SolGold PLC Announces Third-Quarter Financial Report and Quarterly MD&A

BISHOPSGATE, LONDON / ACCESSWIRE / May 16, 2024 / SolGold (LSE:SOLG)(TSX:SOLG) is pleased to announce the release of the Company's financial results for the third quarter ended 31 March 2024. The full financial report is available here: http://www.rns-pdf.londonstockexchange.com/rns/6938O_1-2024-5-16.pdf

Furthermore, the Company advises that the Company's website also contains access to additional information required to be filed on SEDAR+ in Canada in connection with the Company's quarterly financial period ended 31 March 2024. The Management Discussion and Analysis report is available here: http://www.rns-pdf.londonstockexchange.com/rns/6938O_2-2024-5-16.pdf

Highlights of the Period Include:

• Completion of the updated Cascabel Pre-Feasibility Study ("PFS"): The updated PFS incorporates a phased approach plan, significantly reducing initial capital costs. Key figures include a pre-tax NPV8% of $5.4bn, 33% IRR, and a post-tax NPV8% of $3.2bn with a 24% IRR. The PFS presents significant copper, gold, and silver production estimates over a 28-year mine life, updated mineral resource and reserve statements for the Alpala Deposit and an updated mineral resource statement for the Tandayama America deposit. (PFS Announcement)
• Appointment of Mr. Jian (John) Liu and Mr. Charles Joseland to the Board of Directors: Mr. Lui and Mr. Joseland bring extensive experience and valuable insights that will support SolGold's strategic initiatives and governance. (Directors Announcement)
• The Blanca-Nieves Project Exploration Update: Assays from channel-saw samples of gold-bearing epithermal quartz vein outcrops at the Florida target returned results of 6.15m @ 7.46 g/t Au, including 2.2m @ 21.1 g/t Au. Additionally, a significant porphyry target has been identified at Cielito Norte, covering approximately 2.5 x 2.5 km, approximately 8m from the Cascabel project of about 8 km. (Exploration Update)
• Memorandum of Understanding ("MOU") for Hydro-Solar Energy Initiative: SolGold has signed an MOU with Grupo Empresarial Semaica, Enerhydra, and Constructora Nacional S.A. for a sustainable hydro-solar energy initiative at the Cascabel Project. The collaboration aims to develop a Power Project delivering approximately 200 megawatts of renewable energy, aligning with environmental stewardship and economic development goals, with partnerships established to secure financing and ensure adherence to regulatory standards. (MOU Announcement)

This announcement was approved for release by Scott Caldwell - Chief Executive Officer.