SONORO GOLD COMPLETES ACQUISITION OF 23 MINERAL CONCESSIONS TO FURTHER EXPAND THE CERRO CALICHE GOLD PROJECT
Sonoro expands its Cerro Caliche footprint to 8,600 hectares as permitting advances and drilling ramps up.
Sonoro Gold Corp. has completed the acquisition of 23 mineral concessions, holding a 100% interest, along with up to a 51% interest in five additional concessions adjacent to its Cerro Caliche project in Sonora, Mexico. The transaction expands the total project footprint to over 8,600 hectares.
Consideration for the 100% interest totals USD $5.17 million, payable in installments over 18 months. An additional commitment of up to USD $9 million in exploration and development expenditures is required to earn the remaining 49% interest in the five concessions. The company assumes outstanding mineral concession fees of approximately USD $990,000. No securities were issued, and no royalty interests were granted to the vendors.
The expansion supports the ongoing 50,000-meter drilling program aimed at testing the extension of epithermal mineralized corridors into the newly acquired land. The project remains in the final permitting stage for an open-pit, heap-leach operation. A March 2026 Preliminary Economic Assessment (PEA) indicated a 10-year mine life at 16,000 tpd, yielding an after-tax NPV8 of USD $224 million and an IRR of 50% at a gold price of USD $3,500/oz.
Sonoro Gold Corp. (SGO) has successfully closed on previously announced Letters of Intent (LOIs) from May 2026. The market was already aware of the expansion strategy, making this an expected, incremental follow-up rather than a surprise.
The transaction is non-dilutive to existing shareholders as no equity was issued. However, it introduces a substantial future cash commitment of USD $14.17 million over the next 18 months to four years. Given the company's reported cash position of CAD $1.26 million and a working capital deficiency of CAD $4.25 million (as of Q1 2026), the acquisition significantly heightens the near-term need for external financing.
Sonoro Gold Corp. is a junior exploration and development company focused on the Cerro Caliche gold project in Sonora, Mexico. The project is classified as a low-sulphidation epithermal vein system with over 25 northwest-trending gold mineralized zones. It is currently in the final permitting stage for an open-pit, heap-leach operation targeting an initial 10-year life at 16,000 tonnes per day.
An updated March 2026 Mineral Resource Estimate totals 60.6 million tonnes, including 51.8 Mt Measured + Indicated at 0.37 g/t Au (6,230 koz AuEq) and 8.8 Mt Inferred. Economic metrics from the March 2026 Preliminary Economic Assessment (PEA) show a pre-tax NPV8 of $360M, an after-tax NPV8 of $224M, and an after-tax IRR of 50% at a base-case gold price of $3,500/oz. The payback period is 1.7 years.