Mr. Kenneth MacLeod reports

SONORO GOLD CLOSES C$500,000 PRIVATE PLACEMENT

Sonoro Gold Corp. has closed its previously announced non-brokered private placement of 5,555,556 units at a price of nine cents per unit for gross proceeds of $500,000. All dollar amounts are in Canadian dollars unless otherwise noted.

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 14 cents per share.

In connection with the offering, the company paid $6,160 in finders' fees and issued 68,446 in non-transferable finders' warrants for a period of two years at an exercise price of 14 cents.

All securities issued and issuable in connection with the offering are subject to a four-month-plus-one-day hold period ending Jan. 26, 2025. The offering has received conditional acceptance from the TSX Venture Exchange but remains subject to receipt of final acceptance from the TSX Venture Exchange.

Insiders of the company participated in the offering by subscribing for 1,668,906 units for gross proceeds of $150,202, 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.

The net proceeds from the offering will be used to finance the continuing development of the company's Cerro Caliche gold project in Sonora, Mexico, and for general working capital purposes.

About the Cerro Caliche gold project

Exploration to date at the 1,400-hectare property confirms a broadly mineralized low-sulphidation epithermal vein structure and over 25 northwest-trending gold mineralized zones along trend and near surface. With only 30 per cent of the property's identified mineralized zones drilled and assayed, the company filed an updated mineral resource estimate (MRE) in March, 2023, based on a total 55,360 metres of drilled data, including 498 drill holes, 17 trenches and assays for 53,865 metres of the drilled data.

In October, 2023, the company filed a new preliminary economic assessment (PEA) demonstrating the potential viability for a nine-year open-pit, heap leach mining operation. Using a gold price of $1,800 (U.S.) per ounce, the project has an after-tax net present value discounted at 5 per cent (NPV5) of $47.7-million (U.S.) and an internal rate of return (IRR) of 45 per cent. Using a gold price of $2,000 (U.S.) per ounce, the project has an after-tax NPV5 of $77-million (U.S.) and an IRR of 63 per cent.

The PEA was prepared in accordance with the requirements of National Instrument 43-101 by D.E.N.M. Engineering Ltd. and Micon International Ltd., with confirmation of the applicable resource estimates prepared by SRK Consulting (U.S.) Inc.

Qualified person statement

Stephen Kenwood, PGeo, a director of Sonoro, is a qualified person within the context of National Instrument 43-101, and has read and approved this news release. Readers are cautioned that the presence of mineralization on historic mines adjacent to or on Cerro Caliche is not necessarily indicative of economic gold mineralization in the concessions held by the company.

About Sonoro Gold Corp.

Sonoro Gold is a publicly listed exploration and development company holding the development-stage Cerro Caliche project and the exploration-stage San Marcial project 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.