SolGold PLC has released an update on its activities to de-risk and advance the Cascabel Project. The company is currently progressing with a comprehensive geotechnical program to determine optimal locations for future infrastructure at Cascabel. This includes the process plant, tailings storage facility, camp, waste dumps, and surface workshops. The program will also provide information on any unexpected mineralization. The first drill for this vital work is scheduled to be mobilized in the third quarter of this calendar year.

SolGold is actively establishing the project team, targeting to secure all positions by early Q4 calendar 2024. The team will comprise experts in various fields such as mining, TSF, logistics, infrastructure, civil, geology, metallurgy, process plant, environmental management and permitting, scheduling and cost control, and offtake marketing. The company has also successfully acquired key permits that will further expedite the activities necessary to advance Cascabel's development, including the Cascabel Underground Exploration Permit and the geotechnical drilling permit for all areas of the project to be examined.

SolGold is preparing for the upcoming geotechnical drilling and the official selection of the project management group following the tender process. The company is committed to delivering value to its shareholders while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace, and minimizing environmental impact. Regular updates on these activities will be shared to keep stakeholders well-informed as progress continues.