Mr. Geoff Hampson reports

SOMA REPORTS PROGRESS ACROSS THREE MINING ASSETS

Colombia's Agencia Nacional de Mineria (ANM) has approved an increase in production from 25 tonnes per day to 75 tonnes per day for Soma Gold Corp.'s Aurora mine. The new permiso de trabajo de obra (PTO) was granted on July 17, 2026, and is effective immediately. Production is expected to increase in the coming weeks to a range of 30 to 40 tonnes per day at an average expected grade of approximately 4.5 grams per tonne. Further increases beyond the authorized limit of 75 tonnes per day will be determined by optimizing the mining method.

The approval, along with the restart of production at the Escondida and El Limon mines, brings the company closer to achieving its production goals for the second half of 2026. The El Limon mine has now been dewatered to Level 5, and repairs to the secondary emergency exit have been completed. A contract miner has been engaged, and production at El Limon is expected to begin in August.

At Escondida, the access road and conditions around the portals continue to be improved to enhance logistic and support more sustainable production. Extension of the shaft to the next production level, Level 170, will be completed by the end of July, when new headings will be opened. Production is temporarily slower than anticipated due to poor ground conditions at the current face, which require additional support. This is a temporary condition as the team works through the fractured zone.

The nine-hole diamond drill program at Escondida continues, with the third hole under way. The vein structure was intersected at the expected target depth and is consistent with the structure currently mined 25 metres to the southeast. Assays for the completed drill holes have been submitted to Actlabs Medellin, with results pending.

Geoff Hampson, Soma's chief executive officer, stated: "We are very pleased to receive the approved PTO for Aurora, which allows us to increase production in line with our 2026 plan. We are encouraged by the progress made at Escondida in rehabilitating the two portals and shafts, positioning the mine for further growth. We remain on track to increase production at Escondida to 20 tonnes per day by the end of the third quarter, and to the permitted 40 tonnes per day by year-end. The mill feed from Aurora, Escondida and El Limon will add approximately 100 to 120 tonnes per day to the current production of 400 to 450 tonnes per day from the Cordero mine."

Qualified person statement

Chris Buchanan, PGeo, 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 Corp.

Soma Gold is a profitable gold mining company focused on production and exploration in Colombia. The company holds over 430 square kilometres of mineral concessions along the prolific Otu fault in Antioquia and operates two fully permitted mills located within 25 kilometres of each other, with a combined milling capacity of 675 tonnes per day and permitted expansion capacity of 1,400 tonnes per day. The El Bagre mill operates at 450 tonnes per day, and the El Limon mill resumed operations in Q3 2025. The company finances its regional exploration program through internally generated funds.

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

The company also owns an exploration property near Tucum, Para state, Brazil, that is currently under option to Ero Copper Corp.

We seek Safe Harbor.