SOMA.V · 2024-03-05 12:00:00

SOMA GOLD Intersects 8.35 G/T Au over 1.0m and Reports Underground Channel Sampling at LA Aurora MINE, Machuca, Antioquia, Colombia

Drill Results Exploration Programs

SOMA GOLD INTERSECTS 8.35 g/t Au OVER

1.0m AND REPORTS UNDERGROUND

CHANNEL SAMPLING AT LA AURORA MINE,

MACHUCA, ANTIOQUIA, COLOMBIA

VANCOUVER, BC

March 5, 2024

/CNW/ -

Soma Gold Corp.

(TSXV: SOMA) (WKN: A2P4DU)

(OTC: SMAGF) (the "

Company

" or "

Soma

") is pleased to announce the results of the initial

diamond drill program conducted at the La Aurora Mine on the Machuca Project in central

Colombia

(Figure 1). Three drill holes, totalling

656m

of drilling, were successfully completed in late

December

2023

. Furthermore, this release also presents the results obtained from the 2022 due diligence

underground sampling program. The assays from both the channel samples and drill holes are

detailed and discussed herein.

Highlights include the following drill intercept:

AURDDH-24-003

1.0m

at 4.35 g/t Au incl.

0.5m

at 8.35 g/t Au

Composited underground channel sampling highlights include:

AURORA5_GS_AR8_ABS_10S

0.65m

at 36.64 g/t Au incl.

0.25m

at 94.7 g/t Au

AURORA5_GS_AR8_ABS_2S

0.8m

at 14.17 g/t Au incl.

0.3m

at 37.77 g/t Au

AURORA5_GS_AR8_ABS_16S

0.9m

at 11.03 g/t Au incl.

0.4m

at 9.92 g/t Au

La Aurora Mine is located on the western side of the Otu Fault within an area characterized by a

regionally extensive high-metaphoric grade gneiss. Quartz veins in this region form as laminated

fault-fill veins within a sinistral brittle-ductile shear zone, interpreted as a higher-order structure

associated with the Otu Fault. The controlling fault zone is predominantly north-south striking and

dips moderately to steeply to the west.

This fault, along with associated quartz veins, forms a series of en echelon segments that

consistently step approximately

25m

50m

to the left along strike. Uniquely oriented quartz veins,

created to accommodate extension within step-over zones, in these domains strike southeast and

dip steeply to the south. Extensional step-over zones are recognized as hosting high-grade ore

shoots and represent highly promising exploration targets.

In 2022, Soma conducted due diligence channel sampling at La Aurora Mine. The channel samples

were collected along the strike of La Constancia vein on level 5 of the mine. A total of 69 channel

samples were obtained from 37 lines covering approximately

110m

along the strike of La Constancia

vein. Out of these, 35 samples were quartz vein material from La Constancia vein while the

remaining 34 samples were wall rock shoulder samples in the footwall and hanging wall of the quartz

vein. Table 1 presents the composite grades of each channel sample line, ranging from 0.01 g/t Au

to 94.67 g/t. Among these, 21 quartz vein samples reported gold grades exceeding 0.4 g/t, with the

remaining 15 vein samples indicating the nuggety nature of the gold distribution. Notably, seven wall

rock shoulder samples returned gold assays ranging from 0.9 g/t Au to 9.07 g/t Au, attributed to thin

veins containing sulphides and gold in the footwall of the main vein structure. The grade distribution

of the due diligence samples aligns with the historical underground channel sample dataset, where

the maximum historical sample along La Constancia vein was 146 g/t Au. Due diligence samples

adjacent to the high-grade historical sample reported gold assays exceeding 7 g/t.

