SONORO GOLD ANNOUNCES CONTINUED EXPANSION OF HIGHER-GRADE MINERALIZATION AT CERRO CALICHE

Sonoro Gold Corp. released assay results on October 1, 2026, from 26 additional reverse circulation (RC) holes at its Cerro Caliche gold project in Sonora, Mexico. This latest batch brings the total for the 2026 drilling campaign to 72 holes and 14,086.35 meters, part of an announced 50,000-meter program.

The new data covers two distinct areas: 14 RC holes at the newly acquired Diana concession, which serves as a northern extension, with assays for 10 of the 14 holes received; and 12 RC holes at the newly identified La Colorada zone, located approximately 300 meters west of the proposed open-pit heap-leach area.

The reported highlight composites used a cut-off of 0.13 g/t Au, were uncut, and selected intervals graded at or above 1.0 g/t Au. Key results include:

• SCR-387 (Diana): 28.95 m @ 2.598 g/t Au (including 13.72 m @ 5.101 g/t Au) from 25.91 m, plus a separate 4.57 m @ 1.186 g/t Au from surface.
• SCR-396 (Diana): 47.24 m @ 1.552 g/t Au (including 6.10 m @ 5.623 g/t Au; including 3.05 m @ 7.433 g/t Au) from 53.34 m.
• SCR-391 (Diana): 32.00 m @ 1.846 g/t Au (including 4.57 m @ 10.430 g/t Au) from 10.67 m.
• SCR-386 (Diana): 18.29 m @ 1.239 g/t Au (including 3.05 m @ 5.541 g/t Au) from 15.24 m.
• SCR-398 (Diana): 56.39 m @ 0.410 g/t Au (including 3.05 m @ 2.102 g/t Au) from surface.
• SCR-390 (Diana): 44.19 m @ 0.480 g/t Au from 6.10 m.
• SCR-392 (Diana): 30.48 m @ 0.471 g/t Au.
• SCR-393 (Diana): 36.58 m @ 0.387 g/t Au.
• SCR-394 (Diana): 32.00 m @ 0.380 g/t Au.
• SCR-378 (La Colorada): 6.10 m @ 2.261 g/t Au (including 3.05 m @ 4.296 g/t Au).
• SCR-384 (La Colorada): 4.57 m @ 0.648 g/t Au (including 1.52 m @ 1.404 g/t Au).
• SCR-380 (La Colorada): 1.52 m @ 1.014 g/t Au.
• SCR-381 (La Colorada): 1.52 m @ 1.614 g/t Au.

True widths are estimated at 60%–90% of the drilled interval, with holes inclined at –45°. The company explicitly stated that these results do not constitute an updated mineral resource estimate.

Sonoro Gold Corp. (SGO) released drill results that do not constitute an earnings event. Prior-period financial context, not disclosed today, includes a FY-2025 net loss of C$5.41M, a Q1-2026 net loss of C$1.48M, and Q1-2026 cash of C$1.26M with a C$4.25M working-capital deficiency. The company is financing-funded, as expected at this stage.

The release provides the first-ever assay evidence that the Diana concession, acquired in 2026 as the northern extension, hosts a mineralized zone of several hundred metres' apparent extent. It also defines a wholly new La Colorada zone approximately 300 m west of the planned pit. This extends the mineralized system onto approximately 8,600 ha of newly acquired ground.

The results do not convert any of this to tonnes or to the 60.6 Mt resource. The grade-and-width substance, with best holes ranging from approximately 59–75 g.m and 1.5–2.6 g/t over 29–47 m downhole, is comparable to, not materially better than, the previous 2026 campaign results. The best hole from the September 1 release, SCR-340, returned 18.29 m @ 3.392 g/t Au, 44.3 g/t Ag, and approximately 62 g.m. These figures are well inside the range already demonstrated on the original property, where historic results include SCR-286: 27.43 m @ 5.36 g/t and SCR-045: 12.19 m @ 11.22 g/t.

The expectation anchor is the September 1, 2026 campaign result, which is not embedded in the current valuation. The stock fell from approximately $0.20 on September 1 to $0.17 on September 30 through the month and is at its lowest close of the past twelve months, having round-tripped from the $0.32 January 2026 peak. The market is not paying for these drill results to be repeated; the price driver is the Semarnat permit and the heap-leach build.

Sonoro Gold Corp. is a approximately C$73M developer with a published 60.6 Mt resource and a US$224M after-tax NPV8 PEA, not a micro-cap pre-resource explorer. A genuine change to the resource, the mine plan, or the permit would move the equity far more.

Because the anchor is not embedded, an in-line-to-slightly-better result is a mild positive rather than a miss. It is not materially better than anything previously demonstrated; it is more of the same mineralogy on new ground.

Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) is a Vancouver-based explorer and developer focused on the Sonora region of Mexico, having raised over C$67.7M to date. The company’s flagship asset is the Cerro Caliche project, an oxide gold-silver, low-sulphidation epithermal system featuring more than 25 northwest-trending mineralized zones. The property has been expanded to a projected ~9,455 ha through a series of 2026 concession acquisitions, including Diana, El Rosario, northern and eastern extensions, and a 51% option over 454 ha.

An effective resource estimate dated December 2025 and updated in March 2026, based on 498 holes totaling 55,360 m, defines 51.8 Mt of Measured and Indicated resources at 0.37 g/t Au (6,230 koz AuEq) and 8.8 Mt of Inferred resources at 0.33 g/t Au (1,040 koz AuEq), for a total of ~60.6 Mt. A Preliminary Economic Assessment (PEA) filed in April 2026, using base case prices of US$3,500/oz Au and US$48/oz Ag, outlines a 10-year open-pit heap leach operation at up to 16,000 tpd. The project is projected to produce ~459 koz AuEq over its life, yielding a pre-tax NPV8 of US$360M and an IRR of 65%, alongside an after-tax NPV8 of US$224M and an IRR of 50%. Initial CAPEX is estimated at US$83M, with cash costs of US$1,842/oz and AISC of US$1,902/oz. The project features a 1.7-year payback period and recoveries of 72% Au and 27% Ag. Sonoro is in final permitting, with MIA/CUS review by Semarnat, holding 100% surface rights and 100% concession ownership on the original ground.

The company also holds the San Marcial gold-silver project, a 100%-owned asset covering ~1,000 ha, which is proposed for spin-out into Oronos Gold Corp. Sonoro has approximately 432.14M shares outstanding and ~646.44M fully diluted shares. The capital structure includes a heavy warrant overhang with strike prices of $0.07, $0.14, $0.22, $0.28, $0.32, and $0.34. Insider ownership stands at ~23%, while Palisades Goldcorp holds ~8.7% basic (~14.8% fully diluted). The company’s market cap is approximately C$73M at a share price of $0.17.