Sylla GOLD Provides Update ON Private Placement of Units

Sylla Gold Corp

1550 Bedford Highway, Suite 802

Bedford, Nova Scotia, Canada B4A 1E6

(902) 233-4381

SYLLA GOLD PROVIDES UPDATE ON PRIVATE PLACEMENT OF UNITS

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION

IN THE UNITED STATES

December 8, 2022 – Bedford, Nova Scotia – Sylla Gold Corp. ( TSXV: SYG) (the “Company”) announces that,

further to its press release of October 20, 2022, the Company has applied to the TSX Venture Exchange for an

extension of its price protection for an additional 30 days in order to complete the previously announced non-brokered

private placement of up to 10,000,000 units at a price of $0.10 per unit for aggregate gross proceeds of up to $1,000,000

(the “Offering”).

For further details on the Offering, please refer to the Company’s press release of October 20, 2022.

For more information, please contact:

Regan Isenor

President and Chief Executive Officer

Tel: (902) 233-4381

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange)

accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward looking information

is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”,

“potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are

only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and

is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected

in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should

refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if

circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance

on forward-looking information.