SolGold provided an update on the Blanca-Nieves Project . SolGold holds a 100% interest in the Project through its Ecuadorian subsidiary, Carnegie Ridge Resources S.A. The Blanca-Nieves Project is situated approximately 8 km north of the Company's Tier 1 Cascabel Project in northern Ecuador, which holds 3.7 Bt of ore, 12.4 Mt of copper and 31.3 Moz of gold in the measured plus indicated category, and 854 Mt of ore, 2.0 Mt of copper and 5.3 Moz of gold in the inferred category. The Cascabel Project is the largest undeveloped copper-gold resource in South America and one of the largest in the world; with its recently published pre-feasibility study indicating an initial capex of $1.55B and the initial block cave yielding a peak annual production of 216 kt of copper, 734 koz of gold and 1.16 Moz of silver.

The Project is situated in the Northern Andean Copper-Gold Belt, a region that promises to deliver a significant proportion of the copper and gold necessary to meet the growing global demand over the coming decades. High-grade "bonanza-style" gold and silver mineralisation with visible gold has been discovered outcropping at numerous locations within the Blanca-Nieves Project area. This includes the previously reported presence of epithermal quartz veins with over 100 g/t gold grades at Cielito and Florida.

The ongoing exploration efforts at the Blanca-Nieves epithermal gold-silver vein field continue to demonstrate significant potential for complex high-grade epithermal vein systems, and recent work has also identified the potential for a parent mineralised porphyry body beneath the outcropping gold system. SolGold is advancing new target areas towards drill-ready status as exploration continues with both epithermal vein and porphyry gold-copper as objectives. SolGold intends ultimately to extend the definition of the gold-bearing epithermal veins at Cielito and Quiroz beyond the range of previous historical artisanal mining and drilling to date and to extend the size of the discovery at Florida, further demonstrating the Company's commitment to realising the full potential of the Blanca-Nieves Project with a view to integration with Cascabel.

Recent and historic exploration at the Blanca-Nieves Project, immediately north of the Company's Cascabel Project, has identified a widespread epithermal gold and silver precious metal field which covers more than 80 square kilometres. New assays of channel samples from gold-bearing epithermal quartz vein outcrops, with up to 6.15m true thickness, returned 6.15m @ 7.46 g/t Au at Florida, including2.2m @ 21.1g/t Au. A significant thickening of quartz veins is observed along with an increase in clay alteration at Florida, and more recent fieldwork has identified a significant porphyry target at El Cielito Norte, immediately west of Florida.

El Cielito Norte lies central to peripheral high-grade gold-silver and base metal vein occurrences at Cielito, Florida, Quiroz and Las Chorreras. The El Cielito Norte porphyry target is characterised by a central magnetic high anomaly, surrounded by an annular magnetic low, typical of the inner potassic and outer hydrothermal alteration zones observed in many large porphyry deposits around the globe. High-grade quartz-gold-silver epithermal vein systems at Cielito, Florida, Quiroz, and Las Chorreras occur peripheral to the El Cielito Norte porphyry target defined by a central diorite porphyry intrusion coincident with a kilometre scale RTP magnetic high with annular magnetic low.

Zones of argillic clay alteration lie coincident with the magnetic low. Additional porphyry-style magnetic signatures are evident, overlapping on the northern edge of the main anomaly. The porphyry target alteration footprint at El Cielito Norte covers approximately 2.5 x 2.5 km and is greater in extent than the Alpala system to the south.

Ongoing surface rock chip float and channel and soil sampling programs are in preparation to map extensions of this exciting discovery and outline drill targets.