MSc, 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.

The technical information with respect to the geophysical data contained in this press release has been reviewed and approved by Todd Ballantyne, PGeo, a member of Engineers and Geoscientists of British Columbia (EGBC), independent geophysical consultant (through in3D Geoscience) to the company, and a qualified person within the meaning of NI 43-101.

About Sanu Gold Corp.

Located within the world-class Siguiri basin, host to several operating mines, Sanu is exploring three high-quality gold exploration permits in Guinea, West Africa, targeting multimillion-ounce gold discoveries. The company has defined multikilometre-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.

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