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Sarama Resources Intersects High-Grade Mineralisation at Depth with Diamond and RC Drilling at the MM Prospect in the South Hounde Project in Burkina Faso

August 28, 2012

TSX-V Ticker:  SWA
SWA.WT

VANCOUVER, Aug. 28, 2012 /PRNewswire/ – Sarama Resources Limited (“Sarama” or the “Company“) is pleased to report that it has intersected further high-grade gold
mineralisation, including 10.2m @ 14.85 g/t Au and 13.9m @ 14.47 g/t
Au, and has extended known mineralisation to a depth of 300m during
extensional and infill drilling programs at the MM Prospect at its
South Houndé Project in south-western Burkina Faso.

Highlights

        --  Sarama has intersected further high-grade mineralisation with
            infill and extensional diamond and reverse-circulation ("RC")
            drilling at the MM Prospect.

        --  Infill drilling confirms continuity of major mineralised lenses
            within the MM system - individual lenses interpreted to extend
            for 1km along strike and at least 300m vertically.

        --  Mineralisation interpreted to form stacked lenses, 3-15m in
            width.

        --  High-grade intersection at 250m vertical depth indicates the
            strength and down-dip potential of the mineralised system.

        --  Downhole intersection highlights include:

                   DDH025     10.2m @        from     109.3m     incl. 0.6m
                              14.85g/t                           @ 62.90g/t
                              Au                                 Au

                   DDH045     14.0m @        from     176.5m
                              7.28g/t Au
                              (EOH)

                   DDH041     11.8m @        from     35.3m      incl. 5.5m
                              8.06g/t Au                         @ 13.97g/t
                                                                 Au

                   DDH021     14.0m @        from     6.0m
                              3.13g/t Au

                 DDH043**     13.9m @        from     333.2m     incl. 3.1m
                              14.47g/t                           @ 59.17g/t
                              Au                                 Au

                FRC152RE1     18.0m @        from     218.5m
                              2.49g/t Au

                   FRC342     7.0m @         from     39m        incl. 2m @
                              5.47g/t Au                         13.70g/t
                                                                 Au

                   FRC344     8.0m @         from     86m        incl.4m @
                              2.83g/t Au                         5.06g/t Au

** composite consists of 2 mineralised bands separated by 2.3m of
internal dilution

Sarama has received all assay results from recent infill and extensional
diamond drilling programs and outstanding assays from an earlier RC
drilling program at the MM Prospect which is situated on the Tankoro
exploration property at the South Houndé Project.

The RC drill program was designed to infill earlier step-out drilling to
a line spacing of approximately 100m. A majority of the results from
this program have been previously reported (refer Sarama News Release 4
May 2012) with 21 holes (approximately 2,200m) outstanding at the date
of the May news release.

The central 600m-long portion of the 1.5km strike length MM Prospect was
the focus of the diamond drilling program, following the results of
previous RC drilling which had identified the potential for multiple
closely-spaced mineralised lenses extending along strike and down dip. 
The program, comprising 58 oriented diamond holes for approximately
11,000m, was commissioned to investigate the style, grade, widths and
orientation of mineralisation within this area.

Results for 2,100m (12 holes) of the diamond drilling program were
reported previously (refer Sarama News Release 4 May 2012).  The
balance of results for the diamond and RC drilling programs are listed
in Appendices A and B respectively.

A majority of the diamond holes were drilled to a vertical depth ranging
between 160-200m, however selected holes were extended to an
approximate vertical depth of 330m to test for extensions of
mineralisation at depth.  RC holes were drilled to a vertical depth of
approximately 80m.

The MM mineralisation is mainly hosted in an array of stacked, steeply
dipping porphyry dykes trending north-north-east (refer Figures 1-3). 
The 6 major mineralised porphyry units vary in width from 3-15m and are
interpreted to form the western and eastern bounds of the known
mineralised zone.  These units demonstrate a high degree of continuity,
sometimes extending along strike for over 1km and down-dip for
approximately 300m.  A series of secondary mineralised porphyry units
trending north-east have also been interpreted in the central area of
the system as cross-over structures.

The drilling has intersected high-grade mineralisation at a vertical
depth of approximately 250m which demonstrates excellent potential for
extensions to mineralisation past the nominal 160m vertical depth limit
of drilling.  Of note are the particularly strong grades and widths of
mineralisation on the 1176800mN section (refer Figure 2).

Sarama plans to re-commence fieldwork on the property in the upcoming
exploration season, initially focusing on areas where the mineralised
zones are most likely to extend along strike and/or dip as well as
near-field areas identified by recent RAB and RC scout drilling.

Sarama’s President and CEO, Andrew Dinning commented:

“We are extremely pleased with these results, particularly the deep,
high-grade intercepts seen at the MM Prospect which, when combined with
near-field RAB and RC scout drilling results previously reported,
reinforces our view that the Tankoro property has the potential to host
significant mineralisation.”  

