Soma Gold raises $7.5 million non-brokered LIFE placement

Canada NewsWire /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ VANCOUVER, BC , June 9, 2026 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the " Company " or " Soma ") is pleased to announce a non-brokered private placement offering of up to 10,000,000 common shares of the Company (each, a " Share ") at a price of C$0.75 per Share for aggregate gross proceeds of up to C$7,500,000 (the " Offering "). Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Offering is being conducted pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the " Listed Issuer Financing Exemption "). The Offering will be made available to purchasers resident in all provinces of Canada, except Québec, and in such other jurisdictions outside of Canada where the Offering may be lawfully made in compliance with applicable securities laws.

The Company will file a Form 45-106F19 offering document (the " Offering Document ") related to the Offering, which will be accessible under the Company's profile on SEDAR+ at www.sedarplus.ca once filed and on the Company's website at www.somagoldcorp.com . Prospective investors should read the Offering Document in its entirety before making an investment decision. The net proceeds of the Offering are intended to be used to fund: (i) capital expenditures to expand production at the Escondida and Aurora mines; (ii) completion of ore sorting equipment installation; (iii) accelerated exploration activities at the Escondida property; (iv) working capital to pre-pay for ore purchases from small legal mines near the Company's mills; and (v) general corporate purposes.

A more detailed description of the intended use of proceeds will be set out in the Offering Document. Geoff Hampson, CEO of Soma Gold Corp, states, "This financing positions Soma to accelerate production growth at both the Escondida and Aurora mines while completing our ore sorting infrastructure, two milestones that we expect will have a meaningful impact on our output and margins. We are also pleased to be supporting the formalization of small-scale legal mining operations in our region through ore purchase agreements, which aligns with our long-standing commitment to community and responsible development.

We look forward to closing this financing promptly and putting the capital to work." The Offering is scheduled to close on or about June 19, 2026 (the " Closing Date "), or such other date as the Company may determine. Completion of the Offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the conditional approval of the TSX Venture Exchange (the " Exchange "). In connection with the Offering, the Company has engaged Integrity Capital Group Inc. to act as its financial advisor and support its efforts.