Sylla Gold Corp. (TSXV:SYG) acquired Deguefarakole exploration licence from Niaouleni Gold Inc. by exercise of option agreement for XOF67.36 million February 21, 2024. Under the terms of the original Option Agreement, the final option payment required to exercise the Option included the issuance of 5,000,000 Common Shares of the Company and a cash payment of approx. XOF2.2 billion. Under the terms of the Amending Agreement, this has been reduced to the issuance of 3,000,000 Common Shares and the final cash payment requirement has been waived. The Company has issued 3,000,000 Common Shares to the Optionors, comprised of 2,000,000 Common Shares required to be issued up to the second anniversary of the Option Agreement, and the final issuance of 1,000,000 Common Shares on or before April 12, 2025. Upon issuance of the 3,000,000 Common Shares, the Option has been exercised in full and the Company has earned a 100% undivided interest in the Deguefarakole exploration licence. In connection with the exercise of the Option, the Optionor has reserved a 3% net smelter returns royalty in its favour, subject to the ability of the Company to purchase up to 2% of the NSR for a purchase price of approx. XOF899 million.

Sylla Gold Corp. (TSXV:SYG) completed the acquisition of Deguefarakole exploration licence from Niaouleni Gold Inc. by exercise of option agreement for XOF67.36 million on February 21, 2024.