Increase of 32.6 % over same period last
year
VANCOUVER, BC, April 4,
2023 /CNW/ - Soma Gold Corp. (TSXV: SOMA)
(WKN: A2P4DU) (OTC: SMAGF) (the "Company" or "Soma")
is pleased to announce that gold production in Q1 2023, at its 100%
owned El Bagre, Colombia, gold
mine, was 6,796 AuEq ounces. Production was 99.2% of forecast
despite a seven-day interruption during the General Strike in the
el Bagre region. Gold production was also 32.6% ahead of the same
period last year. Full-year forecast production for 2023 remains
unchanged at 35,500 AuEq ounces.
Javier Cordova, President and
CEO, states, "The civil unrest in Antioquia that disrupted
operations at the Company's Cordero Mine and the el Bagre milling
complex was a result of the Government's efforts to curtail illegal
alluvial mining in the regional river systems. Our relationship
with the community remains strong, and our operations were
temporarily halted only to ensure our employees' safety. Despite
the lost week of production and the associated ramp-up period when
production re-started, the team has made great strides in
increasing production in accordance with our 2023 operating
plan."
The Company also announces the addition of Jean-Francois Meilleur as Vice President -
Capital Markets. Mr. Meilleur will be responsible for leveraging
the operational and financial successes of the Company to
facilitate further organic and inorganic growth.
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.
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.