Sylla Gold Intersects 5.17 g/t Gold over 25 Metres at Niaouleni

Bedford, August 29, 2022 - Sylla Gold Corp. (TSXV: SYG) ("Sylla Gold" or the "Company") is pleased to announce positive gold assay results from 18 reverse circulation (RC) drill holes totalling 2,588 m completed primarily on the Niaouleni South prospect within its Niaouleni Gold Project ("Niaouleni") in Southern Mali (Figure 1). The Niaouleni South prospect is located approximately 6 kilometers south of Toubani Resources' (formerly African Gold Group) Kobada Project.

Assay results are still pending for an additional 39 RC drill holes totaling 4,717 m and for 212 regional air core (AC) holes totalling 10,600 m. Drilling was temporarily shut down on July 14 due to the start of the rainy season in southern Mali. The drill remains on site with drilling activities to recommence after the rainy season.

Highlights:

• 5.17 g/t Au over 25 m from drill hole NSRC22-018

including 79.8 g/t Au over 1 m

and 1.28 g/t Au over 8 m

and 2.35 g/t Au over 8 m

• 4.51 g/t Au over 4 m from drill hole NSRC22-001
• 1.33 g/t Au over 3 m from drill hole NSRC22-003
• 2.81 g/t Au over 12 m from drill hole NSRC22-005

including 8.78 g/t Au over 3 m

• 1.49 g/t Au over 9 m from drill hole NSRC22-006
• 1.76 g/t Au over 9 m from drill hole NSRC22-008
• 3.94 g/t Au over 3 m from drill hole NSRC22-009

and 2.63 g/t Au over 3 m

A summary of significant gold assay intercepts of these holes is shown in Table 1 and collar locations and depths for RC drill holes NSRC22-001 to NSRC22-018 are shown in Table 2.

Regan Isenor, President and CEO of Sylla, commented, "We are very encouraged by this first pass of assay results from the initial RC drilling program, which have confirmed the presence of both significant gold grades and mineralized widths at our Niaouleni South prospect in 15 of the first 18 holes drilled. We are further excited by the results from drill hole NSRC22-018, which may suggest the presence of high-grade east-west quartz vein / veinlet clusters inside the NNE to N-S trending structural corridor."

Drilling was carried out to further test the Niaouleni South prospect which lies roughly 6 km south of the adjacent Kobada Project. At Niaouleni, significant gold intersections were reported by previous drilling by operators during 1993 to 1997 (Mink International Resources / Viceroy Resources JV) and 2010-2011 (Frontline Gold Corp.). No exploration work has been carried out at Niaouleni for over 10 years. See Table 3

Figure 1: Location map of the Niaouleni Gold Project in southern Mali

To view an enhanced version of Figure 1, please visit:
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Table 1: Significant assay intercepts by Sylla Gold for Niaouleni (NSRC22-001 to NSRC21-018)

Notes: A cut-off 0.5 g/t Au was applied with maximum 2 m of internal dilution; no high-cap cut-off was applied. True width of the sampled intervals has not yet been determined.

Technical Overview of RC Drilling Program

The purpose of the Niaouleni Project RC drilling program is to:

• Confirm previously defined wide zones of high-grade gold mineralization intersected in historical drilling programs completed by previous operators;
• Define the structural characteristics of the interpreted Kobada Shear extension on the property; and
• Test extensive termite mound and soil anomalies that lie both on strike from the adjacent Kobada deposit owned by Toubani Resources and in other areas of the property.

All gold-bearing intersections are hosted in metasedimentary saprolite with quartz veins / veinlets. An east-west trending (barren) mafic dyke cuts across the mineralized corridor at about 1281 380N.

Geological interpretation for these drill holes is very preliminary. A potential dilational flexure rendering the Niaouleni South trend close to N-S, compared to the NNE regional structural trend has been interpreted based on existing results. Inside this flexure, the highest grades appear to be hosted in E-W vein / veinlet clusters as indicated in NSRC22-018. Additional RC drill holes have been drilled at N160 (assays pending) to attempt to confirm this working hypothesis.

• Figure 2 shows the locations of the 2022 drilling at the property scale.
• Figure 3 shows the locations and highlights of the 2022 RC drilling at Niaouleni South prospect.
• Figure 4 shows the cross-section at 1281350N including NSRC22-018 which was drilled at N160 to test for east-west quartz vein / veinlet clusters within the structural corridor.
• Figure 5 shows these east-west quartz vein / veinlet clusters in an area of artisanal mining.

Figure 2: Locations of the 2022 RC drilling results (NSRC22-001 to NSRC22-018) at property scale

To view an enhanced version of Figure 2, please visit:
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Figure 3: Map showing RC drill holes and significant assay results at Niaouleni South

To view an enhanced version of Figure 3, please visit:
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Figure 4: Cross section 1281340 at Niaouleni South showing significant assay results

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Figure 5: E-W quartz vein cluster in the N-S corridor at Niaouleni

To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/6472/135240_3088586fc4ee29bd_005full.jpg

Table 2: RC drill hole collar table for Niaouleni South (NSRC22-001 to NSRC22-018)

Notes: Collar coordinates are in UTM WGS84 Zone 29 and determined using a handheld GPS unit. True width of the intervals has not yet been determined.

Table 3: Historical Drilling Results

Drilling, QAQC, and Sampling and Assay Procedures

RC drilling was completed by Forage FTE Drilling of Bamako, Mali using an Atlas Copco T3W Reverse Circulation drilling rig. RC samples weighing approximately 2 kg were bagged at the drilling rig and transported to the camp by Company personnel. Blanks, certified standards, and field duplicates were inserted into the sample stream every 15 samples. Samples were then transported by truck by Bureau Veritas to their laboratory in Bamako, Mali where they were logged, dried (105°C), and crushed (75% passing 2mm). 1 kg of crushed material was split and pulverized (85% passing 75µ). Fire assay using atomic absorption finish was performed on a 50 g sample. All assay results greater than 10 g/t Au were re-assayed with gravimetric finish.

Bureau Veritas is registered to international quality standards through the ISO/IEC 17025:2017 standards and is independent of Sylla Gold. The Company and its geological consultants confirm all assay results reported herein have passed QAQC protocols.

About the Niaouleni Project

The Niaouleni Project consists of 4 permits totalling 17,200 hectares in size and accessible by paved highway and includes extensive artisanal mining activity within the gold bearing structures and their potential extensions. Past exploration at Niaouleni includes termite mound and soil geochemistry surveys, and reverse circulation (RC) and diamond drilling that have identified several structural gold-bearing zones that appear to extend from the adjacent Kobada gold deposit. The Kobada gold deposit is situated approximately 3 km north of the northern limit of the Niaouleni exploration licence. Historical exploration and drilling results were compiled by Sylla into a digital database and interpreted for the purposes of designing and RC and AC drilling program to further test these interpreted structural gold-bearing zones and possibly extend them further into the project area.

Further information on the Niaouleni Gold Project is available in the Company's NI 43-101 technical report on the Niaouleni Project with an effective date of September 28, 2021, and available on the Company's SEDAR profile at www.sedar.com.

Data Verification and Qualified Person Statement

Gregory Isenor, P. Geo., Director for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

This news release also contains scientific and technical information with respect to adjacent or similar mineral properties to the Niaouleni Project, which the Company has no interest in or rights to explore. Readers are cautioned that information regarding the geology and mineralization on adjacent or similar properties is not necessarily indicative of the mineralization on the Company's property.

For more information, please contact:
Regan Isenor
President and Chief Executive Officer
Tel: (902) 233-4381
Email: risenor@syllagold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information Statement

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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