Sonoro Gold Increases Unit Private Placement to $3.0 Million

“THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION
TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES”

VANCOUVER, British Columbia, April 13, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that, in response to strong investor demand, it is increasing its non-brokered private placement first announced on March 29, 2021 and initially increased on April 9, 2021 to raise an aggregate of $3,000,000 through exercise of an additional overallotment option.

The Offering price remains $0.18 per Unit, each composed of one Sonoro Common share and one Common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro Common share for a period of two years from the date of closing at an exercise price of $0.30 per share. The Offering, if fully subscribed, will result in the issuance of 16,666,667 shares and 16,666,667 warrants.

Kenneth MacLeod, President and CEO of Sonoro, stated, “The proceeds from the increased private placement will enable our technical teams to complete additional drilling, increasing the results available for consideration in an updated resource estimate, and additional scientific field work and geological structural analysis which will be incorporated into the 43-101 technical report being prepared by Micon International. No further equity financings are anticipated prior to completion of the Preliminary Economic Assessment by D.E.N.M. Engineering, anticipated in summer 2021, which will incorporate the metallurgical testing being conducted by McClelland Laboratories and the 43-101 technical report by Micon.”

The Company intends to pay finder’s fees as permitted under the policies of the TSX Venture Exchange in respect of Units placed with the assistance of registered securities dealers. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the closing date. The Offering, including the overallotment option, is subject to TSX Venture Exchange acceptance.

The net proceeds from the Offering will be used principally to fund Sonoro’s ongoing development plans at its Cerro Caliche Gold Project located in Sonora, Mexico and project property maintenance payments, and secondarily for corporate and general administrative expenses.

About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.