Soma Gold Corp. · TSXV:SOMA
Soma Gold — Investor Presentation (May 2024)
35 slides from Soma Gold's investor presentation, May 1, 2024
Slide 1: Growing Gold Producer in Colombia – Corporate Presentation
Growing Gold Producer in Colombia Corporate Presentation May 1, 2024
Slide 2: Legal Disclaimer
Legal Disclaimer T S X V : S O M A / / O TC Q B : S M A G F Statement by Qualified Persons Some statements herein contain forward-looking information. These statements include, but are not limited to, statements with respect to the expected benefits from having a management team seeking to aggressiv
Slide 3: Financial Highlights
Financial Highlights T S X V : S O M A / / O TC Q B : S M A G F 2023 Sales Volume 2023 Revenue 32,340 ounces AuEq $ 81.1 million 2023 EBITDA Adjusted 2023 EBITDA per share Adjusted $ 31.8 million $0.35 2023 Net Income Adjusted 2023 Net Income per share Adjusted $ 11.5 million $0.13 Source: TMX.com (
Slide 4: Executive Summary
T S X V : S O M A / / O TC Q B : S M A G F Executive Summary ➢ Gold producer with District Scale property concessions in Antioquia Producing and growing miner with large scale Province, Colombia district scale property concessions ➢ Current Production Rate of 450 TPD, ramping up to 650 TPD by Q4 202
Slide 5: Colombia – Excellent Mining Jurisdiction
T S X V : S O M A / / O TC Q B : S M A G F Colombia – Excellent Mining Jurisdiction ➢ Soma properties are in a prolific jurisdiction with multiple unexplored targets ➢ Large deposits common in Colombia and Soma property is on trend with the 5.5- million-ounce Segovia Mine and the 6.0- million-ounce
Slide 6: District Scale Property in Colombia
District Scale Property in Colombia T S X V : S O M A / / O TC Q B : S M A G F Aris Segovia Mine Mineral rights concessions of approximately 41,000 Ha (410 sq. km) stretching more Soma Concessions in Antioquia than 100 km along the prolific OTU fault and adjacent to and on trend to the Segovia Mine
Slide 7: Cordero Mine
Cordero Mine T S X V : S O M A / / O TC Q B : S M A G F ➢ Current Mine Production of ~450 TPD, ramping up to 550 TPD by Q4 2024 ➢ Average diluted head grade of 8.4 gpt ➢ Combination of “Raised Stope” and “Cut and Fill” mining methods depending on width and orientation of veins ➢ Targeting 100,000 ou
Slide 8: Cordero Mine
Cordero Mine T S X V : S O M A / / O TC Q B : S M A G F ➢ Typical of deposits on OTU Fault ➢ Current Mineral Resources of 260,000 oz. Au ➢ Resource expansion program underway ➢ Near term targeted growth to Open Open >500,000 oz Au on on strike strike ➢ Average diluted grade of 8.4 g/t Au Open at dep
Slide 9: Cordero Mine
Cordero Mine T S X V : S O M A / / O TC Q B : S M A G F May 1, 2024 www.somagoldcorp.com 9
Slide 10: Nechi Deposit
Nechi Deposit T S X V : S O M A / / O TC Q B : S M A G F Nechi Deposit ➢ Located 25 km North of the El Bagre Gold Complex ➢ Hosted in the same 25 km Batholith than the Segovia Mine (5.5M oz Au) ➢ 2019 NI 43-1010 El Bagre Gold Complex Resource Estimate of 128,000 Oz, which is expected to grow to over
Slide 11: Nechi Deposit
Nechi Deposit T S X V : S O M A / / O TC Q B : S M A G F Mine plan submitted for permit ➢ 42,000 m of DDH drilling already completed ➢ 2,300 m of decline and underground development a l rea dy built ➢ 200-250 TPD Production Planned For 2026, to be milled at El Bagre and El Limon ➢ Awaiting PTO permi
Slide 12: Machuca Deposit
Machuca Deposit T S X V : S O M A / / O TC Q B : S M A G F ➢ Located 10 km south of the el Limon Mill ➢ Paved road to el Limon and el Bagre mills ➢ High-grade intercepts and channel samples > 25 gpt ➢ New drill program has commenced with wide vein intercepts ➢ Fully permitted mine that requires limi
