17 November 2023

SolGold plc

("SolGold" or the "Company")

Director Changes

The Board of Directors of SolGold (LSE & TSX: SOLG) advises all shareholders and interested investors of the following changes to the Board of Directors of the Company.

Two SolGold Directors, Mr. Liam Twigger and Mr. James Clare, have notified the Board that they will not seek re-election as Directors of the Company at the forthcoming Annual General Meeting of the Company ("AGM") to be held in December 2023.  Mr. Twigger and Mr Clare have been an invaluable part of SolGold, serving as Chair and Non-Executive Director for three and five years, respectively. Following the AGM, the SolGold Board will undergo a reconstitution, appointing a new Chair and board committee memberships. The Board will begin a search for a new Chair of the Board immediately and will provide an update in due course.

In line with SolGold's commitment to maintaining a solid and adaptive skill and experience base, the Board has resolved to nominate Mr. Adrian (Steve) van Barneveld as a Non-Executive Director of SolGold, his appointment to be voted upon by shareholders at the AGM. Mr. van Barneveld has over 35 years of international experience across the resources and infrastructure sectors. He currently serves as General Manager, Australia West at a leading provider of minerals processing and associated infrastructure solutions to the global resources industry, where he has held senior executive positions throughout significant growth and international expansion with former roles including General Manager, Strategy & Growth, Chief Operating Officer, and Principal Engineer. He holds a Bachelor of Minerals Technology (University of Otago) and is a Non-Executive Director of Jameson Resources Limited (ASX: JAL). Mr. van Barneveld does not hold any securities in the Company.

The Notice of Meeting and Circular for the AGM to be held in December 2023 is anticipated to be sent to shareholders on or about 24 November 2023.

Mr. Twigger, Chair, and Mr. Clare, Non-Executive Director of SolGold, jointly stated:

"Our time at SolGold has been marked by significant progress and the consolidation of the Cascabel Project. The company's current trajectory is highly encouraging. Following the AGM, we believe it's the right moment for us to step aside, confident in SolGold's ability to further advance Cascabel and the ongoing strategic review on parallel paths."

Scott Caldwell, SolGold's CEO and President of SolGold Ecuador, commented:

"I would like to express my sincere appreciation to Liam and James for their significant contributions and steadfast commitment, especially during the critical phase post-Cornerstone merger and throughout our ongoing strategic review and feasibility studies. Their guidance has been instrumental in our journey."

Nick Mather, SolGold Founder and Non-Executive Director, remarked:

"Liam and James have played important roles in shaping the Company's path forward. Their advice and contribution have been greatly valued, and we acknowledge their support and dedication to SolGold's mission."

This announcement was approved for release by Steven Wood - Joint Company Secretary.

Certain information contained in this announcement would have been deemed inside information.

CONTACTS

ABOUT SOLGOLD

SolGold is a leading resources company focused on the discovery, definition and development of world-class copper and gold deposits and continues to strive to deliver objectives efficiently and in the interests of shareholders.

The Company operates with transparency and in accordance with international best practices. SolGold is committed to delivering value to its shareholders while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace, and minimizing the environmental impact.

SolGold is listed on the London Stock Exchange and Toronto Stock Exchange (LSE/TSX: SOLG).

See www.solgold.com.au for more information.

CAUTIONARY NOTICE

News releases, presentations and public commentary made by SolGold plc (the "Company") and its Officers may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's Directors, including the plan for developing the Project currently being studied as well as the expectations of the Company as to the forward price of copper. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements.

Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of the TSX and LSE or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may reinterpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.

This release may contain "forward‑looking information". Forward‑looking information includes, but is not limited to, statements regarding the Company's plans for developing its properties. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". 

Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management's geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Company to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Company to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company's public documents filed on SEDAR+ at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward‑looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The Company and its officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis.