July 24, 2026 – Vancouver, British Columbia – Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma”) is pleased to announce that Colombia’s Agencia Nacional de Mineria (“ANM”) has approved an increase in production from 25 tons per day (“TPD”) to 75 TPD for Soma’s Aurora Mine. The new permiso de trabajo de obra (“PTO”) was granted on July 17th, 2026, and is effective immediately. Production is expected to increase in the coming weeks to a range of 30-40 TPD at an average expected grade of approximately 4.5 gpt. Further increases beyond the authorized limit of 75 TPD will be determined by optimizing the mining method.
The approval, along with the restart of production at the Escondida and el Limón mines, brings the Company closer to achieving its production goals for the second half of 2026. The el Limón Mine has now been dewatered to Level 5, and repairs to the secondary emergency exit have been completed. A contract miner has been engaged, and production at el Limón is expected to begin in August.
At Escondida, the access road and conditions around the portals continue to be improved to enhance logistic and support more sustainable production. Extension of the shaft to the next production level, Level 170, will be completed by the end of July, when new headings will be opened. Production is temporarily slower than anticipated due to poor ground conditions at the current face, which require additional support. This is a temporary condition as the team works through the fractured zone.
The nine-hole diamond drill program at Escondida continues, with the third hole underway. The vein structure was intersected at the expected target depth and is consistent with the structure currently mined 25 meters to the southeast. Assays for the completed drill holes have been submitted to Actlabs Medellin, with results pending.
Geoff Hampson, Soma’s CEO, states: “We are very pleased to receive the approved PTO for Aurora, which allows us to increase production in line with our 2026 plan. We are encouraged by the progress made at Escondida in rehabilitating the two portals and shafts, positioning the mine for further growth. We remain on track to increase production at Escondida to 20 TPD by the end of the third quarter, and to the permitted 40 TPD by year-end. The mill feed from Aurora, Escondida and el Limón will add approximately 100-120 TPD to the current production of 400-450 TPD from the Cordero Mine.”
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 and approved the technical information disclosed in this press release.
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a profitable gold mining company focused on production and exploration in Colombia. The Company holds over 430 square kilometres of mineral concessions along the prolific OTU fault in Antioquia, and operates two fully permitted mills located within 25 kilometres of each other, with a combined milling capacity of 675 tpd and permitted expansion capacity of 1,400 tpd. The El Bagre Mill operates at 450 tpd, and the El Limon Mill resumed operations in Q3 2025. The Company finances its regional exploration program through internally generated funds.
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
“Geoff Hampson”
Chief Executive Officer and President
For further information, please contact Jeremy Rogers at jrogers@integritycapitalgrp.com
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 news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “target”, “project”, “forecast”, “budget” and similar expressions, and statements that an event or result “may”, “will”, “should”, “could”, “would” or “might” occur or be achieved and other similar expressions. All statements other than statements of historical fact contained in this news release are forward-looking information. Forward-looking information includes, but is not limited to, statements regarding: the completion of the Offering, including the expected Closing Date, gross proceeds, and use of proceeds; the Company’s plans to expand production at the Escondida and Aurora mines; the anticipated completion of ore sorting equipment installation; planned exploration activities at the Escondida property; the Company’s intention to pre-pay for ore purchases from small legal mines; expected improvements to output and operating margins; and the Company’s business strategy, plans, and objectives.
Forward-looking information is based on certain assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions, and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Forward-looking information involves known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this news release, and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
