SolGold PLC Announces Cascabel Pre-Feasibility Study Update

BISHOPSGATE, UK / ACCESSWIRE / November 23, 2021 / The Board of Directors of SolGold (LSE & TSX:SOLG) wishes to provide an update regarding progress of the Pre-Feasibility Study ("PFS") with respect to the Cascabel project in northern Ecuador.

With the recent appointment of a new CEO and MD Darryl Cuzzubbo starting on 1^st December 2021, SolGold has determined to delay the release of the PFS. This will enable confirmation of various assumptions impacting the PFS, including whether what are currently considered as upside options should in fact be further evaluated and incorporated as part of the PFS base case so as to provide a more indicative and robust value of the Cascabel project. Upside options under review include earlier underground access, mine and mill optimisations, extending Cascabel Resources, hydroelectric power, among others, offering further optionality and potential for improved economics.

Subject to the determination on the above assumptions, the PFS is well progressed and SolGold anticipates that it will support management's expectations of a robust and prospective project.

An update on when the PFS is expected to be completed will be provided at the upcoming AGM on 15^th December 2021.

By order of the Board
Dennis Wilkins
Company Secretary

CONTACTS

Dennis Wilkins SolGold Plc (Company Secretary) [e-mail]	Tel: [phone]
Ingo Hofmaier SolGold Plc (Acting CFO) [e-mail]	Tel: [phone]
Fawzi Hanano / Lia Abady SolGold Plc (Investors / Communication) [e-mail] / [e-mail]	Tel: [phone]
Tavistock (Media) Jos Simson / Gareth Tredway	Tel: [phone]

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Certain information contained in this announcement would have been deemed inside information.

ABOUT SOLGOLD

SolGold is a leading resources company focussed on the discovery, definition and development of world-class copper and gold deposits. In 2018, SolGold's management team was recognised by the "Mines and Money" Forum as an example of excellence in the industry and continues to strive to deliver objectives efficiently and in the interests of shareholders. SolGold is aggressively exploring the length and breadth of this highly prospective and gold-rich section of the Andean Copper Belt which is currently responsible for c40% of global mined copper production.