Sarama Resources Investor Briefing
NEWS RELEASE
2 May, 2022
SARAMA RESOURCES
INVESTOR BRIEFING
PERTH, AUSTRALIA / VANCOUVER, CANADA. Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX: SRR, TSX-V:
SWA) advises that an Investor Briefing will be held via webcast following the Company’s commencement of trading on
the Australian Securities Exchange (“ASX”) on 2 May 2022.
Sarama’s President, CEO & MD, Andrew Dinning, will provide an overview of the Company and its plans for exploration
at its exciting 100%-owned Sanutura Project.
Sarama’s Corporate Presentation will be used as the basis of the briefing and is available for review on the Company’s
website or the ASX announcements platform. Investors are invited to submit written questions in advance of the
webcast to [email protected].
Details of the event are listed below:
Date: Wednesday, 4 May 2022
Time: 11.00am AEST/9.00am WST
Registration: https://tinyurl.com/SaramaResources-005
Questions: Submit written questions by 5:00pm AEST/3:00pm WST on Tuesday, 3 May 2022
A replay of the briefing will be made available on the Company’s website after the event.
For further information on the Company’s activities, please contact:
Andrew Dinning or Paul Schmiede
t: +61 8 9363 7600
For media enquiries, please contact:
Angela East
Media & Capital Partners
t: +61 428 432 025
This announcement has been authorised by the Board of Sarama Resources . Neither TSX Venture Exchange n or its
Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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ABOUT SARAMA RESOURCES LTD
Sarama Resources Ltd ( ASX: SRR, TSX-V: SWA) is a West African focused gold explorer /developer with substantial
landholdings in south -west Burkina Faso. Sarama is focused on maximising the value of its strategic assets and
advancing its key projects towards development.
Sarama’s 100%-owned(4) Sanutura Project is principally located within the prolific Houndé Greenstone Belt in south-
west Burkina Faso and is the exploration and development focus of th e Company. The project hosts the Tankoro and
Bondi Deposits which have a combined Mineral Resource of 0.6Moz gold (Indicated) plus 2.3Moz gold (Inferred)(1,2).
Together, the deposits present a potential mine development opportunity featuring an initial, long-life CIL project which
may be established and paid for by the significant oxide Mineral Resource base.
Sarama has built further optionality into its portfolio including an approximate 470km² exploration position in the highly
prospective Banfora Belt in south-western Burkina Faso. The Koumandara Project hosts several regional-scale structural
features and trends of gold-in-soil anomalism extending for over 40km along strike.
Sarama also holds an approximate 18% participating interest in the Karank asso Project Joint Venture (“ JV”) which is
situated adjacent to the Company’s Sanutura Project in Burkina Faso and is a JV between Sarama and Endeavour Mining
Corp (“Endeavour”) in which Endeavour is the operator of the JV. In February 2020, an updated Mineral Resource
estimate of 709koz gold(3) was declared for the Karankasso Project JV.
The Company’s Board and management team have a proven track record in Africa and a strong history in the discovery
and development of large -scale gold deposits. Sarama is well positioned to build on its current success with a sound
strategy to surface and maximise the value of its property portfolio.
FOOTNOTES
1. Mineral Resource estimate for Sanutura Project - 9.4Mt @ 1.9g/t Au for 0.6Moz Au (Indicated) plus 52.7Mt @ 1.4g/t Au for 2.3Moz (Inferred),
reported at cut-off grades ranging 0.2-1.6g/t Au, reflecting the mining methods and processing flowsheets assumed to assess the lik elihood of
the Mineral Resources to have reasonable prospects for eventual economic extraction. The effective date of the Company’s M ineral Resource
estimate is 16 November 2021. For further information regarding the Mineral Resource estimate refer to the technical report titled “NI 43 -101
Independent Technical Report Sanutura Project, South- West Burkina Faso”, dated 7 February 2022 and prepared by Paul Schmiede, Rindra Le
Grange and Fred Kock, and the Company’s ASX Prospectus dated 11 March 2022. Paul Schmiede is an employee of Sarama. Ms Le Grange and
Mr Kock are employees of Cube Consulti ng Pty Ltd and Orway Mineral Consultants Pty Ltd respectivley and are considered to be independent
of Sarama. The technical report is available under Sarama’s profile on SEDAR at www.sedar.com and the ASX Prospectus is available under
Sarama’s profile on ASX at www.asx.com.au.
2. Oxide & transition component of the Mineral Resource for Sanutura Project - 3.2Mt @ 1.6g/t Au for 0.2Moz Au (Indicated) plus 23.4Mt @ 1.1g/t
Au for 0.8Moz Au (Inferred), reported above cut-off grades of 0.2g/t Au and 0.3g/t Au for oxide and transition material respectively.
3. Mineral Resource estimate for Karankasso Project – 12.74Mt @ 1.73g/t Au for 709koz Au (effective date of December 31, 2019) , disclosed on
24 February 2020 by Semafo Inc (“Semafo”, since acquired by Endeavour Mining Corp. “Endeavour”). For further information regardi ng that
Mineral Resource estimate, refer to the news release “Semafo: Bantou Project Inferred Resources Increase to 2.2Moz” dated 24 February 2020
and Semafo: Bantou Project NI43 -101 Technical Report – Mineral Resource Estimate” dated 3 April 2020 and the Company’s ASX Prospectus
dated 11 March 2022. The news release and technical report are available under Semafo’s and Endeavour’s profile on SEDAR at www.sedar.com
and the ASX Prospectus is available under Sarama’s profile on ASX at www.asx.com.au . The Mineral Resource estimate was fully prepar ed by,
or under the supervision of Semafo. Sarama has not independently verified Semafo’s mineral R esource Estimate and takes no responsibility for
its accuracy. Semafo, and now Endeavour, is the operator of the Karankasso Project JV and Sarama is relying on their Qualified Persons’
assurance of the validity of the Mineral Resource estimate. Additional technical work has been undertaken on the Karankasso Project since the
effective date but Sarama is not in a position to quantify the impact of this additional work on the Mineral Resource estimate referred to above.
