Sanu Gold Continues to Intersect Gold Mineralization, Including 5.48 g/t Au over 15 Metres, at the Daina Gold Exploration Permit in Guinea, West Africa

Vancouver, British Columbia--(Newsfile Corp. - October 18, 2022) - Sanu Gold Corporation (CSE: SANU) (OTCQB: SNGCF) ("Sanu Gold" or the "Company") is pleased to announce further results from the Company's initial reverse circulation ("RC") drill program (the "Program") on the Daina Gold Exploration Permit ("Daina") in Guinea, West Africa.

Highlights include:

• 5.48 g/t Au over 15 m¹, including 78.4 g/t Au over 1 m, as well as 3.69 g/t Au over 1 m further downhole (DAI-RC-034-B) at the Daina 2 Main Zone,

• 36.2 g/t Au over 1 m (DAI-RC-021) at the Daina 6 Target,

• 7.95 g/t Au over 1 m (DAI-RC-040) at the Daina 1 Target, and

• 2.74 g/t Au over 1 m (DAI-RC-022) and 2.22 g/t Au over 1 m (DAI-RC-030-A) at the Daina 2 Target

Martin Pawlitschek, President & CEO of Sanu Gold, commented: "In our first drill program in Guinea we have intersected gold mineralization in all three zones tested, an excellent success rate and validation of our program of systematic exploration on our highly prospective landholdings. At our Daina 2 Main Zone discovery, in addition to the previously reported 4.75 g/t Au over 21 m, we have now intersected 5.48 g/t Au over 15 m, demonstrating that the Daina Gold Exploration Permit is a promising project which warrants continued exploration. To this end we plan to restart field work and drilling in early November."

Program Details

All assay results have been received and released for the 3,675 m drilled in 42 RC holes in the first phase of drill testing at Daina. The objective of the Program was to provide an initial drill test of the subsurface extension of high-grade gold mineralization in rock chip samples below artisanal workings at the Daina 2 and Daina 6 targets, as well as scout testing the well-developed gold in bedrock anomalies from auger drilling at the Daina 1, Daina 2 and Daina 6 targets.

Daina 2 Target, including Daina 2 Main Zone Discovery

Thirty-two RC holes totaling 2,744 m were drilled at the Daina 2 target to provide an initial test along 2 kilometres ("km") of the potentially 4 km long mineralized corridor (Figure 1), including 19 holes at the Daina 2 Main Zone discovery. As announced in the Sanu Gold news release dated October 3, 2022, initial drill results from the Program included 4.75 g/t Au over 21 m at the Daina 2 Main Zone. New assay results from this zone reported herein include:

• 5.48 g/t Au over 15 m, including 78.4 g/t Au over 1 m, as well as 3.69 g/t Au over 1 m further downhole (DAI-RC-034-B),

• 0.67 g/t Au over 6 m, including 2.28 g/t over 1 m and 1.28 g/t over 1 m (DAI-RC-014)

• 0.81 g/t Au over 5 m, including 2.09 g/t over 1 m, followed further downhole by 1.21 g/t Au over 2 m (DAI-RC-033), and

• 2.11 g/t Au over 1 m (DAI-RC-032; Table 1).

A total of 5 RC holes were drilled at Daina 2 North, on lines 400 m and 800 m north of the Daina 2 Main Zone. These holes provided an initial test of the northern extension of the mineralized structure. Highlights from Daina 2 North include:

• 2.22 g/t Au over 1 m (DAI-RC-030-A),

• 0.51 g/t Au over 5 m, including 1.43 g/t Au over 1 m (DAI-RC-035), and

• 0.91 g/t Au over 2 m, including 1.42 g/t Au over 1 m (DAI-RC-036).

A total of 8 RC holes were drilled at Daina 2 South, on lines 400 m and 800 m south of the Daina 2 Main Zone. These holes provided an initial test of the southern extension of the mineralized structure. Several of the drill holes intersected gold mineralization hosted within hydrothermally altered and deformed coarse-grained greywacke crosscut by an auriferous quartz vein stockwork associated with disseminated pyrite and arsenopyrite. Highlights from Daina 2 South include:

• 2.74 g/t Au over 1 m (DAI-RC-022),

• 0.54 g/t Au over 6 m, including 1.53 g/t Au over 1 m (DAI-RC-024), and

• 0.76 g/t Au over 7 m, including 1.16 g/t Au over 1 m and 1.04 g/t Au over 1 m (DAI-RC-027).

Extension drilling at Daina 2 North and South was successful in confirming gold mineralization at depth over approximately 2 km of strike length at the Daina 2 Target. Results from initial RC and auger drilling suggests that the gold mineralized system remains open down dip and laterally along strike over a distance of 4 km (Figures 1 and 2). The weathering profile at the Daina 2 target is estimated to be up to 50 m vertical depth and gold mineralization has been intercepted to a maximum vertical depth of approximately 100 m, with gold grade continuity indicated through the thick weathered rock profile.

