Sanu Gold Announces New Drilling Results from its Bantabaye Permit

Sanu Gold Announces New Drilling Results

from its Bantabaye Permit

Vancouver, British Columbia--(Newsfile Corp. - July 10, 2024) -

Sanu Gold Corporation (CSE: SANU)

(OTCQB: SNGCF)

("Sanu Gold" or the "Company") is pleased to announce new drilling results from its

Bantabaye project ("Bantabaye" or the "Permit") in Guinea, West Africa. The Permit, which lies on the

western margin of Guinea's prolific Siguiri Basin, is located approximately 50 km

1

south of the multi-

million once Lefa Gold Mine and 80 km north of the multi-million-ounce Bankan Gold Project

2

.

Highlights:

Significant Gold intercepts obtained including:

14 m of 1.94 g/t Au including 1m of 29.89 g/t Au in BANT-RC--048

14 m of 1.50 g/t Au in BANT--RC--031

3m of 9.86 g/t Au including 1m of 26.35 g/t Au in BANT--RC--036

12 m of 1.00 g/t Au in BANT--RC--033

11 m of 1.20 g/t Au in BANT--RC--035

A total of 6,060m in 47 RC drill holes completed across four targets.

At Target 2, the felsic rock hosting the gold mineralization has been intercepted over 500 m strike

length and to a vertical depth of up to 120m.

Target 2 gold mineralization is open both downdip and laterally to the east and west of the drilled

area.

New high-priority targets are being developed at Daina and Diguifara to be drill tested in H2 of

2024.

Martin Pawlitschek, President and CEO commented: "Drilling at Bantabaye confirmed that the

mineralization at Target 2 is consistent along at least 500m of strike, where it remains open laterally and

down dip. With the wet season now underway the Company will focus on testing highly prospective new

targets at its Daina and Diguifara projects, which are more accessible during this time.

The results and

data obtained from the drilling at Bantabaye will be evaluated and interpreted for further follow-up work."

Program details

Target 2

A total of 3,330m was drilled in 29 RC holes on eight 50m spaced lines at Target 2 (Figures 1 to 3,

Table 1), with the objective of testing the downdip and lateral extension of high-grade gold mineralization

intercepted in previous drill holes including 15m of 11.4 g/t Au in BANT-RC-002 (See Sanu Gold news

release dated May 17, 2023).

Drilling has delineated an east-west trending moderately south dipping gold mineralized structure at

Target 2. Highlights from the new drilling results include:

BANT-RC-048:

14 m of 1.94 g/t Au from 18 m including 1 m of 29.89 g/t Au from 29 m

BANT-RC-031:

14 m of 1.5 g/t Au from 74 m including 1 m of 8.12 g/t Au from 74 m

BANT-RC-033:

12 m of 1.00 g/t Au from 20 m

BANT-RC-035:

11 m of 1.20 g/t Au from 52 m

BANT-RC-036:

3m of 9,86 g/t Au from 105m

BANT-RC-037:

9 m of 1.02 g/t Au from 99 m

BANT-RC-039:

31 m of 0.61 g/t Au from 82 m

BANT-RC-050:

8 m of 1.35 g/t Au from 56 m including 1 m of 9.05 g/t Au from 63 m

BANT-RC-036:

3 m of 9.86 g/t Au from 105 m including 1 m of 26.35 g/t Au from 105 m

BANT-RC-034:

2 m of 7.11 g/t Au from 29 m Including 1 m of 13.12 g/t Au from 30 m

BANT-RC-052:

1 m of 25.19 g/t Au from 103 m

The gold mineralization at Target 2 is controlled by the east-west striking and moderately south dipping

Bantabaye Thrust Fault (Figures 1, and 3) and entirely hosted withing a felsic unit. This fault can be

traced over 6 km of strike length. The hanging wall of the fault is occupied by a volcaniclastic sequence

and the footwall sedimentary unit. A deformed and altered felsic and mafic unit with a well-developed

shear fabric occupy the fault zone between the volcaniclastic sequence and the sedimentary unit.

Interpretation of the geological and structural data, with the gold mineralization intercepted in the RC

drilling, suggest that the gold mineralization at Target 2 is associated with the strongly silicified and

hydrothermally altered felsic intrusive at the sheared contact with a foliated mafic unit. The altered felsic

intrusive is deformed by the Bantabaye Thrust Fault and contains quartz vein stockworks and breccias,

along with pervasive disseminated pyrite and arsenopyrite. The felsic intrusive rock is the main host of

the gold mineralization (Figures 2 and 3). Key alteration associated with the mineralization consists of

silicification and associated pyrite and arsenopyrite. Drilling shows that oxidation extends to a vertical

depth of approximately 25m.

