SOMA GOLD EXTENDS ATENAS ZONE WITH 45.2 g/t Au OVER 5.5 m AT CORDERO MINE, COLOMBIA

The news release from December 2, 2025, announces high-grade gold intercepts from an ongoing diamond drilling program at its Cordero Mine in Colombia. The program, which has completed 38 holes for 6,737 meters, was designed to define and extend known veins. The headline result is from drill hole BASDDH-25-036, which intersected 45.2 g/t gold (Au) over a width of 5.55 meters, extending the high-grade Atenas zone. The release also notes the successful closing of the previously announced purchase of the Escondida Mine.

This is a materially positive news release. The headline drill intercept of 45.2 g/t Au over 5.55 meters is exceptional and demonstrates significant high-grade potential at the company's core producing asset. From a risk-averse perspective, successful exploration that can add high-grade, easily accessible ounces to a mine plan is a crucial de-risking event that enhances future profitability and extends the mine's life.

Analyzing this news in the context of the historical releases is critical: - Pre-Strike Period (Jan - Aug 2025): The company was executing well. It reported strong financial results (Q1, Q2) driven by high gold prices, advanced exploration, acquired the La Escondida mine, initiated the restart of the El Limon mill, and significantly strengthened its balance sheet through a heavily oversubscribed $17.25 million financing at $1.15 per unit. A key positive signal was the conversion of $10 million in debt by an insider at the same financing price, demonstrating strong internal confidence. - The Strike (Sept 10 - Nov 5, 2025): A 57-day labor strike halted operations, introducing significant operational and financial uncertainty. This was a major setback. - Post-Strike Fallout (Nov 14 - Nov 28, 2025): The company quantified the strike's impact, announcing a ~5,000 ounce reduction in 2025 production and a delay in the El Limon mill ramp-up to early January 2026. The Q3 financial results released on November 28 confirmed the damage: revenue and net income were down sharply, and the company revealed operations were only at 75% capacity due to necessary repairs, with full capacity not expected until mid-December.

The December 2 drill results are perfectly timed to counter the negative sentiment from the strike and the poor Q3 financials. While the company's immediate challenge is to restore full operational capacity and manage the financial impact of the shutdown, this exploration success shifts the narrative back to the long-term, high-quality nature of the Cordero asset. It reminds the market that despite recent operational struggles, the underlying geology is robust and holds potential for significant resource growth. These results support the thesis that Cordero is a high-grade system capable of feeding the mills for years to come, which is fundamental to the company's value.

Soma Gold Corp. is a gold mining company focused on production and exploration in Colombia. Its flagship asset is the El Bagre Gold Complex in Antioquia, Colombia, which includes the producing Cordero Mine and the El Bagre processing plant. The company is also restarting its nearby, wholly-owned El Limon mill to significantly increase its total processing capacity. Soma controls a large and prospective land package along the mineral-rich Otu fault system.