A 3D interpretation of the mineralized structure using RC and auger drill results indicate a broad zone of gold mineralization hosted in the hanging wall of a major north-northwest-trending, moderately west-dipping, crustal-scale thrust fault zone that cuts a 30 m to 40 m thick coarse-grained greywacke of the Siguiri Birimian sedimentary basin. The geological interpretation of the Daina 2 Target is preliminary and will require follow-up infill drilling to better define the geometry, width, tenor and style of the mineralized structure.

Daina 6 Target

Six RC holes totaling 607 m were drilled at the Daina 6 Target to test the subsurface extension of high-grade gold in rock chip samples from artisanal workings and a well-defined gold in auger bedrock anomaly (Figure 3). Assay results from the Program included 36.2 g/t Au over 1 m in DAI-RC-021 below the main artisanal workings (Figure 3 and Table 2). Gold mineralization is associated with abundant quartz veins and disseminated pyrite and arsenopyrite and is hosted in altered coarse-grained greywacke. A 150 m length of the over 1.5 km long Daina 6 Target gold anomaly and structure was tested in the Program. Additional drilling is planned to further test this mineralized structure.

Daina 1 Target

Four RC holes totaling 324 m were drilled at the Daina 1 Target to test strong north-northwest trending gold in bedrock auger anomalies at Daina 1 North and Daina 1 South. One fence of 2 holes was drilled on the 3 km long structure at Daina 1 North and a second fence of 2 holes was drilled 4.5 km to the south at the 3 km long structure at Daina 1 South to provide an initial test at two locations along a cumulative 6 km long strike extent (Figure 4). Assay results from the RC holes included 7.45 g/t Au over 1 m and 1.01 g/t Au over 1 m in DAI-RC-040 (Figure 4 and Table 3). Several highly prospective areas along the Daina 1 Target remain untested due to field conditions during the wet season. Additional RC drilling is planned along the structure at Daina 1 North and Daina 1 South to continue to evaluate this target area.

Next Steps

The Company is planning to resume field operations in early November. The follow up work will include additional RC testing and possibly geophysical surveys and additional auger infill drilling.

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

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8941/140857_5d1b82e604589a01_001full.jpg

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/140857_5d1b82e604589a01_002full.jpg

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8941/140857_5d1b82e604589a01_003full.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/8941/140857_5d1b82e604589a01_004full.jpg

 

Figure 3: Daina 6 target map showing geological and structural features, drill hole surface plan and highlighted assays results from the RC drilling.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/8941/140857_5d1b82e604589a01_005full.jpg

 

Figure 4: Daina 1 target map showing geological and structural features, drill hole surface plan and highlighted initial assays results from the RC drilling.

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/8941/140857_5d1b82e604589a01_006full.jpg

Table 1: Daina 2 Target (including Daina 2 Main Zone) RC drill intercepts.