Both the felsic intrusive and mafic unit, as well as the higher-grade mineralization below the sheared

felsic intrusive contact, have been extensively mined by artisanal workers, with free gold recovered from

both oxidized and unoxidized rocks. The IP survey completed prior to drilling traces this structure from

Target 1 in the west to Target 2, 3,7 and Target 8 in the east, a distance of over 4km.

The drilling program has traced the gold mineralization at Target 2 for at least 500m (Figures 1 and 2)

where previous intercepts included 15m of 11.4 g/t Au in BANT-RC-002 (See Sanu Gold news release

dated May 17, 2023). Results demonstrate that the gold mineralization is open to the east and the west

and can be traced from the resistivity/ chargeability anomaly for over 1.2 km (Figures 3 and 4). This

mineralization is also open downdip.

Figure 1:

Bantabaye 2024 Drill collars, 2023 Drill Collars, surface gold anomalies, interpreted structures

and artisanal gold workings over IP chargeability map.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8941/216016_b5b18737c48dda05_002full.jpg

Figure 2:

Target 2 drill collars, traces, key intercepts and geology interpreted from drilling and projected

to surface.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8941/216016_b5b18737c48dda05_003full.jpg

Figure 3:

Bantabaye Target 2 cross section A-A' showing geological and structural features, RC drill

hole traces and gold mineralization.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8941/216016_b5b18737c48dda05_004full.jpg

Figure 4: Bantabaye Target 2 cross section B-B' showing geological and structural features,

RC drill

hole traces and gold mineralization.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/8941/216016_b5b18737c48dda05_005full.jpg

Target 7

A total of 2530m in sixteen RC holes have been drilled at Target 7. The program tested an 800m strike

segment of the Bantabaye Thrust at Targets 3 and 7, as traced by the IP responses and surface

geochemistry. Immediately to the north of the structure recent trenching returned results of 80m of 1.46

g/t Au, including 7m of 4.1 g/t Au and 3m of 8.43 g/t Au in Trench BANT-TR05 (see Sanu March 07,

2024 News Release) from a south dipping felsic unit, adjacent to a large artisanal mining area.

The RC drill holes intercepted the same structure and lithology as the drilling at Target 2, but the mafic

unit was absent. The hanging wall is occupied by the volcaniclastic unit that overlies a felsic unit which in

turn locally alternates with meter-thick layers of the sedimentary unit. The footwall rock is composed of

the sedimentary unit. The felsic intrusive at this location shows weaker deformation and hydrothermal

alteration compared to the felsic intrusive that hosts the gold mineralization at Target 2. Pyrite is locally

present and arsenopyrite is typically absent. At Target 2 arsenopyrite shows a strong correlation with the

gold mineralization.

A review and re-interpretation of the available data and latest drilling is underway by the Company's

geologists to evaluate the next steps at Targets 3 and 7.

Target 1

A total of 100m in one RC hole was drilled at Target 1 to test an east-west trending resistivity/

chargeability anomaly obtained from the IP geophysical survey. This anomaly is interpreted as the

western extension of the gold structure intercepted at Target 2. The single hole completed at Target 1

returned no significant values. The felsic intrusive was not intercepted. This target is under review for

future follow-up.

Target 8

A total of 100m in one RC hole was drilled at Target 8 to test an east-west trending resistivity/

chargeability anomaly obtained from the IP geophysical survey and large gold anomaly in an auger hole

previously drilled by the Company. This anomaly is interpreted as the eastern extension of the gold

structure intercepted at Target 7. The single hole completed at Target 8 returned no significant values.

The felsic intrusive was not intercepted. This target is under review for future follow-up.

Discussion and Next Steps

Bantabaye - Evaluation of drill results

The 2024 drill program at Bantabaye Target 2 returned encouraging gold grades and widths along the

tested strike length and depths. The gold mineralization is hosted within a sheared felsic unit that has

been intercepted along a strike of over 500m and is open laterally and downdip. Additional step out

drilling is required to fully evaluate the mineralized structure. The Company will interpret and assess the

drill results over the wet season to determine a follow up program at Bantabaye for H1 2025 when the

site will be easily accessible again for heavy machinery and drill rigs.

Daina and Diguifara - Extension of IP program and Air Core programs planned for H2 2024

The Company is planning additional IP geophysics at untested targets at Daina and Diguifara from late

September onwards, when the wet season is coming to an end, prior to potential drill testing.

Focus will

be on initial testing at its untested targets on Daina and Diguifara as well as follow up drilling on potential

extensions to previously discovered mineralization at Daina.

