Sanu Gold Announces Initial 2023 RC Drill Results from the Daina Gold Exploration Permit in Guinea, West Africa: 1.55 g/t Au over 15 m, Including 2.55 g/t Au over 6 m

Vancouver, British Columbia--(Newsfile Corp. - May 15, 2023) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce initial results from the Company's 2023 reverse circulation ("RC") drill program on the Daina 2 Main Zone Target on the Daina Gold Exploration Permit ("Daina"), located in Guinea's prolific Siguiri Basin, approximately 50 kilometres ("km") northwest of AngloGold Ashanti Limited's Siguiri Mine.

Highlights include:

• 1.55 g/t Au over 15 m, including 2.55 g/t Au over 6 m (DAI-RC-044), and
• 1.03 g/t Au over 10 m, including 6.64 g/t Au over 1 m (DAI-RC-043)

Martin Pawlitschek, President and CEO of Sanu Gold commented: "The limited initial drilling at our Daina 2 Main Zone discovery in the 2023 program was designed to continue to test the different vein orientations observed in surface exposures at this highly prospective target centered on a 4.5 km long gold-bearing anomaly. While this most recent drilling continued to intersect broad zones of gold mineralization at the Daina 2 Main Zone, this orientation did not sample the very high grade gold veins encountered previously at this target. This work will serve to optimize further drill testing along this gold-bearing structure."

Program Details

Ten RC holes totaling 1,016 meters ("m") have been drilled at the Daina 2 Main Zone in 2023. The results for the first seven holes, totaling 688 m, have been received and are reported herein (Figure 1). Results for the remaining three holes, totaling 328 m, are pending. This drilling was designed to test an alternate drill orientation from the 2022 drilling campaign prior to proceeding with a more systematic drill test of the 4.5 km Daina 2 target. The new holes were drilled to the southeast, as field measurements and structural investigations indicated that most high-grade mineralized veins at Daina 2 Main Zone trend northeast to east-northeast, forming vein sets that crosscut and are preferentially hosted within a thick southwest dipping greywacke unit. The initial 2023 drill program aimed to intersect these high-grade vein sets at high angle, as well as a second set of lower grade veins, both of which are targeted by local miners.

Several of the drill holes reported herein intersected gold mineralization hosted within hydrothermally altered and deformed coarse-grained greywacke, crosscut by auriferous quartz veins associated with disseminated pyrite and arsenopyrite in the fresh rock below a 50 m thick saprolite. Broad zones of gold mineralization have been intersected in the greywacke unit as summarized in Table 1 and Figures 1 and 2.

Significant intercepts from the first seven RC holes of the 2023 program include:

• 1.55 g/t Au over 15 m, including 2.55 g/t Au over 6 m, followed further downhole by 0.60 g/t Au over 11 m, including 2.34 g/t Au over 1 m (DAI-RC-044),
• 1.03 g/t Au over 10 m, including 6.64 g/t Au over 1 m (DAI-RC-043), and
• 0.37 g/t Au over 21 m, including 1.19 g/t Au over 1 m followed further downhole by 0.68 g/t Au over 5 m, including 1.82 g/t Au over 1 m (DAI-RC-045).

Structurally-hosted gold mineralization in the major mines in the region typically exhibit multiple and varying orientations and it is not uncommon to test various drill orientations to best sample both the gold veins and host lithologies. The intercepts from the 2023 drilling, combined with new structural interpretations of the mineralizing system, demonstrate that there are likely several veins set occurring within the system at a different orientation from the bonanza-grade veins intersected in the 2022 RC drill program (see Sanu Gold news releases date October 3 and 18, 2022). The vein sets intersected during the current drill program generally have lower grade, but form broad zones of mineralization.

Results returned from the 2022 drill program at the Daina 2 Main Zone which were drilled on an easterly and westerly azimuth include:

• 4.75 g/t Au over 21 m, including 85.5 g/t Au over 1 m (DAI-RC-004),
• 1.99 g/t Au over 37 m, including 32.6 g/t Au over 1 m, followed further downhole by 1.23 g/t Au over 15 m, including 12.3 g/t Au over 1 m (DAI-RC-001),
• 5.50 g/t Au over 11 m, including 56.6 g/t Au over 1 m (DAI-RC-013).

Based on the results from the drilling completed to date at the Daina 2 Main Zone and structural information obtained from surface exposures, the Company will evaluate the preferred orientation for follow-up drilling at this target.

Next Steps

Results for the remaining three holes of the current orientation program are pending and will be released when received.

A total of 10,000 m of RC drilling is planned to fully and systematically test the 4.5 km long Daina 2 target, one of the largest anomalies on the Daina exploration permit, as well as additional targets at Daina. The planned program allows for drilling systematic drill fences along the combined 15 km length of gold-bearing structures which comprise targets 1, 2 and 6 at Daina. The results from the first seven holes in 2023, along with results from 2022, will assist in guiding the drill orientations for further testing of this highly prospective permit.

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. All samples 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.

Figure 1: Daina 2 Main Zone map showing geological and structural features, drill hole surface plan and highlighted assays results from 2022 and 2023 RC drilling at the Daina 2 Main Zone.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8941/165941_5c4bd1f1e46c68dc_001full.jpg

Figure 2: Daina 2 Main Zone cross-sections showing geological and structural interpretation, RC drill hole traces and highlighted assays results from RC drill holes.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8941/165941_5c4bd1f1e46c68dc_002full.jpg

Table 1: Daina 2 Main Zone RC drill intercepts.

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.

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 has defined multi-kilometer long gold-bearing structures on each of the gold exploration permits, with multiple high-value drill targets and is targeting multi-million ounce gold discoveries. In its inaugural drill program in 2022, Sanu Gold discovered the high-grade Daina 2 Main Zone on the Daina Gold Exploration Permit. 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
info@sanugoldcorp.com

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 raise sufficient capital to fund its obligations under its property agreements going forward, ability to maintain its material property agreements, mineral tenures and concessions in good standing, to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associated with mineral exploration and mining operations, future prices of gold and other metals, changes in general economic conditions and local risks in the jurisdiction (Guinea) in which it operates, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165941