Increase of 32.6% over same period last year
April 4th, 2023, Vancouver, British Columbia, – Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma”) is pleased to announce that gold production in Q1 2023, at its 100% owned El Bagre, Colombia, gold mine, was 6,796 AuEq ounces. Production was 99.2% of forecast despite a seven-day interruption during the General Strike in the el Bagre region. Gold production was also 32.6% ahead of the same period last year. Full-year forecast production for 2023 remains unchanged at 35,500 AuEq ounces.
Javier Cordova, President and CEO, states, “The civil unrest in Antioquia that disrupted operations at the Company’s Cordero Mine and the el Bagre milling complex was a result of the Government’s efforts to curtail illegal alluvial mining in the regional river systems. Our relationship with the community remains strong, and our operations were temporarily halted only to ensure our employees’ safety. Despite the lost week of production and the associated ramp-up period when production re-started, the team has made great strides in increasing production in accordance with our 2023 operating plan.”
The Company also announces the addition of Jean-Francois Meilleur as Vice President – Capital Markets. Mr. Meilleur will be responsible for leveraging the operational and financial successes of the Company to facilitate further organic and inorganic growth.
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.
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
“Javier Cordova Unda”
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.
