108 g/t Gold and Visible Gold in Core

In gold investing, the most powerful gains are rarely made once a discovery is fully understood. They are made earlier - when evidence is accumulating, conviction is forming, and the broader market has yet to recalibrate its expectations. That is the phase Sranan Gold (CSE: SRAN; OTCQB: SRANF) is entering.

At the company’s Tapanahony Project in Suriname, a modern gold discovery is taking shape. The ingredients are increasingly hard to ignore: exceptional surface grades, encouraging drill results, district-scale geological potential, and now visible gold reported in drill core. Yet despite this growing body of evidence, Sranan trades at a market capitalisation of roughly C$17 million - still valued as an early-stage explorer rather than an emerging discovery story. In a strong gold market, such a disconnect rarely persists.

Tapanahony is located within the Guiana Shield, one of the world’s most prolific and underexplored gold belts. This is the same geological province that hosts multiple multi-million-ounce deposits and long-life producing mines. Gold systems in this region are typically large, structurally controlled, and capable of extending for kilometres both along strike and at depth. Sranan controls approximately 71,000 acres in this setting, giving it not just a single opportunity, but genuine district-scale exposure.

What first set Tapanahony apart was the gold itself. Local artisanal miners working shallow material recovered extraordinarily high grades, including values of up to 108 grams per tonne. While artisanal results are not a substitute for systematic exploration, history shows they are often the earliest signal of a robust underlying system. Many major gold discoveries were first flagged by surface workings long before modern drilling confirmed their scale.

Historic drilling conducted prior to Sranan’s consolidation of the project provided further confirmation that the gold was not confined to surface expressions. Broad zones of mineralisation were intersected, pointing to a structurally controlled system with depth continuity. Building on this foundation, Sranan has launched a 10,000-metre drill program aimed at defining scale, continuity, and structural controls.

Drill results reported so far have reinforced the picture. Intercepts such as 11 metres at 7.33 grams per tonne gold, alongside shorter but very high-grade intervals including 1 metre exceeding 40 grams per tonne, demonstrate that the system is capable of delivering both grade and width. Just as importantly, mineralisation remains open, indicating that what has been drilled to date may represent only a fraction of a much larger system still being delineated.

Adding a further layer of confidence, Sranan has also reported visible gold observed in drill core, as disclosed in its official news releases. This is a meaningful qualitative development. Visible gold is rarely encountered in early-stage drilling and is associated with strong mineralising events and well-developed structural controls. For investors, it provides tangible confirmation that the gold system being drilled is coherent, robust, and capable of hosting high-grade zones within a broader mineralised framework.

This observation is consistent with what is being seen across the project more broadly. Gold mineralisation has been identified along a surface trend extending approximately 4.5 kilometres, with multiple targets already defined and additional areas yet to be drill tested. The implication is increasingly clear: Tapanahony may host not isolated occurrences, but a large, continuous gold system with genuine scale potential.

The macro backdrop further amplifies the significance of these developments. Gold is trading around US$5,000 per ounce, and a growing number of market participants are openly discussing the prospect of materially higher prices ahead. In such an environment, discovery leverage increases sharply. Deposits that may once have required exceptional conditions to justify development can suddenly become highly attractive, while high-grade systems in proven jurisdictions command premium valuations and strategic interest.

Against this backdrop, Sranan’s valuation stands out. At approximately C$17 million, the company remains priced as an early-stage explorer despite mounting evidence that Tapanahony hosts a substantial gold system. There is no longer a question of whether gold is present. Gold has been confirmed at surface, at depth, across multiple targets, and now visually in drill core.

This is precisely the point in the exploration cycle where the risk-reward profile becomes especially compelling. The accumulating evidence at Tapanahony - exceptional surface grades, strong drill results, visible gold and geological scale - suggests that Sranan Gold is no longer exploring a concept. It is delineating a system.

Gold discoveries rarely offer second chances. By the time scale is undeniable and certainty is priced in, the re-rating has already happened. At Tapanahony, the signals are lining up: exceptional surface grades, repeatable high-grade drill intercepts, visible gold confirmed in core, and kilometre-scale potential, all unfolding in a US$5,000/oz gold market.

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