SolGold PLC Announces Regional Exploration Update - Porvenir

Hole 19 at Porvenir's Cacharposa returns one of the best intersections to date

BISHOPSGATE, UK / ACCESSWIRE/ December 6, 2021 / The Board of Directors of SolGold (LSE:SOLG)(TSX:SOLG) is pleased to provide an update on the Regional Exploration programme in Ecuador at the Porvenir held by Green Rock Resources S.A., a 100% owned and unencumbered subsidiary of SolGold.

HIGHLIGHTS:

• Drill holes 14 - 22 at Cacharposa have intersected further significant copper and gold mineralisation.
• Hole 19 returned one of the best intersections to date with 722m @ 0.66% copper equivalent ("CuEq") ^[1] from surface.
• Significant intersections include:
  • PDH-21-019: 722m @ 0.66% CuEq from surface including 118m @ 1.13% CuEq from 12m
  • PDH-21-018: 124m @ 0.76% CuEq from 478m
  • PDH-21-016: 140m @ 0.47% CuEq from 408m
  • PDH-21-014: 132m @ 0.44% CuEq from 756m
• Recent drilling results continue to delineate a near surface, large, mineralised porphyry system at Cacharposa that remains open.
• Work is advancing on a maiden Mineral Resource Estimate ("MRE") for the Cacharposa deposit that is expected later this month.
• Drilling is ongoing at Porvenir with three drill rigs on site testing mineralisation at Cacharposa and surrounding targets.

SolGold's Executive Board Member and Head of Exploration, Mr Jason Ward, commented on today's update at Porvenir:

"Results from Cacharposa continue to improve with Hole 19 representing one of the best intersections to date at the Porvenir project. Mineralisation in this hole commenced from surface and attests to the economic potential of this project. Cacharposa continues to grow and with numerous other nearby mineralised targets identified, we believe the Porvenir project has the potential to become a Tier 1 copper - gold porphyry camp."

References to figures relate to the version visible in PDF format by clicking the link below:

http://www.rns-pdf.londonstockexchange.com/rns/5460U_1-2021-12-3.pdf

FURTHER INFORMATION

Porvenir Project: Cacharposa Target

The Porvenir project is located approximately 100km north of the Peruvian border (Figure 1), in southern Ecuador and approximately 100km south of the 9.48 Moz Au Fruta Del Norte deposit ^[2]. The Company's Porvenir project is held by Green Rock Resources S.A., a 100% owned and unencumbered subsidiary of SolGold.