REG - SolGold PLC - Robust Drilling Results at Tandayama América

SolGoldAnnouncement

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RNS Number : 0774D  SolGold PLC  13 October 2025

 

13 October 2025

 

SolGold plc

("SolGold" or the "Company")

Reports Additional Robust Drilling Results at

Tandayama América, Extending Mineralised Zone

HIGHLIGHTS

·    Hole TAD-25-070 intersected:

o 158.2 m @ 0.64% CuEq (0.33% Cu, 0.36 g/t Au) from 7.8 m, including

o 50.2 m @ 0.70% CuEq (0.42% Cu, 0.32 g/t Au) from 7.8 m, and

o 56 m @ 0.86% CuEq (0.39% Cu, 0.55 g/t Au) from 86 m

·    Hole TAD-25-066 intersected:

o 125.5 m @ 0.47% CuEq (0.21% Cu, 0.30 g/t Au) from 16.5 m, including

o 80 m @ 0.63% CuEq (0.29% Cu, 0.40 g/t Au) from 40 m

·    Assay results supplement the previously announced intersections and
confirm broad, continuous mineralisation from surface, extending the
mineralized zones near surface and along strike.

·    Results further strengthen SolGold's staged open-pit-to underground
development strategy at Cascabel.

·    Assays pending for Holes 71 - 74, expected early November, with holes
72, 73, and 74 showing visual indications of strong mineralisation. (Figure 6)

SolGold (LSE: SOLG) is pleased to announce new assay results from the
Tandayama América ("Tandayama") deposit, part of the Company's 100%-owned
Cascabel copper-gold project ("Cascabel" or the "Project") in northern
Ecuador. Cascabel hosts the world-class Alpala underground reserve and the
Tandayama América open-pit and underground resources, located approximately 3
km to the north of Alpala.

Tandayama has become a central focus of SolGold's plan to deliver a phased
development pathway, beginning with low-capex, near-surface production with
the potential to provide early mill feed to Alpala's planned processing
facilities and accelerate cash flow generation with reduced preproduction
capital investment.(1)

Dan Vujcic, Chief Executive Officer, commented:

"We continue to see a strong run of near-surface results at Tandayama
América, reinforcing the importance of this deposit within the Cascabel
concession. These intercepts highlight the type of shallow, economically
attractive material that can support an accelerated, capex-lite start-up
strategy while significantly de-risking the overall project plan.

With several holes nearing completion and showing encouraging mineralisation
visible in the core, we expect further robust results; every metre drilled
increases our understanding regarding the open pit potential at Tandayama. As
we head into LME Week, I'm looking forward to sharing with investors how the
Tandayama América results speak to the quality of the project and district
potential."

DRILLING SUMMARY

Hole 70 returned strong copper-gold grades from surface, expanding the known
mineralised zone laterally. The consistency and width of mineralisation
confirm the presence of coherent, near-surface mineralisation suitable for
open-pit evaluation.

These results build upon previously reported high-grade intersections,
including:

·    164.4 m @ 0.70% CuEq from 22m (TAD-25-052)(1);

·    140 m @ 0.92% CuEq from 8 m (TAD-25-058)(2); and

·    166 m @ 0.44% CuEq from 20 m (TAD-25-065)(3)

Drilling of Holes 71 - 74 is currently underway, with encouraging
mineralisation visible in holes 72, 73, and 74.

Table 1: Mineralised Intersections in Holes 66, 67, 68, 69, and 70

STRATEGIC SIGNIFICANCE

·    De-risking and optionality: Tandayama offers a potential low-strip,
near-surface ore source that is targeted to materially enhance project
economics and funding flexibility, providing a value-accretive opportunity
with scope to increase project IRR and net asset value through near-term
production.

·    Integrated development: Open-pit output from Tandayama is targeted to
provide early plant feed ahead of full underground production from Alpala and
generate substantial surplus revenue to finance underground development.

·  District-scale upside: Step-out targets, including Tandayama West and
the underground Tandayama resource, remain under evaluation following positive
surface geochemistry and magnetic anomalies reported in September 2025.(3)

NEXT STEPS

·    Completion of drilling for Holes 71 - 74 by the end of October.

·    Additional assay results expected between mid-October and
mid-November 2025.

·    Integration of updated data into pit optimisation and mine-design
studies.

Figure 1. Map of the Tandayama América Deposit showing the preliminary
design of Pits 1 and 2, the holes drilled to date, the holes currently being
drilled and planned.  Gold soil anomaly map, where high gold anomalies
coincide with pit 1 and pit 2 and show other exploration targets towards the
northwest of pit 2, and towards the west of pit 1 and 2 (Tandayama-West), and
Tandayama underground in the southeast.

