SONORO GOLD ANNOUNCES $0.5 MILLION PRIVATE PLACEMENT

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VANCOUVER, Canada, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that it will undertake a non-brokered private placement offering (the "Offering") consisting of up to 3,500,000 units (the “Units”) at a price of C$0.15 per Unit, for gross proceeds of up to C$525,000.  

Each Unit will be composed 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 of the private placement at an exercise price of C$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 net proceeds from the Offering will be used to fund the ongoing development of a proposed heap leach mining operation at the Company’s Cerro Caliche gold project in Sonora, Mexico.

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. The Offering is subject to TSX Venture Exchange acceptance.

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:

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”

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.