Drilling Reports at Tandayama

17 September 2025

SolGold plc

("SolGold" or the "Company")

Reports Drilling at Tandayama Advances Early Open Pit Strategy

& Supports Development Studies

SolGold (LSE: SOLG) announces that drill hole results received for holes 57, 59, 60, 61, 62, 63, 64, and 65 support the emerging strategy for the development of early-stage open-cut resources at Tandayama America ("Tandayama"), 3 km north of the Alpala resource and reserves on the Company's 100% owned Cascabel porphyry copper-gold Project ("Cascabel" or the "Project") in Northern Ecuador.

Completed drill hole assay results for holes 66, 67, and 68 are yet to be received. Hole 69 is currently being drilled to complete the original program in the next week. Also, hole 70 has already started (TAM-1) as part of the phase-2 drilling program.

Significant zones of potentially open-cuttable resources continue to be defined by the current drilling program, with three rigs deployed. In addition to exploration and resource definition, selected drill holes are being used to collect geotechnical data for pit design and metallurgical samples to support future mill testwork. A further 2,870 m has been designed to seek to define limits to mineralisation, potential pit boundaries and provide a database for revised resource calculations. Completion of the extended phase is expected in the next five weeks.

The extended program will assess high-grade zones close to the surface on the southern conceptual pit 1 area (one rig), and a second rig is extending the mineralised zone at the bottom of hole 58 (previously reported)1, which ended in ore-grade mineralization. Mineralised zones between conceptual pits 1 and 2 are planned to be tested. A third rig is deployed to test the northern extent of mineralisation in the northern area of pit 2 and coincident anomalous geochemical zones, magnetic anomalies indicative of porphyry copper-gold targets and outcropping porphyry-style copper-gold mineralisation approximately 500 m to the west of Tandayama. (Figures 2 and 4)

The Tandayama porphyry system is proving to be more extensive than initially thought, with discrete higher-grade zones enveloped in a system of lower-grade mineralisation. The Tandayama system remains open at depth to the southeast of pit 1.

Drill hole results received since the last announced results on 15 August 20251 include:

· Hole 65: 166 m at 0.44% CuEq from 20 to 186 m, including a higher-grade zone of 0.61% CuEq from 112 to 186 m. This intersection also contained a 14 m interval grading 0.76% CuEq, highlighting the presence of higher-grade shoots near surface. Hole 65 is located across the southern third of the conceptual north pit area, 260 m SW of the high-grade near-surface intersection in hole 58. (Figure 2)

· Hole 60: Other significant results indicating the extent of medium and low-grade mineralisation include 124 m at 0.41% CuEq from 40 m depth, including 26 m at 0.57% CuEq.

· Hole 57: 160 m from 104 m @0.33% CuEq.

· Hole 59, 61, and 62: Broad, lower-grade zones were encountered, demonstrating the continuity of mineralisation across the conceptual pit areas.

· Hole 69: Occurrences of bornite, a high-grade copper sulphide mineral observed in the drilling, provide further encouragement. Drilling is ongoing. (Figure 5)

TANDAYAMA WEST

SolGold has identified an additional open-pittable target approximately 500 m west of proposed pits 1 and 2. The area is characterised by a magnetic high with a concentric low, interpreted as a central magnetic intrusive and peripheral alteration zone. Previous reconnaissance mapping identified an 18.4-metre-long zone in a creek outcrop with rock channel samples averaging 0.23 g/t gold and 0.24% copper (0.44% CuEq). Within this, a 2.2 m sample graded 0.67 % copper and 0.76 g/t gold (1.32% Cu Eq) hosted in altered intrusive rocks with evident brecciation and multidirectional B veining of the type evident at Alpala and Tandayama. (Figure 5) The outcrop demonstrates that anomalous gold and copper mineralisation is present in the intrusive porphyry system. The dimensions of the magnetic anomaly substantiate potential for a significant resource to be defined with a view to early-stage development of open-pittable resources at Cascabel. SolGold has a drill hole planned to test this target. (Figures 2 and 4) 

CEO Dan Vujcic commented,

"I am pleased to see the mineralisation expanding with more high-grade zones. Tandayama West looks interesting and could potentially add significant life to the open pit complex, further de-risking the overall project as we embark on commencing early works at Alpala. Additional targeted infill and explorative drilling that I have recently approved will allow us to expand the resource further and better define the economics of the pit. The current drilling is providing valuable geotechnical and metallurgical data needed to accelerate mine and processing design. The progress in six short months has been remarkable, and we continue to move with conviction to create significant shareholder value, which is our primary focus."

