SOMA EXTENDS THE CORDERO DEPOSIT WITH NEW VEINS 250 M SOUTH OF THE ATENAS ZONE

On December 12, 2025, Soma Gold announced drilling results from its Cordero Mine at the Bagre Project in Colombia. The drilling program, consisting of 19 holes for 5,587 meters, successfully extended the Cordero Deposit with new veins discovered 250 meters south of the Atenas Zone. This exploration work adds 518 meters of strike length to the deposit.

Key drill intercepts include: - CVDDH-25-018: 10.3 g/t Au over 1.0 meter - CVDDH-25-013: 9.4 g/t Au over 1.35 meters - CVDDH-25-015: 7.7 g/t Au over 1.5 meters and 6.6 g/t Au over 1.5 meters - CVDDH-25-009: 6.2 g/t Au over 2.35 meters

The Vice President of Exploration noted that these new veins are outside the 2023 NI 43-101 resource estimate and the company plans to incorporate them into the 2026-2027 mine plan.

The news is routinely positive. It demonstrates successful execution of the company's exploration strategy to expand its resource base and extend the mine life at its core asset. Identifying new veins outside of the existing resource is a clear positive for long-term planning and value creation.

However, the materiality of these results must be viewed in context: - Comparison to Previous Results: A news release just ten days prior (December 2, 2025) announced a spectacular intercept of 45.2 g/t Au over 5.55 meters at the Atenas Zone. The current results, while solid, are not of the same caliber and are unlikely to generate the same level of market excitement. - Operational Context: The company is just emerging from a significant operational disruption. A 57-day labor strike halted production from September 10 to November 5, 2025. The Q3 financial results (released November 28) confirmed the negative impact: 22 lost production days, a reduction of ~1,500 ounces of gold production, a $7.7M revenue hit, and a $3.1M EBITDA reduction. As of the Q3 release, the plant was operating at 75% capacity with a target of returning to full capacity by mid-December.

Therefore, while positive, this exploration news is secondary to the market's primary focus: confirming a smooth and sustained return to full production capacity. The results support the long-term thesis but do not materially alter the company's immediate financial outlook, which is wholly dependent on operational performance. The discovery of mineable, albeit not "bonanza," grade material is the expected outcome of a well-run exploration program for an operating company.

Soma Gold Corp. is a Canadian gold mining company focused on production and exploration in Colombia. Its flagship asset is the El Bagre Gold Mining Complex in Antioquia, Colombia. This complex includes the producing Cordero Mine and the El Bagre processing plant. The company is also recommissioning its second mill, El Limon, to increase overall throughput. Growth is focused on expanding the resource base at Cordero, developing satellite deposits like Aurora, bringing newly acquired mines like La Escondida into production, and exploring its regional land package (e.g., the Machuca project).