SolGold plc provided an update on the Company's current initiatives and ongoing activities. The phased approach pre-feasibility study for the Company's 100% owned Cascabel Project located in northern Ecuador is nearing completion. The phased approach is expected to demonstrate a lower risk path for Cascabel, with several project optimizations expected compared to the 2022 Cascabel PFS, including lower capital costs.

The company reported that its Ecuadorian exploration team has been active during January 2024, making progress at the Blanca-Nieves Project, which hosts the newly discovered La Florida target. Blanca-Nieves is located 10 km north of the Cascabel Project. Exploration activities are expected to continue over the course of 2024, focusing on advancing new target areas and prospects for new discoveries.