SOMA GOLD EXTENDS COPPER SOIL ANOMALY BY 2.5 KM, BRINGING THE TOTAL STRIKE TO 4.5KM

On November 18, 2025, Soma Gold announced an update on its soil sampling program at the Psyche 2 target within the Machuca Project in Colombia. The program successfully extended a previously identified copper soil anomaly by 2.5 kilometers, bringing the total strike length to 4.5 kilometers with an average width of 325 meters. The sampling also identified significant gold anomalies, with values up to 7.6 g/t Au and copper values up to 795 ppm. The company plans to initiate a maiden diamond drill program in late 2025 to test the underlying geology of these anomalies.

The exploration results are positive, indicating the potential for a large mineralized system at the Machuca Project and adding to the company's long-term growth pipeline. However, the news is routine in nature for an exploration company and represents very early-stage work. Soil anomalies require extensive and successful drilling to be proven as an economic resource, a process that is high-risk and takes considerable time and capital.

Critically, this positive but preliminary exploration update is completely overshadowed by the material negative news released just four days prior, on November 14, 2025. The post-strike update confirmed that 2025 gold production would be reduced by approximately 5,000 ounces and that the crucial ramp-up of the El Limon Mill would be delayed from mid-December to early January 2026. This has a direct, immediate, and negative impact on the company's revenue, cash flow, and ability to meet its near-term production goals.

Therefore, while the exploration news is encouraging for the long term, it does not mitigate the immediate operational and financial damage caused by the 57-day strike. The market will be far more focused on the company's ability to successfully restart operations, ramp up to full capacity, and hit the revised, lower production targets. The news is positive on its own, but its materiality is low given the much more significant operational context.

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, which includes the producing Cordero mine and the El Bagre mill. The company is in the process of restarting its second mill, the El Limon mill, which will be fed by ore from the Aurora and newly acquired Escondida mines, as well as from formalized small-scale miners. Soma also controls a large and prospective land package along the Otu fault, where it is actively exploring for new discoveries, such as at the Machuca project.