Sylla Gold Intersects 15 m of 4.92 gpt Gold at Niaouleni

Bedford, April 12, 2023 - Sylla Gold Corp. (TSXV:SYG) (OTCQB:SYGCF) ("Sylla Gold" or the "Company") is pleased to announce positive gold assay results from a drilling program of 19 reverse circulation (RC) drill holes totalling 2330 m completed within the Company's Niaouleni Gold Project ("Niaouleni") (Figure 1) in Southern Mali. Drilling was predominantly carried out at the Niaouleni South target located in the Niaouleni-Kobada Sanankoro Corridor (Figure 2).

• Extends the strike length of mineralization to 700 m at Niaouleni South.

• 7 high priority drilling target areas defined on the property.

Drilling Highlights:

• 4.92 g/t Au over 15 m from drill hole NSRC23-068
  • including 14.9 g/t Au over 4 m
  and 2.56 g/t Au over 7m

• 4.28 g/t Au over 6 m from drill hole NSRC23-060
  
  • including 17.7 g/t Au over 1 m

• 2.26 g/t Au over 8 m from drill hole NSRC23-059
  • including 10.6 g/t Au over 1 m

• 1.09 g/t Au over 10 m from drill hole NSRC23-073

• 1.13 g/t Au over 9 m from drill hole NSRC23-063

• 4.47 g/t Au over 2m from drill hole NSRC23-076

A summary of significant gold assay intercepts of these holes is shown in Table 1 and collar locations and depths for RC drill holes NSRC23-058 to NSRC23-076 are shown in Table 2.

Niaouleni South Drilling

This drilling was successful in extending the high-grade zone of mineralization at the Niaouleni South prospect for over 700 metres open at depth and to both the north and south. The Niaouleni South mineralized zone appears to occur along a substructure of the Kobada Shear which hosts the adjacent Toubani Resources' Kobada deposit which is located approximately 6 km north of Niaouleni South.

South Extension of Kobada Shear drilling

In addition to the drilling at Niaouleni South, hole NSRC23-076 was drilled near the northern boundary of the Niaouleni licence on the interpreted extension of the Kobada Shear and intersected 4.47 g/t Au over 2 metres. This hole was drilled as a follow up to mineralization outlined through previous AC drilling. Further drilling in this area is being planned.

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

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Regan Isenor, President and CEO of Sylla Gold, commented, "Our work at Niaouleni continues to build on our original hypothesis that this property has the potential to host multiple near surface gold deposits at the Niaouleni project on known shears and their subsidiary structures. This RC program has again been successful in identifying gold grades over significant widths in 18 of the 19 holes drilled, since beginning exploration on the property in April of last year the company has drilled a total of 76 RC holes encountering anomalous gold in 66 of those holes, suggesting the potential of the land package to host significant gold mineralization. The Niaouleni Gold project is located in a structurally complex gold mineralized corridor as shown in Figure 1. We are especially pleased with the results from hole NSRC-23-68 which extend the gold mineralized footprint due south of the main area of drilling at Niaouleni South In addition, the technical team has identified several target areas that require follow up drilling."

Figure 2: Niaouleni South Prospect Area

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Technical Overview of RC Drilling Program

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

• Continue 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 mineralized shear zones on the property.
• 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.
• Test the many other soil and termite anomalies on the land package.
• Test all target areas identified.

All gold-bearing intersections are hosted in metasedimentary saprolite with quartz veins. Geological interpretation for these drill holes is still preliminary and ongoing. A potential dilational flexure rendering the Niaouleni South trend close to N-S, compared to the NNE regional structural trend is interpreted. Inside this flexure, the highest grades appear to be hosted in E-W vein / veinlet clusters. 3D geological modelling has been started in an attempt to define N-S and E-W mineralization domains within the N-S trending mineralized corridor.

It is apparent that this gold mineralized corridor that hosts the Niaouleni and other gold deposits is structurally complex extending into Guinea and appears to have received several episodes of gold emplacement.

Drilling Targets

The Company has recently completed a target delineation program identifying 8 target areas at the Niaouleni Project (Figure 3) for drilling follow up. The targets areas are defined as:

1. Niaouleni South and Lebre plateau
   • The focus of the Company's RC drilling has produced numerous high-grade intercepts. Open to the north and south the Niaouleni South and Lebre plateau target area represents a strike length of 1.5 km. See map Fig 2.

2. Kankou Moussa Prospect
   • Sylla drilled 5.34 g/t over 3m (see Sylla press release dated September 13, 2022) at Kankou Moussa. The prospect is located within the Kobada Shear roughly 2km on strike of the Niaouleni South & Lebre Plateau target.

3. Niaouleni West
   • On the Company's recently acquired licence, the Niaouleni West target sits on the extension of the Kobada Shear with extensive artisanal workings. Past explorers on the property have produced exceptionally high anomalous gold values in soil samples. This is a high priority target.

4. Niaouleni Northwest Prospect
   • Historic work includes strong soil and termite mound geochemistry, the target area contains artisanal gold workings.

5. Samaya South
   • Located 3.5 km west of the Kobada deposit the Samaya South target area is host to extensive historical soil and termite mound sampling. The target area contains surface artisanal workings.

6. Goingoindougou East and Sananfara prospect.
   • Located within the inferred extension of the Kobada East Shear the Goingoindougou East and Sananfara prospect contains regional arsenic anomalies and artisanal gold surface workings.

7. Niaouleni East and Goingoindougou
   • High grade gold RC intercepts including 7m of 3.89 g/t (see Sylla press release dated September 13, 2022). Previous operators have encountered anomalous gold over wide widths at the target. Located on the inferred extension of the Gosso Shear the Niaouleni East and Goingoindougou prospect area is defined by a larger gold in soil and termite anomaly.

The Company's technical team is currently designing drilling programs to test each of the target areas.

Figure 3: Drilling target map

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Table 1: Significant RC drilling assay intercepts for Niaouleni Project (NSRC23-058 to NSRC23-076)

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.

Figure 4: E-W quartz vein cluster in the N-S corridor at Niaouleni

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Table 2: RC drill hole collar table for Niaouleni South (NSRC22-019 to NSRC22-057

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.

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 3km 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 an 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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