Increase of 47% over January 2022

Soma Gold Corp. (TSX-V: SOMA) (WKN: A2P4DU) (OTC: SMAGF) is pleased to announce that gold production in January 2023, at its 100% owned, El Bagre, Colombia, gold mine, set a new monthly record of 2,680 AuEq ounces. Production was 24% ahead of the January 2023 budget of 2,166 AuEq ounces and 47% ahead of the production for the same period last year. Full-year production for 2023 is planned to be 35,500 ounces.

Javier Cordova, President and CEO, states, “Our team in Colombia has done an outstanding job of ramping up production by leveraging our new mechanized fleet to achieve the new mine plan. Integrating the new mining method and adding an experienced mining engineer like Mark Bren, VP of Operations, will ensure that we meet or exceed our production goals in the coming years.”

ABOUT SOMA GOLD

Soma Gold Corp. is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.

The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.