Sonoro Gold makes final payment on Caliche; CFO resigns

Executive Summary

• Sonoro Gold Corp. has completed the final concession payment for its flagship Cerro Caliche gold project in Sonora, Mexico, acquiring 100% interest in the El Rosario mineral concessions.
• The company announced the resignation of CFO Salil Dhaumya, with Board member Katharine Regan assuming the role of interim CFO.
• The Cerro Caliche project is in the final permitting stage for an open-pit, heap leach operation, with surface rights secured for the entire project area and neighboring Cerro Prieto mine.

Key Details

• Cerro Caliche Concession Acquisition:
  • Sonoro Gold, via its subsidiary Minera Mar de Plata (MMP), executed an assignment of title to mining concession agreement on Oct. 29, 2025.
  • Final instalment paid: $919,907.71 (U.S.).
  • This payment completes the $1.79-million (U.S.) total consideration for the El Rosario mineral concessions, which represent 30% of the total surface area of the Cerro Caliche project.
  • The vendor retains a 2% net smelter returns (NSR) royalty; Sonoro may purchase 1% of this royalty for $1-million (U.S.).
• Total Project Ownership:
  • The Cerro Caliche project comprises 15 contiguous mining concessions covering 1,350.10 hectares.
  • Total consideration for all 15 concessions under five separate option agreements executed in March 2018 was $5.18-million (U.S.).
  • All financial obligations under the option agreements have been met, and all titles have been assigned to MMP.
• Surface Rights:
  • MMP controls 100% of the surface rights for the Cerro Caliche project.
  • A surface rights agreement was entered into with the owner of the Cerro Prieto Ranch.
  • Starting Sept. 1, 2028, Sonoro's surface rights will expand to encompass the entire Cerro Prieto Ranch, including the surface rights to the neighboring Cerro Prieto mine.
• Project Status:
  • The project is in the final permitting stage for a proposed open-pit, heap leach mining operation.
  • The property hosts a low-sulphidation epithermal vein structure with over 25 northwest-trending gold mineralized zones.
  • Approximately 30% of the identified mineralized zones have been drilled and assayed to date.
• Management Change:
  • Salil Dhaumya resigned as Chief Financial Officer.
  • Katharine Regan (Board member and corporate secretary) has assumed the role of interim CFO until a successor is appointed.
  • Mr. Dhaumya agreed to assist in a smooth transition.

Notable Quotes

• "Sonoro wishes to thank Mr. Dhaumya for his services and contributions to the company and wishes him the best in his future endeavours."