Sarama Resources Provides Update on Permitting and Corporate Activities

VANCOUVER, BC / ACCESSWIRE / June 14, 2021 / Sarama Resources Ltd. ("Sarama" or the "Company") is pleased to announce an update on progress with permitting and corporate activities.

PERMITTING

Sarama is pleased to report that the Minister of Energy, Mines & Quarries of the Government of Burkina Faso has issued a notice regarding numerous Exploration Permits that had reached the end of their renewal periods, including three which form part of the Company's 100%-owned Sanutura Project. As a consequence, Sarama anticipates that all such permits will be prioritised for processing and reissued to the incumbents.

Pursuant to the above determination, the Company's applications have now progressed to the next stage of processing and as the Company receives more detail on the timing of granting, and any conditions that may be imposed by the Government, it will inform the market accordingly.

The Company, along with multiple other mining and exploration companies operating in Burkina Faso, had been anticipating progress with licence re-issues and is pleased to have reached this important milestone. Sarama will continue to work closely with the Ministry of Energy, Mines and Quarries to expedite the re-issue of its permits which include the Tankoro and Djarkadougou Exploration Permits.

CORPORATE

Sarama remains actively engaged with leading Australian resources broker, Euroz Hartleys, for its proposed dual listing on the Australian Securities Exchange ("ASX"). The Company anticipates being able to recommence the ASX listing process when the Exploration Permit re-issue process has advanced further and timelines are more definitive.

The ASX listing process remains well advanced and prerequisite documentation is largely complete, including advanced drafts of the Independent Technical Assessment Report, Investigating Accountant's Report, Solicitor's Report and Prospectus.

Proceeds raised pursuant to the dual listing on the ASX will primarily be used to expedite an extensive drilling campaign totalling approximately 50,000m at the Sanutura Project. The planned drill programs aim to augment and upgrade the currently defined oxide and free-milling mineral resources, to test high-priority targets identified through previous grassroots exploration that have the potential to significantly impact project growth, and to evaluate early-stage targets.

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