Soma Files Ni 43-101 Technical Report On Its El Bagre And Nechí Projects In Colombia

VANCOUVER, Feb. 16, 2023 - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the "Company" or "Soma") is pleased to announce that it has filed a technical report titled "Technical Report on the El Bagre Gold Mining Complex and Nechí Project, Department of Antioquia Colombia, Report for NI 43-101" (the "Technical Report"). The Technical Report is available on the Company's website at www.somagoldcorp.com and on Soma's issuer profile on SEDAR at www.sedar.com.

The independent Technical Report was prepared by SLR Consulting (Canada) Ltd. and has an effective date of December 31, 2022. This filing follows the Company's News Release dated January 5, 2023 (titled: Soma Announces a Positive Preliminary Economic Assessment and Updated Mineral Resource) which outlined key results from the Technical Report.

Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.

The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.

On behalf of the Board of Directors

"Javier Cordova Unda"
Chief Executive Officer and President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.

SOURCE Soma Gold Corp.