For further information on the Company’s activities, please contact:

Andrew Dinning or Paul Schmiede
email:  info@saramaresources.com
telephone: +61 8 9363 7600

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

About Sarama Resources Ltd
Sarama Resources Ltd is a Canadian company with a focus on the
exploration and development of gold deposits in West Africa.  The board
of directors and management team, a majority of whom are founders of
the Company, are seasoned resource industry professionals with
extensive experience in the exploration and development of world-class
gold projects in Africa.

The South Houndé Project in south-west Burkina Faso is the Company’s
flagship property and is currently the focus of an aggressive
exploration program to test gold-in-soil anomalies located in a
20km-long structural corridor.  Recent drilling programs at the South
Houndé Project have intersected significant mineralisation in several
prospect areas which the Company is actively following up.  The Company
has built substantial early stage exploration landholdings in
prospective and underexplored areas of Burkina Faso (3,100 km²),
Liberia (>2,400 km²) and Mali (>1,200 km²) and is aggressively
exploring across the property portfolio.

Figure 1:    Cross-Section of Central Region (1177300mN) – Looking North

Figure 2:    Cross-Section of Southern Region (1176800mN) – Looking
North

Figure 3:    Cross-Section of Northern Region (1177700mN) – Looking
North

Caution Regarding Forward Looking Statements
Information in this news release that is not a statement of historical
fact constitutes forward-looking information.  Such forward-looking
information includes statements regarding the Company’s planned
exploration programs.  Actual results, performance or achievements of
the Company may vary from the results suggested by such forward-looking
statements due to known and unknown risks, uncertainties and other
factors. Such factors include, among others, that the business of
exploration for gold and other precious minerals involves a high degree
of risk and is highly speculative in nature; few properties that are
explored are ultimately developed into producing mines; geological
factors; the actual results of current and future exploration; changes
in project parameters as plans continue to be evaluated, as well as
those factors disclosed in the Company’s publicly filed documents.

There can be no assurance that any mineralisation that is discovered
will be proven to be economic, or that future required regulatory
licensing or approvals will be obtained. However, the Company believes
that the assumptions and expectations reflected in the forward-looking
information are reasonable. Assumptions have been made regarding, among
other things, the Company’s ability to carry on its exploration
activities, the sufficiency of funding, the timely receipt of required
approvals, the price of gold and other precious metals, that the
Company will not be affected by adverse political events, the ability
of the Company to operate in a safe, efficient and effective manner and
the ability of the Company to obtain further financing as and when
required and on reasonable terms. Readers should not place undue
reliance on forward-looking information.

Sarama does not undertake to update any forward-looking information,
except as required by applicable laws.

Notes -Drilling
Drilling results are quoted as downhole intersections.  True
mineralisation width is approximately 70-75% of intersection length for
holes drilled on east-west sections, dipping at -55° and intersecting
the NNE striking lenses.  Diamond holes DDH031, DDH032, DDH035, DDH037
and DDH038 were drilled on a nominal azimuth of 135° and are
interpreted to have very shallow intersection angles to mineralisation,
particularly the minor NE trending lenses.

The reported composites for RC and diamond drilling were determined
using a cut-off grade of 0.30g/t Au to select significant and anomalous
intersections, with a maximum of 2m internal dilution being
incorporated into the composite where appropriate.  No top-cuts were
applied to assay grades.  Isolated mineralised intersections less than
2m in length have not been reported.

For RC and diamond drilling, Sarama undertakes geological sampling and
assay in accordance with its QA/QC program which includes the use of
certified reference materials and duplicates.  No duplicates were taken
for the diamond drilling program.

Gold assay work for the RC and diamond drilling was undertaken by the
SGS S.A. (“SGS“) laboratories in Ouagadougou, Burkina Faso, Morila, Mali, and Kayes,
Mali. Assays are determined by fire assay methods using a 50 gram
charge, lead collection and an AAS finish with a 0.01g/t Au lower
detection limit.

RC drilling was generally designed using west-east oriented holes,
dipping at -55° to the east, approximately 100m in length.  Holes were
spaced approximately 40-60m apart along the drill lines.  RC drill
cuttings were sampled over regular 1m composited intervals.

Diamond drilling was generally designed using west-east oriented holes,
dipping at -50° to -55° to the east, approximately 200m in length. 
Holes were spaced approximately 40-60m apart along the drill lines. 
Diamond core was logged and sampled according to geological intervals. 
Samples submitted for assay were half core.

Qualified Person’s Statement
Scientific or technical information in this news release that relates to
the Company’s exploration activities in Burkina Faso is based on
information compiled or approved by Michel Mercier.  Michel Mercier is
an employee of Sarama Resources Ltd and is a member in good standing of
the Ordre des Géologues du Québec and has sufficient experience which
is relevant to the commodity, style of mineralisation under
consideration and activity which he is undertaking to qualify as a
Qualified Person under National Instrument 43-101.  Michel Mercier
consents to the inclusion in this report of the information, in the
form and context in which it appears.

Appendix A – Significant Diamond Drill Results

Appendix B – Significant RC Drill Results

SOURCE Sarama Resources Limited


Source: PR Newswire