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Sarama Requests Trading Halt Pending Clarification of Exploration Permit

Permits & Approvals Listings & Exchange

August 31, 2023

SARAMA REQUESTS TRADING HALT PENDING

CLARIFICATION OF EXPLORATION PERMIT

PERTH, AUSTRALIA / VANCOUVER, CANADA. Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR,

TSX-V:SWA) announced today that it has requested the securities of the Company be placed in an immediate

trading halt on both the TSX Venture Exchange (“TSXV”) and the Australian Securities Exchange (“ASX”), while it

seeks clarity concerning correspondence received from the government of Burkina Faso concerning the status of

the Tankoro 2 Exploration Permit. The trading halt is requested due to delays related to multiple time zones

which affect the Company’s ability to speak with required personnel.

The Company expects that the Company’s securities will be placed in a trading halt on the ASX until the earlier of

the opening of trading in Australia on Tuesday, September 5, 2023, or the earlier release of an announcement in

relation to this correspondence.

The trading halt request, once granted by the ASX, is expected to be available here:

https://www.asx.com.au/markets/company/srr

-Ends-

For further information, please contact:

Company Activities

Andrew Dinning

Sarama Resources Ltd

e: [email protected]

t: +61 8 9363 7600

CAUTION REGARDING FORWARD LOOKING INFORMATION

Information in this news release that is not a statement of historical fact constitutes forward- looking information. Such forward- looking

information includes, but is not limited to, statements regarding the correspondence received f rom the government of Burkina Faso and the

Company’s intention to issue a further news release. Actual results may vary from the forward- looking information.

Sarama does not undertake to update any forward- looking information, except as required by applicable laws.

This announcement has been authorised by the Board of Sarama Resources.

Neither TSX V nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts

responsibility for the adequacy or accuracy of this release.