Figure 2. Map showing the preliminary design of Pit 1 and Pit 2, and all the
holes drilled to date, indicating the % CuEq grades along the holes. The holes
reported in this news release are labelled in red.

 

Figure 3. Pit 1 section showing preliminary pit design, the 0.16% CuEq shell
and the nearby holes projected onto section.

Figure 4. Pit 2 section showing preliminary pit design, the 0.16% CuEq shell
and nearby holes projected onto section.

Figure 5. Representative core photographs from holes 66, 67, 68, 69 and 70. A)
Diorite (D10), hosting chalcopyrite-bearing B1-B2 veins overprinted by pyrite
veins (0.37% Cu, 0.79 g/t Au).  B)  D10, hosting chalcopyrite-bearing B2
veins and reopened by C veins (0.35% Cu, 0.51 g/t Au). C) D10, hosting
chalcopyrite-bearing B-vein with chalcopyrite patches (0.53% Cu, 0.92 g/t
Au). D) Intrusive Breccia (IBX), hosting chalcopyrite and B vein. (0.11% Cu,
0.195 g/t Au). E) Pyroxene-bearing basalt, hosting disseminated chalcopyrite
(0.018% Cu, 0.58 g/t Au). F) Diorite (D15), hosting chalcopyrite-bearing B2
vein (0.21% Cu, 0.36 g/t Au).  G) IBX, hosting chalcopyrite-bearing B2 vein,
reopened by calcite vein (0.62% Cu, 0.81 g/t Au). H) D10, hosting
magnetite-chalcopyrite-bearing B1 veins (0.39% Cu, 0.56 g/t Au).  I) Quartz
Diorite (QD15), hosting chalcopyrite and magnetite-bearing B1 vein (0.79% Cu,
0.84  g/t Au).   J) IBX, hosting chalcopyrite and magnetite veins (0.55% Cu,
1.04 g/t Au). K) IBX, hosting chalcopyrite, B1 veins and C veins (0.38% Cu,
0.88 g/t Au). L) Lapilli tuff, hosting chalcopyrite and sphalerite-bearing,
base-metal vein in the left-hand side of photo (0.25%Cu, g/t 0.32 g/t Au).

 

Figure 6. Representative core photographs from holes 72 and 73. A) Intrusive
Matrix Breccia (IBX), hosting chalcopyrite-bearing B veins. B) IBX, hosting
chalcopyrite-bearing B veins and C veins. C) IBX, hosting chalcopyrite-bearing
B veins and C veins. D) IBX, hosting chalcopyrite and B veins. E) IBX, hosting
chalcopyrite-bearing B veins. F) IBX, hosting chalcopyrite-bearing B veins and
C veins. G) IBX, hosting chalcopyrite, B veins and C veins. H) Lapilli tuff
(V), hosting chalcopyrite and B veins.

 

CONTACTS

 Dan Vujcic                        Tel: +44 (0) 20 3807 6996

 Chief Executive Officer

 Canaccord Genuity Limited         Tel: + 44 (0) 20 7523 8000

 James Asensio / Charlie Hammond

 Broker

ENDNOTES:

1.   Refer to News Release Dated 28 July 2025: SolGold plc Reports
Multiple High-Grade Intervals at Tandayama-América as Part of Cascabel
Execution Plan: Link
(https://polaris.brighterir.com/public/solgold/news/rns/story/xl9vv9x)

2.   Refer to News Release Dated 15 August 2025: SolGold plc Reports
Exceptional Near-Surface Copper-Gold Intercepts at Tandayama América: Link
(https://polaris.brighterir.com/public/solgold/news/rns/story/rm7ppnr)

3.   Refer to News Release Dated 17 September 2025: SolGold plc Reports
Drilling at Tandayama Advances Early Open Pit Strategy & Supports
Development Studies: Link
(https://polaris.brighterir.com/public/solgold/news/rns/story/xoj401r)

COPPER EQUIVALENT CALCULATION

Copper equivalent (CuEq) values have been calculated using the following
formula:

CuEq (%) = Cu (%) + [Au (g/t) × 0.858]

Copper equivalent (CuEq) values are calculated using a gold price
of US$2,500/oz and a copper price of US$4.25/lb, and do not account for
metallurgical recoveries. Recoveries will be updated as metallurgical test
work advances.

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 in the interests of its 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 (LSE: SOLG).

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

 

QUALIFIED PERSON

 

The scientific and technical disclosure included in this news release has been
reviewed and approved by Mr. Santiago Vaca (M.Sc. P.Geo.), a Qualified Person
as defined under National Instrument 43-101 - Standards of Disclosure for
Mineral Projects.

 

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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