SONORO GOLD ANNOUNCES FULLY-COMMITTED $11 MILLION PRIVATE PLACEMENT & 50,000 METER DRILLING PROGRAM

• On 7 Apr 2026 Sonoro announced a fully‑committed non‑brokered private placement of 45.83 M units at CAD $0.24 per unit, targeting gross proceeds of CAD $11 million.
• Units consist of one common share plus one warrant (exercise price CAD $0.32, exercisable for three years).
• Insiders will purchase 15.83 M units for CAD $3.8 million, a related‑party transaction under TSXV Policy 5.9/MI 61‑1101.
• Proceeds are earmarked to fund a two‑phase, 50,000 m reverse‑circulation drilling program at the Cerro Caliche project and to support permitting & development of an open‑pit, heap‑leach operation (target up to 16,000 t/d for an initial ten‑year mine life).
• The announcement includes a qualified person’s sign‑off (Stephen Kenwood, P.Geo.) under NI 43‑101.

Aspect	Prior expectations	Current outcome	Impact
Financing size	Historically raised $3–5 M in multiple private placements (Oct 2025 – Apr 2026).	New raise of $11 M, more than double the previous largest round.	Material‑Positive: provides a sizable cash buffer and eliminates near‑term financing risk.
Use of proceeds	Earlier rounds funded permitting, final concession payments, and modest drilling (≤ 15 k m).	Funding a 50 k m drill campaign, expanding the exploration envelope into newly acquired north/south extensions.	Material‑Positive: accelerates resource growth and de‑risks the project’s expansion plan.
Insider participation	Insider take‑up modest (≈ $0.4–0.5 M).	Insiders commit CAD $3.8 M, ~35% of total raise, signalling strong confidence.	Positive signal to market; aligns management interests with shareholders.
Share dilution / warrant exposure	Warrants already outstanding (~13 M) at $0.28‑$0.32 exercise price.	Additional warrants increase total outstanding to ~57 M units (≈ 22% of post‑raise shares).	Dilution modest relative to cash infusion; still acceptable for a cash‑starved junior.
Project timeline	Drilling program slated for 2026 Q1–Q2, but funding was uncertain.	Funding now secured, likely enabling start of drilling in Q2 2026 as planned.	Reduces execution risk, supporting the updated PEA schedule (expected Q1 2026).
Market reaction	Stock had been climbing from $0.11 to a peak of $0.32 then retreated to $0.24.	The news is expected to reinforce the upward trend, providing upside catalyst.	Material‑Positive for price in short term.

Overall, the financing exceeds routine expectations and materially strengthens Sonoro’s balance sheet and project execution path.

Sonoro Gold Corp. is a junior gold explorer focused on the Cerro Caliche epithermal vein system in Sonora, Mexico. The project comprises ~3,924 ha of contiguous concessions (including recent 2,574 ha expansion) with a Measured & Indicated resource of 51.8 Mt @ 0.37 g/t Au (6.23 Moz AuEq) and an Inferred 8.8 Mt. The planned mine is an open‑pit, heap‑leach operation targeting up to 16,000 t/d, with a ten‑year LOM producing ~459 koz AuEq. After‑tax NPV5 of $224 M and IRR of 50% (base case) were disclosed on 28 Feb 2026.