SOMA.V · 2021-11-03 12:00:00

Soma Gold Corp. Updates Cordero Gold Project

Drill Results

Soma Gold Corp. Updates Cordero Gold

Project

VANCOUVER, BC

Nov. 3, 2021

/CNW/ -

Soma Gold Corp.

(TSXV: SOMA) (WKN: A2P4DU)

(OTC: SMAGF) (the "

Company

" or "

Soma

") is pleased to announce final drilling results for the in-fill

and near-mine exploration program at the Company's Cordero Project in Antioquia,

Colombia

Highlights

20,786m

of drilling completed in program

Drilling results have expanded known

gold mineralization

600m

along strike and 150 meters

down-dip

High-grade mineralization remains open down-dip and to the north

Maximum intersection grade of

60.72 g/t Au over

1.90m

Fenix portal has reached level 3

Soma has now completed

20,786m

of drilling in 73 drill holes on the Cordero project. In-fill and near-

mine drilling was targeted to extend current mineral resources and better delineate the known

mineralization, targeting the northern extension of the Cordero deposit that will be easily accessible

through the new Fenix ramp, currently completing development. The company also announces that

the construction of the Fenix portal accessing the Cordero mine has reached Level 3, encountering

the vein as expected in the geological model

(see picture #1)

Picture #1. Photo of vein interception at Level 3. *Looking to southwest. (CNW Group/Soma Gold

Corp.)

Javier Cordova

, President and CEO of Soma, states, "Our drilling program at Cordero has provided

very good results. We anticipate a further expansion of the mineral resource and mine life once the

updated NI 43-101 Technical Report is completed in Q1 2022. Our exploration team has done an

outstanding job of targeting new resources, despite Covid-19 restrictions. The current exploration

strategy is a key value driver for the El Bagre operation as the mine life and ounces produced grow.

Access to Level 3 at the Cordero mine is an important step in enhancing our production plan by

giving access to additional stopes with higher grades. The average grade at Cordero will compare

favorably to that being mined currently from the La Ye and Mangos mines. This is a very exciting

time for Soma, as we continue to access the high-grade Cordero project and expand our exploration

efforts to develop other brownfield targets."

Cordero Project

The Cordero project is located 3km to the southeast of the La Ye and Mangos operations

(see map

#1)

. An in-fill and near-mine drilling campaign commenced in late 2020 with two company-owned

DDH drilling rigs targeting the northern extension block. Exploration results from the

10,830m

drilling to delineate the known mineralization in these areas were announced on

June 10, 2020

and

October 15, 2020

. 1. After the completion of this near-mine drilling, the drill rigs were moved to the

in-fill program focused on resource conversion.

9,956m

of drilling was completed in this campaign,

which was finished on

September 15, 2021

. Further exploration results were announced on

February

4, 2021

and

March 18, 2021

. The results reported here are a summary of the key intercepts

previously reported and the addition of 21 drill holes (BCDDH_21_107 to BCDDH_21_126)

documented in this press release

(see table #1).

Map #1 plan view of project location. (CNW Group/Soma Gold Corp.)

The best high-grade intercepts previously reported at Cordero include:

Northern Extension

49.77 g/t Au over

1.69m

in drill hole BCNDDH_20_003

60.72 g/t Au over

1.90m

in drill hole BCNDDH_20_005

33.96 g/t Au over

6.45m

in drill hole BCNDDH_20_006

Down-Dip

38.90 g/t Au over

0.3m

in drill hole BCDDH_20_100

13.47 g/t Au over

1.5m

in drill hole BCDDH_20_096

12.45 g/t Au over

2.30m

in drill hole BCDDH_21_105

Drilling was successful in extending the mineralization of the northern block by

600m

with maximum

intersection grade of

60.72 g/t Au over

1.90m

. The updated geological model of Cordero shows

mineralized trend

1,500m

long by

325m

depth.

High-grade mineralization remains open down-dip

and to the north and will be targeted in future drilling. The delineation of new mineralization offers the

potential for additional mineral resources growth and extension of the mine life

(see Map #2).