Table 1: Bantabaye 2024 RC drill hole drill intercepts (Targets 2).

RESULTS OF THE 2024 DRILLING PROGRAM AT BANTABAYE

Hole ID

X-UTM

Y-UTM

Length

Azimuth

Dip

Intercept

Interval

From

Area

(m)

(

o

)

(

o

)

(g/t Au)

(m)

(m)

BANT-RC-029

357 999

1 253 075

100

030

-60

0.3

5

24

Target 2

0.5

14

39

including

1

3

48

BANT-RC-030

358 026

1 253 062

100

030

-60

0.38

1

38

Target 2

0.33

22

46

BANT-RC-031

358 049

1 253 041

102

030

-60

1.56

3

66

Target 2

1.5

14

74

including

8.12

1

74

and

2.5

2

85

BANT-RC-032

357 985

1 253 111

60

360

-60

0.37

1

3

Target 2

0.95

5

17

including

2.86

1

17

BANT-RC-033

358 059

1 253 100

60

030

-60

1

12

20

Target 2

including

3.98

1

23

0.63

5

38

including

1.13

2

38

BANT-RC-034

358 117

1 253 109

70

360

-60

0.34

24

0

Target 2

including

1.2

2

22

7.11

2

29

including

13.12

1

30

BANT-RC-035

358 124

1 253 060

108

360

-60

0.37

1

32

0.6

3

38

including

1.06

1

38

Target 2

1.2

11

52

including

2.89

4

53

1.22

2

78

BANT-RC-036

358 120

1 253 010

150

360

-60

0.44

1

79

Target 2

0.23

4

85

0.82

3

98

including

1

1

98

9.86

3

105

including

26.35

1

105

BANT-RC-037

358 060

1 252 990

150

360

-60

1.02

9

99

Target 2

including

2.89

1

106

0.33

1

114

0.31

7

119

BANT-RC-038

358 010

1 252 976

194

030

-60

0.71

1

114

Target 2

0.57

5

119

including

1.33

1

122

0.36

1

136

0.78

6

119

including

2.15

1

122

BANT-RC-039

357 995

1 253 014

150

030

-60

0.37

6

72

Target 2

0.61

31

82

1.51

4

85

BANT-RC-040

357 988

1 253 011

150

360

-60

1.15

1

79

Target 2

including

1.17

4

95

3.55

1

97

1

5

103

BANT-RC-041

357 966

1 253 007

150

30

-60

0.51

6

78

Target 2

including

1.01

1

78

0.33

2

90

0.92

4

99

including

2.32

1

100

0.54

10

107

including

1.15

1

109

BANT-RC-042

357 989

1 253 066

108

360

-60

0.57

8

26

Target 2

including

1.1

2

30

0.82

3

49

including

1.18

1

50

0.67

4

57

including

1.13

1

57

BANT-RC-043

357 935

1 253 122

060

360

-60

0.92

1

10

Target 2

BANT-RC-044

357 943

1 253 069

090

360

-60

0.69

3

44

Target 2

0.67

3

51

BANT-RC-045

357 938

1 253 022

138

360

-60

0.33

1

81

Target 2

0.57

1

85

0.74

1

89

0.44

3

94

BANT-RC-046

357 895

1 253 023

132

360

-60

0.42

1

83

Target 2

0.73

6

89

2.63

1

94

BANT-RC-047

357 887

1 253 076

090

360

-60

0.75

2

52

Target 2

1.12

1

53

BANT-RC-048

357 887

1 253 126

076

360

-60

1.94

14

18

Target 2

including

29.89

1

29

BANT-RC-049

357 840

1 253 127

084

360

-60

0.25

8

3

Target 2

0.53

1

20

1.1

6

27

BANT-RC-050

357 840

1 253 074

114

360

-60

0.48

1

41

Target 2

1.35

8

56

including

9.05

1

63

BANT-RC-051

357 835

1 253 021

186

360

-60

0.41

1

41

Target 2

1.14

6

95

including

5.2

1

99

BANT-RC-052

358 170

1 253 018

170

360

-60

0.41

1

64

Target 2

0.33

1

76

25.19

1

103

BANT-RC-053

358 170

1 253 067

114

360

-60

0.59

1

24

Target 2

0.62

3

59

BANT-RC-054

358 170

1 253 116

070

360

-60

0.37

1

20

Target 2

BANT-RC-055

358 220

1 253 077

114

360

-60

1.52

5

57

Target 2

including

6.12

1

61

BANT-RC-056

358 220

1 253 127

070

360

-60

0.33

1

13

Target 2

BANT-RC-057

358 220

1 253 028

170

360

-60

NS

Target 2