Slide 13: El Bagre Mill Complex
El Bagre Mill Complex T S X V : S O M A / / O TC Q B : S M A G F ➢ 450 TPD Capacity ➢ Grinding, gravity, floatation, cyanide leach, Merrill Crowe and smelting to doré ➢ Fully permitted to expand to 1,000 TPD ➢ Powered by renewable hydropower generated on- site ➢ Backup generators being installed in
Slide 14: El Limon Mill
El Limon Mill T S X V : S O M A / / O TC Q B : S M A G F ➢ 225 TPD capacity currently on Care and Maintenance ➢ Fully permitted to 400 TPD ➢ RPP License from Gov’t of Colombia ➢ 15 km south of el Bagre in town of Zaragoza ➢ Close to the Machuca Mine ➢ Scheduled to re-start in Q4 2024 May 1, 2024 www
Slide 15: Production growth and forecast
Production growth and forecast T S X V : S O M A / / O TC Q B : S M A G F Production Totals (oz Au): 16,168 17,170 20,484 23,800 32,340 36,000 44,000 44,000 45000 40000 35000 30000 32,000 32,000 25000 Ounces El Bagre 32,000 El Limon 20000 32,340 15000 17,170 23,800 20,484 10000 16,168 12,000 12,000
Slide 16: Resource Expansion and definition drilling at Cordero
Resource Expansion and definition drilling at Cordero T S X V : S O M A / / O TC Q B : S M A G F ➢ Drilling indicates vein system is open at depth and on strike ➢ Good intercepts with good grade but highly displaced by faults and dikes ➢ Updated NI43-101 Resource Estimate in Q1 2025 May 1, 2024 www.
Slide 17: Multiple Exploration Targets
Multiple Exploration Targets T S X V : S O M A / / O TC Q B : S M A G F ➢ $4 million per year program ➢ 20K meters of DDH per year ➢ Multiple targets defined by surface sampling and artisanal mining ➢ Geophysical and LIDAR surveys planned for H2 ➢ 10-person geological team ➢ 4 company-owned DDH rigs
Slide 18: Financial performance for 2023
Financial performance for 2023 T S X V : S O M A / / O TC Q B : S M A G F Highlights of the YTD performance ➢ Revenue for the year rose by 53% to $81.1 million. ➢ Total AuEq production of 32,340 ounces. ➢ Income from mining operations reached $28.0 million. ➢ Total Comprehensive income stood at $11.
Slide 19: Value Creation Goals 2024-2027
Value Creation Goals 2024-2027 T S X V : S O M A / / O TC Q B : S M A G F Increase Resource Expand Milling Capacity Increase production • Increase resource at • Restart the Limon Mill to • Increase gold production Cordero through increase total milling to 40-45,000 ounces Au in exploration to >500,0
Slide 20: Environmental, Social and Governance
Environmental, Social and Governance T S X V : S O M A / / O TC Q B : S M A G F Environmental ➢ Formalizing small miners eliminates the use of mercury ➢ Sustainable and renewable source of power from on-site hydro plant. ➢ Soma plants 5,000+ trees per year with the support of the local community ➢ A
Slide 21: Worker Health and Safety
Worker Health and Safety T S X V : S O M A / / O TC Q B : S M A G F ➢ Management and the Board take worker safety very seriously ➢ Implemented North American safety standards ➢ The focus on safety and training has dramatically reduced incidents May 1, 2024 www.somagoldcorp.com 21
Slide 22: Colombia Country Risk
Colombia Country Risk T S X V : S O M A / / O TC Q B : S M A G F ➢ President Petro’s Leftist agenda stalled by Centrist Legislature ➢ No change to the 5% foreign dividend withholding tax ➢ Soma exceeds compliance for environmental and social issues (won an award) ➢ Underground mining is not a target
Slide 23: Summary
Summary T S X V : S O M A / / O TC Q B : S M A G F Trading at 1.64 X Run Rate EBITDA to Market Cap Producing and Profitable mine Large District Scale, Highly Prospective Land Holdings in Prolific A ntioquia State, Colombia Projected 2024 AISC of $1,350 USD per ounce running at 60% of capacity. At fu
