Increase of 47% over January 2022
February 7, 2023, Vancouver, British Columbia, - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma”) is pleased to announce that gold production in January 2023, at its 100% owned, El Bagre, Colombia, gold mine, set a new monthly record of 2,680 AuEq ounces. Production was 24% ahead of the January 2023 budget of 2,166 AuEq ounces and 47% ahead of the production for the same period last year. Full-year production for 2023 is planned to be 35,500 ounces.
Javier Cordova, President and CEO, states, “Our team in Colombia has done an outstanding job of ramping up production by leveraging our new mechanized fleet to achieve the new mine plan. Integrating the new mining method and adding an experienced mining engineer like Mark Bren, VP of Operations, will ensure that we meet or exceed our production goals in the coming years.”
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.
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
“Javier Cordova Unda” Chief Executive Officer and President
For further information, please contact Andrea Laird, telephone: +1-604-259-0302
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.