Ann: Business Update, page-10

TSX Listing Approval Granted

The Board of SolGold plc (SolGold or the Company) is pleased to advise that the Listing Committee of the Toronto Stock Exchange (TSX) has conditionally approved the Company's application to list SolGold on the TSX.





HIGHLIGHTS:

Ø Hole 23R (Rig 1 Alpala Central) assay results - delayed in laboratory.

Ø Hole 24 (Rig 3 Alpala Southeast) assay results:
- 586.0m @ 0.43% copper equivalent (0.27% Cu, 0.25 g/t Au) from 636m;
- 160m @ 1.04% copper equivalent (0.63% Cu, 0.65 g/t Au) from 738m.

Ø Hole 24 intersection represents robust mineralising porphyry system at depth.

Ø Hole 24 extends Alpala Deposit known mineralised corridor to approximately 1300m.

Ø Hole 25 (Rig 2 Hematite Hill) assay results:
- 776.0m @ 0.77% copper equivalent (0.58% Cu, 0.30 g/t Au) from 754m;
- 238m @ 1.76% copper equivalent (1.31% Cu, 0.70 g/t Au) from 772m;
- 100m @ 3.59% copper equivalent (2.64% Cu, 1.51 g/t Au) from 772m.

Ø Hole 25 intersection includes high-grade panel of intense bornite mineralisation representing upper portion of previously unknown porphyry apophysis at Alpala East.

References to figures and tables relate to the version of this release on the Company's website (www.solgold.com.au) or visible in PDF format by clicking the link below:

http://www.rns-pdf.londonstockexchange.com/rns/9364I_-2017-6-22.pdf

FURTHER INFORMATION:

SolGold's Alpala deposit continues to grow with each new drill hole.  Over 39,000m of drilling has been completed to date along the greater Alpala trend.  Current drilling focuses on defining the geometry of the growing porphyry copper-gold deposit at Alpala, which is open in virtually all directions (Figure 1).

Hole 23R (Rig 1 Alpala Central) assay results are delayed in the laboratory and will be released when available.  Visual evidence from the drill hole has previously been reported and suggests that the deposit is open to the east.

Selected examples of mineralisation encountered in Hole 23R are shown in Figure 2.

Hole 24 (Rig 3 Alpala Southeast) assay results returned 586.0m grading 0.43% copper equivalent (0.27% copper and 0.25 g/t gold) from 636.0m depth, including 160m grading 1.04% copper equivalent (0.63% copper and 0.65 g/t gold) from 738.0m depth.  This intersection in Hole 24 represents strongly phyllic altered, well mineralised diorite country rock above a robust mineralising porphyry system at depth.

Hole 24 extends the Alpala Deposit by 350m to the southeast of Hole 25 and expands the known mineralised corridor along the greater Alpala corridor (or the 'Trivinio - Alpala Southeast' trend) to approximately 1300m.

Selected examples of mineralisation encountered in Hole 24 are shown in Figure 3.

Hole 25 Assay results return 776.0m grading 0.77% copper equivalent (0.58% copper and 0.30 g/t gold) from 754m depth.  This intersection includes a high-grade panel of intense bornite mineralisation representing the cupola of a previously unknown high-grade quartz diorite apophysis that lies immediately east of the Alpala deposit (Figure 4).

The high-grade zone in Hole 25 returned 238m grading 1.76% copper equivalent (1.31% copper and 0.70 g/t gold) from 772m depth, including 100m grading 3.59% copper equivalent (2.64% copper and 1.51 g/t gold).

Selected examples of mineralisation encountered in Hole 25 are shown in Figure 5.

With subsequent drilling SolGold expects to significantly grow the size of the copper-gold deposit at Alpala.  Drilling is being expedited by use of Devico Directional Core Drilling Technology, which allows for steerable drill hole paths, increased drilling accuracy and faster acquisition of results through drilling multiple holes from each parent hole, achieving more drill metres within the orebody.

Hole 23R-D1 (Rig 1) started on 1st June 2017, is at a current depth of 804.6m, following deviation from the parent hole (Hole 23R) at 710m depth.  Hole 23R-D1 is 23R-D1 is a "daughter" hole planned to drill at a steep angle to the east, testing for extensions to the high grade early quartz diorite intrusion intersected in Hole 23R.

Hole 24-D1 started on 21st May 2017, and is at a current depth of 774.2m.  Hole 24-D1 is a "daughter" hole leaving the "parent" (Hole 24) at 780m depth testing for deeper extensions to the mineralisation discovered in Hole 24.

Hole 26 (Rig 4) started on 24th May 2017, testing the strike and depth extensions of Alpala towards the north and northeast. Hole 26 continues at a current depth of 451.1m, within mineralised diorite intrusive, towards a planned depth of at least 1800m.

Hole 27 (Rig 2) started on 24th May 2017, from the same location as Hole 25, and is at a current depth of 895.5m, within mineralised diorite intrusive, testing approximately 250m southeast of intersections achieved in Holes 16, 19 and 22.


Qualified Person:

Information in this report relating to the exploration results is based on data reviewed by Mr Nicholas Mather (B.Sc. Hons Geol.), the Chief Executive Officer of the Company.  Mr Mather is a Fellow of the Australasian Institute of Mining and Metallurgy who has in excess of 25 years' experience in mineral exploration and is a Qualified Person under the AIM Rules.  Mr Mather consents to the inclusion of the information in the form and context in which it appears.


By order of the Board
Karl Schlobohm
Company Secretary

CONTACTS
Mr Nicholas Mather Tel: +61 (0) 7 3303 0665
SolGold Plc (Executive Director) +61 (0) 417 880 448
[email protected]