Table 1 Composites of due diligence channel sample lines on level 5 of La Aurora Mine

Channel Sample No

Zone

Length (m)

Au (g/t)

AURORA5_GN_AR12_ABS_4N

Constancia

0.6

1.50

AURORA5_GN_AR12_ABS_8N

Constancia

0.7

0.02

AURORA5_GN_AR13_ABS_10N

Constancia

0.7

0.02

AURORA5_GN_AR13_ABS_23

Constancia

1.1

0.34

AURORA5_GN_AR4_ABS_12N

Constancia

0.95

2.09

AURORA5_GN_AR4_ABS_18N

Constancia

0.9

0.16

AURORA5_GN_AR4_ABS_4N

Constancia

1.1

2.93

AURORA5_GN_AR4_ABS_8N

Constancia

1.1

1.39

AURORA5_GS_AR10_ABS_16S

Constancia

1.5

0.74

AURORA5_GS_AR10_ABS_18S

Constancia

1.6

0.02

AURORA5_GS_AR10_ABS_26S

Constancia

1.6

0.02

AURORA5_GS_AR10_ABS_30S

Constancia

1.2

0.02

AURORA5_GS_AR10_ABS_38S

Constancia

0.33

AURORA5_GS_AR10_ABS_4S

Constancia

1.2

4.38

AURORA5_GS_AR10_ABS_6S

Constancia

1.3

3.50

AURORA5_GS_AR11_ABS_10S

Constancia

0.4

0.06

AURORA5_GS_AR11_ABS_16S

Constancia

0.2

0.12

AURORA5_GS_AR11_ABS_18S

South

0.45

8.19

AURORA5_GS_AR11_ABS_22(FRENTE)

Constancia

0.16

0.02

AURORA5_GS_AR11_ABS_4S

Constancia

0.6

0.02

AURORA5_GS_AR4_ABS_11S

Constancia

0.6

0.52

AURORA5_GS_AR4_ABS_14S

North

0.4

10.29

AURORA5_GS_AR4_ABS_16S

Constancia

1.2

1.33

AURORA5_GS_AR4_ABS_2S

Constancia

0.5

3.62

AURORA5_GS_AR8_ABS_0

Constancia

0.7

2.28

AURORA5_GS_AR8_ABS_10S

North

0.65

36.64

AURORA5_GS_AR8_ABS_12S

North

0.7

4.30

AURORA5_GS_AR8_ABS_14S

Constancia

0.8

1.45

AURORA5_GS_AR8_ABS_16S

North

0.9

11.03

AURORA5_GS_AR8_ABS_22S

Constancia

0.8

0.02

AURORA5_GS_AR8_ABS_26S

Constancia

0.79

AURORA5_GS_AR8_ABS_28S

Constancia

0.9

0.02

AURORA5_GS_AR8_ABS_2S

North

0.8

14.17

AURORA5_GS_AR8_ABS_30S

Constancia

0.12

AURORA5_GS_AR8_ABS_34S

Constancia

0.8

7.76

AURORA5_GS_AR8_ABS_36S

Constancia

1.1

1.34

AURORA5_GS_AR8_ABS_40S

Constancia

0.2

0.40

In late

December 2023

, a drill program was initiated to enhance confidence in the down-dip

continuity of the vein structures observed in historical mine workings. The primary objective was to

test the interpreted high-grade ore shoots and investigate whether the La Constancia quartz vein

extends below level 5 of the historical mine (Figure 2). Table 2 provides the composite assays from

the drill holes, and each hole is briefly discussed below.

AURDDH-23-001 unexpectedly intersected mine workings not documented in existing mine surveys.

It could not be completed to the planned depth and, consequently, prevented the hole from

intersecting the targeted section of the Constancia vein.

AURDDH-24-002 (Figure 3) Targeting down dip of high-grade channel samples from La Constancia

vein on level 5, this hole intersected the vein

30 m

below level 5, spanning from

178.8 m

181.35 m

with an approximate true width of

2.25 m

true width (Figure 3). The milky white quartz vein was

brecciated by younger, brittle fractures during structure reactivation. The fractures are filled with

crushed vein material and pyrite. Assay samples of the vein did not return any significant gold

values. A narrow interval of thin quartz veins occurs 2.5 m downhole from the main vein intersection

and returned a weakly anomalous gold value of 0.18 g/t Au over

0.35 m

at a depth of

183.9 m

AURDDH-24-003 (Figure 4) was designed to intersect a southeast striking, steeply dipping quartz

vein segment that forms in the extensional stepover zone between the Constancia and Aurora veins.

The vein, interpreted as forming in a normal fault accommodating extension between the two north-

south striking veins, was intersected from

151.6 m

152.7 m

with a true width of

1.0 m

, situated

up-dip of its exposure on level 5. The intersection is comprised of a late milky white quartz-

carbonate vein crosscutting an older brecciated dark grey quartz vein. In the footwall, 1 cm to 3 cm

thick quartz veins with variable orientations and density form a

35m

wide stockwork interval. The

veins contain 1%-5% sphalerite and galena, which typically accompanies gold mineralization along

the Otú Fault corridor. The quartz-carbonate vein was barren of gold mineralization, but a set of thin

(1.0 cm to 4.0 cm) quartz veins with pyrite, sphalerite, and galena returned a gold assay of 8.35 g/t

over

0.5 m

within the stockwork interval. Additional sampling has been undertaken to continuously

sample the entire stockwork interval to determine whether any unsampled quartz veins also contain

high-grade gold.

Soma's Vice President of Exploration, Chris Buchanan, stated, "We are pleased that the first phase

of drilling intersected quartz veins where they were predicted from initial structural models of the vein

system. We're particularly encouraged that numerous stockwork-style veins with sulphides and high-

grade gold intersected in the footwall of the primary vein structure. This zone is interpreted to be an

extensional step-over and has the potential to develop into a broad, high-grade ore shoot."

The initial 2023 drill program successfully confirmed the presence of the Constancia and Aurora

veins at depth below the current mine workings. While the low gold grades from the Constancia vein

in AURDDH-23-002 are disappointing, they are consistent with the nuggety distribution of gold grade

observed in the 2022 due diligence channel samples on level 5. Further drilling on a tighter spacing is

required to fully delineate the vein and gold distribution within the vein system in La Aurora Mine.

Soma is currently engaged in dewatering the mine to its deepest levels, enabling access to Levels 1

and 5. The engineering team is diligently evaluating the safety conditions of the mine.

Simultaneously, the exploration team is set to conduct geological mapping, systematic sampling, and

accurate surveys of the mine workings. The resulting additional information will be seamlessly

integrated into the current datasets to strategically plan the next phase of drilling in 2024.

Table 2 Significant assays above 0.15 g/t Au in the 2023 drill holes

Hole ID

From

(m)

To (m)

Length

(m)

Sample

(g/t)

(ppm)

AURDDH-23-001

90.55

91.3

0.75

YL-60063

0.24

0.19

16.4

8.3

AURDDH-24-002

129.7

130.7

YL-60135

0.33

0.06

24.3

7.4

AURDDH-24-002

183.65

184.25

0.6

YL-60159

0.18

5.23

60.1

394

AURDDH-24-003

157.2

157.7

0.5

YL-60193

0.19

0.62

67.3

14.5

AURDDH-24-003

158.2

159.2

YL-60207

0.34

0.72

58.3

AURDDH-24-003

159.2

159.7

0.5

YL-60194

8.35

13.1

124

10000

1765

In addition to ongoing exploration activities at La Aurora Mine, Soma's exploration team is actively

assessing various small-scale mines near Machuca. Three extensive soil grids are scheduled for

2024 to determine the continuity of gold mineralization between the informal mines along the

Otú Fault. Soma also continues to work with the local communities on the Machuca Property as part

of its ongoing ESG program.

The Otú fault system ("Otú Fault") has a strike length of over 100 km, from Segovia-Remedios in the

south to Nechi in the north (where it is concealed by younger sedimentary overlap sequences).

Soma's property holdings now encompass more than 56 km of this fault's strike length. High-grade

gold mineralization is observed along the entire Otú Fault strike length, primarily occurring in brittle-

ductile to brittle quartz veins formed during later stages of deformation along the fault. Throughout

the district, the quartz veins display orientation patterns that suggest the veins form in conjugate

faults associated with brittle faulting on the Otú Fault. Prominent mines along the Otú trend, such as

Segovia-Remedios, La Aurora, El Limon,

Le Ye

, Los Mangos, and Cordero, underscore the

prevalence of high-grade gold mineralization in the area. The Machuca Property is strategically

located along a critical segment of this regional fault structure, boasting numerous indications of

high-grade gold mineralization.

