The Conversation (0)
Soma Gold Corp. (TSXV: SOMA,OTC:SMAGF) (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,OTC:SMAGF) 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 Tucum, 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.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2026/24/c1243.html
