SANU.CN · 2023-06-05 12:00:00

Sanu Gold Continues to Intersect Gold Mineralization at Multiple Targets on the Bantabaye Permit in Guinea, West Africa

Drill Results

Sanu Gold Continues to Intersect Gold

Mineralization at Multiple Targets on the

Bantabaye Permit in Guinea, West Africa

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2023) -

Sanu Gold Corporation (CSE: SANU)

(OTCQB: SNGCF)

("Sanu Gold" or the "Company") is pleased to announce additional gold intercepts

from multiple target areas on the Bantabaye gold exploration permit ("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 kilometres ("km") 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

("RC") 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)

0.90 g/t Au over 17 m

at Target 2 (BANT-RC-006), and

0.87 g/t Au over 13 m,

as well as

3.47 g/t Au over 1 m

further downhole at Target 7 (BANT-RC-

022).

Martin Pawlitschek, President and CEO, commented: "It is extremely positive to see that we have

intersected significant zones of gold mineralization on three main targets at Bantabaye. Gold

mineralization at these targets occurs along a 6 kilometre long segment of the Bantabaye Thrust Fault,

interpreted to be a key feature in this large, structurally hosted gold-bearing system. Importantly, we are

also seeing similarities between gold mineralization at Bantabaye and other recent discoveries in the

Siguiri Basin."

"These targets are now confirmed as hosting significant widths and grades of gold mineralization. They

are open in all directions and will require systematic follow-up drilling," continued Mr. Pawlitschek.

Program Details

The inaugural RC drill program at Bantabaye 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 1 m and 5.0 g/t Au over 1 m

in BANT-RC-003.

Target 2

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 samples collected from

artisanal workings (Figures 1 and 2 and Table 1). 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 (see Sanu News Release dated May 17, 2023, Table 1, Figure 2:

Section 1).

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 (Table 1, Figure 2: Section 2).

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 (Figures 3 and 4). 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 (Table 1, Figures 3 and 4). The remaining five holes appear to have been collared too far north to

test the mineralized structure.

Figure 1: Bantabaye North maps showing Target 2 RC drill holes.

To view an enhanced version of Figure 1, please visit:

https://images.newsfilecorp.com/files/8941/168574_ad49b51e94fb2b5e_001full.jpg

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.

Figure 2: Target 2 cross-sections 1 and 2, showing geology and structural interpretation, location of

artisanal workings, RC drill hole traces and highlighted assays results from RC drill holes BANT-RC-

001 to -006).

To view an enhanced version of Figure 2, please visit:

https://images.newsfilecorp.com/files/8941/168574_ad49b51e94fb2b5e_002full.jpg

Figure 3: Bantabaye North maps showing Target 3 RC drill holes.

To view an enhanced version of Figure 3, please visit:

https://images.newsfilecorp.com/files/8941/168574_ad49b51e94fb2b5e_003full.jpg

Figure 4: Target 3 cross-section showing geology and structural interpretation, location of artisanal

workings, RC drill hole traces and highlighted assays results from RC drill holes BANT-RC-007 to -

009.

To view an enhanced version of Figure 4, please visit:

https://images.newsfilecorp.com/files/8941/168574_ad49b51e94fb2b5e_004full.jpg

Figure 5: Bantabaye North maps showing Target 7 RC drill holes.

To view an enhanced version of Figure 5, please visit:

https://images.newsfilecorp.com/files/8941/168574_ad49b51e94fb2b5e_005full.jpg

Figure 6: Bantabaye North maps showing Target 7 RC drill holes and gold intercepts.

To view an enhanced version of Figure 6, please visit:

https://images.newsfilecorp.com/files/8941/168574_ad49b51e94fb2b5e_006full.jpg

Table 1: Bantabaye Target 2, 3, 4 and 7 RC drill hole drill intercepts.

