SolGold PLC Announces Regional Exploration Update - Porvenir - Seite 2

The Cacharposa porphyry copper-gold target is part of a 1,700m long northerly-trending mineralised corridor, up to 1,000m wide. The target is characterised by coincident Cu, Mo, Au and Cu/Zn soil anomalies that lie central to a zone of Mn-depletion in soil. Reduced-to-the-pole ("RTP") magnetics exhibit a central magnetic high surrounded by an annular magnetic low. These characteristics together are typical of numerous significant porphyry deposits globally, several of which have become mines.

Drill holes 14-22 at Cacharposa intersected significant copper and gold mineralisation, including a significant intercept of 722m @ 0.66% CuEq (0.52% Cu, 0.23g/t Au) representing close to 480m%^[3] CuEq in hole 19 (Figure 2 & 3). Selected highlights of final drill hole assays received from Holes 14-19 include:

• PDH-21-014: 132m @ 0.44% CuEq from 756m
• PDH-21-016: 140m @ 0.47% CuEq from 408m
• PDH-21-018: 124m @ 0.76% CuEq from 478m
• PDH-21-019: 722m @ 0.66% CuEq from surface including 118m @ 1.13% CuEq from 12m
• PDH-21-020: 122m @ 0.44% CuEq from 8m
• PDH-21-021: 166m @ 0.38% CuEq from 182m

Significant intersections from final assays in drill holes 14-22 at Cacharposa are shown in Table 1.

The interpreted orientation of the Cacharposa intrusive complex and its associated porphyry copper-gold mineralisation is subvertical, dipping approximately 75 degrees to the northwest. The true width of down-hole intersections reported are therefore expected to be approximately 55-75% of the down-hole lengths, depending on the orientation of any given drill hole.

Three drilling rigs are currently operating at Porvenir continuing to delineate the extents of mineralisation at Cacharposa along with testing other nearby mineralised targets at Mula Muerte and Viño at the Porvenir project.

Drilling of hole 26 will commence shortly at Cacharposa and assays from completed holes 23-25 are pending.

Work is advancing on a maiden MRE for Cacharposa expected later this month with internal preliminary estimates indicative of a significant prospective resource that appears amenable to bulk surface mining methods.

^[1] Copper equivalency factor of 0.632 (whereby CuEq = Cu + Au x 0.632) is based on third party metal price research, forecasting of Cu and Au prices, and a cost structure from mining studies data available from a similar deposit. Costs include mining, processing and general and administration (G&A). Net Smelter Return (NSR) includes metallurgical recoveries and off-site realisation (TCRC) including royalties and utilising metal prices of Cu at US$3.30/lb and Au at US$1,700/oz.