Sanu Gold Announces New Discovery from Initial Drill Program at the Daina Gold Exploration Permit in Guinea, West Africa

Vancouver, British Columbia--(Newsfile Corp. - October 3, 2022) - Sanu Gold Corporation (CSE: SANU) ("Sanu Gold" or the "Company") is pleased to announce significant gold assay results from the first holes of its initial reverse circulation ("RC") drill program (the "Program") on the Daina Gold Exploration Permit ("Daina" or the "Permit") in Guinea, West Africa, including results from the Daina 2 Main Zone discovery.

Highlights from the Daina 2 Main Zone:

• 4.75 g/t Au over 21 m¹, including 85.5 g/t Au over 1 m, in DAI-RC-004,
• 1.99 g/t Au over 37 m, including 32.6 g/t Au over 1 m and 15.0 g/t Au over 1 m, as well as 1.23 g/t Au over 15 m, including 12.3 g/t Au over 1 m in DAI-RC-001,
• 5.50 g/t Au over 11 m, including 56.6 g/t Au over 1 m in DAI-RC-013,
• 1.80 g/t Au over 7 m, including 3.29 g/t Au over 3 m in DAI-RC-006, and
• 1.04 g/t Au over 15 m in DAI-RC-012.

Martin Pawlitschek, President and CEO of Sanu Gold commented: "We are extremely pleased to announce a new gold discovery at our Daina Gold Exploration Permit in Guinea. Over the past several months we have been working to systematically define multi-kilometer long gold mineralized trends, and in our first drill holes intersected several high-grade gold intercepts at the Daina 2 Main Zone. Drilling has begun to define a moderately-dipping mineralized structure intersected on the three 65 m spaced lines drilled to date. As we progress through this first and subsequent phases of drilling, we will continue to test the downdip extent of the Daina 2 Main Zone, as well as lateral extensions along its potentially 4 km long strike extent."

Program Details

The Program commenced in early August, 2022 and is now complete, with 3,675 m drilled in 40 RC holes at the Daina 1, Daina 2 and Daina 6 targets. The Program was designed to provide an initial drill test below high-grade gold in rock chip samples from artisanal working pits at the Daina 2 and Daina 6 targets and strong gold in auger bedrock anomalies at the Daina 1, Daina 2 and Daina 6 targets. For additional information on the rock chip and auger sampling programs, see the Sanu Gold news releases dated July 29, August 3 and September 9, 2022.

Daina 2 Target including Daina 2 Main Zone Discovery

A total of 2,609 m were drilled in 31 RC holes at the Daina 2 target to test an initial 2 km length of the potentially 4 km long mineralized corridor. Assay results have been received for the first 14 holes (DAI-RC-001 to -013 and DAI-RC-015), which have begun to outline a gold mineralized structure on three 65 m spaced lines in the central portion of the target, termed the Daina 2 Main Zone. Initial assay results from the Daina 2 Main Zone include multiple high-grade gold intercepts as summarized in Table 1, Figures 1 and 2 and the highlights section above.

An additional five holes were drilled on the Daina 2 Main Zone (DAI-RC-014 and DAI-RC-032 to -34 B; Figure 2). DAI-RC-034A was lost near the top of the prospective horizon and was redrilled as DAI-RC-034B; assay results for these remaining holes are pending. A further 14 holes were drilled at the Daina 2 target on sections up to 1,000 m north and 1,000 m south of the Daina 2 Main Zone, with assays pending.

The gold mineralization encountered to date within the Daina 2 Main Zone is associated with strongly deformed, hydrothermally altered and folded, coarse-grained greywacke containing quartz vein stockwork and breccia and pervasive disseminated pyrite and arsenopyrite. Key alteration associated with the gold mineralization is silicification. Interpretation of the potentially gold-bearing alteration and deformation zones demonstrates that the mineralized structure strikes north-northwest and dips moderately to the west, with a potential width of up to 50 m, and hosting several sub-parallel zones of gold mineralization with widths approaching 40 m (Figure 2). The RC drill holes intercepted deep saprolite horizons which extend to depths of up to 50 m.

The initial results reported herein confirm the saprolite-hosted gold mineralization reported from the auger drill program at the Daina 2 Main Zone extends to depth and suggest the potential for a significant north-south strike extent of mineralization in this target area.

Daina 6 Target

A total of 607 m was drilled in 6 RC holes at the Daina 6 target to test the depth extension of high-grade gold in rock chip samples from artisanal workings and a well-defined gold in auger bedrock anomaly. Assay results from the first 4 holes returned short intervals of anomalous gold mineralization up to 0.70 g/t Au over 4 m in the first 2 holes and no significant gold values in the next 2 holes (Table 2). Assay results for the final 2 holes from the Daina 6 target are pending.

Daina 1 Target

Two fences of two holes each were drilled at the Daina 1 target, for a total of 324 m in 4 RC holes to test strong gold in auger bedrock anomalies. Assay results for all holes from the Daina 1 target are pending.

Next Steps

Sanu Gold geologists are currently compiling data from the Program with geological and structural information from areas where new artisanal mining activities have exposed previously unknown zones of gold mineralization to aid the current geological and structural model for the Daina 2 Main Zone discovery. This information, together with pending results from the Program will aid in planning the next round of drilling at Daina, which the Company intends to commence in early November.

Further results from the Program are expected to be released in Q4/2022.

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. Sample pulps from select holes are being sent to a secondary independent laboratory for verification.

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

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8941/139153_75f2476394c69b21_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/8941/139153_sanufigure2.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 and high-grade sub-intervals are highlighted. Grid coordinates are UTM WGS84 Zone 29N. NSV = no significant values.

Table 2: Daina 6 target 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 the world class Siguiri Basin, host to several operating mines, Sanu Gold is exploring three high quality gold exploration permits in Guinea, West Africa targeting multi-million ounce gold discoveries. The Company has defined multi-kilometer scale gold bearing structures on each of the gold exploration permits, with multiple high-value drill targets. Sanu is operated by a highly experienced team with successful records of discovery, resource development and mine permitting.

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
VP, Corporate Development & Communications
Sanu Gold Corp.
info@sanugoldcorp.com

John Boidman
Renmark Financial Communications Inc.
+1 (514) 939-3989; +1 (212) 812-7680
jboidman@renmarkfinancial.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 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.

¹ g/t Au = grams of gold per tonne, m = metres

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