SONORO GOLD PROVIDES SURFACE RIGHTS UPDATE FOR THE CERRO CALICHE GOLD PROJECT

About this update from Sonoro Gold Corp

[{"type":"text","content":"SONORO GOLD PROVIDES SURFACE RIGHTS UPDATE FOR THE CERRO CALICHE GOLD PROJECT\n\n\n\n VANCOUVER, Canada, Aug. 18, 2025 (GLOBE NEWSWIRE) --\n \n Sonoro Gold Corp.\n \n (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) announces that it has received the final acceptance from the TSX Venture Exchange for the surface rights lease agreement (the “Agreement”) for the Company’s Cerro Caliche Gold Project in Sonora, Mexico. As disclosed in the Company’s new release dated July 4, 2025, Sonoro now controls 100% of the surface and mineral rights for the Cerro Caliche project area and has exclusive access for the exploration, development and extraction of mineral deposits, as well as the construction of related mining infrastructure.\n \n\n The Company also announces that it has completed cash payments of US $3,125,000 to the lessor, satisfying the financial obligations in year 1 of the Agreement. The Company will issue 5.0 million Common Shares (the “Consideration Shares”) to the lessor at a deemed issue price of CAD $0.15 Common Share, as a portion of the consideration payable under the Agreement. The Consideration shares will be subject to a four-month resale restriction period as from their issuance date, as required by Canadian securities regulations.\n \n\n Funding for year-1 payment requirements under the Agreement was financed by unsecured shareholder loans aggregating to US $2,900,000 (the “Loans”) by Company directors, bearing annual interest of 10%, plus a 7% lending fee. The Loans, plus accrued interest and fee are repayable by the Company either on or before the completion of project financing or from production revenues generated by the proposed Cerro Caliche mining operation.\n \n\n The Loans constitute a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions under section 5.5(a) and section 5.7(f) from the formal valuation and minority shareholder approval, respectively, as its securities are listed on the TSX Venture Exchange and the Loans have been provided on reasonable commercial terms and are not convertible or repayable in securities of the Company....

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