4. The Government of Burkina Faso has processed the requisite documents to facilitate the grant of the new, full-term Tankoro 2 and Djarkadougou
2 Exploration Permits (the "Permits") and subsequently issued the invitation to pay the permit issuance fees (the "Fees") and the Fees were paid
within the requisite 10 -day timeline. Following the payment of the Fee, the issuance of the Permit's arrêté and related paperwork becomes an
administrative process during which time the Company may undertake work on the Tankoro 2 and Djarkadougou 2 Properties. The Company
expects the arrêtés and related paperwork to be issued in due course. The properties, hosting the Tankoro and Bondi Deposits respectively, were
formerly known as Tankoro and Djarkadougou, but have been renamed as part of the process of re -issuing the respective Permits.
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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 Company’s future exploration and development plans and the use of proceeds from the offering
of CDIs, the potential for the Sanutura and Karankasso Projects to host economic mineralisation, the potential to expand the present oxide component
of the existing estimated Mineral Resources at the Sanutura Project, the potential for the receipt of regulatory approvals and the timing and prospects
for the issuance of the arrêtés for the Tankoro 2 and Djarkadougou 2 Exploration Permits by the Government of Burkina Faso. Actual results,
performance or achievements of the Company may vary from the results suggested by such forward- looking statements due to known and unknown
risks, uncertainties and other factors. Such factors include, among others, that the business of exploration for gold and other precious minerals involves
a high degree of risk and is highly speculative in nature; Mineral Resources are not Mineral Reserves, they do not have demonstrated economic viability,
and there is no certainty that they can be upgraded to Mineral Reserves through continued exploration; few properties that are explored are ultimately
developed into producing mines; geological factors; the actual results of current and future exploration; changes in project parameters as plans
continue to be evaluated, as well as those factor s disclosed in the Company’s publicly filed documents.
There can be no assurance that any mineralisation that is discovered will be proven to be economic, or that future required r egulatory licensing or
approvals will be obtained. However, the Company beli eves that the assumptions and expectations reflected in the forward- looking information are
reasonable. Assumptions have been made regarding, among other things, the Company’s ability to carry on its exploration activ ities, the sufficiency
of funding, the timely receipt of required approvals, the price of gold and other precious metals, that the Company will not be affected by adverse
political events, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Com pany to obtain further
financing as and when required and on reasonable terms. Readers should not place undue reliance on forward- looking information.
Sarama does not undertake to update any forward- looking information, except as required by applicable law s.
COMPETENT PERSONS’ & QUALIFIED PERSONS’ STATEMENT
Scientific or technical information in this disclosure that relates to the preparation of the Mineral Resource estimate for the Sanutura Project is based
on information compiled or approved by Paul Schm iede. Paul Schmiede is an employee of Sarama Resources Ltd and is a Fellow in good standing of
the Australasian Institute of Mining and Metallurgy. Paul Schmiede has sufficient experience which is relevant to the commodity, style of
mineralisation under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instrument 43 -101. Paul
Schmiede consents to the inclusion in this news release of the information, in the form and context in which it appears.
Scientific or technical information in this disclosure that relates to exploration activities at the Sanutura Project is based on inform ation compiled or
approved by Guy Scherrer. Guy Scherrer is an employee of Sarama Resources Ltd and is a member in good standing o f the Ordre des Géologues du
Québec and has sufficient experience which is relevant to the commodity, style of mineralisation under consideration and acti vity which he is
undertaking to qualify as a Qualified Person under National Instrument 43 -101. Guy S cherrer consents to the inclusion in this disclosure of the
information, in the form and context in which it appears.
Scientific or technical information in this disclosure that relates to the quotation of the Karankasso Project’s Mineral Resource estimate and exploration
activities is based on information compiled by Paul Schmiede. Paul Schmiede is an employee of Sarama Resources Ltd and is a Fellow in good standing
of the Australasian Institute of Mining and Metallurgy. Paul Schmiede has sufficient exper ience which is relevant to the commodity, style of
mineralisation under consideration and activity which he is undertaking to qualify as a Qualified Person under National Instr ument 43 -101. Paul
Schmiede consents to the inclusion in this disclosure of the information, in the form and context in which it appears. Paul Schmiede and Sarama have
not independently verified Semafo’s (now Endeavour’s) Mineral Resource estimate and take no responsibility for its accuracy.
The Exploration Results and Mineral Resource estimates referred to in this announcement were first disclosed in accordance with ASX Listing Rules 5.7
and 5.8 in the Company’s ASX Prospectus dated 11 March 2022. The Company confirms that it is not aware of any new information or data that
materially affects the information included in the ASX P rospectus and, in the case of estimates of Mineral Resource s, that all material assumptions
and technical parameters underpinning the estimates in the prospectus continue to apply and have not materially changed.