Table #1. List of drill hole intercepts. *

Lengths reported are drilled core lengths and not

necessarily true widths. Drill holes were oriented to be perpendicular to the dip of the veins and

management believes the reported intersections approximate their true widths.

From

Length

From

Length

Location

Hole ID

(m)

(ft)

(g/t)

CORDERO

BALVINA

BCDDH_21_107

216.15

217.85

1.70

709.19

714.77

5.58

0.60

Including

216.15

216.80

0.65

709.19

711.32

2.13

0.38

Including

216.80

217.60

0.80

711.32

713.95

2.62

0.07

Including

217.60

217.85

0.25

713.95

714.77

0.82

2.90

BCDDH_21_108

204.40

205.90

1.50

670.64

675.56

4.92

4.45

Including

204.40

205.20

0.80

670.64

673.26

2.62

5.87

Including

205.20

205.90

0.70

673.26

675.56

2.30

2.82

BCDDH_21_109

185.40

189.45

4.05

608.30

621.59

13.29

2.24

Including

185.40

186.30

0.90

608.30

611.25

2.95

2.91

Including

186.30

187.30

1.00

611.25

614.53

3.28

5.12

Including

187.30

188.30

1.00

614.53

617.81

3.28

0.89

Including

188.30

189.00

0.70

617.81

620.11

2.30

0.41

Including

189.00

189.45

0.45

620.11

621.59

1.48

0.33

BCDDH_21_110

202.10

202.40

0.30

663.09

664.07

0.98

5.90

And

204.60

205.10

0.50

671.29

672.93

1.64

2.86

BCDDH_21_111

209.55

211.15

1.60

687.53

692.78

5.25

1.14

Including

209.55

210.45

0.90

687.53

690.49

2.95

0.33

Including

210.45

211.15

0.70

690.49

692.78

2.30

2.17

BCDDH_21_112

210.65

211.30

0.65

691.14

693.28

2.13

2.67

BCDDH_21_113

239.10

239.60

0.50

784.49

786.13

1.64

2.67

BCDDH_21_114

241.37

241.67

0.30

791.93

792.92

0.98

2.94

BCDDH_21_115

No Significant Intercepts

BCDDH_21_116

No Significant Intercepts

BCDDH_21_117

227.30

228.10

0.80

745.77

748.40

2.62

0.74

BCDDH_21_118

232.25

234.90

2.65

762.01

770.71

8.69

0.49

BCDDH_21_119

230.60

234.40

3.80

756.60

769.07

12.47

1.19

BCDDH_21_120

242.55

243.55

1.00

795.81

799.09

3.28

0.32

BCDDH_21_121

239.30

240.60

1.30

785.14

789.41

4.27

1.27

Including

239.30

239.95

0.65

785.14

787.28

2.13

0.50

Including

239.95

240.60

0.65

787.28

789.41

2.13

2.03

BCDDH_21_122

260.10

260.70

0.60

853.39

855.36

1.97

17.80

BCDDH_21_123

263.60

265.60

2.00

864.87

871.43

6.56

0.41

Including

263.60

264.60

1.00

864.87

868.15

3.28

0.62

Including

264.60

265.60

1.00

868.15

871.43

3.28

0.19

BCDDH_21_124

No Significant Intercepts

BCDDH_21_125

No Significant Intercepts

BCDDH_21_126

274.75

275.70

0.95

901.45

904.57

3.12

4.79

Assay results have also been received for channel sampling of the

120m

of mine development

completed at level 2 of the Cordero mine

(see Table #2)

. The results confirm the high grade nature

of the deposit, with maximum grade of 41.27 g/t Au over

1.80m

(see Map #3)

. The channel

sampling results corroborate the gold grades estimates and model made using only drillhole data

reported in the NI-43-101 Technical Report on "The El Bagre Underground Gold Operation and The

Nechi Gold Project, Antioquia,

Colombia

", effective date

July 12, 2019

prepared by RPA's

independent "Qualified Persons".

Table #2. Channel samples assays.

* Lengths are sampled intervals lengths and not necessarily

true widths. Samples were taken in a manner to reflect, as closely as possible, true width.

