Mr. Kenneth MacLeod reports

SONORO GOLD ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Sonoro Gold Corp. has closed the first tranche of its previously announced $3-million non-brokered private placement by issuing 17 million units at a price of 10 cents per unit, for gross proceeds of up to $1.7-million.

Each unit consists of one Sonoro common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional Sonoro common share for a period of two years from the closing of the private placement at an exercise price of 15 cents per share.

The net proceeds from the offering will be used to finance the continuing development of a proposed heap leach mining operation at the company's Cerro Caliche gold project in Sonora, Mexico.

All securities issued and issuable in connection with the first tranche are subject to a four-month-plus-one-day hold period ending Oct. 21, 2023. The offering has received conditional acceptance from the TSX Venture Exchange but remains subject to receipt of final acceptance from the TSX Venture Exchange.

In connection with the first tranche, the company paid $959 in finder's fees and issued 9,590 in non-transferable finder's warrants. Each finder's warrant entitles the finder to purchase one common share in the capital of the company at a price of 15 cents for a period of two years from the date of closing.

Directors and officers of the company participated in the offering by subscribing for 13,187,260 units for gross proceeds of $1,318,726, constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101, as the fair market value of the transaction did not exceed 25 per cent of the company's market capitalization.

About Sonoro Gold Corp.

Sonoro Gold is a publicly listed exploration and development company holding the near-development-stage Cerro Caliche project and the exploration-stage San Marcial properties in Sonora state, Mexico. The company has highly experienced operational and management teams with proven records for the discovery and development of natural resource deposits.

We seek Safe Harbor.