SolGold plc provided an update on its exploration activities at the Espejo Project (Project), part of the SolGold-ENAMI strategic exploration alliance (SEA) in Northern Ecuador. The Espejo Project, situated approximately 20km northeast of the Company's Cascabel Project, has identified a promising porphyry Cu-Au-Mo target. The Espejo Project, positioned within theNorthern Andean Copper-Gold Belt, is locatbedalongthe Toachi Fault.

This fault is a deep-seated, arc-parallel tectonic structure bisecting the length of the Northern Ecuador Cordillera Occidental ("NECO") trend. The Project is in close proximity to the Company's Alpala and Tandayama-America porphyry copper-gold deposits. This region is renowned for hosting various major exploration projects and notable porphyry deposits such as SolGold's Cascabel (2.66Bt @ 0.37% Cu, 0.25 g/t Au) and Llurimagua (1.55Bt @ 0.51% Cu, 10 ppm Mo).

SolGold's geological team, supported by expert advisors, believes the under-explored Toachi Fault zone in the NECO trend is a highly prospective area for the discovery of significant Cu, Cu-Au, and Cu-Mo porphyry deposits, alongside high-grade epithermal Ag and Au-Ag deposits. Recent exploration at Anomaly 4 has revealed a 2km x 1.5km area with porphyry intrusive rocks exhibiting Cu, Mo, and Cu/Zn soil geochemical anomalies (Figures 2-5). These findings include zones of outcropping B-type quartz veining within intrusive diorite and granodiorite rocks associated with biotite(± magnetite)potassic alteration overprinted bychlorite-sericiteintermediate argillic alteration.

Anomaly 4 also shows classic porphyry geochemical zonation, alteration, and mineralisation patterns, along with evidence of related epithermal and skarn Au-Ag systems. Rock sampling has yielded encouraging results, including significant Au, Ag, and Cu grades in various mineralized forms. Rock sampling (Figure 6-9) assays yielded the following results, including significant grades of Au, Ag, and Cu in various mineralised forms: multi-mineralic Au-Ag-Cu skarn: 4.15 g/t Au, 77.8 g/t Ag, and 2.63% Cu; multi-mineralic Au-Ag skarn: 34.5 g/t Au and 38.7 g/t Ag; magnetite-pyrite Au skarn: 10.80 g/t Au; and epithermal quartz veins: 36.8 g/t Au. The four anomalies at Espejo have been delineated through geological mapping of rock types, alteration, and sulphide minerals and by multi-element soil geochemistry with rock geochemistry. The mineralisation discovered at Espejo suggests that anomalies 1-4 represent a cluster of porphyry systems warranting drill testing.

The presence of porphyry-related epithermal and skarn mineralization suggests a potential source of intrusion or intrusions in the area.