SONORO ANNOUNCES UPDATED MINERAL RESOURCE ESTIMATE AND ROBUST UPDATED PEA FOR CERRO CALICHE GOLD PROJECT: AFTER-TAX NPV OF USD $224 MILLION AND AFTER-TAX IRR OF 50%

Core Viewpoint - Sonoro Gold Corp. has announced an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) for its Cerro Caliche gold project, indicating significant potential for a viable mining operation over a ten-year life of mine with increased production rates and favorable economic metrics [1][5]. Updated PEA Highlights - The PEA is based on a base case gold price of $3,500/oz and silver price of $48/oz, showing a pre-tax net present value (NPV8) of $360 million and an internal rate of return (IRR) of 65% [4][13]. - At spot prices of $5,186/oz gold and $88/oz silver, the pre-tax NPV8 increases to $846 million with an IRR of 121% [6][13]. - The project has a gold recovery rate of 72% and a silver recovery rate of 27%, with a total of 459,000 ounces of gold equivalent expected over the life of the mine [6][15]. Mineral Resource Estimate - The updated MRE includes 51,752 k tonnes classified as Measured and Indicated resources, with an average gold grade of 0.37 g/t and silver grade of 3.7 g/t [11]. - Inferred resources are estimated at 8,801 k tonnes with a gold grade of 0.33 g/t [11]. Economic Parameters - Initial capital expenditures (CAPEX) are estimated at $83 million, with sustaining capital costs of $26 million [6][18]. - The cash operating costs are projected at $1,842 per gold equivalent ounce, with all-in sustaining costs (AISC) at $1,902 per ounce [6][30]. Mining and Processing - The mining operation will utilize an open pit, heap leach method, with an initial production rate of 12,000 tonnes per day ramping up to 16,000 tonnes per day [1][18]. - The total tonnes processed over the life of the mine is estimated at 52.8 million, with a strip ratio of 1.6 [15]. Sensitivity Analysis - The PEA includes sensitivity analysis showing how changes in gold and silver prices affect the project's NPV and IRR, indicating robust economic viability under various scenarios [16][20].