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Soma Gold Announces Successful Resolution And The Lifting Of The Blockade At The Cordero Mine And El Bagre Gold Complex

10.07.2024  |  CNW

VANCOUVER, July 10, 2024 - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the "Company" or "Soma") is pleased to announce that, in cooperation with the Mayor and Municipality of Zaragoza and the local community, the issues pertaining to the paving of a local road have been resolved, and the blockade has now been lifted. The Company's workers will return to work for the Wednesday morning shift, and regular production is expected to ramp up by Wednesday.

The Company extends its gratitude to all the participants in the negotiations that led to this settlement. Management is pleased with the collaborative approach demonstrated in addressing the community's concerns and allowing employees to get back to work.

Geoff Hampson, Soma President and CEO, states, "While this temporary suspension of work is expected to result in the loss of approximately 700 ounces of AuEq production, we are confident that this shortfall can be recovered during the remainder of the year. As a result, we are maintaining our guidance for F2024."

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

"Geoff Hampson"
Chief Executive Officer and President

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.

SOURCE Soma Gold Corp.



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