Hole ID	X-UTM	Y-UTM	Length (m)	Azimuth (o)	Dip (o)	Intercept (g/t Au)	Interval (m)	From (m)	Area
Previously Released Results (see Sanu news release dated October 3, 2022)
DAI-RC-001	503315	1319025	75	270	55	1.23	15	1	Daina 2 Main Zone
including						12.3	1	11
						1.99	37	21
including						15.0	1	38
and						32.6	1	54
						0.31	1	68
DAI-RC-002	503365	1319021	100	270	55	NSV			Daina 2 Main Zone
DAI-RC-003	503407	1319030	46	270	55	NSV			Daina 2 Main Zone
DAI-RC-004	503336	1318964	100	270	55	0.49	1	4	Daina 2 Main Zone
						0.71	9	17
including						1.22	3	23
						0.65	3	46
						4.75	21	56
including						85.5	1	69
						0.33	1	94
DAI-RC-005	503382	1318968	100	270	55	0.33	1	1	Daina 2 Main Zone
DAI-RC-006	503291	1319080	70	270	55	1.80	7	1	Daina 2 Main Zone
including						3.29	3	1
						0.29	4	19
						0.98	3	29
						0.34	1	53
DAI-RC-007	503338	1319076	65	270	55	NSV			Daina 2 Main Zone
DAI-RC-008	503260	1319020	96	270	60	0.36	2	2	Daina 2 Main Zone
						0.43	2	16
						1.54	1	27
						0.62	4	34
						0.36	4	84
DAI-RC-009	503148	1319022	85	90	60	NSV			Daina 2 Main Zone
DAI-RC-010	503050	1319015	110	90	60	0.44	1	5	Daina 2 Main Zone
DAI-RC-011	503143	1319090	120	90	60	0.47	1	84	Daina 2 Main Zone
						0.77	1	9
DAI-RC-012	503236	1319078	115	270	70	1.04	15	45	Daina 2 Main Zone
						0.38	1	91
						0.51	1	100
						0.59	1	108
DAI-RC-013	503276	1318953	110	270	70	5.50	11	80	Daina 2 Main Zone
including						56.6	1	80
						0.51	2	96
DAI-RC-014	503183	1318949	150	90	60	0.67	6	105	Daina 2 Main Zone
including						2.28	1	105
and						1.28	1	109
DAI-RC-015	502941	1319015	135	90	60	NSV			Daina 2 Main Zone
New Results
DAI-RC-022	503499	1318597	90	60	75	2.74	1	0	Daina 2 South
						0.25	11	6
						0.49	1	26
						0.30	2	31
						0.45	4	46
DAI-RC-023	503437	1318598	90	60	70	0.50	3	38	Daina 2 South
						0.77	1	49
						0.54	1	70
DAI-RC-0024	503380	1318598	90	60	85	0.54	6	55	Daina 2 South
including						1.53	1	59
DAI-RC-025	503848	1318196	90	60	65	NSV			Daina 2 Main Zone
DAI-RC-026	503774	1318195	90	60	75	NSV			Daina 2 Main Zone
DAI-RC-027	503685	1318193	90	60	71	0.76	7	10	Daina 2 South
Including						1.16	1	10
and						1.04	1	15
DAI-RC-028	503419	1318600	90	55	71	0.60	2	17	Daina 2 Main Zone
						0.37	11	49
DAI-RC-029	503362	1318602	90	55	70	0.48	2	63	Daina 2 Main Zone
DAI-RC-030-A	503023	1319400	90	55	10	2.22	1	3	Daina 2 North
DAI-RC-030-B	503021	1319400	90	55	50	0.35	3	5	Daina 2 North
DAI-RC-031	502998	1319397	90	55	78	0.41	4	23	Daina 2 North
DAI-RC-032	503236	1319081	90	55	99	0.56	7	32	Daina 2 Main Zone
Including						2.11	1	33
DAI-RC-033	503241	1319024	90	55	105	0.40	1	13	Daina 2 Main Zone
						0.81	5	24
Including						2.09	1	28
						0.40	1	43
						0.30	1	29
						0.70	7	58
Including						1.21	2	60
and						1.53	1	64
DAI-RC-034-A	503249	1318957	90	60	65	NSV			Daina 2 Main Zone
DAI-RC-034-B	503249	1318958	90	55	120	5.48	15	76	Daina 2 Main Zone
Including						78.4	1	85
						3.69	1	114
DAI-RC-035	502694	1319836	90	55	80	0.51	5	21	Daina 2 North
including						1.43	1	21
						0.26	4	56
DAI-RC-036	502714	1319838	90	55	78	0.28	5	9	Daina 2 North
						0.91	2	32
Including						1.42	1	33
						0.44	1	60

 

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.

Table 2: Daina 6 Target with RC drill intercepts

Hole ID	X-UTM	Y-UTM	Length	Azimuth	Dip	Intercept	Interval	From	Area
			(m)	(o)	(o)	(g/t Au)	(m)	(m)
Previously Released Results (see Sanu news release dated October 3, 2022)
DAI-RC-016	501758	1319112	120	270	55	0.39	1	42	Daina 6
						0.30	1	51
DAI-RC-017	501735	1319140	100	270	55	0.70	4	1	Daina 6
						0.34	2	32
DAI-RC-018	501651	1319111	95	90	70	NSV			Daina 6
DAI-RC-019	501633	1319151	95	90	55	NSV	-	-	Daina 6
New Results
DAI-RC-020	501697	1319024	90	55	98	NSR			Daina 6
DAI-RC-021	501794	1319028	90	55	99	36.2	1	36	Daina 6

 

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.

Table 3: Daina 1 Target with RC drill intercepts

Hole ID	X-UTM	Y-UTM	Length	Azimuth	Dip	Intercept	Interval	From	Area
			(m)	(o)	(o)	(g/t Au)	(m)	(m)
New Results
DAI-RC-037	504598	1311499	90	55	72	0.48	1	11	Daina 1
						0.35	4	22
DAI-RC-038	504563	1311470	90	55	72	0.44	1	54	Daina 1
						0.64	3	60
DAI-RC-039	502903	1315700	90	55	80	0.76	1	78	Daina 1
DAI-RC-040	502873	1315700	90	55	100	1.01	1	17	Daina 1
						7.95	1	35

 

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.

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.

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 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.

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

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