SolGold : Cascabel Exploration Update - Hole 21 at Hematite Hill assay results confirm 150m                          strike-extension at Alpala

("SolGold" or the "Company")

The Board of SolGold (AIM code: SOLG) is pleased to provide the final copper-gold assay results for the significantly mineralised portion of Hole 21 at the Company's Cascabel copper-gold porphyry project in Ecuador.

• Hole 21 (CSD-17-021) at Hematite Hill assay results confirm a 20% (150m) strike- extension from 750m to 900m.
• Hole 21 collar is situated approximately 250m along strike to the southeast of the collars of Holes 23R (in progress) and Hole 16 (856m @ 0.80% Cu, 1.04g/t Au) returns:
  • 844.0m @ 0.73 % copper and 0.43 g/t gold from 688.0m (at 0.30% CuEq cut-off), and
  • 670.0m @ 0.82 % copper and 0.51 g/t gold from 826.0m (at 0.50% CuEq cut-off), and
  • 304.0m @ 0.99 % copper and 0.63 g/t gold from 962.0m (at 0.70% CuEq cut-off).
• Holes 23R, 24, and 25 continue in mineralisation.

The Cascabel Project is located on the gold-rich northern section of the prolific Andean Copper belt renowned as the production base for nearly half of the world's copper supply (Figure 1). The project area hosts mineralisation of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte, in northern Ecuador, approximately three hours drive north of Quito, close to water, power supply and Pacific ports (Figure 2). SolGold holds an 85% interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel tenement.

Fifteen individual targets have been defined at Cascabel. SolGold has successfully drill tested four of the fifteen targets, being Alpala Central, Alpala Northwest, Hematite Hill (Hole 25), and Alpala Southeast (Hole 24) (Figure 3). The deposit at Alpala continues to grow with each new drill hole. Current drilling focuses on defining the geometry of the growing Alpala deposit, which is open in virtually all directions. Over 35,000m of drilling has been completed to date, and the arrival of Rigs 4, 5, 6 and 7 over the coming two quarters will see drill testing expanding to Alpala East, Alpala West, Trivinio and Aguinaga by mid-year. The drilling program is planned to expand to eight drilling rigs by year end, which will also see drill testing of the Tandayama-America prospect (Figure 4). SolGold now believes that several targets clustered within the Alpala area may coalesce.

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SolGold plc UK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@SolGold.com.auWebsite: www.SolGold.com.au Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001

Hole 21 collar, situated approximately 250m along strike to the southeast of the collars of Holes 23R (in progress) and Hole 16 (856m @ 0.80% Cu, 1.04g/t Au) returned the following significant intersections:

• 844.0m @ 0.73 % copper and 0.43 g/t gold from 688.0m (at 0.30% CuEq cut-off), including:

• 670.0m @ 0.82 % copper and 0.51 g/t gold from 826.0m (at 0.50% CuEq cut-off), and

• 304.0m @ 0.99 % copper and 0.63 g/t gold from 962.0m (at 0.70% CuEq cut-off).

The position of Hole 21 is shown in cross-section A-A' in Figure 5. Selected examples of mineralisation encountered in Hole 21 are shown in Figure 6. Detailed results from Hole 21 are shown in Table 1 below.

SolGold has completed the ground magnetic survey over Cascabel, and crews for the detailed Orion- Spartan 3D IP survey across most of the licence area are being mobilised (Figure 7). Processing of this improved magnetic data is underway and this work will not only augment the existing geophysical targets at Alpala and Aguinaga, but further investigate the promising Tandayama-America anomaly and other satellite targets on the property. SolGold is refining exploration and drill targets along the Alpala cluster, as well as those at Moran, Aguinaga, and Tandayama-America. A 'LIDAR'© topographic control survey is being planned for commencement mid-year.

Upgrade and expansion of site facilities are well underway at Cascabel as the project continues to expand towards 7 rigs by October and 10 rigs next year. The geology team have yet to define the extents of the Alpala porphyry system, and the deposit remains open in most directions, continuing to grow with each new drill hole.

An aggressive drill program, producing approximately 90,000m of diamond drill core per annum from early 2018 is planned to delineate the system limits along the greater Alpala trend prior to a maiden resource statement, and to test the other multiple targets within the concession.

An increasing understanding of the deposit is now leading to much larger step-outs in drilling as SolGold directs its program towards the copper and gold at a predicted large and rich heart of the Alpala system. The presence of magnetite with chalcopyrite and bornite with potassic alteration endorses the predictive nature of the 3D Magnetic model at Cascabel. The magnetic bodies at Alpala, Moran and Aguinaga envelope approximately 15 billion tonnes of largely untested magnetic rock. SolGold is excited by the strong correlation between magnetic signatures and copper mineralisation in this system.

