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Sranan Gold Corp. (CSE: SRAN,OTC:SRANF) (OTCQB: SRANF) (FSE: P84) (Tradegate: P84) ("Sranan" or the "Company") is pleased to report high-grade gold assays from the first batch of samples from its Lawatino Property, located in Suriname. The initial results from the Phase I reconnaissance program returned numerous assays greater than 1 gram per tonne ("gt") gold (see Table 1) including one sample of a mineralized quartz vein that graded 101.5 gt gold (see Figures 1 and 4).
The +1 g/t gold grab samples were collected in two areas of historical artisanal surface mining referred to as the 101 and Bodoe Zones (see Figure 2). The two Zones are separated by approximately 1.5 kilometres, in a northwest-southeast direction, situated sub-parallel to the Central Guiana Shear Zone ("CGSZ"). The 101 and Bodoe Zones occur in an area of relatively low fracture density (see Figure 3), a pattern consistent with known gold occurrences observed elsewhere in the region. The area between the two Zones has yet to be sampled. The CGSZ, the primary regional structure, which trends across the Lawatino concession, influences the gold mineralization at the adjacent Founders Metals' Antino Gold Project and Miata Metals' Sela Creek Project, two of the most active gold exploration projects in Suriname.
Figure 1. In-situ quartz vein from the 101 Zone grading 101.5 g/t Au, with semi-massive pyrite, hosted in sheared basalts
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Commenting on the initial results from the Lawatino reconnaissance program, Oscar Louzada, Chief Executive Officer of Sranan Gold stated, "In less than a month after mobilizing our geological team, initial sampling has identified two showings of high-grade gold mineralization supporting our view that the Lawatino Property has the potential to host significant gold mineralization. The 101 Zone and Bodoe Zone lie 1.5 kilometres apart along the same NW-SE structural trend. Over the next few weeks, an excavator will be mobilized onto the Property to not only expose the extent of the gold mineralization at the 101 and Bodoe Zones, but to cut regularly spaced trenches along the 1.5-kilometre trend separating the two zones. It is important to stress that we have only just started examining the 18,468-hectare Lawatino Property and, considering the widespread historical alluvial mining on the Property, we are confident that Sranan will continue to identify further high priority gold showings."
Table 1 - Summary of Rock and Float Grab Samples with Assay Grading +1 g/t Au
| Sample | Gold Grade (g/t Au) | Location | Notes |
| J809034 | 101.50 | 101 Zone | Quartz vein with massive pyrite in saprolite |
| 1830750 | 4.24 | 101 Zone | Echelon, quartz veins in coarse-grained granite |
| J809031 | 1.58 | 101 Zone | Quartz vein float with FeOx staining |
| J809028 | 1.43 | 101 Zone | Saprolite - 50% limonite, 40% hematite & 10% clay |
| 1830751 | 1.88 | 101 Zone | Weathered FeOx boxwork near old tailings |
| J809061 | 15.73 | Bodoe Zone | Quartz vein float with FeOx staining |
| J809063 | 7.25 | Bodoe Zone | Quartz vein float with FeOx staining |
| J809059 | 3.72 | Bodoe Zone | Quartz vein float with FeOx staining |
| J809062 | 2.70 | Bodoe Zone | Intensely weathered basalt with quartz veining and FeOx along fractures |
| J809060 | 2.07 | Bodoe Zone | Quartz vein float with FeOx staining |
| J809058 | 1.34 | Bodoe Zone | Quartz vein float with FeOx staining |
Figure 2. Geology map, Lawatino Gold Project. Modified after Kroonenberg et al. 2016
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Figure 3 - Location of the 101 and Bodoe Zones & Fracture Density, Lawatino Gold Project
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Figure 4 - Assay results from the 101 and Bodoe Zones, Lawatino Gold Project
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Reconnaissance Sampling Program
The 11 samples grading greater than 1 g/t Au were part of the first batch of 43 assays received from the reconnaissance program. In addition to the +1 g/t Au samples, 4 samples grading between 0.17 and 0.24 g/t Au were returned. Initial sampling targeted easily accessible areas of historic artisanal mining. Rock and saprolite samples are representative grab samples collected over the immediate area of the in-situ sampled outcrop or weathered surface. A sample was classified as float, typically quartz vein material, if it could not be clearly identified as being in-situ.
Quality Control & Quality Assurance
Samples are collected by Sranan geologists and placed into sample bags. Sample details, including location, are recorded via tablet and synced using the Bedrock application (Rogue Geoscience). Each sample is tagged with a barcode which is, in turn, scanned via the Bedrock application. The unique identification barcode is placed into each bag and the bags secured. A reference piece of the sampled rock is separately collected, appropriately numbered and stored for reference. Samples are securely stored at the Sranan exploration camps. On a weekly basis, samples are placed in large shipping bags, sealed and shipped to the Filab preparation facility located in Paramaribo, Suriname. Samples are processed and assayed by Filab, a Bureau Veritas Certified Laboratory (under ISO 9001:2015), which is independent of the Company. Samples are crushed to 75% passing 2.35 mm screen, riffle split (700 g) and pulverized to 85% passing 88 µm. Samples are analyzed using a 50-gram fire assay with an Atomic Absorption (AA) finish. All samples >2 g/t Au are re-assayed with 50-gram re-assay and gravimetric finish. All samples with visible gold identified during sampling are re-assayed with 50-gram re-assay and gravimetric assay. During the reconnaissance sampling program, Sranan relies on standards inserted by Filab to identify issues with assay results. No data quality problems were indicated by Filab's QA/QC program.
Qualified Person
Mr. Michael Dufresne, M.Sc., P.Geo., a "Qualified Person" as defined under National Instrument 43-101 ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this release. Mr. Dufresne is independent of the Company, as that term is defined under NI 43-101.
About Sranan Gold
Sranan is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname. The Company is currently drilling its 29,000-hectare Tapanahony Project, located in one of Suriname's most prolific artisanal gold mining districts, and Sranan has recently commenced exploration activities at its recently acquired 18,468-hectare Lawatino Project, situated in southeastern Suriname along the Central Guiana Shear Zone.
For more information, please visit sranangold.com.
Contact Information
Oscar Louzada, CEO
+31 6 25438975
THE CANADIAN SECURITIES EXCHANGE HAS NEITHER APPROVED NOR
DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
Forward-looking Statements
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's exploration plans and results at its projects. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "goal", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things: the timing of exploration activities including drilling; the results of exploration activities; the realization of resource and reserve estimates; metal prices; taxation; timing and amount of future exploration and development; capital and operating costs; the availability of financing; the receipt of regulatory approvals; environmental risks; title disputes; and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
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