Sarama Resources acquisition update

Sarama Resources Ltd. (ASX:SRR) is making significant progress towards completing the acquisition of a majority interest in the Cosmo Gold Project in Western Australia. The acquisition has received strong support from shareholders at the Company's recent Annual General Meeting, and the majority of the key conditions precedent have been met. The Company anticipates the transaction to be completed in late October 2024. The 580km2 project covers the entirety of the Cosmo-Newbery Greenstone Belt and is located approximately 85km north-east of Laverton in a region known for its prolific gold endowment.

Executive commentary on Cosmo Gold Project acquisition

We are pleased to have made significant progress toward completing the acquisition of the Cosmo Gold Project which we view as a compelling opportunity for the Company. Sarama's shareholders voted overwhelmingly in favor of the Transaction, and we look forward to closing the deal and embarking on more extensive exploration programs which will follow on from field programs currently being mobilized.

Summary of Cosmo Gold Project acquisition update

Sarama Resources Ltd. is advancing towards completing the acquisition of a majority interest in the Cosmo Gold Project in Western Australia. The Company has received strong shareholder support and anticipates the transaction to be completed in late October 2024. The 580km2 project covers the entirety of the Cosmo-Newbery Greenstone Belt and is located in a region known for its prolific gold endowment. Sarama's President, CEO & MD, Andrew Dinning, expressed enthusiasm for the progress made and highlighted the shareholders' overwhelming support for the transaction. The Project presents a unique and compelling opportunity for the Company, and Sarama is looking forward to embarking on more extensive exploration programs following the completion of the acquisition. The Project, one of the last effectively unexplored greenstone belts in Western Australia, is expected to undergo soil geochemistry programs to generate regional targets in unexplored areas, providing a promising outlook for the Company's future endeavors.