THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, Canada, June 21, 2022 (GLOBE NEWSWIRE) — Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that, in response to strong investor demand, the Company is increasing its previously announced non-brokered private placement (the “Offering”) from 13,500,000 Units to 16,000,000 Units for gross proceeds of up to $2,400,000.

Directors and officers of the Company are expected to participate in the Offering by subscribing for 4,516,828 Units for gross proceeds of $677,524 constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. To the extent that the transactions constitute a related party transaction, Sonoro intends to rely on exemptions from the associated formal valuation and shareholder approval requirements.

The Offering price remains $0.15 per Unit, each comprised of one Sonoro Common share and one Common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro Common share for a period of two years from the closing at an exercise price of $0.225 per share.

The Company intends to pay finder’s fees as permitted under the policies of the TSX Venture Exchange in respect of Units placed with the assistance of registered securities dealers. The Offering is subject to TSX Venture Exchange acceptance. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the closing date.

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 project 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: [email protected]

This press release may contain “forward-looking information” as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Cerro Caliche project, and future plans and objectives of the Company, constitute forward looking information that involve various risks and uncertainties. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective” and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility that the Offering will not be fully subscribed, Company directors and officers may not participate in the Offering to the extent anticipated, and the Exchange withholding its acceptance of the Offering. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR at www.sedar.com.

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

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act”

Original Article: https://www.globenewswire.com/news-release/2022/06/21/2466022/0/en/SONORO-GOLD-INCREASES-PRIVATE-PLACEMENT-TO-2-4-MILLION.html

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.