VANCOUVER, British Columbia, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp.(TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) wishes to correct a calculation error regarding the all-in sustaining cost (“AISC”) disclosed on September 15, 2021, as part of the results from an independent Preliminary Economic Assessment (“PEA”) and updated Mineral Resource Estimate completed on the Company’s Cerro Caliche gold project located in Sonora State, Mexico.
Due to the inadvertent inclusion of certain tax and depreciation expenses in its calculations, the Company reported the AISC to be US$489.3 million LOM, and US$1,462 per ounce (“oz.”) of gold equivalent (“AuEq”). The corrected amounts, as reported in the table below, are US$437 million LOM, and US$1,351 per oz. AuEq.
| Operating Costs | LOM (US$M) | US$/oz AuEq |
| Mining | $174.7 | $540 |
| Processing | $204.9 | $633 |
| Administration | $17.3 | $53 |
| Total Cash Costs | $396.9 | $1,227 |
| Refining | $20.7 | $64 |
| Royalties | $11.7 | $36 |
| Sustaining | $4.8 | $15 |
| Closure | $2.9 | $9 |
| All-in Sustaining Costs (AISC) | $437.0 | $1,351 |
The other results of the PEA reported in the Company’s September 15, 2021 announcement remain unchanged. The PEA has been prepared in accordance with the requirements of National Instrument 43-101 by D.E.N.M. Engineering Ltd. of Burlington, Ontario (“D.E.N.M.”).
Qualified Person StatementDavid Salari, P.Eng., of D.E.N.M. Engineering Ltd., who is independent of the Company and a Qualified Person as defined under NI 43-101, has reviewed and approved the scientific and technical information herein regarding the Company’s Cerro Caliche Project.
Stephen Kenwood, P.Geo., a Director of Sonoro Gold, is a Qualified Person within the context of National Instrument 43-101 (NI 43-101) and has read and approved this news release.
About D.E.N.M. Engineering LimitedD.E.N.M. Engineering Ltd. is a niche engineering company servicing the mining / mineral processing sector that specializes in Engineering & Design, Equipment Supply, Project & Construction Management, Commissioning and Operations Support. D.E.N.M. Engineering Ltd. has proven success while championing projects for over fifteen years in Canada, USA, Mexico and Central America.
In addition, D.E.N.M. Engineering, with its principal and independent specialists, performs NI 43-101 compliant assessments and studies in the sections of mineral processing metallurgical design, process design, capital and operating costing and cash flow analysis.
About Sonoro Gold Corp.Sonoro Gold Corp. is a publicly listed exploration and development company holding the near development stage Cerro Caliche project and the exploration stage San Marcial properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.
| On behalf of the Board of Sonoro Gold Corp. |
| Per: | “Kenneth MacLeod” |
| | Kenneth MacLeod |
| | President & CEO |
For further information, please contact: Sonoro Gold Corp. - Tel: (604) 632-1764 Email: info@sonorogold.com