Soma Gold Provides Exploration Results Update

Highlights

• Drilling results have extended the mineralized zone over 155m (down-dip) below the deepest level of the Diamantina mine.
• Multiple +10g/t Au channel samples taken from the Diamantina mine (up to 67g/t Au).
• Drill hole ADDDH_21_02 intercepted 13.85g/t gold over 0.75m.

Soma has now completed 2,450m of the 3,500m planned for 2021 on the Estrella-Diamantina trend. The drilling and channel sample results have successfully identified a hydrothermal system including well developed quartz-carbonate veins. Au-Ag-As and Zn±Pb±Cu is the chemical footprint, indicating a shallow level for the system with potential for a better mineralized gold zone where structural traps may occur. Sericite is the primary alteration mineral inside the veins, with gold values related to the intensity of the alteration. The hydrothermal system is controlled by a sinistral-shear zone related to the major Otu-Pericos fault system.

Javier Cordova, Soma's CEO, states, "These results verify the continuity of the mineralization associated with the Otu Fault trend on the Company's property, and additional drilling might outline economic mineralization. Our team has successfully shown that the vein systems that were mined at surface by artisanal miners continue down dip and on strike. Based on the mapping of the surface works, Soma has targeted over 1 million ounces on the property which we expect to quantify through our planned multi-year drilling program."

Alacran-Diamantina zone
This zone is located 2 km to the south west of the Company's past producing, high-grade El Limon mine and is at the southern end of the larger 7-km Estrella-Diamantina mineralized trend (see map #1). The seven drill holes, totaling 2,450m, reported in this press release, represent approximately 70% of the planned 2021 program and were completed by the end of July (see cross-section #1). The remaining drilling will be completed by the end of August 2021.

Highlights include:

• Drill hole ADDDH_21_01 intersected 0.70 meters, from 48.30 to 49.00m, of milky quartz-carbonates vein with veining of sulphides, mainly pyrite and sphalerite, grading 5.43 g/t Au.
• Drill hole ADDDH_21_02 intersected 0.75 meters, from 105.20 to 105.95m, of milky quartz-carbonates vein with sulphide veining, mainly pyrite and sphalerite, grading 13.85 g/t Au (see picture #1).
• Drill hole ADDDH_21_03 intersected 1.30 meters, from 100.3 to 101.6m, of milky quartz-carbonates vein with scarce pyrite and sphalerite, grading 1.96g/t Au.
• • The above includes 0.60 meters of fine-grained sphalerite and pyrite grading 3.1g/t Au, starting at 101.0 meters.
• Drill hole ADDDH_21_04 intersected 0.40 meters, from 10.50m to 10.90m, of milky quartz-carbonates vein with sulphide veining, mainly pyrite and sphalerite, grading 4.28 g/t Au and 0.80 meters, from 20.40 to 21.20m, of milky quartz-carbonates vein with pyrite veining, grading 6.09 g/t Au.
• Drill hole ADDDH_21_05 intersected 0.83 meters, from 210.15 to 210.98m, of milky quartz-carbonates vein with semi-massive pyrite, galena and sphalerite, grading 7.92g/t Au (see picture #1).

*Widths reported are drilled core lengths. Drill holes were oriented to be perpendicular to the dip of the veins, and management believes the reported intersections approximate their true widths.

The Company's second channel sampling campaign at the Diamantina mine has returned high-grade gold assay results from 30m of new mine development in level one (see table # 1). Detailed mapping at this shallow underground tunnel has exposed a shear-hosted quartz-carbonated vein with pyrite, sphalerite and galena as the main sulfides. Twenty two (22) channel samples were collected by hand, using hammer and chisel, perpendicular to the exposed mineralized quartz-carbonate vein to best represent true width. The channel samples results support the presence of the high grades previously reported. The high grades and vein continuity remain open along strike and down-dip.

Further channel sampling and mapping are in progress to cover all the known underground workings at Estrella-Diamantina target.

Table #1. Channel sample assays. *Lengths are sampled intervals lengths and not necessarily true widths. Samples were taken in a manner to reflect, as closely as possible, true width.

QA/QC CONTROLS

For exploration core drilling, the company applied its standard protocols for sampling and assay. NQ core is sawn or split with one-half shipped to a sample preparation laboratory in Medellin run by ALS Colombia Limited ("ALS"). Channel samples were collected by hand using hammer and chisel perpendicularly across exposed mineralized quartz-carbonate vein to best represent the true width. Channel sample locations were surveyed using total station. Each sample location have been photographed with channel traces painted to indicate the location and orientation of each sample. Samples are then shipped for analysis to an ALS-certified assay laboratory in Toronto, Canada and Lima, Perú. The samples were analyzed for gold using standard fire-assay on a 50-gram sample with an AA finish. Multi-element geochemistry was determined by ICP-MS using either aqua regia (ME-MS41) or four acid (ME-MS61) digestions. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. Comparison to control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. The remainder of the core is stored in a secured storage facility for future assay verification.

Mr. Edwin Naranjo Sierra, FAusIMM, MSc, Senior geologist, Director of Exploration for Soma Gold Corp. is the Qualified Person, within the meaning of NI 43-101. Mr. Naranjo is satisfied that the analytical procedures and best practices used are standard industry methodologies, and he has reviewed and approved the technical information disclosed in this news release.

ABOUT SOMA GOLD

Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.

The Company also owns an exploration and development property near Tucuma, Para State, Brazil.

On behalf of the Board of Directors

"Javier Cordova Unda"
Chief Executive Officer and President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.

SOURCE Soma Gold Corp.



Contact
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