Sonoro Gold

What Sonoro Gold does

Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) is a junior gold exploration and development company headquartered in West Vancouver, British Columbia, with operating assets concentrated in the mining-friendly jurisdiction of Sonora, Mexico. The company was founded in 2011 (originally as Sonoro Metals Corp., rebranded in September 2020) and is led by President & CEO Kenneth MacLeod and Chairman John M. Darch. Its flagship asset is the Cerro Caliche gold project, comprised of 15 contiguous mining concessions totaling approximately 1,350 hectares on the original property, expanded in May 2026 to approximately 9,001 hectares through the acquisition of 11 additional contiguous mineral concessions along strike. A secondary exploration-stage asset, the San Marcial gold-silver project, is under consideration for a spin-out into wholly-owned subsidiary Oronos Gold Corp. Operations are conducted through the company's wholly-owned Mexican subsidiary Minera Mar de Plata S.A. de C.V. (MMP).

Cerro Caliche is in the final permitting stage for an initial open-pit, heap leach mining operation scaled at 12,000-16,000 tonnes per day, with a revised Environmental Impact Statement (MIA) under review by Mexico's federal environmental authority SEMARNAT. The February 2026 updated NI 43-101 Preliminary Economic Assessment, prepared by P&E Mining Consultants with an updated Mineral Resource Estimate by SRK Consulting, projects average annual gold production of approximately 46,000-47,000 ounces over a 10-year mine life (459,000 ounces total), at all-in sustaining costs of USD $1,902 per ounce, initial capex of USD $83 million, a 1.7-year payback, and after-tax NPV of USD $224 million / IRR of 50% at a base case gold price of USD $3,500/oz (rising to USD $525 million NPV / 91% IRR at spot). The resource database comprises 46,765 metres of drilling across 419 drill holes, with a further 50,000-metre two-phase drilling program initiated in May 2026.

Sonoro is pre-revenue and generates no commercial product sales. Capital is raised exclusively through non-brokered private placements of units (common shares plus warrants) to institutional and sophisticated investors, with insider participation of over 26% of outstanding shares. Aggregate capital raised exceeds CAD $27.47 million since 2018, with CAD $12.2 million closed in April 2026 and CAD $15.5 million closed in June 2026 (the latter oversubscribed at $0.25 per unit). The go-to-market motion combines direct shareholder communications, the corporate website, investor presentations, YouTube content, social media, and participation at mining industry events such as the annual PDAC conference in Toronto. The customer base for future gold production will be the global spot gold market, while the current "customer" base for capital is a retail shareholder base spread across Canada, the United States, Germany, and Switzerland.

Name

Sonoro Gold

Legal name

Sonoro Gold Corp.

Website

https://sonorogold.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Pre-revenue junior gold exploration and development company advancing its Cerro Caliche heap leach project in Sonora, Mexico, toward initial production of approximately 46,000-47,000 ounces of gold annually over a 10-year mine life, funded through non-brokered private placements.

Ownership category

akta.pro rank

Product category

Gold Mining and Mineral Exploration

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Ground or Treated Mineral and Earth Manufacturing (327992), Construction Sand and Gravel Mining (212321)

SIC

Gold And Silver Ores (1040), Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Precious Metals Bullion & Concentrates Trading (Gold, Silver, PGM) (IMAKAJAD), Plant Operations, Control & Optimization (Metallurgical Accounting, APC, Digital Twins) (IMAKALAJ)

Keywords

• Gold exploration
• Mineral development
• Heap leach mining
• Resource estimation
• Gold mining operations

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Gold Production Revenue: Once the Cerro Caliche project reaches production, revenue will be generated from the sale of extracted and processed gold. The project is designed as an open-pit heap-leach operation targeting 16,000 tonnes per day capacity with projected annual production of approximately 46,000-47,000 ounces of gold over a 10-year mine life.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Sonoro Gold Corp. is a junior gold exploration and development company focused on advancing its flagship Cerro Caliche gold project in Sonora, Mexico toward production as an open-pit, heap leach mining operation. The company also holds the San Marcial gold-silver exploration-stage project, and once Cerro Caliche reaches commercial production it intends to sell extracted gold doré. The company currently raises capital through non-brokered private placements to fund exploration, drilling, permitting and mine development activities.

Product overview

Sonoro Gold Corp. is a junior gold exploration, development, and soon-to-be gold producer with two mineral projects in the mining-friendly jurisdiction of Sonora, Mexico. The company's flagship property is the Cerro Caliche gold project, a development-stage open-pit heap leach mining operation currently in the final permitting stage. The secondary asset is the San Marcial gold-silver exploration project. The company plans to utilize cash flow from initial production at Cerro Caliche to fund further exploration and mine expansion.