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

SolGold Plc (Executive Director) +61 (0) 417 880 448

nmather@SolGold.com.au

SolGold Plc (Company Secretary) kschlobohm@SolGold.com.au

SP Angel Corporate Finance LLP (NOMAD and Broker) ewan.leggat@spangel.co.uk

Follow us on twitter @SolGold_plc

SolGold is a Brisbane, Australia based, AIM‐listed (SOLG) copper gold exploration and future development company with assets in Ecuador, Solomon Islands and Australia. SolGold's primary objective is to discover and define world‐class copper‐gold deposits. The Board and Management Team have substantial vested interests in the success of the Company as shareholders as well as strong track records in the areas of exploration, mine appraisal and development, investment, finance and law. SolGold's experience is augmented by state of the art geophysical and modelling techniques and the guidance of porphyry copper and gold expert Dr Steve Garwin.

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SolGold plc UK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@SolGold.com.auWebsite: www.SolGold.com.au Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001

SolGold was shortlisted as a nominee for the Mining Journal Explorer Achievement Award for 2016. The Company announced USD54m in capital raisings in September 2016 involving Maxit Capital LP, Newcrest International Ltd and DGR Global Ltd, all undertaken at substantial premiums to previous raisings and SolGold has (at March 2017) circa USD35 million in available cash to continue the exploration and development of its flagship Cascabel Project.

Coincident with those capital raisings, Mr Scott Caldwell (CEO of TSX-listed Guyana Goldfields Inc) joined the SolGold Board on 9 September 2016. Mr Caldwell is a mining engineer with over 30 years of experience building and operating gold and base metal mines worldwide, including USA, Canada, Russia, Zimbabwe, Chile and Indonesia and was in 2016 recognised as CEO of the year for South- American resource companies.

Mr Craig Jones also joined the SolGold Board on 3 March 2017, nominated to the Board of SolGold by Newcrest Mining, a 10% shareholder in SolGold. Mr Jones is a Mechanical Engineer and is currently the Executive General Manager Wafi-Golpu (Newcrest-Harmony MMJV). He has held various senior management and executive roles within the Newcrest Group, including General Manager Projects, General Manager Cadia Valley Operations, Executive General Manager Projects and Asset Management, Executive General Manager Australian and Indonesian Operations, Executive General Manager Australian Operations and Projects, and Executive General Manager Cadia and Morobe Mining Joint Venture. Prior to joining Newcrest, Mr Jones worked for Rio Tinto.

Cascabel, SolGold's 85% owned world class flagship copper‐gold porphyry project, is located in northern Ecuador on the under‐explored northern section of the richly endowed Andean Copper Belt. SolGold owns 85% of Exploraciones Novomining S.A. ("ENSA") and approximately 11% of TSX‐V‐listed Cornerstone Capital Resources ("Cornerstone"), which holds the remaining 15% of ENSA, the Ecuadorian registered company which holds 100% of the Cascabel concession.

The investment by Newcrest into 10% of SolGold, and investment into SolGold by Guyana Goldfields, Maxit Capital and its clients, endorses Ecuador as an exploration and mining destination, the management team at SolGold, the dimension, size and scale of the growing Alpala, and the prospectivity of Cascabel and its multiple targets. The gold endowment, location, infrastructure, logistics are important competitive advantages offered by the project.

To date SolGold has completed geological mapping, soil sampling, rock saw channel sampling, geochemical and spectral alteration mapping over 25km2, along with an additional 9km2 of Induced Polarisation and 14km2 Magnetotelluric "Orion" surveys over the Alpala cluster and Aguinaga targets.

SolGold has completed over 35,000m of drilling and expended over USD43M on the program, corporate costs and investments into Cornerstone. This has been accomplished without lost time injury or environmental incident, employing a workforce of up to 176 Ecuadoreans workers and geoscientists and 6 expatriate Australian geoscientists. The results of 26 holes drilled (including re- drilled holes) and assayed to date have produced, in our opinion, some of the greatest drill hole intercepts in porphyry copper-gold exploration history including Hole 12 (CSD-16-012) returning 1002m grading 0.76 % copper and 0.77 g/t gold. The average grade of all metres drilled to date on the project boasts 0.32 % copper and 0.27 g/t gold. Intensive diamond drilling is planned for the next 12 months with 10 drill rigs expected to be operational early 2018, targeting over 90,000m of drilling per annum.

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SolGold plc UK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@SolGold.com.auWebsite: www.SolGold.com.au Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001