Sonoro Gold Secures All Surface Rights for the PROPOSED Cerro Caliche MINING OPERATION

Core Viewpoint - Sonoro Gold Corp. has secured all necessary surface rights for its Cerro Caliche Gold Project in Sonora, Mexico, marking a significant milestone for the company's transition from exploration to production [1][2][4]. Surface Rights Lease Highlights - The surface rights lease has a term of up to 25 years, consisting of an initial term of 12.5 years and an option for renewal for an additional 12.5 years [4][6]. - An initial payment of US $1,000,000 has been made for the lease [4]. - The lease allows for exclusive access to explore, develop, and extract mineral deposits, as well as to construct related mining infrastructure [6]. Project Development and Resource Potential - The Cerro Caliche project is in the final permitting stage for a proposed open-pit, heap leach mining operation, with only 30% of the identified mineralized zones drilled and assayed to date [5][6]. - The company plans to develop an initial operation of 12,000 tonnes per day to generate cash flow for further exploration of the remaining 70% of the mineralized area [5]. Financial Projections - A Preliminary Economic Assessment (PEA) filed in October 2023 indicates a potential after-tax net present value (NPV5) of US $47.7 million at a gold price of US $1,800 per ounce, and US $77 million at US $2,000 per ounce, with an internal rate of return (IRR) of 45% and 63% respectively [9][10]. Resource Estimate - The resource estimate as of March 2023 is based on 55,360 meters of drilled data, including 498 drill holes and assays for 53,865 meters [8].