Sarama Resources - Corporate Update

VANCOUVER, BC / ACCESSWIRE / January 15, 2021 / The Board of Directors of Sarama Resources Ltd. (TSXV:SWA) (the "Company") has granted 3,158,336 options to directors, officers, employees and consultants of the Company. The option grant is the result of the Company's annual compensation review. This granting of options is made in accordance with the Company's stock option plan which was approved by shareholders on September 17, 2020 and allows for the issuance of a number of options up to 10% of its rolling issued and outstanding common shares. The options have an exercise price of C$0.35, will immediately vest and are exercisable for a period of 3 years from the date of the grant thereof. The Company's 5-day and 20-day VWAPs at market close on January 14, 2021 was C$0.3130 and C$0.3135 respectively.

On January 8, 2021, 2,463,333 options granted on January 8, 2018 and exercisable at C$0.33 had expired.

Total options outstanding is 8,983,333.

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

Andrew Dinning
e: info@saramaresources.com
t: +61 (0) 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.

SOURCE: Sarama Resources Ltd.