Soma Gold closes $7.5 million life offering

Canada NewsWire VANCOUVER, BC , June 25, 2026 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the " Company " or " Soma ") is pleased to announce the successful closing of its previously announced non-brokered private placement (the " Offering ") under the Listed Issuer Financing Exemption (" LIFE Exemption ") pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions . Pursuant to the Offering, the Company issued 10,000,000 common shares (each, a " Share ") at a price of C$0.75 per Share, for aggregate gross proceeds of C$7,500,000. The proceeds from the Offering will support: (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.

"We are very pleased to have completed the LIFE Offering and are grateful for the continued support from both new and existing shareholders," said Geoff Hampson, CEO of Soma Gold Corp. "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." In connection with the Offering, the Company paid an aggregate of C$525,000 in cash commissions and issued an aggregate of 700,000 non-transferable broker warrants (the " Broker Warrants ") to certain arm's length finders. Each Broker Warrant entitles the holder to acquire one Share at an exercise price of C$1.10 per Share for a period of 24 months from the date of issuance.

An offering document related to the Offering is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.somagoldcorp.com . The Offering remains subject to the final approval of the TSXV Venture Exchange. The Shares issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. ABOUT SOMA GOLD Soma Gold Corp. (TSXV: SOMA) is a profitable gold mining company focused on production and exploration in Colombia. The Company holds over 430 square kilometres of mineral concessions along the prolific OTU fault in Antioquia and operates two fully permitted mills located within 25 kilometres of each other, with a combined milling capacity of 675 tpd and permitted expansion capacity of 1,400 tpd.