SONORO GOLD COMPLETES FINAL CONCESSION PAYMENT AND PROVIDES CORPORATE UPDATE

On October 30, 2025, Sonoro Gold announced it had made the final payment of US $919,907.71 to acquire a 100% interest in the El Rosario mineral concessions. These concessions represent 30% of the surface area of the flagship Cerro Caliche project. As part of the agreement, the vendor was granted a 2% Net Smelter Returns (NSR) royalty, which Sonoro can purchase for US $1,000,000 per percentage point.

With this payment, Sonoro now holds 100% of all 15 mineral concessions for the project.

Concurrently, the company announced the resignation of Salil Dhaumya as Chief Financial Officer (CFO). Katharine Regan, a current board member and Corporate Secretary, has been appointed as Interim CFO.

The news is materially positive, primarily due to the consolidation of 100% ownership of the mineral concessions for the Cerro Caliche project. This is a critical de-risking milestone that was a stated use of proceeds from the recently closed $4.1 million financing.

• Positive: Securing 100% ownership of the mineral concessions is a fundamental prerequisite for advancing to project financing and construction. It removes a significant counterparty and ownership risk. This demonstrates management is executing on its stated plan, using the funds as promised. This achievement, combined with the previously secured surface rights, significantly strengthens the company's position as it moves through the final permitting stages.

• Neutral/Slight Negative: The resignation of a CFO always introduces a degree of uncertainty. However, the appointment of an existing board member as interim CFO suggests a controlled transition rather than an acrimonious departure. This mitigates the risk, but the lack of a permanent CFO is a small negative that needs to be resolved.

• Expectations: This news was largely expected. The October 2, 2025, financing announcement explicitly stated that proceeds would be used to "complete the final payment due under the Rosario option agreement." Therefore, while the event is material to the project's development, it does not come as a surprise to the market. It is the fulfillment of a prior commitment.

Overall, the positive impact of securing full ownership of the project outweighs the minor uncertainty from the CFO change. The company has successfully cleared a major hurdle on its path to development.

Sonoro Gold Corp. is a Canadian exploration and development company focused on its flagship Cerro Caliche gold project in Sonora, Mexico. The project is envisioned as an open-pit, heap leach mining operation. The company has advanced the project through multiple drilling campaigns and economic studies and is currently in the final permitting stage. The October 2023 PEA showed an after-tax NPV(5%) of US$77 million and an IRR of 63% using a $2,000/oz gold price. The company also holds the earlier-stage San Marcial gold-silver project.