Control and Direction Over Common Shares and Warrants of Sarama Resources Ltd.

SUN VALLEY, Idaho, Aug. 5, 2021 /CNW/ - ("Sun Valley") announced today that its ownership interest in Sarama Resources Ltd. ("Sarama") has decreased following completion by Sarama on July 29, 2021 of a private placement of 9,727,037 units, each unit comprising one common share and half of one common share purchase warrant. Neither Sun Valley nor Sun Valley Gold Master Fund Ltd. (the "Master Fund"), a client account over which Sun Valley has discretionary trading authority, acquired any securities in the private placement.

Following completion of the private placement, Sun Valley continues to exercise control and direction over 15,433,333 common shares of Sarama on behalf of the Master Fund. Such shares, represent approximately 15.46% of the issued and outstanding common shares of Sarama.

Sun Valley and the Master Fund may increase or decrease their ownership of securities of Sarama depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:

SOURCE Sun Valley Gold LLC