SolGold PLC Announces Renewal for the Cascabel Project Concession

Announces 25-Year Term Renewal for the Cascabel Project Concession

BISHOPSGATE, LONDON / ACCESSWIRE / July 17, 2023 / The Board of Directors of SolGold (LSE:SOLG)(TSX:SOLG) is pleased to announce that the Company has received the Term Renewal from the Ministry of Energy and Mines of the Government of Ecuador for the Cascabel Project Concession ("Cascabel").

The Northern Zonal Coordination of the Ministry of Energy and Mines has issued Official Letter No. MEM-CZN-2023-0810-OF containing Resolution No. MEM-CZN -2023-0090-RM ("Resolution") for the Term Renewal of the Cascabel Mining Concession (Code 402288) until 2048. The Company may request additional term renewals in the future. The Term Renewal confirms that Cascabel comprises 4979 contiguous hectares and is a large-scale mining regime in accordance with Ecuador's mining regulations.

The mining concession renewal term is 25 years from the registration date of the Resolution in the Mining Registry under the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources and subsequent notification to the Northern Zonal Coordination of the Ministry of Energy and Mines.

"SolGold is making significant strides in the advancement of the Cascabel Project. The 25-year Term Renewal should give all stakeholders confidence in the ability of current management to move forward with our plans for Cascabel and the Company. We appreciate the Government's strong support and are dedicated to ensuring that we deliver on our commitments," stated Scott Caldwell, SolGold's CEO and President of SolGold Ecuador.

A conference call with a live webcast presentation to provide a market update will be held on July 20, 2023, at 8:00 a.m. (EST), 1:00 p.m. (BST), and 10:00 p.m. (AEST).

Interested parties can register for SolGold's webcast on 6ix.com for free via the following link:

https://my.6ix.com/2kg-oijy

The presentation is open to all existing and potential shareholders. The presentation material will also be available on the day of the presentation at: https://www.solgold.com.au/investors-center.

CONTACTS

Scott Caldwell Chief Executive Officer	Tel: [phone]
Tavistock (Media) Jos Simson/Gareth Tredway	Tel: [phone]