Download Sonoro Gold Updated PEA Cerro Caliche Full PDF

Download Sonoro Gold Updated PEA Cerro Caliche Full PDF 2

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%

VANCOUVER, Canada, February 28, 2026 – Sonoro Gold Corp. (TSXV: SGO | OTCQB:
SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce the results of an
independent updated Mineral Resource Estimate (“MRE”) and updated Preliminary Economic
Assessment (“PEA”) on the Company’s Cerro Caliche gold project located in Sonora State,
Mexico. The PEA demonstrates the potential viability for a ten-year life of mine (“LOM”), open pit,
heap leach mining operation with an initial one-year ramp up production rate of 12,000 tonnes per
day (“tpd”) and an increase to 16,000 tpd for the remaining LOM. All currency is stated as USD.
The updated MRE and PEA have been prepared in accordance with the requirements of National
Instrument 43-101 (“NI 43-101”) by P&E Mining Consultants Inc., of Brampton, Ontario (“P&E”).
Updated PEA Highlights:

• Base Case Prices of $3,500/oz gold and $48/oz silver
  o Pre-Tax net present value discounted at 8% (“NPV8”) of $360 million
  o Pre-Tax Internal Rate of Return (“IRR”) of 65%
  o After-Tax NPV8
  ” of $224 million
  o After-Tax IRR of 50%
• Spot Prices of $5,186/oz gold and $88/oz silver
  o Pre-Tax NPV8 of $846 million
  o Pre-Tax IRR of 121%
  o After-Tax NPV8
  ” of $525 million
  o After-Tax IRR of 91%
• Gold recovery of 72% and silver recovery of 27%
• 10-year LOM with 459 k ounces (“oz”) of gold equivalent (“AuEq”)
• LOM annual average production of 46 k oz AuEq at 0.38 g/t AuEq
• Initial CAPEX costs of $83 million, including $11 million in contingency
• Sustaining capital costs of $26 million
• Cash(1) operating costs of $1,842/oz AuEq
• AISC(2) of $1,902/oz AuEq
• Payback period of 1.7 years
  
• Note: All currencies are reported in U.S. dollars. Base case parameters assume $3,500/oz gold and $48/oz silver.
  (1) Cash operating costs include mining, crushing, processing, assaying, administration and royalties.
  (2) All-in-Sustaining Costs include cash costs plus sustaining capital and reclamation costs.
  “This updated PEA and MRE clearly illustrates a significant increase in value of the Cerro Caliche
  project as a result of higher gold prices and a revised mine plan with increased production rates,”
  said Kenneth MacLeod, President and CEO of Sonoro Gold. “With less than 30% of the known
  mineralized zones at the original Cerro Caliche concession drilled and assayed to date and the
  recent near-tripling of the concession size to the north and south, the potential for future expansion
  of the proposed mine, both in capacity and LOM, are considered to be favourable.”

About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development Company holding the near-
development-stage Cerro Caliche project and the exploration-stage San Marcial project in Sonora
State, Mexico. The Company has highly experienced operational and management teams with
proven track records for the discovery and development of natural resource deposits.
On behalf of the Board of Sonoro Gold Corp.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. – Tel: (604) 632-1764
Email: info@sonorogold.com
Forward-Looking Statement Cautions:
This press release may contain “forward-looking information” as defined in applicable Canadian securities legislation. All statements
other than statements of historical fact, included in this release, including, without limitation, statements regarding the Cerro Caliche
project, and future plans and objectives of the Company, constitute forward looking information that involve various risks and uncer-
tainties, including statements regarding completion of an updated preliminary economic assessment of the Cerro Caliche Gold pro-
ject.. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance
that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are
generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”,
“potential”, “goal”, “objective”, “prospective” and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could”
or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking
statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made
and they involve a number of risks and uncertainties, including the possibility of unfavorable exploration and test results, the lack of
sufficient future financing to carry out exploration and development plans and unanticipated changes in the legal, regulatory and
permitting requirements for the Company’s exploration programs. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the
policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on
SEDAR at www.sedar.com.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in
the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933,
as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United
States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of,
U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an
exemption from or in a transaction not subject to the registration requirements of the Securities Act”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or accuracy of this release.