Sylla Gold Provides Update on Private Placement of Units

Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) ("Sylla" or the "Company") announces its intention to consolidate its issued and outstanding common shares (the "Common Shares") on the basis of three (3) pre-consolidation Common Shares for every one (1) post-consolidation Common Share (the "Consolidation"). No fractional Common Shares will be issued and any fractional Common Shares will be rounded down to the nearest lower whole Common Share.

The Consolidation is subject to the approval of the TSX Venture Exchange, applicable securities regulatory authorities, and the approval of the shareholders of the Company. The Company anticipates that it will hold its annual and special shareholder meeting in May, 2024.

Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) ("Sylla" or the "Company") is pleased to announce that it has entered into a share purchase agreement with Namibia Critical Metals Inc. ("NMI") to acquire four gold prospective properties encompassing 2,788 square kilometers, located in Namibia within the Central Namibian Gold belt. Sylla is to acquire a 95% interest in NMI's Namibian subsidiary that own the rights, title and interest to Grootfontein, Erongo, Otjiwarongo, and Kaoko Licences (Figure1).

Regan Isenor, President and CEO of Sylla, commented, "the Company is very pleased to acquire such an extensive land package of prospective ground in a truly emerging gold district. The Central Namibian Gold Belt continues to produce world class gold operations as well as new discoveries and we're looking forward to unlocking the value in these licences by applying some of the knowledge gained from the recent discoveries in the district. The licences Sylla is acquiring were assembled in proximity and on strike of significant operating gold mines and recent discoveries in favorable geology conducive to mineralization."

Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) ("Sylla" or the "Company") is pleased to announce that it has exercised its option to acquire a 100% interest in the Deguefarakole exploration licence at its Niaouleni Gold Project by issuing 3,000,000 Common Shares of the Company and amending the Option Agreement dated September 15, 2021 with Niaouleni Gold Inc. (the "Optionor") and Niaouleni Gold Mali SARL. The Deguefarakole licence is one of four exploration licences that comprise the Company's 17,200 sq. km. Niaouleni Gold Project located in the Republic of Mali.

The Niaouleni Gold Project is located in the Sanankoro-Kobada-Niaouleni Gold Corridor and all of the Company's exploration work to date has been completed within the Deguefarakole licence area which represents 9,200 hectares (Figure 1). Between August of 2022 and March 2023, the Company completed 76 reverse circulation drill holes on the Deguefarakole licence encountering anomalous gold grades over significant widths in 66 of 76 RC holes drilled on the property (see Sylla press releases dated August 29, 2022, September 13, 2022, and April 12, 2023). Drilling was mainly focused around the Niaouleni South Prospect. The Company's drilling activities extended the strike length at Niaouleni South to 700 m and remains open to the north, south and at depth. The Niaouleni South prospect sits approximately 6 km along strike from the Kobada gold deposit.

Sylla Gold Corp. (TSXV: SYG) (the "Company") is pleased to announce that, further to its press release of September 5, 2023, it has closed the second and final tranche of its previously announced non-brokered private placement through the issuance of 4,200,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of $210,000 (the "Offering"). The aggregate gross proceeds raised pursuant to the Offering was $452,500 through the issuance of an aggregate of 9,050,000 Units. Each Unit is comprised of one common share (each, a "Common Share") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.10 per Common Share for a period of eighteen (18) months from the date of issuance.