Hole ID

X-UTM

Y-UTM

Intercept

Interval

From

Target

Length

Azimuth

Dip

(m)

(

)

(

)

(g/t Au)

(m)

BANT-RC-001

358,08

1,253,118

-60

0.8

Target 2

including

1.4

1.3

BANT-RC-002

358,068

1,253,066

-60

11.4

Target 2

including

41.2

including

114

0.5

including

1.6

BANT-RC-003

358,039

1,253,018

150

-60

2.0

Target 2

including

6.8

5.0

0.7

104

BANT-RC-004

358 039

1 253 018

150

030

-60

NSV

Target 2

BANT-RC-005

358 018

1 253 099

100

030

-60

0.7

Target 2

including

1.26

BANT-RC-006

357 988

1 253 048

150

030

-60

0.56

Target 2

0.90

including

2.57

2.78

BANT-RC-007

358 972

1 253 256

105

010

-60

NSV

Target 3

BANT-RC-008

358 970

1 253 211

106

010

-60

NSV

Target 3

BANT-RC-009

358 970

1 253 211

106

010

-60

1.44

Target 3

including

5.10

4.90

BANT-RC-010

359 024

1 253 244

106

010

-60

NSV

Target 3

BANT-RC-011

359 015

1 253 192

116

010

-60

NSV

Target 3

BANT-RC-012

359 013

1 253 141

165

010

-60

NSV

Target 3

BANT-RC-020

359 874

1 253 165

100

300

-55

0.30

Target 4

BANT-RC-013

359 270

1 253 165

110

300

-55

NSV

Target 7

BANT-RC-014

359 316

1 253 132

131

300

-55

NSV

Target 7

BANT-RC-015

359 196

1 253 092

105

300

-55

0.55

Target 7

including

1.20

BANT-RC-016

359 236

1 253 067

100

300

-55

NSV

Target 7

BANT-RC-017

359 284

1 253 044

101

300

-55

0.73

Target 7

1.3

BANT-RC-018

359 300

1 252 979

106

300

-55

0.52

Target 7

0.42

BANT-RC-019

359 348

1 252 957

105

300

-55

NSV

Target 7

BANT-RC-021

359 355

1 253 093

171

300

-55

NSV

Target 7

BANT-RC-022

359 376

1 252 899

300

-55

0.87

Target 7

including

1.65

3.47

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. Results for holes BANT-RC-001

to BANT-RC-003 previously released (see Sanu Gold news release dated May 17, 2023).

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

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 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. Samples from Target

2 were analyzed using ''Fire Assay FA450'' at the Bureau Veritas Mineral Laboratories in Bamako, Mali

("BVML"). BVML is an internationally recognized and commercially certified laboratory and is

independent of Sanu Gold. Samples From Targets 3, 4 and 7 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 Guinea's Siguiri Basin, a world class gold district that is host to several operating mines

and major new discoveries, Sanu Gold is exploring three high quality gold exploration permits. The

Company is targeting multi-million ounce gold deposits and has discovered high grade gold

mineralization in the inaugural drill programs at both Bantabaye and Daina. Sanu is operated by a highly

experienced team, with successful records of discovery, resource development and mine permitting in

West Africa.

Martin Pawlitschek

President & CEO, Sanu Gold Corp.

For further information regarding Sanu Gold, please visit the Company's website at

www.sanugoldcorp.com

or contact:

Fiona Childe, Ph.D. P.Geo

VP, Corporate Development & Communications

Sanu Gold Corp.

+1 647-473-7268

[email protected]

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts

responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking statements" with

respect to the Company within the meaning of applicable securities laws. Forward-looking statements

are statements that are not historical facts and are generally, but not always, identified by the words

"expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates",

"opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may",

"could" or "should" occur. Although Sanu Gold believes the expectations expressed in such forward-

looking statements are based on reasonable assumptions, such statements are not guarantees of future

performance, are subject to risks and uncertainties, and actual results or realities may differ materially

from those in the forward-looking statements. Such material risks and uncertainties include, but are not

limited to, the Company's plans for exploration on its properties and ability to execute on plans, ability to

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