Mr. Scott Caldwell reports

SOLGOLD PLC ANNOUNCES CORPORATE UPDATE

Solgold PLC has provided an update on the company's current initiatives and continuing activities.

Scott Caldwell, Solgold's chief executive officer and president of Solgold Ecuador, commented:

"We continue to progress various initiatives, including the strategic review. Since returning to Ecuador on Jan. 2, I have also had the opportunity to engage directly with government officials and local stakeholders. The commitment from all parties involved has been outstanding and I am optimistic for the future of the Ecuadorian mining industry as a real driver for economic development."

Cascabel update

The phased approach prefeasibility study for the company's 100-per-cent-owned Cascabel project located in northern Ecuador is nearing completion. The phased approach is expected to demonstrate a lower risk path for Cascabel, with several project optimizations expected compared with the 2022 Cascabel PFS, including lower capital costs.

Exploration update

The company is reporting that its Ecuadorian exploration team has been active during January, 2024, making progress at the Blanca-Nieves project, which hosts the newly discovered La Florida target. Blanca-Nieves is located 10 kilometres north of the Cascabel project. Exploration activities are expected to continue over the course of 2024, focusing on advancing new target areas and prospects for new discoveries.

Board update

Following the company's annual general meeting held in December, 2023, the Solgold board has reconstituted various board committees tasked with overseeing critical aspects of our operations and strategy. The current composition of committees is as follows:

• Audit and risk committee -- Dan Vujcic (chair), Maria Amparo Alban and Steve van Barneveld;
• Remuneration committee -- Mr. van Barneveld (chair), Mr. Vujcic and Ms. Alban;
• Nominations committee -- Mr. Vujcic (chair), Mr. Caldwell and Nicholas Mather;
• Environment social governance committee -- Ms. Alban (chair), Mr. van Barneveld and Mr. Caldwell.

In accordance with the Listing Rule (LR) 14.3.6 and Disclosure Guidance and Transparency Rule (DTR) 6.2.2, the company confirms that a copy of all resolutions passed at the annual general meeting held on Dec. 20, 2023, have been provided to the FCA's national storage mechanism.

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.

We seek Safe Harbor.