Sonoro Gold Corp. announced an updated Mineral Resource Estimate (MRE) for the Cerro Caliche gold project in Sonora, Mexico. The MRE has been prepared by SRK Consulting (U.S.) Inc. (SRK) in accordance with the requirements of National Instrument 43-101 and is based on a total 59,500 meters of drilled data including 544 drill holes, 17 trenches and assays for 57,500 meters of the drilled data.

Mineral Resource Estimate Highlights: Indicated Mineral Resources (cut-off of 0.20 g/t AuEq) of 19.9 million tonnes (“Mt”) at 0.44 g/t Au and 3.5 g/t Ag grade; Contains within an optimized pit shell: 280,000 ounces of gold (“Au”); 2,240,000 ounces of silver (“Ag”); 290,000 ounces of gold equivalent1 (“AuEq”). Inferred Mineral Resources (cut-off of 0.20 g/t AuEq) of 10.5 Mt at 0.42 g/t Au and 4.0 g/t Ag grade; Contains within an optimized pit shell: 140,000 ounces of Au; 1,345,000 ounces of Ag; 150,000 ounces of AuEq; 65% of the combined resource tonnage is within the Indicated category; Amenable to a combination of open pit mining and heap leach extraction; An updated Preliminary Economic Assessment (“PEA”) based on the updated MRE is expected by the end of second quarter 2023. Mineral Resource Estimate: Mineral resources are estimated using a three-dimensional block model with a nominal block size of 5x5x6 meters (LxWxH).

Drill holes, collared from surface, penetrate the steeply dipping mineralized zones to depths of generally within 125 meters below surface but several holes have intersected gold mineralization to depths approaching 200 meters below surface. The resource estimate is generated using drill hole sample assay results and the interpretation of a geological model which relates to the spatial distribution of gold and silver. Interpolation characteristics are defined based on the geology, drill hole spacing, and geostatistical analysis of the data.

The effects of outlying high-grade sample data, composited to 6.0-meter intervals, are controlled by traditional capping of the composites. Block grades are estimated using ordinary kriging and have been validated using a combination of visual and statistical methods. Mineral resources that exhibit good continuity of mineralization along with a consistent pattern of drill holes on a maximum nominal spacing between 45 and 55 meters, are included in the Indicated category.

Mineral resources in the Inferred category are based on a nominal spacing of 110 meters.