Soma Gold Corp. announced a non-brokered private placement offering of up to 10,000,000 common shares at a price of C$0.75 per share for aggregate gross proceeds of up to C$7,500,000. The net proceeds from the Offering are intended to fund capital expenditures to expand production at the Escondida and Aurora mines, complete the installation of ore sorting equipment, and accelerate exploration activities at the Escondida property. Additionally, funds will be used for working capital to pre-pay for ore purchases from small legal mines near the Company's mills and for general corporate purposes.

The Offering is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935. It will be made available to purchasers resident in all provinces of Canada, except Québec, and in other jurisdictions where the Offering may be lawfully made. Soma Gold Corp. will file a Form 45-106F19 offering document, which will be accessible under the Company's profile on SEDAR+ and on its website.

Geoff Hampson, CEO of Soma Gold Corp., stated that the financing positions the company to accelerate production growth at both mines while completing ore sorting infrastructure. He noted that these milestones are expected to have a meaningful impact on output and margins. The company also aims to support the formalization of small-scale legal mining operations in the region through ore purchase agreements.

The Offering is scheduled to close on or about June 19, 2026, subject to conditions including the receipt of all necessary regulatory approvals and the conditional approval of the TSX Venture Exchange. In connection with the Offering, Soma Gold Corp. has engaged Integrity Capital Group Inc. to act as its financial advisor. The company may pay a cash commission of up to 7% of the gross proceeds and issue non-transferable broker warrants equal to up to 7% of the number of Shares sold. Each Broker Warrant will entitle the holder to acquire one Share at an exercise price of C$1.10 per Share for a period of 24 months from the Closing Date.

Soma Gold Corp. also announced the completion of a shares-for-debt settlement transaction. The company settled an aggregate of C$25,780,086 owed to Conex Services Inc. in exchange for the issuance of 23,436,442 Shares at a deemed price of approximately C$1.10 per Share.

Offering Details

Debt Settlement Details

Soma Gold Corp. has announced the commencement of shipments of mined material from its Escondida Mine to the El Bagre Gold Complex in Colombia, marking a significant operational milestone following the completion of the first phase of underground rehabilitation at the site.

Escondida Mine Resumes Operations

The Escondida Mine had previously sustained damage, including to a second portal, during recent flooding, with repair work on that portal still ongoing. The completion of access road repairs has enabled haul trucks to reach the mine site, allowing mined material to be delivered directly to the El Bagre Gold Complex. The following table outlines the key production milestones associated with the Escondida Mine:

Further development work is required to reach the permitted capacity of 40 TPD. The mining license may be increased further pending results of a previously announced drilling program, which is currently underway on the property.

CEO Commentary and Broader Production Outlook

Geoff Hampson, Soma's CEO, commented on the development: "The commencement of deliveries from Escondida, combined with improved grades at the Cordero Mine, will bring gold production at El Bagre to the levels we had been anticipating for Q1. Over the coming months, shipment volumes and frequency will increase further, and we expect deliveries from the Aurora Mine to commence within weeks. Together, these developments position Soma for a strong second half of 2026."

Hampson also noted that the company continues to source feed material from Lemoncito Norte, El Limon, Diamantina, and other formalized and legal mining operations in the region.

About Soma Gold Corp.

Soma Gold Corp. is a gold mining company focused on production and exploration in Colombia. Key operational details include:

• Mineral Concessions: Over 430 square kilometres along the OTU fault in Antioquia
• Milling Operations: Two fully permitted mills located within 25 kilometres of each other
• Combined Milling Capacity: 675 tpd, with permitted expansion capacity of 1,400 tpd
• El Bagre Mill: Operates at 450 tpd
• El Limon Mill: Resumed operations in Q3 2025
• Exploration Financing: Funded through internally generated funds

The company also holds an exploration property near Tucuma, Para State, Brazil, which is currently under option to Ero Copper Corp. Soma Gold Corp. states a commitment to sustainability and community engagement across its operations.