SOMA PROVIDES CORPORATE UPDATE EL Limon Mill Commissioning, Labor Negotiations in Colombia , and New VP Appointment
SOMA PROVIDES CORPORATE UPDATE
EL Limon Mill Commissioning, Labor Negotiations in
Colombia
, and New VP Appointment
VANCOUVER, BC
,
Oct. 27, 2025
/CNW/ -
Soma Gold Corp.
(TSXV: SOMA) (WKN: A2P4DU)
(OTC: SMAGF) (the "
Company
" or "
Soma
") is pleased to announce the following operational
update:
El Limon Mill Update
The El Limon Mill is operating and in the planned ramp-up stage. Ball mill number 1 is operational,
and the bull gear replacement for mill number 2 is underway. The Company expects the mill to be
running at full capacity by December, despite the challenges posed by the ongoing labor strike at El
Bagre. The El Limon workforce is non-unionized but depends on certain support services from the El
Bagre operation. Management has successfully outsourced those services, and progress is being
made. The first gold production from the Merril Crowe circuit occurred last week, yielding 40 kg of
precipitate. Additional automation is being installed to resolve operational disruptions related to the
thickener tank, thereby improving processing reliability. Full production at 200 TPD is anticipated by
Q1 2026.
Soma Appoints Vice President, Business Development
Additionally, Soma announces that Mr.
Julian Storz
has joined the Company's management team as
Vice President, Business Development, based in
Toronto
. Historically, Soma has expanded its
operations by acquiring properties, mines, and processing facilities in Antioquia,
Colombia
,
increasing its mineral property portfolio, resources, and gold production from that region. Mr. Storz
will now lead Soma's efforts to pursue accretive inorganic growth through mergers and acquisitions
and other strategic initiatives to create jurisdictional diversity and develop new production in new
regions that align with the Company's strategy and investment criteria.
"I am excited to join Soma at this pivotal stage," said Mr. Storz. "Soma has built a robust platform
with meaningful organic growth opportunities that position the Company to scale production and
pursue additional value-accretive initiatives."
Mr. Storz is a finance professional with over a decade of experience across corporate finance,
banking, mergers & acquisitions and capital markets. Prior to joining Soma, Mr. Storz served as
Director, Investment Banking – Mining & Metals at an independent investment bank based in
Toronto
. In this role, he advised a diverse range of clients, from senior producers to early-stage
exploration companies, on strategic initiatives including corporate finance, M&A, joint ventures,
strategic investments, streaming and royalty transactions, and Indigenous community engagement.
Strike and Labor Negotiations at El Bagre
Negotiations to end the work stoppage by the unionized employees at the Company's El Bagre Mill
and Cordero Mine continue with the assistance of the Colombian Ministry of Labor. Progress has
been made on some crucial issues, but the union's demand for co-administration rights, among other
items, remains a significant point of disagreement. The Company remains committed to reaching a
fair agreement with its employees and is confident that a mutually beneficial resolution will be
achieved, allowing work to resume quickly.
Under Colombian law, once a strike has lasted for 60 days, the matter proceeds to binding
arbitration. Workers are required to return to work approximately 10 days after the 60
th
day, while
arbitration is underway.
November 7
marks the 60
th
day since the strike began. The Company
remains hopeful that the issues will be resolved before that date.
CEO Statement
Geoff Hampson
, Soma's CEO, states, "We are very thankful for the assistance and guidance
provided by the Colombian Ministry of Labor in working to find common ground with
Sintramienergetica Nacional, the union representing employees at the Company's El Bagre
operation. We believe we have made a generous offer that exceeds the contract terms recently
negotiated by the same union with other mining companies in the region. If the strike continues
beyond the
November 7
th
milestone, the Company will abide by the terms of the arbitration
process."
Mr. Hampson further noted, "I am pleased to see the El Limon Mill producing again. Limon was the
first asset we acquired in
Colombia
. We upgraded the mill from 50 TPD to 225 TPD in 2018-19 and
then subsequently acquired the El Bagre Mill, which offered a larger capacity. Limon was placed on
care and maintenance while we developed sufficient ore sources to feed both mills. With the
development of the Aurora Mine, the purchase of the Escondida Mine, and the formalization of
several small miners, we have now achieved that goal. Production at Limon will contribute an
estimated 500-1,000 ounces of gold per month. While throughput is limited during the ramp-up, we
expect to reach nameplate capacity of 200 TPD by year-end. Once the testing of the ore-sorting
equipment is completed, management will consider an installation at El Limon, which would increase
production to 400-425 TPD, helping reduce Soma's dependence on production from the El Bagre
facility."
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a profitable mining company focused on gold production and
exploration. The Company owns over 43 sq. kilometers of mineral concessions following the prolific
OTU fault in Antioquia,
Colombia
and two fully permitted mills located within 25 kilometers of each
other, with a combined milling capacity of 675 tpd. The El Bagre Mill operates at 450 TPD, 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 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 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:
For further information, please contact Andrea Laird, telephone: +1-604-
259-0302
CO: Soma Gold Corp.
CNW 07:20e 27-OCT-25