Mr. Geoff Hampson reports

SOMA GOLD CORP. ENTERS INTO DEFINITIVE AGREEMENT TO REPURCHASE ROYALTY ON EL LIMON MINE

Soma Gold Corp. has executed a definitive agreement with Red Rock Resources PLC to acquire, in full, the net smelter return royalty that has encumbered the El Limon gold mine since the property was originally purchased by its wholly owned subsidiary, Colombia Milling Ltd., in 2015.

Under the terms of the original purchase agreement, Red Rock retained a 3-per-cent net smelter return royalty on production revenue from El Limon up to a maximum of $2,768,000 ($2-million (U.S.)), followed by a 0.5-per-cent royalty on production revenue thereafter to a maximum of $1,384,000 ($1-million (U.S.)). To enhance the long-term economic profile of the operation, the parties have agreed that Soma Gold will purchase and extinguish the royalty for total consideration of $1,876,000 (one million British pounds) in cash, together with the issuance to Red Rock of 200,000 common share purchase warrants of Soma. Each warrant will entitle the holder to acquire one common share of the company at an exercise price of $2 for a period of three years from the date of issue. Completion of the transaction and the issuance of the warrants remain subject to the approval of the TSX Venture Exchange.

"The elimination of the royalty is expected to have an immediate positive impact on operating margins once the El Limon plant resumes production. The agreement not only streamlines the asset's cost structure but also demonstrates the company's commitment to unlocking the full value of its Colombian portfolio for the benefit of all stakeholders," said Geoff Hampson, chief executive officer of Soma Gold.

On closing, the company will finance the cash component of the purchase price from existing working capital.

About Soma Gold Corp.

Soma Gold is a profitable mining company focused on gold production and exploration. The company owns over 43 square kilometres of mineral concessions following the prolific Otu fault in Antioquia, Colombia, and two fully permitted mills, located within 25 kilometres of each other, with a combined milling capacity of 675 tonnes per day. The El Bagre mill operates at 450 tonnes per day and the El Limon mill is slated to restart operations in Q3 2025. Internally generated funds are being used to finance a regional exploration program.

With a solid commitment to sustainability and community engagement, Soma Gold is dedicated to achieving excellence in all aspects of its operations.

The company also owns an exploration property near Tucuma, Para state, Brazil, that is currently under option to Ero Copper Corp.

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