Sonoro Gold Corp. announced the positive results of an independent Preliminary Economic Assessment ("PEA") on the Company's Cerro Caliche gold project located in Sonora State, Mexico. The PEA demonstrates the potential viability for a nine-year life of mine ("LOM"), open pit, heap leach mining operation with an initial two-year production rate of 4,000 metric tonnes per day ("mtpd") and an increase to 12,000 mtpd for the remaining LOM.

The PEA has been prepared in accordance with the requirements of National Instrument 43-101 ("NI 43- 101") by D.E.N.M. Engineering Ltd. of Burlington, Ontario ("D.E.N.M") and Micon International Limited of Toronto, Ontario ("Micon") with confirmation of the applicable resource estimates prepared by SRK Consulting (U.S.) Inc. of Denver, Colorado ("SRK"). The PEA utilizes the updated Mineral Resource Estimate (MRE) prepared by SRK and, as announced on February 7, 2023, the MRE highlights include: 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 oz of Au; 2,240,000 oz of Ag; 290,000 oz of 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 oz of Au; 1,345,000 oz of Ag; 150,000 oz of AuEq. The SRK report comments favorably on the upside potential of the project in terms of exploration.

The current geological volumes and grade estimates, located outside of the pit shells, are considered too limited to establish grade continuity to meet the present requirements for Reasonable Prospects of Eventual Economic Extraction (RPEEE) for the mineralized area to be considered Mineral Resources. SRK has defined the ranges for the potential exploration targets outside of the current pits shell which are within the current modelled mineralized zones. Based on the analysis, SRK considers the exploration potential (cut-off of 0.20 AuEq) within drilled areas for Cerro Caliche to be from 15,000,000 to 22,000,000 tonnes containing: 120,000 to 275,000 oz of Au at 0.25 to 0.38 g/t Au; 1,045,000 to 2,350,000 oz of Ag at 2.2 to 3.2 g/t Ag; 125,000 to 285,000 oz of AuEq at 0.26 to 0.39 g/t AuEq.

The reader is cautioned that the potential quantity and grade ranges noted above are conceptual in nature and insufficient exploration has been conducted to define this material as a Mineral Resource. It is uncertain if further exploration will result in these exploration target estimates being delineated as Mineral Resources or converted to Mineral Reserves in the future. SRK cautions that estimates of exploration targets are not a CIM-defined category, are not Mineral Resources and are too speculative to fulfill the definition of Mineral Resources.

There are additional opportunities along strike and parallel to the current vein trends and this potential may be quantified through additional drilling. In addition to drilling, surface mapping and sampling suggests that several mineralized trends have potential for additional resources along-strike. Further explo-ration drill programs are warranted.