Sonoro Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Sonoro Gold Corp. is a junior gold exploration, development and, soon to be, gold producer with properties in the mining-friendly jurisdiction of Sonora, Mexico. The Company's flagship Cerro Caliche gold project is in the final permitting stage for an initial 12,000 tonnes per day open-pit, heap leach mining operation (HLMO).

Sonora is one of Mexico's leading mining states and an important producer of gold, silver, copper, iron and non-metallic minerals. High-skilled workforce, first-class infrastructure and pro-mining climate have positioned Sonora as a premier mining destination.

“National and foreign investors have nothing to worry about, their investments in Mexico are safe, obviously within the framework of our laws,” President Sheinbaum.

Insiders hold over 24% of 206.92 million Issued and Outstanding shares and the Company boasts a strong retail shareholder base across Canada, USA, Germany and Switzerland.

Sonoro maintains a clear business plan and execution strategy to bring Cerro Caliche into production to finance ongoing drilling campaigns designed to materially expand the project's oxide gold resource.

Management continues to successfully secure financing including multiple over-subscribed non-brokered private placements totaling over CAD $23.2 million.

Company Highlights

• Publicly listed gold exploration and development company
• Highly experienced management team in financing & developing mineral resources
• Highly experienced technical team in discovering & developing gold deposits with 5M oz discovered
• Collectively developed 12 gold and copper mines
• Two precious metals properties in Sonora, Mexico
1. Cerro Caliche Gold Project – Flagship
2. San Marcial Gold & Silver Project

FLAGSHIP PROJECT

Cerro Caliche Gold Project, Sonora State, Mexico

Location:

• The 1,400-hectare Cerro Caliche gold project is strategically situated between the two world-class mining districts of the Sierra Madre Gold Belt and the Sonora-Mojave Megashear
• 3 hours north of the state capital, Hermosillo; 3 hours south of Tucson, Arizona
• First class infrastructure
• Pro-mining jurisdiction
• Neighbouring gold mines:
• Bear Creek Mining's Mercedes Gold Mine
• Agnico Eagle's Santa Gertrudis Gold Project
• Magna Gold Corp.'s San Francisco Mine

In May 2022, the Company filed its Environmental Impact Statement (Manifestacion de Impacto Ambiental or MIA) permit application for the development of an open pit, heap leach mining operation.

Exploration to date at Cerro Caliche includes 498 drill holes over 55,300 meters, confirming a broadly mineralized low-sulphidation epithermal vein structure and over 25 northwest-trending gold mineralized zones along trend and near surface.

With only 30% of the property's identified mineralized zones drilled and assayed to date, the Company filed an updated Mineral Resource Estimate (MRE) in March 2023. In October 2023, the Company filed a new Preliminary Economic Assessment (PEA), demonstrating the potential viability for a 9-year open pit, heap leach mining operation.

Updated Mineral Resource Estimate (at 0.20 g/t AuEq Cut-off Grade)

• Indicated Mineral Resources of 19.9 Mt at 0.44 g/t Au and 3.5 g/t Ag grade;
• Contains within an optimized pit shell:
• 280,000 Au ounces
• 2,240,000 Ag ounces
• 290,000 AuEq ounces
• Inferred Mineral Resources of 10.5 Mt at 0.42 g/t Au and 4.0 g/t Ag grade;
• Contains within an optimized pit shell:
• 140,000 Au ounces
• 1,345,000 Ag ounces
• 150,000 AuEq ounces

SRK Consulting (U.S.) Inc. January 26, 2023

2023 Updated Preliminary Economic Assessment (PEA) Highlights:

(Base case parameters assume $1,800/oz gold and $23/oz silver)

The PEA demonstrates the potential viability for a nine-year life-of-mine (LOM), open-pit, heap-leach mining operation with an initial two-year production rate of 4,000 metric tonnes per day and an increase to 12,000 mtpd for the remaining LOM.