Location

Channel

From

Length

From

Length

(m)

(ft)

(g/t)

C2NG_ABS0

Composite

0.00

1.30

0.00

4.27

6.14

Including

Y52475

0.00

0.65

0.00

2.13

0.68

Including

Y52476

0.65

1.30

0.65

2.13

4.27

2.13

11.60

C2NG_ABS5.4

Composite

0.00

1.70

0.00

5.58

7.86

Including

Y52477

0.00

0.85

0.00

2.79

10.40

Including

Y52478

0.85

1.70

0.85

2.79

5.58

2.79

5.32

C2NG_ABS7.72

Composite

0.00

2.00

0.00

6.56

6.12

Including

Y52479

0.00

1.00

0.00

3.28

1.59

Including

Y52481

1.00

2.00

1.00

3.28

6.56

3.28

10.65

C2NG_ABS11.76

Composite

0.00

1.80

0.00

5.91

41.27

Including

Y52482

0.00

0.90

0.00

2.95

78.70

Including

Y52483

0.90

1.80

0.90

2.95

5.91

2.95

3.83

C2NG_ABS13.6

Composite

0.00

2.70

0.00

8.86

16.33

Including

Y52484

1.80

2.70

0.90

5.91

8.86

2.95

15.35

Including

Y52485

0.90

1.80

0.90

2.95

5.91

2.95

20.50

Including

Y52486

0.00

0.90

0.00

2.95

13.15

C2NG_ABS15.40

Composite

0.00

3.00

0.00

9.84

21.85

Including

Y52492

2.00

3.00

1.00

6.56

9.84

3.28

7.16

Including

Y52493

1.00

2.00

1.00

3.28

6.56

3.28

13.80

Including

Y52494

0.00

1.00

0.00

3.28

44.60

C2NG_ABS20.51

Composite

0.00

3.90

0.00

12.80

21.04

Including

Y52495

3.10

3.90

0.80

10.17

12.80

2.62

54.90

Including

Y52496

2.80

3.10

0.30

9.19

10.17

0.98

1.02

Including

Y52497

2.50

2.80

0.30

8.20

9.19

0.98

100.00

Including

Y52498

1.80

2.50

0.70

5.91

8.20

2.30

0.39

Including

Y52499

1.30

1.80

0.50

4.27

5.91

1.64

0.13

Including

Y52500

0.60

1.30

0.70

1.97

4.27

2.30

2.16

Including

Y52502

0.00

0.60

0.00

1.97

9.99

C2NG_ABS24

Composite

0.00

1.00

0.00

3.28

0.70

Including

Y52503

0.00

1.00

0.00

3.28

0.70

C2NG_ABS29

Composite

0.00

0.85

0.00

2.79

5.95

Including

Y52507

0.00

0.85

0.00

2.79

5.95

C2NG_ABS32

Composite

1.00

3.00

2.00

6.56

9.84

3.28

3.03

Including

Y52520

2.00

3.00

1.00

6.56

9.84

3.28

0.88

Including

Y52521

1.00

2.00

1.00

3.28

6.56

3.28

5.17

C2NG_ABS35

Composite

0.80

2.00

1.20

2.62

6.56

3.94

4.13

Including

Y52524

1.40

2.00

0.60

4.59

6.56

1.97

0.78

Including

Y52525

0.80

1.40

0.60

2.62

4.59

1.97

7.47

C2NG_ABS32.2

Composite

0.00

4.00

0.00

13.12

4.77

Including

Y52656

3.00

4.00

1.00

9.84

13.12

3.28

2.86

Including

Y52657

2.00

3.00

1.00

6.56

9.84

3.28

1.83

Including

Y52658

1.00

2.00

1.00

3.28

6.56

3.28

14.00

Including

Y52659

0.00

1.00

0.00

3.28

0.39

C2NG_ABS35.7

Composite

0.60

2.10

1.50

1.97

6.89

4.92

5.95

Including

Y52662

1.35

2.10

0.75

4.43

6.89

2.46

2.39

Including

Y52663

0.60

1.35

0.75

1.97

4.43

2.46

9.50

C2NG_ABS42.1

Composite

0.80

3.50

2.70

2.62

11.48

8.86

20.10

Including

Y52666

2.60

3.50

0.90

8.53

11.48

2.95

5.02

Including

Y52668

1.70

2.60

0.90

5.58

8.53

2.95

8.27

Including

Y52669

0.80

1.70

0.90

2.62

5.58

2.95

47.00

Map #2. Plan view of Cordero deposit with the location of drill holes completed and the area of

potential resource expansion of the project. *Indicated resources according to NI-43-101 Technical

