VANCOUVER, BC, Feb. 2, 2023
/CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC:
SMAGF) (the "Company" or "Soma") is pleased to
announce that Mark J. Bren has
joined the Company in the role of Vice President – Operations,
effective February 1, 2023. Mr. Bren
brings an advanced level of technical mining and operating
experience to Soma, and his appointment fills a gap in the
Company's management structure.
Mr. Bren has previously worked with several senior management
team members, where his expertise, work ethic and direct approach
were appreciated by the executive team and the Board of
Directors.
Mr. Bren studied Forestry and Business Administration at the
University of Montana from 1987 to
1988. He graduated in 1994 from the Montana College of Mineral Science and
Technology in Butte, Montana, with
a Bachelor of Science in Mining Engineering. He has completed many
continuing education courses on topics pertinent to the design,
management and expansion of the Company's mines in Colombia, including mine safety, shotcrete for
underground support, mine ventilation and backfill technology.
Mr. Bren is also a member of the following associations
- The Society for Mining, Metallurgy, and Exploration
Incorporated
- Coeur d'Alene Section of the SME
- Northwest Mining Association
Javier Cordova, President and
CEO, states, "We are delighted to add a seasoned professional such
as Mark to our senior management team. Now that our Cordero Mine is
in Commercial Production, the focus will be on the optimization of
the mining method and mine production. Our goal is to increase
production at the Cordero Mine from the current 400 TPD to 700 TPD
by mid-year 2023 to justify re-starting the el Limon mill, which is
currently on care and maintenance. The Colombian operations team
will report directly to Mark. His experience and knowledge will
greatly contribute to managing the mining operations and assessing
potential new technologies and methods, including additional
mechanization, the application of shotcrete and the implementation
of enhanced safety protocols. We are very pleased to add Mark to
the team."
Mr. Bren will be awarded 200,000 stock options of Soma as a part
of his compensation.
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold
production and exploration. The Company owns two adjacent mining
properties in Antioquia, Colombia
with a combined milling capacity of 675 tpd. (Permitted for 1,400
tpd). The El Bagre Mill is currently operating and producing.
Internally generated funds are being used to finance a regional
exploration program.
The Company also owns an exploration property near Tucuma, Para
State, Brazil that is currently
under option to Ero Copper Corp.
On behalf of the Board of Directors
"Javier Cordova Unda"
Chief Executive Officer and
President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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This news release
refers to certain financial measures, such as
EBITDA, Adjusted EBITDA, average realized price per ounce of gold sold, and
total cash costs per ounce of gold sold which are not measures recognized under IFRS
and do not have a standardized meaning prescribed by IFRS.
These measures may differ from those made by other companies and
accordingly may not be directly comparable to such measures as
reported by other companies. These measures have been derived from
the Company's financial statements because the Company believes
that they are of benefit in understanding the Company's
results. For a complete explanation of these measures, please
refer to Non-IFRS Financial Performance Measures disclosure
included in the Company's MD&A for the Years Ended December 31,
2022 and 2021 and the Three and Six Months Ended June 30, 2022 and
2021 which can be accessed at www.sedar.com.
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All statements, analysis and other information contained in this
press release about anticipated future events or results constitute
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "expect" and "intend"
and statements that an event or result "may", "will", "should",
"could" or "might" occur or be achieved and other similar
expressions. Forward-looking statements are subject to business and
economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those
contained in the forward-looking statements. Forward-looking
statements are based on estimates and opinions of management at the
date the statements are made. The Company does not undertake any
obligation to update forward-looking statements even if
circumstances or management's estimates or opinions should change
except as required by applicable laws. Investors should not place
undue reliance on forward-looking statements.
SOURCE Soma Gold Corp.