• Pre-Tax net present value discounted at 5% (NPV5) of USD $71.4 million
• Pre-Tax Internal Rate of Return (IRR) of 59%
• After-Tax NPV5 of USD $47.7 million with an IRR of 45%
• Gold recovery of 72% and silver recovery of 27%
• 9-year Life of Mine (LOM) with 297,575 ounces (oz) of gold equivalent (AuEq)
• LOM annual average production of 33,000 oz AuEq at 0.45 g/t AuEq
• Initial CAPEX costs of USD $15.5 million, including USD $1.83 million in contingency
• Sustaining capital costs of USD $15.5 million
• Cash operating costs of USD $1,295/oz AuEq
• All-in-Sustaining Cost (AISC) of USD $1,395/oz AuEq
• Payback period of 2.9 years (See news release dated October 16, 2023)

The PEA is preliminary in nature and includes inferred resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty the estimates presented in the PEA will be realized. The results of the economic analyses represent forward-looking information as defined under Canadian securities law. The results depend on inputs that are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those presented.

Development of the proposed mining operation will proceed alongside upcoming drilling campaigns designed to materially expand the project's oxide gold mineralization and potentially enhance the overall economics of the project.

A proposed targeted expansion drilling campaign of approximately 9,000 meters and 56 drill holes is designed to increase the minable resource and extend the pit shells. Drilling will initially focus on the western mineralized zones where the Company plans to commence mining operations and where prior drilling demonstrated multiple high-grade ore shoots. Drilling is also planned in the northern mineralized zones to potentially increase and upgrade the resource as well as in the central mineralized zones to potentially increase the pit shell resource and reduce the strip ratio.

The Company has also identified potential resource expansion targets along the property's northwestern corridors where prior drilling confirmed gold-silver mineralized intervals. A recent surface sampling program included 608 samples with lengths of 1.0 to 2.0 meters with assays of up to 24.8 g/t Au. The drilling program was scheduled to commence once Cerro Caliche is in production but may be moved up if permitting delays continue.

Management

Management and Directors

John Darch, Chairman & Director

40 years' experience as financier, developer and operator in the international resource sector.

Jorge Diaz, Vice-Chairman & Director, Vice President of Operations

50 years' mining experience including development and construction of the Mulatos Mine and La Colorada Mine.

Kenneth MacLeod, President & Chief Executive Officer

40 years' experience in international resource development.

Melvin Herdrick, P.Geo., Vice President of Exploration

50 years' experience in mineral discovery, exploration and project development.

Oscar González, Chief Geologists & Project Manager

20 years experience in mineral exploration and development within Mexico.

Salil Dhaumya, CPA, CMA, Chief Financial Officer

25 years' experience with public exploration companies and international subsidiaries.

Katharine Regan, Vice-President of Corporate Development, Corporate Secretary & Director

25 years' experience in business administration with public and private companies.

Steve Kenwood, P.Geo., Independent Director & Qualified Person

25 years' experience in mineral exploration and development for public companies.

Curtis Turner, Independent Director

15 years' experience in mining finance and operations including public reporting.

James Taylor, Independent Director

35 years' experience in financing natural resources and venture companies.

News Update

On January 24, 2025, Sonoro Gold Corp, announced the grant option plan. Under its share option plan, Sonoro Gold Corp. has granted options to certain directors, officers and consultants of the company to purchase an aggregate of 15.3 million common shares exercisable for a period of three years from the date of grant at a price of 15 cents per share. This grant is subject to acceptance for filing by the TSX Venture Exchange.

On December 23, 2024, Sonoro Gold Corp. completed the private placement

Financing type: non-brokered private placement

Gross proceeds: $500,000.04

Offering: 5,555,556 listed shares with 5,555,556 warrants attached

Offering price: nine cents per listed share

December 19, 2024, Sonoro Gold Closes C$500,000 Private Placement

https://sonorogold.com/news/sonoro-gold-closes-c500000-private-placement

November 26, 2024, Sonoro Gold Announces $500,000 Private Placement

https://sonorogold.com/news/sonoro-gold-announces-500000-private-placement

November 18, 2024, Sonoro Gold Completes Concession Payment and Provides Corporate Update

https://sonorogold.com/news/sonoro-gold-completes-concession-payment-and-provides-corporate-update

September 26, 2024, Sonoro Gold Corp. has closed an oversubscribed non-brokered private placement of 17.5 million units at a price of five cents per unit for gross proceeds of $875,000.

https://sonorogold.com/news/sonoro-gold-closes-over-subscribed-private-placement

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