VANCOUVER, BC, Feb. 2, 2023 /CNW/ – Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma“) is pleased to announce that Mark J. Bren has joined the Company in the role of Vice President – Operations, effective February 1, 2023. Mr. Bren brings an advanced level of technical mining and operating experience to Soma, and his appointment fills a gap in the Company’s management structure.
Mr. Bren has previously worked with several senior management team members, where his expertise, work ethic and direct approach were appreciated by the executive team and the Board of Directors.
Mr. Bren studied Forestry and Business Administration at the University of Montana from 1987 to 1988. He graduated in 1994 from the Montana College of Mineral Science and Technology in Butte, Montana, with a Bachelor of Science in Mining Engineering. He has completed many continuing education courses on topics pertinent to the design, management and expansion of the Company’s mines in Colombia, including mine safety, shotcrete for underground support, mine ventilation and backfill technology.
Mr. Bren is also a member of the following associations
- The Society for Mining, Metallurgy, and Exploration Incorporated
- Coeur d’Alene Section of the SME
- Northwest Mining Association
Javier Cordova, President and CEO, states, “We are delighted to add a seasoned professional such as Mark to our senior management team. Now that our Cordero Mine is in Commercial Production, the focus will be on the optimization of the mining method and mine production. Our goal is to increase production at the Cordero Mine from the current 400 TPD to 700 TPD by mid-year 2023 to justify re-starting the el Limon mill, which is currently on care and maintenance. The Colombian operations team will report directly to Mark. His experience and knowledge will greatly contribute to managing the mining operations and assessing potential new technologies and methods, including additional mechanization, the application of shotcrete and the implementation of enhanced safety protocols. We are very pleased to add Mark to the team.”
Mr. Bren will be awarded 200,000 stock options of Soma as a part of his compensation.
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (Permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.
The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.
On behalf of the Board of Directors
“Javier Cordova Unda”
Chief Executive Officer and President
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This news release refers to certain financial measures, such as EBITDA,Adjusted EBITDA, average realized price per ounce of gold sold, and total cash costs per ounce of gold sold which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. These measures may differ from those made by other companies and accordingly may not be directly comparable to such measures as reported by other companies. These measures have been derived from the Company’s financial statements because the Company believes that they are of benefit in understanding the Company’s results. For a complete explanation of these measures, please refer to Non-IFRS Financial Performance Measures disclosure included in the Company’s MD&A for the Years Ended December 31, 2022 and 2021 and the Three and Six Months Ended June 30, 2022 and 2021 which can be accessed at www.sedar.com.
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.