SolGold reported that Management's discussions for a significant potential funding package ("Financing") for the Cascabel Project ("Cascabel" or the "Project") are progressing. As an interim measure, Franco-Nevada Corporation ("Franco-Nevada") provided a USD 10 million loan facility ("Loan Facility") to the Company. The Financing and Loan Facility were previously referenced in the Company's news release issued on May 14, 2024.

The Loan Facility was provided to support SolGold's ongoing operations as discussions regarding the longer-term Financing advance. Franco-Nevada is a valuable partner in the Project and is very supportive of these developments. The $10 Million Loan Facility provided by Franco-Nevada is subject to a 12% per annum interest rate and matures on 19 July 2024.

The Company cautions readers that, with the exception of the Loan Facility, it has not entered into any new agreements regarding such a transaction, and there can be no assurance that any discussions that have taken place will result in such agreements. Given that SolGold is presently in discussions, the Company does not intend to comment further unless otherwise required pursuant to applicable securities laws and regulations.