QA/QC Statement

Drill Core Samples

Soma Gold follows a comprehensive QA/QC program to ensure the reliability of assay data

collected from its exploration programs. All samples are sawn, or split, in half, with one half being

returned to the core box for storage. The second half-core is placed in a labelled plastic bag with a

tag, document, and sealed for shipment. Batches of samples are shipped to ALS Colombian (ALS)

Medellin

with security tags and documented chain of custody.

Pulps of each sample are prepared in

Medellin

and shipped to ALS Lima for analysis. All samples

are analyzed using the package ME-MS41, an ICP-MS analysis that provides the concentration of

51 elements. Fifty-gram aliquots of each sample are analyzed for gold using a standard fire assay

with an atomic absorption finish. Overlimit samples are subjected to an additional fire assay with a

gravimetric finish to determine the gold concentration.

A comprehensive QA/QC program has been implemented to monitor the reliability of assay data

collected during exploration programs. The program includes the regular insertion of certified blanks,

duplicates, and certified OREAS standards. Assays of the QA/QC samples are automatically

compared to the certified values and standard deviations in the database.

Channel Samples

Channel samples in

Colombia

are common in underground mining and are commonly used for grade

control. The channel samples are marked by a spray-painted line. Individual samples along the

channel are broken out based on changes in lithology (e.g. quartz vein vs wall rock). A large plastic

sheet is laid out below the sample line, and the sample is chipped with a hammer and chisel. The

chips are collected by the underlying plastic sheet and transferred to a sample bag.

Prior to

December 2023

, all the samples were analyzed by the Operadora mine laboratory and

selected samples were submitted to ALS Laboratory for QA/QC analysis. The samples were

crushed, split, and pulverized by the Operadora Mine laboratory. Fifty-gram aliquots of each sample

is analyzed for gold using standard fire-assay with a gravimetric finish.

Since 2023 all exploration samples for Soma Gold are submitted to ALS Lima for analysis, as per

the drill core procedures. This is due to renovations of the Operadora mine laboratory for improved

health and safety and capacity for increased mine production. Grade control channel samples for the

Cordero Mine continue to be processed at the Operadora mine laboratory.

Qualified Person Statement

Mr.

Chris Buchanan

, P.Geo, is Soma's Vice-President of Exploration and a Qualified Person as

defined by National Instrument 43-101. Mr. Buchanan has reviewed the technical information

disclosed in this press release.

ABOUT SOMA GOLD

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

The Company owns two adjacent mining properties in Antioquia,

Colombia

with a combined milling

capacity of 675 tpd. (Permitted for 1,400 tpd). The El Bagre Mill is currently operating and

producing. Internally generated funds are being used to finance a regional exploration program.

With a strong commitment to sustainability and community engagement, Soma Gold Corp. 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.

On behalf of the Board of Directors

"Geoff Hampson"

Chief Executive Officer and Chairman

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.

Composites of due diligence channel sample lines on level 5 of La Aurora Mine (CNW Group/Soma

Gold Corp.)

Significant assayes above 0.15g/t Au in the 2023 drill holes (CNW Group/Soma Gold Corp.)

Location of La Aurora Mine and the Machuca Project (CNW Group/Soma Gold Corp.)

2023 Drill Hole locations and 2022 channel sample locations (CNW Group/Soma Gold Corp.)

Cross-section of AURDDH-23-002 (CNW Group/Soma Gold Corp.)

Cross-section of AURDDH-23-003 (CNW Group/Soma Gold Corp.)

Pictures of La Constancia vein from level 5 of La Aurora Mine and entrance decline (CNW

Group/Soma Gold Corp.)

SOURCE

Soma Gold Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/March2024/05/c6823.html

%SEDAR: 00030511E

For further information:

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

CO: Soma Gold Corp.

CNW 07:20e 05-MAR-24

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