SOMA GOLD Produces 3,031 Ounces IN July - a 47% Increase from the Prior Year

SOMA GOLD PRODUCES 3,031 OUNCES IN

JULY - A 47% INCREASE FROM THE PRIOR

YEAR

VANCOUVER, BC

,

Aug. 16, 2023

/CNW/ -

Soma Gold Corp.

(TSXV: SOMA) (WKN: A2P4DU)

(OTC: SMAGF) (the "

Company

" or "

Soma

") is pleased to announce that it produced 3,031 AuEq

ounces in July, which represents a significant 47% increase compared to the 2,061 AuEq ounces

produced in July of 2022. As of

July 31, 2023

, the Company has produced 18,723 AuEq ounces

year to date and continues to be in line with its planned production target of 18,562 AuEq ounces for

the same period.

Javier Cordova

, Soma's President and CEO, states, "Although the team in

Colombia

faced a

development phase with grades slightly below the projected yearly average, they continued to

deliver on our operational goals. We anticipate an improvement in the average grade over the

remainder of the year and are confident in our ability to continue to meet our aggressive production

forecast."

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.

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

"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.

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For further information:

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

CO: Soma Gold Corp.

CNW 06:20e 16-AUG-23