REG - SolGold PLC - Company Update

SolGoldAnnouncement

16/10/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241016:nRSP3897Ia&default-theme=true

RNS Number : 3897I  SolGold PLC  16 October 2024

16 October 2024

SolGold plc

("SolGold" or the "Company")

Company Update

SolGold plc (LSE & TSX: SOLG) is pleased to provide an update highlighting
key developments related to the Cascabel Project as Management continues to
advance one of the world's premier copper-gold projects.

Cascabel Project Update

SolGold is pleased to announce that the infrastructure investigation program
has been optimised to include a ground geophysical assessment (seismic) that
will reduce the amount of drilling required while offering a more
comprehensive understanding of the foundation conditions. The contracted
drillers are preparing to mobilize as the drill hole locations designed to
test plant and portal locations are set up for drilling. These holes will also
be part of a broader mine geotechnical program, which includes drilling for
the declines, underground mine design and other site infrastructure.
 Additionally, selected core samples will be assayed for mineralization,
providing critical data as the Project progresses. This work represents a
significant milestone in ensuring the infrastructure is developed to meet the
highest safety and operational standards.

Permitting

SolGold continues to make progress on the permitting front, and the process
has been divided into three critical areas:

1.   Cascabel Mine Site Infrastructure Permitting

2.   Tailings Storage Facility (TSF) Permitting

3.   Port and Pipeline Permitting

The Company currently expects the Environmental and Social Impact Assessment
(ESIA) documents to be submitted to the Ecuadorian regulatory authorities by
the end of Q3 2025.  The indicative permitting schedule is shown below:

The schedule is based on current assumptions and should not be considered
definitive. The Permitting Schedule will be adjusted as further information
becomes available, and updates will follow as the permitting process
progresses.

Investor Events in October 2024

This month, SolGold participated in the RBC Sparks Flying Copper Developers
Summit and will present at the upcoming Red Cloud Fall Mining Showcase. These
events provide an opportunity to share the Company's progress at the Cascabel
Project and engage with investors and industry stakeholders.

SolGold will also participate at the CGS Colombia 2024 conference on October
29-30, providing a unique opportunity to engage with key regional stakeholders
in Latin America and highlight the Cascabel Project's progress and future
development plans.

New Team Members

SolGold welcomes two key additions to the Project team, further strengthening
our technical and sustainability capabilities to make Cascabel a turn-key
project:

·      Reed Huppman has joined SolGold as Vice President of Environment,
Social, and Governance (ESG). He brings over 40 years of experience as an
environmental geologist and sustainability consultant. Reed has worked in over
50 countries across mining, oil, gas, and infrastructure sectors. His
extensive experience in aligning projects with international ESG standards
(such as the Equator Principles and IFC Performance Standards) will play a key
role in facilitating the regulatory approvals and financing of the Cascabel
Project. Reed is an IFC-certified trainer in 2006 PSs and an industry expert
in EHS management systems, biodiversity offsets, corporate social
responsibility, stakeholder engagement, and sustainability. During the last
four years, Mr. Huppman has supported over $50 billion in project finance.

·      Ash Martin has joined SolGold as Vice President of Project
Engineering, bringing over 20 years of mining construction and development
experience, along with a bachelor's degree in civil and construction
engineering. Mr. Martin held several key positions at Guyana Goldfields,
including Construction Manager for the Aurora Gold Mine. At Voyager Metals, he
served as Vice President of Technical Services and later as Chief Operating
Officer. Ash also brings valuable experience from his time at Knight Piésold,
a globally recognized mining consultancy. His technical expertise will be
instrumental in overseeing the planning and development of Cascabel's project
infrastructure, particularly in ensuring the safety and efficiency of tailings
management and other critical infrastructure.

Looking Ahead

With the imminent mobilisation of geotechnical drillers, the addition of key
technical experts, and continued investor engagement, SolGold remains focused
on advancing the Cascabel Project through its next stages. SolGold's upcoming
participation in the CGS Colombia conference will further strengthen our
relationships with regional partners and highlight our commitment to
responsible project development.

The Company looks forward to providing further updates on these initiatives as
it continues to make meaningful progress across all fronts.

CONTACTS

 Chris Robinson

 Director of Corporate Operations                                    Tel: +44 (0) 20 3807 6996

 & Communications

 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEQLBFZBLXFBV