SONORO ANNOUNCES LETTERS OF INTENT TO ACQUIRE MINERAL CONCESSIONS AT CERRO CALICHE GOLD PROJECT
May 12, 2026
Letters of Intent (“LOIs”) to acquire 100% interest in 24 mineral concessions and up to 51%
interest in 5 mineral concessions
• Concessions are located adjacent or within proximity to Cerro Caliche gold project in
Sonora, Mexico.
• Strategic opportunity to demonstrate Cerro Caliche as part of a larger gold epithermal
system, with wide-scale potential to host multiple mineralized zones.
• Potential to build Cerro Caliche into a district-scale gold mineral project with multiple
major mineralized zones
• Numerous exploration programs conducted across the new concessions resulting in
multiple mineralized targets
• 100% interest in 24 mineral concessions over 5,025.21 ha for USD $6.0 million payable
in installments over twenty months.
o Includes payment of outstanding mineral concession fees totaling
approximately USD $990,000.
o No issuance of any securities nor any grant of a royalty interest.
o Extensive historical data from multiple exploration programs conducted over
the past 30 years.
o Soil and rock geochemical samples, surface and underground workings, drilling
campaigns and geophysical surveys been completed
o Concession hosts various veins and mineralized structures with potentially
similar geological, structural and mineralized characteristics as Cerro Caliche.
• Up to a 51% interest in 5 mineral concessions over 453.91 ha for up to USD $9M in
exploration expenditures over four years
o Can earn 12.75% interest for each USD $2.25M of exploration expenditures
incurred.
o No issuance of any securities nor any grant of a royalty interest.
o Historical drilling data suggests concessions may host continued extensions of
Cerro Caliche’s northwest trending mineralized corridors.
o Historic mineralized intersections of both high and low grade may continue at
depth within parallel vein systems.
o Company’s integrated exploration approach will incorporate structural
reinterpretation, modern geophysics, 3D geological modeling and systematic
drilling programs.
o Aimed at expanding mineral resources, identifying new mineralized centers
and evaluating the potential of multiple underexplored gold corridors.
• Project in the final permitting stage for proposed open-pit, heap leach mineral
operation.
• Updated 2026 PEA demonstrates potential viability for an initial ten-year mining
operation at 16,000 tpd.
• Based on approximately 30% of the known mineralized zones identified on the original
1,350-hectare property
• Utilizing a gold price of USD $3,500 per ounce, report highlights an after tax NPV8 of
USD $224M and an IRR of 50%.
• Cerro Caliche was recently expanded by 11 additional mineral concessions to almost
4,000 hectares
• Acquisition of 24 concessions will expand the property to 9,001 hectares, plus another
454 hectares through a potential 51% ownership in another five concessions.
