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VANCOUVER, BC, Jan. 8, 2025 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the "Company" or "Soma") is pleased to announce that the Company produced 27,460 ounces of AuEq and sold 27,668 AuEq ounces during 2024. This represents 92.4% of the 2024 budgeted production at the Cordero Mine.

Additionally, the Company announces that it is in advanced discussions to purchase up to 200 TPD of mineralized rock mined at the Zancudo Mine, 100% owned by Denarius Metals Corp. ("Denarius") (Cboe CA: DMET; OTCQX: DNRSF). This arrangement will begin generating production and cash flow at the Company's El Limon Mill, located in Zaragoza, in the Department of Antioquia. The El Limon Mill, which has a capacity of 225 TPD and is permitted for up to 400 TPD, is located approximately 125 km from the Zancudo Mine on a paved highway. Work on restarting the El Limon Mill, which has been on care and maintenance since 2020, has already begun, with re-commissioning expected in the coming months.

Geoff Hampson, President and CEO of Soma, states, "We are pleased to have achieved 92.4% of our projected 2024 production at the Cordero Mine despite several unplanned mechanical shutdowns and a blockade by the local community, which negatively affected production. We expected the El Limon Mill to contribute ounces in 2024, but the restart was held up due to delays in the granting of the necessary permits to commence mining at the Aurora Mine in Machuca. "Hampson further states, "There are a lot of synergies between Soma and Denarius that make sense for both Companies to fully utilize El Limon's capacity while Soma ramps up production at the Company's mines and Denarius commissions their new mill at Zancudo. Further updates will be forthcoming once the formal agreement between the Companies is finalized."

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.

With a solid commitment to sustainability and community engagement, Soma Gold Corp. is dedicated to achieving excellence in all aspects of its operations.

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

"Geoff Hampson"
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.

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