Soma Gold to drill Psyche 2 target at Machuca project, Colombia

Soma Gold Corp. [TSXV: SOMA; WKN: A2P4DU; OTC: SMAGF] reported that the Colombian government has issued drill permits for the copper anomaly in the Psyche 2 target area of the company’s Machuca project in Antioquia, Colombia. A large survey completed in 2025 identified a significant copper anomaly coincident with a prominent magnetic high at the Psyche 2 target area. A drill rig has been mobilized to the first drill pad at the northern end of the copper anomaly.

This anomaly is located near the Otu fault and is interpreted to be controlled by associated higher-order structures. The anomalous soil samples also coincide with a prominent magnetic high and a distinct radiometric low. The cause of the geophysical anomalies is currently unknown due to limited exposure along the length of the anomaly. Geological mapping is under way along the entire length of the anomaly to determine the nature of the underlying bedrock. However, fresh drill core will be critical to resolving the cause of the copper anomaly.

The depth extent of the magnetic anomaly underlying the copper anomaly has been constrained by a 3-D inversion completed by Convolutions Geoscience. The magnetic anomaly appears to be fault bounded along its eastern and western margins and extends to depth. Soil anomalies directly overlie the subcrop extent of the body that forms the magnetic anomaly. The phase 1 drill program is designed to determine the source of the magnetic and radiometric anomalies in this area.

Phase 1 drilling will target a cluster of soil samples at the northern end of the copper anomaly. Samples in this area comprise some of the most anomalous values of the six index elements within the broader anomaly. Phase 1 will consist of four to five drill holes on the first drill pad for a total of approximately 2,000 metres of drilling.

Chris Buchanan, Soma’s vice-president of exploration, stated: “We are happy to be able to start drilling on the copper anomaly before the end of the year. The cause of the anomaly has been the centre of debate on the exploration team, and fresh drill core will help determine the style and tenor of mineralization and the type of host rock in the core of the magnetic anomaly. The results of phase 1 drilling will determine our approach to the remainder of the 4.5-km strike length of the copper anomaly.”

Soil sampling has also successfully identified numerous gold anomalies at the Psyche 2 target. The extent and tenor of the copper anomaly represent an exciting new exploration target in the region. Drilling will continue in 2026 at the high-grade gold targets near the Colossa mine and the Aurum-Orion-Eros area. Soil sampling on the Machuca project will focus on extending the Psyche 1 soil grid to the southeast. Airborne geophysics identified another area with coincident magnetic-high/radiometric-low anomalies southeast of the Psyche 1 grid that were not tested by the 2024 soil sampling program. Additionally, the company continues its ESG (environmental, social and governance) programs across the property packages and continues to consult with local communities regarding the continuing exploration activities.

The Otu fault system (Otu Fault) extends for over 100 km, from Segovia-Remedios in the south to Nechi in the north, where it is buried beneath younger sedimentary overlap sequences. Soma’s tenements now cover more than 56 km of this strike length. High-grade gold deposits have been identified along the entire length of the Otu fault, hosted in brittle-ductile to brittle quartz veins formed during later deformation stages. Throughout the district, quartz veins show orientation patterns consistent with formation in conjugate faults associated with brittle faulting along the Otu fault. Notable mines along this trend include Segovia-Remedios, La Aurora, El Limon, Le Ye, Los Mangos and Cordero. The Machuca property is located along a key segment of this regional fault system and shows numerous signs of high-grade gold mineralization.

Soma Gold owns two adjacent mining properties in Antioquia, Colombia, with a combined milling capacity of 675 tonnes per day (permitted for 1,400 tonnes per day). 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.