SOLGOLD PLC ORD - SLGGF STOCK NEWS

SolGold's General Meeting on June 30, 2022, confirmed that all shareholder resolutions were approved via poll. Key results include:

• Directors' Remuneration Policy: 69.24% in favor.
• Long Term Incentive Plan: 86.33% in favor.
• Performance Bonus Plan: 86.27% in favor.
• Articles of Association: 99.70% in favor.

Despite the approvals, Resolution 1 received over 20% opposition, prompting the Board to engage with shareholders about their concerns.

SolGold announced an amendment to its Long Term Incentive Performance Plan ahead of an Extraordinary General Meeting (EGM) on June 30, 2022. The key change involves raising the Change of Control asset disposal threshold from 30% to 50%, addressing shareholder concerns. Resolutions 1 and 4 remain unchanged. The Board believes these amendments benefit shareholders. The EGM will take place at HopgoodGanim, Brisbane, and virtually via Lumi platform. Shareholders unable to attend should submit proxy votes as instructed.

On June 20, 2022, SolGold PLC announced that BlackRock, Inc. crossed a significant threshold in its voting rights in the company. As of June 17, 2022, BlackRock holds a total of 5.31% of voting rights, comprising 4.87% from direct shares and 0.44% from financial instruments. This marks an increase from its previous holding of below 5%. The announcement highlights BlackRock's ongoing investment in SolGold, potentially indicating confidence in the company's future development.

SolGold announces a General Meeting of Shareholders scheduled for 30 June 2022, at 9:00 PM (Brisbane time) to discuss important company matters. The meeting will be held at HopgoodGanim in Brisbane, Australia, and can be attended remotely through an online terminal. Shareholders of record as of 19 May 2022 will receive related documents via SEDAR and the SolGold website. The Alpala deposit in Ecuador, a target for copper and gold, exemplifies SolGold's focus on resource development and community engagement.

SolGold has announced an updated Mineral Resource Estimate for its Tandayama-America (TAM) copper-gold deposit in Ecuador, which shows a total resource of 528.5Mt at 0.36% CuEq, containing 1.27Mt Cu and 3.16Moz Au. This marks increases of 0.74Mt Cu and 1.96Moz Au compared to the previous estimate from October 2021. The deposit shares geological similarities with the Alpala deposit, located just 3km away. Ongoing drilling at the Moran target aims to further assess the mineralisation potential, which has shown promising results with visible copper sulphide mineralisation.

The Board of Directors of SolGold has announced the immediate resignation of Executive Director Jason Ward. He will transition his responsibilities in Ecuador to a new Head of Ecuador while retaining his role as Head of Exploration and community relations. The Board acknowledges Mr. Ward's significant contributions to the company, particularly in advancing the Cascabel project and other exploration efforts in Ecuador. SolGold continues to focus on developing its portfolio of copper and gold deposits, leveraging Mr. Ward's expertise as it progresses its strategic objectives.

SolGold announced the filing of its Quarterly Financials and Management Discussion and Analysis for the period ending 31 March 2022. The reports are available on their website. The company, focused on copper-gold exploration, primarily in Ecuador, aims to develop world-class deposits, notably the Cascabel project. SolGold holds an 85% interest in Exploraciones Novomining S.A. and approximately 5.60% of Cornerstone Capital Resources Inc., the remaining interest holder in the Cascabel concession.

SolGold announced the appointment of Ayten Saridas as the new Group Chief Financial Officer effective June 27. Saridas brings over 30 years of international corporate finance experience, including her previous role as Group CFO at Coronado Global Resources. Her expertise includes capital raising, financial reporting, and M&A. Managing Director Darryl Cuzzubbo expressed confidence in her leadership to assist SolGold in achieving its growth plans. Ingo Hofmaier will continue as interim CFO until Saridas assumes the role.

SolGold has released a positive Pre-Feasibility Study (PFS) for its Cascabel project, indicating strong potential as a large, low-cost copper-gold mine in Ecuador. The study estimates a US$5.2 billion pre-tax Net Present Value and a 25.3% Internal Rate of Return, with annual after-tax free cash flow averaging US$740 million. The project is projected to produce significant quantities of copper, gold, and silver, benefiting from favorable infrastructure and a supportive government. The mine could create over 6,000 jobs and generate substantial tax revenue.