Sylla Gold Defines Multiple Regional RC Drilling Targets with Air Core Drilling Program

Bedford, October 4, 2022 - Sylla Gold Corp. (TSXV: SYG); (OTCQB: SYGCF) ("Sylla Gold" or the "Company") is pleased to announce additional positive gold assay results from 212 air core (AC) drill holes totalling 10,600 m completed on gold anomaly target areas previously defined by both termite and soil sampling. These anomalies occur at various locations all within the Company's Niaouleni Gold Project ("Niaouleni") in Southern Mali (Figure 1).

The Company's 2022 Phase 1 drilling program consisted of 57 reverse circulation (RC) holes (see press releases dated August 29, 2022 and September 13, 2022), which focused on South Niaouleni, Kankou Moussa, Lebre Plateau and Gouingouindougou and 206 shallow AC holes designed to define additional gold targets throughout the licence for follow-up RC drilling.

AC Drilling Highlights:

• 37.0 g/t Au over 2 m from drill hole NSAC22-142

• 17.6 g/t Au over 2 m from drill hole NSAC22-211 (laterite)
  • and 1.10 g/t Au over 8 m

• 4.43 g/t Au over 6 m from drill hole NSAC22-198
  • including 12.4 g/t Au over 2 m

• 6.78 g/t Au over 2 m from drill hole NSAC22-122

• 5.88 g/t Au over 2 m from drill hole NSAC22-150 (laterite)

• 5.70 g/t Au over 2 m from drill hole NSRC22-042 (laterite)
  • and 1.10 g/t Au over 8 m
  • and 0.93 g/t Au over 8 m

A summary of significant gold assay intercepts of these AC holes is shown in Table 1

Regan Isenor, President and CEO of Sylla, commented, "We are encouraged by the initial 6,754m RC and 10,600m AC drill program at our Niaouleni Project. The initial results have established the presence of significant widths of high-grade gold on known near surface oxide targets at Niaouleni.

These targets are part of a pipeline of promising prospects that sit along a cumulative 10km of the Kobada and Gosso Shear structures directly on trend from Toubani Resources' Kobada project.

Out technical team has developed many target areas using geochemical sampling, termite mound sampling, artisanal pits mapping, and with the interpretation of historical and recent drilling across the 172km² permit area. With a better understanding of the oxide targets the longer term goal is to identify deeper, higher grade feeder structures that provide the plumbing to the system, allowing us to unlock the sizeable potential of the gold endowment on the permit area.

These are the same geological techniques and process our team has employed in previous West African discoveries including Roscan Gold, Merrex Gold and Jilbey Gold.

An interpretation of all results of exploration is in progress and will be released in the near future when completed. It is apparent that the Niaouleni land position occurs in a highly mineralized gold Corridor.

The exploration plans include further termite sampling of areas not previously sampled, follow up AC drilling on existing and new termite and soil anomalies, RC drilling of AC anomalies to test for gold at depth, and detailed RC and DD follow up of phase 1 gold intersections. In addition, further land acquisition is planned."

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

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Figure 2: 2022 AC drilling results- property scale

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Table 1: Significant AC drilling assay intercepts for Niaouleni Project

Notes: please refer to the section on AC drilling assay data limitations below. 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 AC Drilling Program

The AC drilling program was used a first pass, reconnaissance-style shallow drilling technique (refer to section below on AC drilling limitations) to test multiple regional targets and to 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 during the AC drilling program were hosted in metasedimentary saprolite with quartz veins / veinlets.

Geological interpretation for these AC drill hole results is still very preliminary and will require follow-up RC drilling to further refine any identified targets.

Air Core (AC) drilling methods

Air Core (AC) drilling techniques are typically used to sample mineralized horizons at very shallow depths (<100 m), or as utilized at Niaouleni to quickly ground truth our soil and termite gold anomalies. Similar to reverse circulation (RC) drilling both involve the use of compressed air to flush out samples from the hole. However, AC drilling is mainly limited to unconsolidated materials, and typically at shallow depths compared to RC drilling. Both AC and RC use a closed system to collect representative samples. RC drilling is ideal for harder ground and is also able to achieve much greater depths.

AC drilling at the Niaouleni project is therefore the exploration method used as a first pass check of soil and termite mound gold anomalies to test for gold at depth and typically requires follow-up RC or diamond drilling to better refine the initial results. AC drilling is therefore used as a cheaper, cost-saving drilling method for ground-truthing surface anomalies over a large area over a short period of time.

Drilling, QAQC, and Sampling and Assay Procedures

AC drilling was completed by Forage FTE Drilling of Bamako, Mali using an Atlas Copco T3W Reverse Circulation drilling rig. AC 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

All scientific and technical information disclosed in this news release was reviewed and approved by Gregory Isenor, P.Geo., Director of Sylla Gold Corp. and a Qualified Person as defined in NI 43-101.

Mr. Isenor has verified all scientific and technical data disclosed in this news release including the AC drilling results, QAQC procedures, and analytical (assay) data underlying the technical information disclosed. Mr. Isenor noted no errors or omissions during the data verification process and a Company geologist also verified the technical information disclosed. The Company and Mr. Isenor do not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed in this news release.

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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