Slide 24: Contact
CONTACT Geoff Hampson CEO Jean-Francois Meilleur VP Capital Markets +1 514-951-2730 jean-francois@somagoldcorp.com TSXV:SOMA // OTCQX:SMAGF IN F O @ S O M A G O L D C O R P . C O M +1-604-259-0302 SUITE 970, 1050 WEST PENDER ST. VANCOUVER, BC V6E 3S7, CANADA May 1, 2024 www.somagoldcorp.com 24
Slide 25: Discovering the next Segovia Mine – The Geological Thesis
T S X V : S O M A / / O TC Q B : S M A G F Discovering the next Segovia Mine The Geological Thesis May 1, 2024 www.somagoldcorp.com 25
Slide 26: Location
LOCATION T S X V : S O M A / / O TC Q B : S M A G F Road Access Medellín-Caucasia-El Bagre (365Km) Air Access Commercial flight EOH-El Bagre (45min) May 1, 2024 26
Slide 27: Summary of the 2023 exploration
T S X V : S O M A / / O TC Q B : S M A G F Summary of the 2023 exploration Regional Mineralisation Model from Aris Mining, Segovia, Colombia • Quartz veins in the Segovia-Remedios area of Colombia are hosted in the Segovia Batholith (granodiorite to diorite) • Prolific gold producer since the 1800’s
Slide 28: Regional Geology
T S X V : S O M A / / O TC Q B : S M A G F Regional Geology • Northerly trending belts of high-grade gneiss • Ortho- and paragneiss belts (purple) • Segovia Batholith (blue) intrudes the gneiss terrane • Granodiorite, syenogranite, and tonalite • Upper Jurassic age • Hosts Gran Aris’ Segovia Project
Slide 29: Regional Geology Continued
T S X V : S O M A / / O TC Q B : S M A G F Regional Geology Continued ➢ Structural architecture of the El Bagre-Zaragoza region ❖ Complex array of north-trending deep rooted fault zones ❖ Geology is dissected by northwest-southeast-trending faults ❑ Offset margins of the Segovia Batholith ❑ Apparent
Slide 30: Gold Exploration Targets on the OTU Fault
Gold Exploration Targets on the OTU Fault T S X V : S O M A / / O TC Q B : S M A G F Channel: Au El Limon (g/t) Diamentina Primavera Porquera/ Float: Au (g/t) ➢ Mapping and prospecting was completed along La Amada drainages within the Zara Project • Covered El Limon south to Canon de Roja ➢ The obje
Slide 31: Machuca Aurora Mine Project
Machuca Aurora Mine Project T S X V : S O M A / / O TC Q B : S M A G F ➢ Structural Geology Aspects of the La Aurora veins ▪ Quartz veins exhibit clear step-over between vein segments • The veins are hosted in a sinistral shear zone and step to the left • This implies the step-over is a zone of exte
Slide 32: Machuca Aurora Mine Project
T S X V : S O M A / / O TC Q B : S M A G F Machuca Aurora Mine Project Mapping was carried out underground in historical workings and 15 samples were taken May 1, 2024 32
Slide 33: Pyche Two Prospect
T S X V : S O M A / / O TC Q B : S M A G F Pyche Two Prospect 63.1 gpt Au MP3421_S2675 milky and translucent quartz vein with Filling fractures mineralization subhedral pyrite 5% filling fractures with thickness 0.2 m and trend 75/062 dip/dir. Host rock quartz feldspathic gneiss with foliation 60/11
Slide 34: Cordero Deposit vein geometry and grade distribution
T S X V : S O M A / / O TC Q B : S M A G F Cordero Deposit vein geometry and grade distribution ➢ Thick, planar fault fill quartz veins ➢ Progressively deformed tension vein arrays ➢ Commonly reactivated along the footwall and ➢ Structural thickening of thinner veins hanging wall contacts ➢ Fold hin
Slide 35: 2023 Drill Intercepts Highlights
T S X V : S O M A / / O TC Q B : S M A G F 2023 Drill Intercepts Highlights Canon de Rojas CRDDH-23-005: 3.73 g/t Au over 0.6m Cordero Mine – Cordero Vein – NV3.5 Cordero Mine – Victoria Ramp RFXDDH-23-004: 5.35 g/t Au over 1.5m BASDDH-23-005: 35.19 g/t Au over 2.75m (incl. 94.4 g/t over 0.4m) May 1