Differentiator

Problem solved

Functional benefit

Products and services

• Cerro Caliche Gold Project The flagship development-stage gold project located in Sonora, Mexico, currently in the final permitting stage for an initial 12,000 tonnes per day open-pit, heap leach mining operation with a projected 10-year mine life. Designed to produce approximately 46,000-47,000 ounces of gold per year at all-in sustaining costs of USD $1,902 per ounce.
• San Marcial Gold-Silver Project An exploration-stage gold-silver project located in the Municipality of Santa Ana, Sonora, Mexico, overlaying the historic Soledad and San Marcial mine sites, with potential for large low-grade gold-silver mineralization and under evaluation for potential spin-out as a stand-alone subsidiary.

Quantifiable outcome

• After-tax NPV of USD $224M at gold price of $3,500/oz with 50% IRR
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• SEMARNATcoreOthers · 17 June 2026Secretaría de Medio Ambiente y Recursos Naturales (SEMARNAT) is Mexico's federal environmental permitting authority. The MIA (Environmental Impact Statement) for the Cerro Caliche project is under review by SEMARNAT, and approval will transition the company from exploration to development and production phase.
• P&E Mining Consultants Inc.coreImplementation/ SI/ Consulting PartnerP&E Mining Consultants of Brampton, Ontario was engaged to complete the updated NI 43-101 compliant Preliminary Economic Assessment on the Cerro Caliche project. P&E was established in 2004 and has extensive experience in geological interpretation, 3D geologic modeling, technical report writing, Mineral Resource and Mineral Reserve Estimates, property evaluations, mine design, production scheduling, operating and capital cost estimates and metallurgical engineering.
• SRK Consulting (U.S.), Inc.coreImplementation/ SI/ Consulting PartnerSRK Consulting was engaged to prepare an NI 43-101 compliant updated Mineral Resource Estimate for the Cerro Caliche gold project.
• Minera Mar de Plata S.A. de C.V. (MMP)coreOthersMMP is the wholly-owned Mexican subsidiary of Sonoro Gold that holds 100% of the mineral concession titles for the Cerro Caliche and San Marcial projects. MMP has executed option agreements and Assignment of Rights Agreements to acquire concessions and has secured surface rights through lease agreements.
• Oronos Gold Corp.minorOthersProposed wholly-owned subsidiary being evaluated for potential spin-out of the San Marcial gold-silver project. A spin-out may be an effective strategy to unlock unrecognized value of San Marcial and fund development without diluting shareholders' holdings in Sonoro.
• Dentons Canada LLPminorImplementation/ SI/ Consulting PartnerLegal counsel for the company. David Hunter is the contact partner at Dentons Canada LLP.
• Smythe LLP (Former) / Davidson & Company LLP (Current)minorImplementation/ SI/ Consulting PartnerCompany auditors. Changed from Smythe LLP to Davidson & Company LLP effective May 2026.
• Odyssey Trust CompanyminorOthersTransfer agent for the company's shares, handling share registry and transfer services.

Scale indicators19 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Alamos Gold: Intermediate gold producer with operations in Sonora, Mexico (Mulatos mine), directly comparable to Sonoro's jurisdiction, business model, and target market. Alamos is also a logical strategic acquirer of Cerro Caliche.
• Argonaut Gold: Gold producer with operations in Sonora, Mexico, sharing the same jurisdiction, geology, and development-stage playbook. Curtis Turner, a Sonoro director, previously led corporate development at Argonaut.
• Torex Gold Resources: Mid-tier gold producer focused on Mexico (Morelos property), comparable in life-cycle stage and jurisdiction exposure to Sonoro's near-term production profile.

Broad incumbents

• Agnico Eagle Mines: Senior gold producer with major Mexican operations and the prior acquirer of Sonoro's Chipriona project. Directly relevant as a likely strategic acquirer and as a benchmark for permitting and operating in Sonora.
• First Majestic Silver: Senior silver-gold producer with multiple Mexican operations, broadly comparable as a Mexico-focused precious metals operator with active project development.
• Pan American Silver: Senior silver-gold producer with a diversified Mexican portfolio, comparable as a precious metals operator in the same mining-friendly jurisdiction.
• Newmont Corporation: World's largest gold miner with significant Mexican footprint (Peñasquito). Comparable as a senior acquirer profile for development-stage assets in Mexico and a benchmark for ultimate project economics at scale.

Emerging players

• Majestic Gold Corp: Junior gold producer/developer with which Sonoro shares director Stephen Kenwood as President & CEO. Comparable as a small-cap gold developer pursuing production in a similar risk-reward profile.
• i-80 Gold Corp: Emerging gold producer in Nevada with comparable junior-to-mid-tier development profile. Connected to Sonoro through director Curtis Turner, who serves as VP and Corporate Controller.
• Western Exploration Inc: Gold exploration and development company with comparable pre-production profile. Connected to Sonoro through director Curtis Turner, who serves as CFO.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xtwitter.com/SonoroGold
• YouTubeyoutube.com/@sonorogoldcorp?feature=shared
• Facebookfacebook.com/sonorometals
• LinkedInlinkedin.com/company/sonoro-gold-corp
• Instagraminstagram.com/sonorogold

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sonoro Gold