Soma Gold Corp. · TSXV:SOMA
Soma Gold — Investor Presentation (August 2024)
27 slides from Soma Gold's investor presentation, Aug 28, 2024
Slide 1: Growing Gold Producer in Colombia
Growing Gold Producer in Colombia Corporate Presentation August 28, 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: H1 2024 Financial Highlights
H1 2024 Financial Highlights T S X V : S O M A / / O TC Q B : S M A G F H1 2024 Sales Volume H1 2024 Revenue 15,391 ounces AuEq $ 42.03 million H1 2024 EBITDA Adjusted H1 2024 EBITDA per share Adjusted $ 13.87 million $0.15 H1 2024 Net Income Adjusted H1 2024 Net Income per share Adjusted ($ 613.07
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 500-550 TPD by Q4
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’s properties are located in a prolific jurisdiction with multiple unexplored targets ➢ Soma’s property is on-trend with the 5.5- million-ounce Segovia Mine and the 6.0- million-ounce Gramalote deposit ➢ Antioq
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 Soma Concessions in Antioquia Mineral rights concessions of approximately 41,000 Ha (410 sq. km) extend over more than 100 km along the prolific OTU fault. These concessions are adjacent to and on-trend
Slide 7: Cordero Mine
Cordero Mine T S X V : S O M A / / O TC Q B : S M A G F ➢ Current Mill Production of approximately 450 TPD, ramping up to 500-550 TPD by Q4 2024 ➢ Average life-of-mine diluted head grade of 7.4 gpt ➢ Utilizing a combination of “Raised Stope” and “Cut and Fill” mining methods depending on width and o
Slide 8: Cordero Mine
Cordero Mine T S X V : S O M A / / O TC Q B : S M A G F ➢ The structure of the Cordero mineralization is typical of deposits along the OTU Fault ➢ Current Mineral Resources of 260,000 oz. Au ➢ Resource expansion program underway Open Open on on ➢ Near-term targeted growth to strike strike >500,000 o
Slide 9: Cordero Mine
Cordero Mine T S X V : S O M A / / O TC Q B : S M A G F August 28, 2024 www.somagoldcorp.com 9
Slide 10: New Interpretation of Upper Cordero
New Interpretation of Upper Cordero T S X V : S O M A / / O TC Q B : S M A G F S View to W N ➢ New interpretation of the “en-echelon” vein CORDDH 24_007 CORDDH 24_005 structure CORDDH 24_003 1.5m@ 13.13 Au 2.1m@ 9.25 Au g/t; 2.7m@ 11.52 Au g/t; 56.99 g/t Ag 19.21 g/t Ag g/t; 15.74 g/t Ag ➢ New struc
Slide 11: New Cordero Modelling
New Cordero Modelling T S X V : S O M A / / O TC Q B : S M A G F ➢ A cross-section through Cordero South “en echelon” veins ➢ The cross-section highlights that the veins are “en echelon’ both along strike and down dip ➢ Updated modelling protocols ➢ Vein orientation constraints ➢ Each drill intercep
Slide 12: 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 August 28, 2024
Slide 13: 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 Batholith host rock as the 25 km Segovia Mine (5.5M oz Au) ➢ 2019 NI 43-1010 Resource Estimate of El Bagre Gold Complex 128,000 Ounces with an expectation th
Slide 14: 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, with the ore to be milled at El Bagre and El Limon mills ➢
Slide 15: 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 with grades exceeding 25 gpt ➢ New drill program has commenced with wide-vein intercepts ➢ Fully-permitted min
Slide 16: 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 2
Slide 17: 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 Government of Colombia ➢ Located 15 km south of el Bagre in town of Zaragoza ➢ Close to the Machuca Mine ➢ Scheduled to restart in Q4 2024 Aug
Slide 18: Potential Second Vein at el Limon
Potential Second Vein at el Limon T S X V : S O M A / / O TC Q B : S M A G F Plan View geomodel Section view A Second 1.5 m @ A B vein to 22.9 gpt mine 1.4 m @20.0 gpt August 28, 2024 www.somagoldcorp.com 18
Slide 19: 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 32,500 40,000 44,000 45000 40000 35000 30000 32,000 25000 Ounces 32,000 El Bagre 20000 El Limon 32,500 32,340 15000 17,170 23,800 20,484 10000 16,168 12,000 5000 8,
Slide 20: Multiple Additional Exploration Targets
Multiple Additional 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 identified through surface sampling and artisanal mining ➢ Geophysical and LIDAR surveys planned for H2 ➢ 10-person geological team ➢ 4 com
Slide 21: Financial performance for Q2 2024
Financial performance for Q2 2024 T S X V : S O M A / / O TC Q B : S M A G F Highlights of the Q2 performance ➢ Soma produced 6,590 AuEq ounces in Q2-2024 – a 25.9% decrease from the 8,897 AuEq ounces produced in Q2-2023. ➢ Revenue for the quarter remained unchanged from the same period in 2023 at $
Slide 22: 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 1. Increase resource at 1. Restart the Limon Mill to 1. Increase gold production Cordero through increase total milling to 40-45,000 ounces Au in exploration to >50
Slide 23: 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 24: 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 August 28, 2024 www.somagoldcorp.com 24
Slide 25: 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 26: Summary
Summary T S X V : S O M A / / O TC Q B : S M A G F Trading at 1.38 X Forecasted 2024 EBITDA to Market Cap Producing and Profitable mine Large District Scale, Highly Prospective Land Holdings in Prolific A ntioquia State, Colombia Projected YE 2024 AISC of $1,450 USD per ounce running at 60% of capac
Slide 27: Contact
CONTACT 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 1500, 409 Granville Street Vancouver, BC, Canada V6C 1T2 August 28, 2024 www.somagoldcorp.com 27