Sanu Gold Corporation announced additional gold intercepts from multiple target areas on the Bantabaye gold exploration permit in Guinea, West Africa. The Permit, which lies on the western margin of Guinea's prolific Siguiri Basin, is located approximately 50 kilometres south of the multi-million once Lefa Gold Mine and 80 km north of the multi-million ounce Bankan Gold Project. The Company has received the results from a further 19 drill holes from its inaugural reverse circulation drill program at Bantabaye, targeting extensive and continuous zones of gold in bedrock anomalies.

Highlights include: 1.44 g/t Au over 13 m at Target 3 (BANT-RC-009), and 0.90 g/t Au over 17 m at Target 2 (BANT-RC-006), and 0.87 g/t Au over 13m, as well as 3.47 g/t Au over 1 m further downhole at Target 7 (BANT-RC-022). The inaugural RC drill program at Bantabay commenced in early April, 2023. To date, the Company has drilled 2,475 m in 22 RC holes on Targets 2, 3, 4 and 7. This program was designed to provide an initial drill test below high grade gold in rock chip samples from artisanal working pits at high-priority targets.

As reported in the Sanu Gold news release dated May 17, 2023, results from the first three holes of the program from Target 2 included: 11.4 g/t Au over 15 m, including 41.2 g/t Au over 4 m in BANT-RC-002, and 2.0 g/t Au over 12 m, including 6.8 g/t Au over 1m and 5.0 g/t Au Over 1 m in BANT-RC -003. A total of 626 m in six RC holes has been completed to date on two 50 m spaced lines at Target 2, with the objective of testing the downdip extension of high grade gold in rock chip sample collected from artisanal workings. Gold mineralization at this target is associated with a strongly silicified and hydrothermally altered felsic intrusive at the sheared contact with a foliated mafic unit.

The altered felsic intrusive contains quartz vein stockwork and breccia and pervasive disseminated pyrite and arsenopyrite. Key alteration associated with the gold mineralization is silicification and associated disseminated pyrite and arsenopyrite. Gold mineralization at Target 2 is hosted in oxidized rock at surface and in near-surface intercepts, and in unoxidized rock in the deeper holes drilled to date.

Oxidation extends to a vertical depth of approximately 25 m in this area of the Permit. Drilling has delineated a gold mineralized structure at Target 2, with assays from the first three RC holes on the eastern line returning high-grade gold intercepts of 11.4 g/t Au over 15 m in BANT-RC-002 and 2.0 g/t Au over 12 m in BANT-RC-003. Both the felsic intrusive and mafic unit, as well as the higher grade mineralization below the sheared felsic intrusive contact, are extensively mined by artisanal workers.

On the western line targeted by RC holes BANT-RC-005 and BANT-RC-006 the higher grade gold mineralization appears to have been mined out, with assays reported herein of 0.90 g/t Au over 17 m, including 2.57 g/t Au over 2 m and 2.78 g/t Au over 1 m in BANT-RC-006. Interpretation of the geology, alteration, structure and mineralization at Target 2 demonstrates that the mineralized structure strikes east-southeast and dips moderately to the south-southwest. The mineralization is open down dip and in both directions along strike.

Additional drilling is planned to continue to test size and tenor of this new discovery. Target 3: A total of 749 m in six RC holes has been completed to date at Target 3 to test the shallowly south dipping, east-southeast striking Bantabaye Thrust Fault along a 300 m long by 150 m wide zone of artisanal workings. Gold mineralization is associated with a strongly silicified and hydrothermally altered felsic intrusive at the sheared contact between the volcaniclastic sequence on the footwall side of the Bantabaye Thrust Fault and the sedimentary unit in the hanging wall.

Geological and structural interpretations from field mapping demonstrate that the shear zone that controls the gold mineralization strikes northwest and is shallowly southeast dipping. Gold mineralization is associated with quartz vein stockwork and breccia, as well as boxwork after sulfide within the felsic rock. Drilling revealed that Target 3 is situated within an area of deep oxidation, with saprolite extending up to 150 m vertical depth, suggesting intensive deep fracturing and hydrothermal alteration during deformation, following by deep weathering of the rocks.

Interpretation of the geological cross section and structural measurements from field mapping indicates that gold mineralization is open along strike toward the northeast. Drill hole BANT-RC-009 returned 1.44 g/t Au over 13 m, including 5.10 g/t Au over 1 m and 4.91 g/t over 1 m. The remaining five holes appear to have been collared too far north to test the mineralized structure. Target 7: Three fences of three holes each were drilled at Target 7, for a total of 1,000 m in nine RC holes to test high grade gold in rock chip samples from artisanal workings over a 400 m long by 150 m wide area associated with strong gold in termite mound anomalies.

Highlights from initial Target 7 drilling include: 0.87 g/t Au over 13 m, including 1.65 g/t over 3 m and further downhole 3.47 g/t Au over 13 m in BANT-RC-022, 0.55 g/t Au over 13 m, including. 1.2 g/t Au over 1 m in BANT-RC-015, 0.52 g/t Au over 13 m and further downhole 0.42 g/t Au over 4 m in BANT-RC-018, and 0.73 g/t Au over 4 m, and further downhole 1.03 g/t Au over 6 m in BANT-RC-017. Initial drill holes targeted the north-northeast trend observed from the extensive gold in termite mound anomalies at Target 7 supported by north-northeast trending lines of artisanal shafts and some structural measurements.

Updated detailed geological and structural mapping of outcrops and artisanal workings and results from the RC drilling demonstrate that the gold mineralization is associated with northeast striking and shallowly southwest dipping felsic intrusive rock that extends for over 500 m along strike and 150 m in width. At surface, the felsic intrusive is extensively altered and sheared with local stockwork of quartz veinlets, breccia development and boxwork after sulphide minerals. These zones of strong alteration are extensively mined by artisanal miners and deeply weathered to at least 100 m. Target 4: One RC hole with a length of 100 m has been drilled at Target 4 to begin to test a strong gold in termite mound anomaly along the Bantabaye Thrust Fault.

RC drill hole BANT-RC-020 returned 0.3 g/t Au over 1 m.