SOMA GOLD REPORTS FINANCIAL RESULTS FOR THE THIRD QUARTER

• Production, sales and net income were negatively affected by the labor disruption, forcing the closure of operations September 9 to November 5, 2025resulting in a loss of 22 production days in the third quarter.
• Revenue for the third quarter of 2025 was $18.1 millionAnd $69.0 million for the nine months that have ended September 30, 2025 – an increase of $4.6 million (7%) compared to the nine months ended September 30, 2024despite the work stoppage.
• Net income was $0.4 million in Q3 and $5.2 million for the nine months that have ended September 30, 2025, compared to $0.6 million for the nine months that have ended September 30, 2024despite the work stoppage.
• Ebitda⁽¹⁾ was $6.2 million for the quarter and $27.8 million for the nine months that have ended September 30, 2025compared to $22.7 million for the same nine-month period in 2024, despite the work stoppage.
• Ebitda⁽¹⁾ per share $0.06 in Q3 and $0.29 for the nine months that have ended September 30, 2025 – an increase of $0.04 per share (16%) compared to the same period in 2024.
• Soma sold 4,068 AuEq ounces in the third quarter and 16,111 ounces in the nine months ended September 30, 2025compared to 20,845 ounces sold in the first nine months of 2024.
• The average realized cash margin per gold ounce sold⁽¹⁾ was $1,676 in Q3 and $1,643 for the nine months that have ended September 30, 2025 – an increase of $585 (55%) compared to the same period in 2024.
• In the third quarter, Soma raised gross revenue of $17.3 million in a private placement by issuing 14,997,826 units on $1.15 per unit (see press release dated August 20, 2025).
• The Company has made cash payments of $5.0 million toward its long-term debt and converted an additional amount $10.0 million of the loan to equity under the same conditions as the private placement (see press release dated August 18, 2025).

Soma Gold Corp. (TSXV: SOMA,OTC:SMAGF) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma”) is pleased to announce that its financial statements and MD&A for the three and nine months ended September 30, 2025 and 2024 have been filed on SEDAR+ and are also available on the Company’s website.

Operational Overview – Nine months ended September 30, 2025

• The unionized workers at the El Bagre gold mining complex were on strike September 9 until a new agreement was reached November 5. Operations there were halted during this period, including 22 days of production in the current quarter (see press release dated November 5, 2025). The closure also resulted in additional maintenance requirements to restart the plant; However, a return to full production levels is expected in mid-December.
• Soma produced 4,148 AuEq ounces in the third quarter of 2025 and 16,168 ounces in the nine months ended September 30, 2025 (compared to 20,565 AuEq ounces for the nine months ended September 30, 2024).
• The income from mining activities was $5.3 million in the third quarter of 2025 and $20.8 million for the nine months that have ended September 30, 2025 (compared to $17.0 million for the nine months that have ended September 30, 2024).
• Net income was $0.4 million in the third quarter of 2025 and $5.2 million for the nine months that have ended September 30, 2025 (compared to $0.6 million for the same period in 2024).
• Net profit per share was $0.00 in the third quarter of 2025 and $0.05 for the nine months that have ended September 30, 2025 (compared to $0.01 per share for the nine ended months September 30, 2024).
• Cordero Operations reported attributable cash costs per ounce of gold sold⁽¹⁾ by $1,633 in the third quarter of 2025 and $1,489 for the nine months that have ended September 30, 2025 (compared to $1,261 for the nine months that have ended September 30, 2024).
• Cash on hand September 30, 2025was $16.7 million

Financial and operational highlights for the past three and nine months September 30, 2025 and 2024

Geoff HamsonSoma’s president and CEO, said: “Results for the quarter were below expectations due to the strike by the company’s unionized employees, which resulted in a loss of 22 business days. The disruption reduced gold production and revenues by approximately 1,500 ounces, or $7.7 millionand reduced EBITDA by approx $3.1 millionHampson further states, “We are focused on completing the required repairs to the thickening and leaching tanks, where damage has occurred as a result of the extended inactivity. While these repairs are underway, we are operating at approximately 75% of full processing capacity and expect to return to full capacity by mid-December. I am pleased to have our team back at work and am confident that we can quickly re-establish the strong working relationships that have long characterized our operations.”

He added: “Our expansion plan remains firmly on track. We expect higher production levels next year as more mining areas come on stream in Aurora and Escondida and we advance the formalization of the Diamantina, Lemoncito Norte and other small mines on our property. With the labor dispute behind us, we move forward with renewed focus and a commitment to applying the lessons learned to strengthen our operations. Ultimately, it is clear that a strike benefits no one, and we remain committed to building of a stable, productive and collaborative work environment for all.”

The Company further announces the grant of 250,000 stock options to an officer of the Company under its stock incentive plan. The stock options vest over a period of three years and have an exercise price of € $1.61 per share, and expires five years after the date of grant.

ABOUT SOMA GOLD

Soma Gold Corp. (TSXV: SOMA,OTC:SMAGF) is a mining company focused on the production and exploration of gold. The company owns two adjacent mining sites in Antioquia, Colombiawith a combined grinding capacity of 675 TPD. (Allowed for 1,400 TPD). The el Bagre Mill is currently active and producing. Internally generated funds are used to finance a regional exploration program.

With a solid commitment to sustainability and community involvement, Soma Gold Corp. committed to achieving excellence in all aspects of its activities.

The company also owns an exploration site near Tucuma, Para State, Brazil which is currently under option with Ero Copper Corp.

On behalf of the Board of Directors

“Geoff Hampson”
General Manager and Chairman

For more information please contact Andrea Lairdphone: +1-604-259-0302

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, analyzes and other information in this press release regarding expected 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 “could” 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 operating results to differ materially from those in the forward-looking statements. Forward-looking statements are based on management’s estimates and opinions as of the date the statements are made. The Company undertakes no obligation to update any forward-looking statements, even if circumstances or management’s estimates or opinions should change, except as required by applicable law. Investors should not place undue reliance on forward-looking statements.

SOURCE Soma Gold Corp.

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