REG - SolGold PLC - Cascabel Project Update

SolGoldAnnouncement

14/08/2024 07:00

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RNS Number : 3434A  SolGold PLC  14 August 2024

14 August 2024

SolGold plc

("SolGold" or the "Company")

Cascabel Project Update

SolGold (LSE & TSX: SOLG) is pleased to provide stakeholders with an
update on SolGold's activities to de-risk and advance the Cascabel Project,
underscoring Management and the Board's commitment to timely execution and
project milestones.

Geotechnical Program Underway

SolGold is progressing with a comprehensive geotechnical program designed to
determine the optimal locations for future infrastructure at Cascabel,
including the process plant, tailings storage facility (TSF), camp, waste
dumps, and surface workshops. The program will also provide information with
respect to any unexpected mineralisation. The contract for the program has
been awarded to an Ecuadorian company that specialises in geotechnical
drilling, which will be supervised by SolGold's in-house geotechnical team.
The first drill for this vital work is scheduled to be mobilised in the third
quarter of this calendar year, marking a critical milestone in the project's
lifecycle.

Project Team Formation

Management is actively establishing the Project team, targeting to secure all
positions by early Q4 calendar 2024. The team will comprise experts in various
fields such as Mining (Block Caving, Sublevel Caving, and Open Pit mining),
TSF, Logistics, Infrastructure, Civil, Geology, Metallurgy, Process Plant,
Environmental Management and Permitting, Scheduling and Cost Control, and
Offtake Marketing. Several key roles have already been filled, bringing
seasoned professionals on board to steer Cascabel toward its full potential.
Management is also reviewing Expressions of Interest from various independent
consultants and firms who will be engaged in additional components of the
de-risking activities. A civil engineering consultant with extensive TSF
experience has been retained, and a site visit was completed in August.

Permitting Milestones

SolGold is also pleased to report the successful acquisition of key permits
that will further expedite the activities necessary to advance Cascabel's
development:

·      Cascabel Underground Exploration Permit: The permit enables
SolGold to proceed with the underground exploration plans and develop the
mine's future portal and declines.

·      Geotechnical Drilling: The geotechnical drilling program is fully
permitted for all areas of the Project to be examined.

Looking Forward

SolGold is preparing for the upcoming geotechnical drilling and the official
selection of the project management group following the tender process.
Regular updates on these activities will be shared to keep our stakeholders
well-informed as progress continues.

 

CONTACTS

 Scott Caldwell

 SolGold Plc (CEO)                                                   Tel: +44 (0) 20 3807 6996

 Tavistock (Media)

 Jos Simson/Gareth Tredway                                           Tel: +44 (0) 20 7920 3150

ABOUT SOLGOLD

SolGold is a leading resources company focused on the discovery, definition
and development of world-class copper and gold deposits and continues to
strive to deliver objectives efficiently and in the interests of shareholders.

The Company operates with transparency and in accordance with international
best practices. SolGold is committed to delivering value to its shareholders
while simultaneously providing economic and social benefits to impacted
communities, fostering a healthy and safe workplace, and minimizing
environmental impact.

SolGold is listed on the London Stock Exchange and Toronto Stock Exchange
(LSE/TSX: SOLG).

See www.solgold.com.au (http://www.solgold.com.au) for more information.
Follow us on X @SolGold_plc.

 

CAUTIONARY NOTICE

News releases, presentations and public commentary made by SolGold plc (the
"Company") and its Officers may contain certain statements and expressions of
belief, expectation or opinion which are forward looking statements, and which
relate, inter alia, to interpretations of exploration results to date and the
Company's proposed strategy, plans and objectives or to the expectations or
intentions of the Company's Directors, including the plan for developing the
Project currently being studied as well as the expectations of the Company as
to the forward price of copper. Such forward-looking and interpretative
statements involve known and unknown risks, uncertainties and other important
factors beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially different from
such interpretations and forward-looking statements.

Accordingly, the reader should not rely on any interpretations or
forward-looking statements; and save as required by the exchange rules of the
TSX and LSE or by applicable laws, the Company does not accept any obligation
to disseminate any updates or revisions to such interpretations or
forward-looking statements. The Company may reinterpret results to date as the
status of its assets and projects changes with time expenditure, metals prices
and other affecting circumstances.

This release may contain "forward looking information". Forward looking
information includes, but is not limited to, statements regarding the
Company's plans for developing its properties. Generally, forward looking
information can be identified by the use of forward-looking terminology such
as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".

Forward looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward looking information,
including but not limited to: transaction risks; general business, economic,
competitive, political and social uncertainties; future prices of mineral
prices; accidents, labour disputes and shortages and other risks of the mining
industry. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended.  There can be no assurance that
such information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements.
Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to, risks relating to
the ability of exploration activities (including assay results) to accurately
predict mineralization; errors in management's geological modelling and/or
mine development plan; capital and operating costs varying significantly from
estimates; the preliminary nature of visual assessments; delays in obtaining
or failures to obtain required governmental, environmental or other required
approvals; uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation; the global
economic climate; fluctuations in commodity prices; the ability of the Company
to complete further exploration activities, including drilling; delays in the
development of projects; environmental risks; community and non-governmental
actions; other risks involved in the mineral exploration and development
industry; the ability of the Company to retain its key management employees
and skilled and experienced personnel; and those risks set out in the
Company's public documents filed on SEDAR+ at www.sedarplus.ca. Accordingly,
readers should not place undue reliance on forward looking information. The
Company does not undertake to update any forward-looking information, except
in accordance with applicable securities laws.

The Company and its officers do not endorse, or reject or otherwise comment on
the conclusions, interpretations or views expressed in press articles or
third-party analysis.

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