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Sonoro Gold Corp. (TSXV: SGO,OTC:SMOFF | OTCQB: SMOFF | FRA: 23SP) ("Sonoro" or the "Company") is pleased to provide a Corporate Update on the Company's two mineral projects located in Sonora, Mexico.
Cerro Caliche Gold Proje ct
Sonoro intends to commission an updated Preliminary Economic Assessment ("PEA") on its flagship Cerro Caliche Gold project currently in the permitting phase for a proposed open pit, heap leach mining operation. The project's current PEA was filed in August 2023 and contemplates an initial 9-year mining operation at 12,000 metric tonnes per day ("mtpd") with economic parameters based on a gold price of US $1,800 per ounce.
The updated PEA will reflect an increased gold price as well as higher capital cost and operating cost estimates. The updated PEA will also include a revised mine plan to align with recent updates to the project's Environmental Impact Statement, or Manifestacion de Impacto Ambiental ("MIA"). As stated in Sonoro's July 9, 2025 News Release, the recent revisions to the MIA optimize the project's footprint while ensuring the project also meets the highest social and environmental standards.
Mining construction and operational activities in Mexico require an approved MIA, as well as ownership of mineral concessions and surface rights. Sonoro holds 100% of the concession rights for the Cerro Caliche Gold project. In July 2025, Sonoro announced it had entered into a surface rights agreement with the owner of the Cerro Prieto Ranch to secure100% of the surface rights to the Cerro Caliche concessions and surrounding areas covering an initial 3,908 hectares.
Figure 1: Cerro Prieto Ranch Boundary map
Please click to view image
Commencing September 1, 2028, Sonoro's surface rights will expand to encompass the entire 5,007-hectare Cerro Prieto Ranch, including the surface rights to the neighbouring Cerro Prieto mine.
The updated PEA will be based on data derived from a total of 55,360 meters of drilling, together with trenching, supporting assays reporting on approximately 30% of the Cerro Caliche Gold project's identified mineralized zones. Sonoro's technical team is currently conducting an extensive review of the mineralization both within the previously drilled zones and the remaining 70% of the concession where limited drilling and extensive surface exploration have demonstrated mineralization in multiple northwest-trending vein structures. Future drilling campaigns are expected to proceed alongside the planned development of the proposed mining operation and will focus on expanding Cerro Caliche's resource estimate and extending the forecasted mine life.
The Company anticipates completing the updated PEA by the first quarter of 2026.
San Marcial Gold-Silver Project
Management is currently considering options for a strategic reorganization of the Company's assets, including consideration of a spin out of its San Marcial gold-silver project into its wholly owned subsidiary Oronos Gold Corp. ("Oronos").
Should such a transaction become effective, Sonoro shareholders would end up owning shares in two public companies: Sonoro, which will continue to focus on the development of the flagship Cerro Caliche gold project, and Oronos, which would focus on the exploration and development of the San Marcial gold-silver project.
Sonoro anticipates announcing results of its strategic review process by the end of 2025.
The San Marcial gold-silver project is located in the Santa Ana Municipality of Sonora, Mexico and is comprised of four contiguous mining concessions. Sonoro acquired the project in 2014 and holds 100% title to the concessions through its wholly owned Mexican subsidiary Minera Breco, S.A. de C.V. ("Breco"). The project overlays the historic Soledad and San Marcial mine sites and was the subject of drilling programs during the 1980s and 1990s.
Following the acquisition of San Marcial, an extensive mapping and soil sampling program was completed by Sonoro and, as previously disclosed, revealed anomalous zones with multiple structural trends with gold and silver mineralization. Management speculates the San Marcial project may have the potential for large gold-silver mineralization and believes further exploration is justified, including a large grid drill program at selected mineralized zones.
Management believes a strategic reorganization to spin out the San Marcial project has the potential to unlock currently unrecognized value of the project and fund development without diluting shareholders' holdings in Sonoro.
About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development Company holding the development-stage Cerro Caliche project and the exploration-stage San Marcial project in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.
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On behalf of the Board of Sonoro Gold Corp.
Per: "Kenneth MacLeod"
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. - Tel: (604) 632-1764
Email: info@sonorogold.com
Forward-Looking Statement Cautions:
This press release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Cerro Caliche project, and future plans and objectives of the Company, constitute forward looking information that involve various risks and uncertainties, including statements regarding completion of an updated preliminary economic assessment of the Cerro Caliche Gold project, the possible outcomes of an ongoing strategic asset review, the possibility of a transaction to spin out the Company's San Marcial gold-silver project, an application for a public listing of the shares of Oronos Gold Corp., and plans for further exploration of the San Marcial project. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility of unfavorable exploration and test results, the lack of sufficient future financing to carry out exploration and development plans and unanticipated changes in the legal, regulatory and permitting requirements for the Company's exploration programs. There can be no assurance that such statements 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company's complete public disclosure record on SEDAR at www.sedar.com.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act"
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