Figure 1. Maps of the Tandayama América deposit showing the preliminary designed pit 1 and pit 2, the holes drilled to date, and the planned holes for the phase 2 drilling program. A) Au soil anomaly map, where high gold anomalies coincide with pit 1 and pit 2 and show other exploration targets towards the NW of pit 2, and towards the W of pit 1 and 2 (Tandayama-West). B) Reduced to pole magnetic map showing high magnetic anomalies coinciding with pit 1 and pit 2, and also another similar high magnetic anomaly towards the west of pit 1 and 2, named Tandayama-West, this anomaly shows porphyry-style mineralization on the surface as it is presented in the rock channel samples. These anomalies are going to be tested during the phase 2 drilling program.

Figure 2. Sections of the preliminary designed Pit 1 and Pit 2, showing the updated mineralized intersections, and the planned holes (blue lines) to test the extensions of mineralization already found to proper categorization to open pit mining.

Table 1. Assay results summary:

Figure 3. Representative core photographs from the drilled holes. A) Magmatic Intrusive Breccia (IBX), hosting magnetite, chalcopyrite and pyrite bearing B veins (0.36% Cu, 0.19 g/t Au). B) Lapilli tuff (V), hosting chalcopyrite-bearing B-vein overprinted by pyrite vein (0.88% Cu, 0.86 g/t Au). C) IBX, hosting chalcopyrite bearing B-vein (0.31% Cu, 0.098 g/t Au). D) IBX, hosting chalcopyrite and pyrite-bearing B-vein (0.50% Cu, 0.61 g/t Au). E) IBX, hosting chalcopyrite bearing B-vein (0.88% Cu, 1.27 g/t Au). F) IBX, hosting chalcopyrite-bearing B-vein crosscut by C veins (0.49% Cu, 1.07 g/t Au). G) IBX, hosting chalcopyrite bearing B-veins (0.28% Cu, 0.61 g/t Au). H) IBX, hosting disseminated chalcopyrite (0.38% Cu, 0.15 g/t Au). I) Quartz diorite (QD15), hosting chalcopyrite bearing B-vein (0.35% Cu, 0.15 g/t Au). J) Diorite (D10), hosting chalcopyrite magnetite-bearing B-vein (0.25% Cu, 0.28 g/t Au). K) IBX, hosting magnetite, pyrite and chalcopyrite bearing B-vein (0.55% Cu, 0.47 g/t Au). L) IBX, hosting fine disseminated chalcopyrite (0.26% Cu, 0.23 g/t Au). M) Diorite (D10), hosting chalcopyrite, pyrite and bornite bearing B-vein (0.30% Cu, 0.24 g/t Au). N) IBX, hosting chalcopyrite and pyrite bearing B-vein (0.29%Cu, 0.29 g/t Au). O) Diorite (D10), hosting chalcopyrite, pyrite and magnetite stockwork B-veins (0.52% Cu, 1.44 g/t Au). P) IBX, hosting magnetite chalcopyrite and pyrite bearing B-veins (0.84% Cu, 1.06 g/t Au).

Figure 4. Outcrop sample from Tandayama West Anomaly. Copper gold mineralisation (0.76 g/t Au, 0.67% Cu, 1.32% CuEq) 2.2m of an 18.4 m rock channel sample (averaging 0.23 g/t Au, 0.24% Cu, 0.44% CuEq) on fractured and veined out cropping porphyry host at Tandayama West.

Figure 5. B veins from hole 69, showing bornite bordering chalcopyrite. The images were taken under 20x (left) and 40x magnification (right).

CONTACTS

ENDNOTE:

1. Refer to News Release Dated 15 Aug 2025: SolGold plc Reports Exceptional Near-Surface Copper-Gold Intercepts at Tandayama América: Link to News

ABOUT SOLGOLD

SolGold is a leading resources company focused on the discovery, definition, and development of world-class copper and gold deposits, and continues to strive to deliver objectives efficiently in the interests of its shareholders.

The Company operates with transparency and in accordance with international best practices. SolGold 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.

SolGold is listed on the London Stock Exchange (LSE: SOLG).

See www.solgold.com.au for more information. Follow us on X @SolGold_plc.

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The scientific and technical disclosure included in this news release has been reviewed and approved by Mr. Santiago Vaca (M.Sc. P.Geo.), a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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