Sonoro Gold Corp. has completed the acquisition of 23 mineral concessions for its Cerro Caliche gold project in Sonora, Mexico, expanding the property footprint and securing ground for a larger epithermal system evaluation.

Following letters of intent executed on May 12, 2026, the company’s wholly owned Mexican subsidiary, Minera Mar de Plata, finalized the acquisition of a 100% interest in 23 mineral concessions covering 4,239.10 hectares. Total consideration for the 100% interest is USD $5.17 million, payable in installments over 18 months, alongside the assumption of approximately USD $990,000 in outstanding mineral concession fees.

In addition, Sonoro acquired up to a 51% interest in five adjacent mineral concessions spanning 453.91 hectares, subject to a commitment of up to USD $9 million in exploration and development expenditures. The purchase consideration for the transaction does not include the issuance of any securities or the grant of any royalty interests.

The expanded property footprint supports an ongoing 50,000-metre drilling program at Cerro Caliche. Phase I of the campaign is expected to conclude by the fall of 2026, comprising 25,000 metres across approximately 207 drill holes and 6,000 soil samples.

“The recent expansions at Cerro Caliche provide us with the potential to materially enhance the scope and scale of the project,” said Kenneth MacLeod, President and CEO of Sonoro Gold. “Our current 50,000 metre drilling program is focused on potentially increasing the size, grade and classification of the project’s mineral resource, as well as investigating the expected continuation of the mineralized corridors into these new concessions.”

The Cerro Caliche project is currently in the final permitting stage for a proposed initial open-pit, heap leach mining operation.

Elsewhere in the Sonora mining district, First Majestic Silver Corp. reported positive infill drilling results and received construction permits for the Santo Niño and Navidad portals at its Santa Elena silver-gold mine in June 2026, alongside a planned $12 million investment to advance underground access.

Read the full announcement: SONORO GOLD COMPLETES ACQUISITION OF 23 MINERAL CONCESSIONS TO FURTHER EXPAND THE CERRO CALICHE GOLD PROJECT