SOLGOLD PLC ORD - SLGGF STOCK NEWS

SolGold has announced a conditional offer for subscription of new ordinary shares via PrimaryBid, alongside a non-pre-emptive placing of new shares through an accelerated bookbuild process. The Retail Offer is aimed at both private and institutional investors and will close at 9:00 p.m. on April 27, 2021. Proceeds from the offering, which is conditional upon admission to the London Stock Exchange and TSX, will fund 40,000 meters of diamond core drilling and support the company's exploration efforts in Ecuador, particularly at its flagship Alpala project.

SolGold has provided an update on the Pre-Feasibility Study (PFS) for the Alpala copper-gold project in Ecuador. The company is optimistic about a revised mining plan that focuses on selective mining methods, aiming for earlier access to resources and reduced pre-production capital costs. The Alpala deposit holds 2,663 Mt at 0.53% CuEq, containing significant copper, gold, and silver. The PFS is on track for late 2021 release, with potential mining advantages and cost savings highlighted. SolGold remains committed to delivering shareholder value amidst a growing market demand for copper.

SolGold has provided an update on its regional exploration program in Ecuador, showcasing significant progress at the Porvenir project. Recent drilling has yielded promising results at the Cacharposa target with notable intersections:

• Hole 5: 528m @ 0.35% CuEq
• Hole 6: 818m @ 0.41% CuEq
• Hole 7: 570m @ 0.75% CuEq

Additionally, the company is advancing exploration at other targets, including Cerro Quiroz and Tinkimints. Three drill rigs are currently active, supporting ongoing drilling efforts across 75 concessions.

SolGold has provided an update on the Alpala Pre-Feasibility Study (PFS) concerning its Cascabel project in Ecuador. Following a review by the Project Committee, it was determined that further work is needed to explore mine development and metallurgical options. CEO Nick Mather emphasized the aim to minimize initial capital expenditure and enhance project viability. Additional drilling and resource assessment are ongoing, with the updated PFS anticipated by late 2021. The company remains optimistic about delivering a comprehensive study that leverages potential resources throughout the concession.

SolGold has initiated drilling at the Tandayama-America porphyry copper-gold target within its Cascabel Project, located in Ecuador. This operation utilizes two diamond drill rigs as part of the ongoing feasibility drilling program. Initial results from channel sampling in Tandayama Creek show a significant 37m @ 0.25% CuEq. Drilling has revealed visible chalcopyrite and molybdenite mineralization at depths of 55m and 199m in the first hole.

These developments signal a strategic move to explore previously untested areas while prioritizing the project's growth amid increasing exploration activity.

SolGold announced final assay results for drill hole one (PDH-20-001) at the Porvenir Project. The results revealed 899.3m @ 0.53% CuEq (0.40% Cu, 0.18g/t Au) from 10m, with significant mineralization indicating potential for further exploration. The hole ended in chalcopyrite and molybdenum mineralization, remaining open at depth. Ongoing drilling includes PDH-20-003 and PDH-20-004, which intersected visible chalcopyrite mineralization. The project is part of SolGold's broader strategy to explore its extensive portfolio in Ecuador.

SolGold Provides Update on Porvenir Project

On December 3, 2020, SolGold announced assay results for the first two drill holes at the Porvenir Project in Ecuador, revealing substantial mineralization. Drill hole PDH-20-001 showed 748m at 0.59% CuEq, while PDH-20-002 showed 500m at 0.51% CuEq. Currently, three drilling rigs are active, including PDH-20-003 and new rigs for further exploration. Assay results for depths beyond the initial measurements are pending, bolstering optimism about the project's mineral potential.

SolGold has provided an update on its Pre-Feasibility Study (PFS) for the Alpala Project in northern Ecuador. The completion has faced delays due to COVID-19 restrictions affecting access to the site and laboratories. Redesigns of underground infrastructure and mine schedules are underway, with preliminary financial modeling expected in December 2020. An updated PFS will include additional optimization efforts, focusing on metallurgy, seismicity studies, and sustainability improvements. A review by the newly formed Alpala Project Committee is set for completion by January 2021.