Para Resources Provides a Corporate Update

About this update from Soma Gold Corp.

[{"type":"text","content":"Para Resources Provides a Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - August 22, 2019) - Para Resources Inc. (TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF) (the \"Company\" or \"Para\") is pleased to provide an update on operations as follows:Gold RoadGold Road has completed 245 feet of development raise and incline to complete excavation of the new secondary escape route from the lowest levels of the mine as per the Mine Safety Health Administration (MSHA) request. Work continues on lining and landings to finalize this project by the end of August.As advised in June 2019, the new surface fan and air doors were installed and commissioned in July, as anticipated. The work plan for the balance of Q3 2019 includes the completion of the development work accessing the 900-Level by advancing 1,650 ft. In July, the 3750 decline to access the 900-level advanced 520 feet, including passing the first sub-level. The vein at 3310 W is 4 ft in width and channel sampling has yielded an average grade of 0.50 ounces per ton (17 g/mt). The 3310E heading vein is also 4 ft in width with an average grade of 0.25 ounces per ton (8.6 g/mt). These preliminary results are better than modeled and are at a width that allows for a conventional shrink stope mining method. Additional miners are currently being hired to restart mining on the 100-level and rehabilitate the 800-level. These three production faces will be producing by September 2019. The 2019 Q4 plan anticipates the re-start of the mill, at full capacity of 500 TPD, by early November with a stockpile in place. Additional development work is also planned. Management is in discussions with the major shareholders and others to provide financing to bridge the working capital and capex requirements through the prolonged development timeline. Manpower at the mine will be ramped up as the development work has opened access to the additional headings. The exploration drilling program on the adjacent Tr-Ue vein began in June and was delayed by equipment failures. A new drilling contractor is on-site and the program is expected to be completed by the end of August. El LimonFor current year to date to July, El Limon has produced 1,187 ounces of gold in doré which is a 26% increase of 2018.The mine is currently focusing on four main development projects including three new mine mouths....

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