February 3, 2021, Vancouver, British Columbia, - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: PRSRF) (formerly Para Resources Inc.) (the “Company” or “Soma”) is pleased to announce that the gold production at the Company’s Operadora subsidiary exceeded the planned 1,361 ounces by 22.2 %, with a total production of 1,663 ounces of Au.
In addition, the Fenix Portal, which will give the Company access to the Balvina Cordero deposit, is approximately 35% of the way to reaching the ore body at Level 3. This first phase of the decline totals 890 meters. The decline will then continue for an additional 610 meters to provide access to lower mine levels. The Company anticipates to commence mining on Level 3in Q2. The average grade in Balvina Cordero is 6.2 gpt versus the 3.6 gpt the Company has been mining at the Los Mangos and La Ye deposits. Mining will be fully ramped up in Q3 when the Company expects monthly gold production to increase proportionately.
Mr. Edwin Naranjo Sierra, FAusIMM, MSc, Senior Geologist and Director of Exploration for Soma Gold Corp. is the Qualified Person, within the meaning of NI 43-101. Mr. Naranjo is satisfied that the analytical procedures and best practices used are standard industry methodologies, and he has reviewed and approved the technical information disclosed in this news release.