Sylla Gold Commences Phase 2 Drilling at Niaouleni Gold Project

Bedford, January 23, 2023 - Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) ("Sylla" or the "Company") is pleased to announce that Phase 2 reverse circulation (RC) and air core (AC) drilling operations has commenced drilling on its Niaouleni Gold Project ("Niaouleni") in southern Mali (Figure 1).

The purpose of the Phase 2 drilling program is to:

• Complete step out drilling from previous high grade drilling intercepts
• Expand the mineralized footprint of Niaouleni South target to both the north and south.
• Further define the structural geometry of the interpreted Kobada Shear extension on the property

The planned drilling program is comprised of approximately 1,600 m of AC drilling followed by 2,330 m of RC drilling along several drill fences. The drilling is designed to expand the footprint of mineralization at Niaouleni South and further test adjacent geochemical anomalies.

Regan Isenor, President and CEO of Sylla commented, "We had great success in our maiden 2022 drilling program establishing numerous thick, high-grade gold intercepts and developing a better understanding for the structure and mineralization within the Kobada Shear. Our technical team has designed this next drilling program to rapidly expand the area of gold mineralization at the Niaouleni South target, through step outs to both the north and south."

Niaouleni Project

The Niaouleni Project is 17,200 hectares size and accessible by paved highway and includes extensive artisanal mining activity within the interpreted extensions of gold bearing structures. Niaouleni is strategically located roughly 3km south of Toubani Resources Kobada deposit within the emerging Niaouleni-Kobada-Sanankoro Corridor (Figure 2). Sylla Gold's maiden drilling program was completed between April and July 2022 and included 57 reverse circulation (RC) drill holes (7,305 m) and 212 air core (AC) drill holes (10,600 m) completed along several drill fences. These drill holes targeted the Niaouleni South, Lebre Plateau and Kankou Moussa prospects along the Kobada Shear, and the Gouingouindougou target located on the Gosso Shear. These targets were all previously defined by termite mound and soil geochemistry results. Assay results from the RC and AC drilling programs were released by the Company in news releases dated August 29, 2022, September 13, 2022, and October 4, 2022. Significant assay highlights from the 2022 drilling program include 5.17 g/t Au over 25 m from drill hole NSRC22-018 and 2.13 g/t Au over 25 m from drill hole NSRC22-027

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.

Figure 1: Map of the Niaouleni Gold Project in southern Mali

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6472/152031_9387a3760420f907_001full.jpg.

Figure 2: Niaouleni-Kobada-Sanankoro-Corridor

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/6472/152031_9387a3760420f907_002full.jpg.

The Company also announces that is has entered into an investor marketing campaign agreement (the "Agreement") with Struthers Consulting and Market Report ("RSC") effective January 15, 2023. During the 12-month term of the Agreement, RSC will introduce the Company to RSC's audience of educated, active investors. RSC does not provide Investor Relations or Market Making services. RSC will receive a fee of $10,000 plus applicable taxes for the 12-month agreement. RSC is an arm's length party to the Company, and both are unrelated and unaffiliated entities. There are no performance factors contained in the Agreement and no stock options or other compensation are being granted in connection with the Agreement.

Cautionary Statements

This news release 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 mineral resources, geology, and mineralization on adjacent or similar properties is not necessarily indicative of the mineralization on the Niaouleni Project.

Qualified Person Statement

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

About Sylla Gold

Sylla Gold Corp. (TSXV: SYG) is a Canadian junior gold exploration company focused on the exploration and acquisition of gold properties in West Africa including Mali, and adjacent to known gold deposits.

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152031