Report on “The El Bagre Underground Gold Operation and The Nechi Gold Project, Antioquia,

Colombia", effective date July 12, 2019 prepared by RPA's independent "Qualified Persons". (CNW

Group/Soma Gold Corp.)

Map #3. Plan view of level 2 at the Cordero mine with the channel sampling results. *Black arrow

represents the direction of development. (CNW Group/Soma Gold Corp.)

QA/QC CONTROLS

For exploration core drilling, the company applied its standard protocols for sampling and assay. NQ

core is sawn or split with one-half shipped to a sample preparation laboratory in

Medellin

run by ALS

Colombia Limited ("ALS"). Channel samples were collected by hand using hammer and chisel

perpendicularly across exposed mineralized quartz-carbonate vein to best represent the true width.

Channel sample locations were surveyed using total station. Each sample location has been

photographed with channel traces painted to indicate the location and orientation of each sample.

Samples are then shipped for analysis to an ALS-certified assay laboratory in

Toronto, Canada

and

Lima

, Perú. The samples were analyzed for gold using standard fire-assay on a 50-gram sample

with an AA finish. Multi-element geochemistry was determined by ICP-MS using either aqua regia

(ME-MS41) or four acid (ME-MS61) digestions. Blanks, duplicates and certified reference standards

are inserted into the sample stream to monitor laboratory performance. Comparison to control

samples and their standard deviations indicates acceptable accuracy of the assays and no

detectible contamination. The remainder of the core is stored in a secured storage facility for future

assay verification.

Mr.

Edwin Naranjo Sierra

, FAusIMM, MSc, Senior geologist, Director of Exploration for Soma Gold

Corp is the Qualified Person, within the meaning of NI 43-101. Mr. Naranjo is satisfied that the

analytical procedures and best practices used are standard industry methodologies, and he has

reviewed and approved the technical information disclosed in this news release.

ABOUT SOMA GOLD

Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration.

The Company owns approximately 30,000 Ha of mineral rights, three operating underground mines

and two adjacent mills in Antioquia,

Colombia

with a combined capacity of 675 tpd. (permitted for

1,400 tpd). The 450 tpd El Bagre Mill is currently operating and producing and the adjacent 225 tpd

El Limon Mill is on care and maintenance, to be re-activated in Q1 2022 as additional feed comes

on-line. In addition to the existing mines, the property has extensive gold bearing structures that have

been mined historically by small miners. Only 15% of the prospects have been drilled with many

targets identified for the on-going exploration program. Internally generated funds are being used to

finance the District Scale exploration program. The Company also owns an exploration and

development property near Tucuma, Para State,

Brazil

On behalf of the Board of Directors

"Javier Cordova Unda"

Chief Executive Officer and President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of

this release.

All statements, analysis and other information contained in this press release about anticipated

future events or results constitute forward-looking statements. Forward-looking statements are

often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan",

"estimate", "expect" and "intend" and statements that an event or result "may", "will", "should",

"could" or "might" occur or be achieved and other similar expressions. Forward-looking statements

are subject to business and economic risks and uncertainties and other factors that could cause

actual results of operations to differ materially from those contained in the forward-looking

statements. Forward-looking statements are based on estimates and opinions of management at the

date the statements are made. The Company does not undertake any obligation to update forward-

looking statements even if circumstances or management's estimates or opinions should change

except as required by applicable laws. Investors should not place undue reliance on forward-looking

statements.

SOURCE

Soma Gold Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/November2021/03/c3521.html

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For further information:

please contact Andrea Laird, telephone: +1-604-259-0302

CO: Soma Gold Corp.

CNW 07:15e 03-NOV-21

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