Mr. Scott Caldwell reports

SOLGOLD PLC ANNOUNCES THIRD-QUARTER FINANCIAL REPORT AND MD&A

Solgold PLC's website contains access to a copy of the quarterly financial report and management discussion and analysis (MD&A) required to be filed on SEDAR in Canada, in connection with the company's third quarter financial period ended March 31, 2023. This additional information is available on the investor centre page of the company's website.

Highlights of the period include:

• The company ended the quarter with strong liquidity, a cash balance of $48.1-million plus $25.4-million shares held, which can be sold at the election of a wholly owned subsidiary.
• Solgold successfully merged with Cornerstone Capital Resources Inc., which has led to Solgold securing 100-per-cent ownership of the Cascabel project, along with additional exploration properties.
• With the continuing restructuring efforts described below, management expects current cash balances to last beyond June, 2024.
• The company's management has conducted a thorough assessment of its operations, with a focus on streamlining the organization to increase effectiveness and manage costs. Consequently, the company has restructured its offices in Brisbane, Australia, London, United Kingdom, and Quito, Ecuador, to generate significant cost reductions while enhancing operational efficiency. As part of the restructuring, Scott Caldwell, who previously served as interim chief executive officer, has been appointed as the Company's chief executive officer and president of Solgold Ecuador. Additionally, the company announced the appointment of Chris Stackhouse as its chief financial officer, effective April 17, 2023.
• Management is internally evaluating a phased approach to the development of Cascabel with the intent to reduce upfront capital and shorten the development schedule.

About Solgold PLC

Solgold is a leading resources company focused on the discovery, definition and development of world-class copper and gold deposits and continues to strive to deliver objectives efficiently and in the interests of shareholders. Solgold is exploring the length and breadth of the highly prospective and gold-rich section of the Andean copper belt, which is currently responsible for 40 per cent of global mined copper production.

The company operates with transparency and in accordance with international best practices. Solgold is committed to delivering value to its shareholders while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace, and minimizing the environmental impact.

We seek Safe Harbor.