SOMA GOLD IMPROVES EL BAGRE PROCESSING CIRCUIT, NEARS COMPLETION AT EL LIMON MILL, AND REDUCES DEBT

Cision Canada

19-06-2025

Highlights:
Rehabilitation of the El Bagre floatation circuit is complete, and full production throughput has resumed.
Construction of the additional leach tank at El Bagre Mill is complete with and the oxygen plant, motors, and controls are scheduled to be installed in July.
An additional C$1.0 million repayment was made on the Conex Loan.
Rehabilitation of the El Limon Mill will be completed by the end of June, with production ramp-up expected in Q3.
Stockpiling of ore at El Limon is underway.
VANCOUVER, BC, June 19, 2025 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the " Company" or " Soma") is pleased to provide an operational and corporate update. In May 2025, Soma made a C$1.0 million principal repayment on the Conex loan in addition to the C$2.5 million repaid in March. The Company intends to continue repaying the loan from free cash flow through the remainder of 2025 and beyond. The terms of the loan require a balloon payment of principal and accrued interest on July 31, 2030. There are no penalties for partial or full early repayment.
Rehabilitation of the El Limon Mill is progressing on schedule, with commissioning and testing beginning by the end of June. A 3,000-tonne stockpile is currently being built on site. Ore processing is expected to begin in late June or early July, and production will ramp up to 100 tonnes per day (TPD) over a 60-day period, with further throughput increases planned thereafter.
The construction of a new 20x20 leach tank at El Bagre Mill is complete. Installation of the oxygen generator, internal mechanisms and controls is underway and expected to be completed and online by early August. All required components are on site. The new tank will increase leach residence time and is expected to improve gold recovery.
The Company has experienced minor recurring mechanical issues with the floatation circuit at the El Bagre Mill, resulting in reduced throughput. To address this, Soma's operations team implemented a full replacement of the gear mechanisms and controls of both floatation tanks. These upgrades were performed sequentially, temporarily reducing throughput to 50%. Repairs are now complete, and the mill has resumed full production.
Geoff Hampson, Soma's President and CEO, states, "We are very pleased with the progress at the El Limon Mill. The rehabilitation project is on schedule and below budget. El Limon was Soma's first Colombian asset, acquired in 2017. After investing approximately C$3 million over two years to expand the mill's capacity from 50 TPD to 225 TPD, the mill was placed on care and maintenance in 2019 following the acquisition of the El Bagre Mill. It has always been the goal to bring El Limon back online once sufficient feed material was available. We are pleased to be able to feed both mills and look forward to having them both operating in the coming months, increasing overall throughput and gold production by 20-40%. The restart of El Limon, combined with floatation and leaching improvements at El Bagre, positions Soma for higher production levels in 2026 and beyond."
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
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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.