SONORO GOLD ANNOUNCES LETTERS OF INTENT TO ACQUIRE ADJACENT MINERAL CONCESSIONS TO FURTHER EXPAND THE CERRO CALICHE GOLD PROJECT

Sonoro Gold, through its Mexican subsidiary, has executed three binding Letters of Intent to acquire 100% of 24 mineral concessions (5,025 ha) for US$6.0 million plus assumption of ~US$0.99 million in concession fees, plus an option to earn up to 51% of five additional concessions (454 ha) by spending up to US$9 million on exploration over four years. The transactions more than double the Cerro Caliche project area, from approximately 4,000 ha to 9,001 ha (with a potential further 454 ha). No securities or royalties are issued to the vendors. The company highlights that the expanded ground covers multiple mineralized targets along a corridor stretching from the Agnico Eagle Santa Gertrudis deposit in the north to the Highlander Silver Mercedes Mine in the southeast. The acquisition complements the already-commenced 50,000‑meter drill program and the ongoing permitting process for a 16,000 tpd open‑pit heap‑leach operation.

This acquisition is a significant enlargement step that materially improves the project’s optionality. Historical news shows a pattern of incremental land consolidation: in January 2026 the company added 2,574 ha (taking the project to ~3,924 ha), followed by the smaller Diana concession (51 ha) in April. Now, the company has jumped to over 9,000 ha in a single deal. The expansion adds targets that the CEO explicitly links to a mineralized corridor between two known deposits, raising the potential for a much larger resource than the current M&I of 6.23 Moz AuEq and Inferred of 1.04 Moz AuEq. Because the transaction arrives just as the company is mobilizing its largest-ever drill program (50,000 m) and after the release of a robust PEA (after‑tax NPV₈ $224 M, IRR 50% at $3,500/oz gold), it creates a clear path to test the newly acquired ground immediately. The absence of share issuance or royalties preserves the capital structure. While the purchase price ($6 M cash) and future exploration commitments ($9 M on the option) will increase near‑term spending, the cash position was recently bolstered by an oversubscribed $12.2M private placement. Given the company’s small market cap (~$91 M at the presentation date), a tripling of the land package in a proven gold belt is genuinely new and market‑moving information that can lead to a re‑rating of the stock. Therefore, the news carries a material positive impact.

Sonoro Gold Corp. is a Canadian‑listed junior gold developer focused on bringing the Cerro Caliche oxide‑gold project in Sonora, Mexico, into production. The company also holds the earlier‑stage San Marcial gold‑silver project. The flagship Cerro Caliche is an open‑pit, heap‑leach operation with a 2026 PEA demonstrating a 10‑year mine life at 16,000 tpd, after‑tax NPV₈ of US$224 M, IRR of 50%, and a 1.7‑year payback at $3,500/oz gold. The resource base (2026 MRE) stands at 51.8 Mt Measured & Indicated grading 0.37 g/t Au (6.23 Moz AuEq) and 8.8 Mt Inferred (1.04 Moz AuEq). The project is in the final permitting stage, with only ~30% of identified mineralized zones drill‑tested before the latest expansion. Surface rights are secured over 5,007 ha via a long‑term lease. The company is currently executing a 50,000‑meter drill program to expand and upgrade resources.