Chronicle Journal: Finance

Soma Gold Announces a Theft at the La Ye Mine in El Bagre, Colombia

Vancouver, British Columbia--(Newsfile Corp. - June 12, 2020) -  Soma Gold Corp. (TSXV: SOMA) (WKN: A14YF1) (OTC: PRSRF) (formerly Para Resources Inc.) (the "Company" or "Soma") announces that a robbery occurred at the Company's wholly owned La Ye Mine in El Bagre, Colombia, on June 10th. An armed group of individuals entered the mine site after a gold pour but before the doré was transported by helicopter to the refinery in Medellin. No employee was injured during the theft but the thieves were able to steal a doré bar of 475 equivalent gold ounces. The Police and Colombian Military have been to site and an active investigation is underway. The gold was insured and the Company expects a full recovery.

Javier Cordova, the Company's CEO, states, "the thieves took advantage of a change in the protocols during the transition as a result of the recent acquisition of Operadora by Soma. New protocols and a full security review have been instituted."

ABOUT SOMA GOLD:

Soma is a junior gold mining and exploration company. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. The La Ye mine is currently operating and producing and the El Limon mine and mill are scheduled to begin operating in Q1 2021. Internally generated funds will be used to finance a regional exploration program.

The Company also owns an exploration and development property near Tucuma, Para State, Brazil.

On behalf of the Board of Directors

"Javier Cordova Unda"

Chief Executive Officer and President

For further information, please contact Andrea Laird, telephone: +1-604-259-0302

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57760

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