07:14 AM EDT, 04/10/2025 (MT Newswires) -- Soma Gold ( SMAGF ) , which rose 6.5% on Wednesday, said it completed the purchase of two additional mining concessions in Antioquia, Colombia for US$50,000 plus a 2% net smelter return royalty, which may be halved through a US$1 million payment to the vendor.

The concessions are contiguous to a mining concession that Soma already owns and increases its property package to 41,427 hectares, the company said on Thursday. They expand Soma's coverage along a mineral-bearing structure which extends from Aris Mining's (ARIS.TO) Segovia Mine to Mineros' (MSA.TO) alluvial concessions to the north.

Soma also reported that negotiations to acquire and process mineralized rock from Denarius Metals' Zancudo Mine have been terminated due to restrictions under Denarius' offtake agreement with Trafigura. Feed for the El Limon Mill will instead come from surplus production at the Cordero and Aurora Mines, as well as other formalized mines on Soma's property.