Successful Completion Of The New Cascabel PFS

Successful Completion Of The New Cascabel PFS

BISHOPSGATE, UK – SolGold announced the completion of a new Pre-Feasibility Study (PFS), prepared in accordance with National Instrument 43-101 (NI 43-101) that supports a Phased Block Cave Mine at its flagship Cascabel Project in Ecuador. Cascabel is through SolGold’s Ecuadorian subsidiary Exploraciones Novomining S.A. (ENSA).

Key Highlights of the Pre-Feasibility Study: 1) Excellent economic viability of a Cascabel Phased Approach Block Cave Mine. 2) +$1bn initial capital expenditure savings compared to previous estimates, reflecting efficient project development strategies, lower technical risk attributed to the phased strategy. 3) Potential for accelerated cash flow and project development. 4) The current Cascabel mine plan reflects the profitable exploitation of only 18% of the Alpala measured and indicated mineral resource through a 28-year mine life – the size of the entire resource indicates the mine’s potential to be a multi-generational mining asset. 5) Strong commitment to responsible and sustainable mining practices, including the use of renewable energy (hydropower) and an environmentally conscious Project footprint reduction.

Scott Caldwell, CEO and President, said, “Cascabel is not just a mining project; it’s a promise of responsible mining, lasting value for all stakeholders and a sustainable legacy for the planet. With reduced capital needs and lower risk compared to previous approaches, together with our ongoing commitment to sustainability and responsible mining, Cascabel is more than copper and gold; it’s a story of innovation, collaboration and a vision for a greener and more prosperous tomorrow for the people of Ecuador. This Study was conducted with the best outcomes for all our stakeholders in mind.”