Sarama Resources Ltd. announce that it has signed a non-binding Memorandum of Understanding ("MOU") with Cosmo Gold Limited ("Cosmo") and Adelong Gold Limited ("Adelong") on 21 May 2024, to acquire rights to the Cosmo Newbery Project (the "Project"), located in Eastern Goldfields of Western Australia, which have historically been highly prospective. The acquisition will be subject to completion of due diligence, execution of a definitive agreement and satisfaction of certain Conditions Precedent including but not limited to, shareholder and stock exchange approvals and assignment of land access agreements. The MOU contemplates that Sarama will acquire this interest through a combination of share and cash payments and tenement expenditure.