April 10, 2025, Vancouver, British Columbia – Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma”) is pleased to announce that it has completed the purchase of two additional mining concessions from Grupo de Bullet SAS. These concessions are contiguous to the mining concession acquired by Soma’s Colombian subsidiaries on May 10, 2023. The consideration for the acquisition was US$50,000 plus a 2% NSR, which may be reduced to 1% at any time through a US$1 million payment. These concessions follow the OTU Fault, a crustal-scale fault structure that controls quartz veins and gold mineralization in the region. The acquisition of these concessions expands Soma’s coverage along the main mineral-bearing structure, which extends from Aris Mining’s (TSX: ARIS) Segovia Mine to Mineros’ (TSX: MSA) alluvial concessions located 36 km to the north.
Soma also announces that the negotiations to acquire and process mineralized rock from Denarius Metals Corp’s (CBOT: DMET) Zancudo Mine have been terminated due to restrictions under Denarius’ offtake agreement with Trafigura. Feed for the El Limon Mill will instead come from surplus production at the Cordero and Aurora Mines, as well as other formalized mines on the Company’s property.
Chris Buchanan, Vice-President of Exploration for Soma, states, “Ongoing drilling at the Colossa Mine indicates that the down-dip projection of the vein system extends to the northwest onto these new mining concessions. Our exploration team is excited to follow the veins onto these licenses. In addition, a regional soil grid contains anomalies along the northwestern edge, suggesting potential for new vein discoveries on these mining concessions. As a result, they have been included in our geophysics and LIDAR surveys, currently underway.”
Qualified Person Statement
Mr. Chris Buchanan, P.Geo, is Soma’s Vice-President of Exploration and a Qualified Person as defined by National Instrument 43-101. Mr. Buchanan has reviewed the technical information disclosed in this press release.
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia, with a combined milling capacity of 675 tpd. (Permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.
With a solid commitment to sustainability and community engagement, Soma Gold Corp. is dedicated to achieving excellence in all aspects of its operations.
The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.
On behalf of the Board of Directors
“C. Geoffrey Hampson”
Chief Executive Officer and President
For further information, please contact Andrea Laird, telephone: +1-604-259-0302
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.
