Company Announcements

VANCOUVER, BC , May 29, 2026 /CNW/ -Soma Gold Corp.(TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the "Company" or "Soma") is pleased to announce that a drill rig has been mobilized to the Escondida Project in Antioquia, Colombia (Figure 1). La Escondida Mine is a small-scale mine that has been producing mineralized material since 2013. Soma acquired the mine and its associated title in July 2025 (see news release dated July 7, 2025). This is the maiden drill program on the Escondida Vein and will determine the extent and tenor of gold mineralization beyond the current footprint of the mine.

The Phase 1 drill program comprises 21 drill holes for a total of 2,790 m of drilling. The initial drill holes will test the continuity of the mineralized zone near the known mine workings with 50 m step-outs along strike and down-dip. Subsequent drill holes will test the extent of the vein along strike up to 500 m northeast of the mine workings. The deepest drill holes will test the extent of the Escondida Vein 250 m below the deepest mine level, approximately 425 m down-dip from the surface exposure of the vein.

If Phase 1 drilling confirms the continuity of the Escondida Vein, its associated clay alteration, and gold mineralization, a Phase 2 drill program will be initiated for an additional 3,165 m. This next phase will focus on 50 m-spaced infill drill holes below the current mine workings, with the intention of developing a spatially constrained NI 43-101 mineral resource estimate and an updated PTO to continue small-scale, conventional mining at the Escondida Mine. Production from the mine will feed the El Bagre or El Limón mill complexes while exploration drilling continues to evaluate the full potential of the Escondida Vein.

Chris Buchanan, Soma's VP Exploration, states, "Initiating the maiden drill program at Escondida is a significant milestone for our 2026 exploration program. The vein geometry, grade of known gold mineralization, and scale of the existing mine workings are all encouraging indicators of a robust vein and alteration system. We are eager to define the full extent of the Escondida Vein and look forward to testing the five additional veins on the property that to date have only ever been worked at surface."

The La Escondida Vein has been traced for 800 m along strike to the northeast and approximately 135 m down-dip, dipping steeply at 70^o to 80^o to the northwest. The operator mined 200 m of strike length to a vertical depth of 105 m, developing the mine on 5 m levels, most of which have been backfilled. The mine currently produces 10-20 tons per day at a diluted grade of approximately 9.0 g/t Au, which represents the full capacity of the on-site mill. The vein is 15-50 cm thick and is accompanied by a 1.0-3.0 m wide clay alteration package that is also variably mineralized. The vein style, alteration, and sulphide mineralization are consistent with an intermediate sulphidation epithermal system, hosted in competent intermediate to felsic to intermediate intrusive rock.

The vein geometry, known strike length, and gold tenor of current production suggest that the Escondida Vein has the potential to host a significant quantity of gold. The combined phase 1 and 2 drill programs planned for 2026 are expected to rapidly define the strike and down-dip extent of the vein and establish a NI 43-101 compliant mineral resource beyond the current mine footprint. Escondida Vein is one of at least six veins identified on the property through illegal surface workings and prospecting.

La Escondida Mine is a formally permitted small-scale operation, holding a PTO, environmental permit, and explosives permit. The mine is developed on the main Escondida Vein via two internal winzes and has a small on-site mill. The property is accessible via a gravel road from Zaragosa or Cáceres, Colombia, is suitable for truck traffic, and is approximately 1.5 hours from the El Limón Mill in Zaragosa.

In addition to the Escondida drill program described above, the Company continues to actively explore across its Colombian tenement package. At the Cordero Deposit, two surface drill rigs are testing exploration targets down-dip of the Cordero, Atenas, and Cordero Viejo zones, while two underground drill rigs in the Cordero Mine are focused on infill drilling to support mine planning and operations. Regional exploration teams are also conducting surface geochemistry sampling programs at the El Bagre and Machuca projects.

Qualified Person Statement

Mr. Chris Buchanan, P.Geo, is Soma's Vice-President of Exploration and a Qualified Person as defined by National Instrument 43-101. Mr. Buchanan has reviewed and approved the technical information disclosed in this press 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.

With a solid commitment to sustainability and community engagement, Soma Gold Corp. is dedicated to achieving excellence in all aspects of its operations.

The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.

On behalf of the Board of Directors

"Geoff Hampson"
Chief Executive Officer and Chairman

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.