SolGold plc

("SolGold" or the "Company")

25 March, 2015

Advance on Open Offer Funding from DGR Global and

Director Fee Conversion

The Board of SolGold (AIM code: SOLG) wishes to advise that the Company has agreed with DGR Global Limited ("DGR Global") to advance part of its binding Open Offer commitment pledged at the time of the announcement of the Open Offer on 18 March 2015.
Pursuant to a loan agreement entered into today, DGR Global will make available to SolGold up to A$300,000 (approximately £155,000) in short‐term debt funding. The principal terms of the loan are as follows:
Principal sum: A$300,000
Interest rate: 9.5% per annum
Term: The earlier of the closing of the Open Offer or 30 June 2015.
As detailed in the announcement and circular dated 18 March 2015 ("Circular"), DGR Global has irrevocably committed to take up its full Open Offer Entitlement amounting to approximately A$527,000 (approximately £265,000), and in addition has stated its intention to apply for approximately A$633,000 (approximately £317,000) of Excess Shares (with allocation subject to the Excess Open Offer Formula outlined in the Circular). Accordingly, it is intended by the parties that the A$300,000 loan be treated as an advance on DGR Global's Open Offer commitment which will be converted into Open Offer Shares.
Brian Moller and Nicholas Mather, are Directors of both SolGold and DGR Global. The loan by DGR Global to SolGold constitutes a related party transaction under the AIM Rules. The Directors other than Messrs Moller and Mather consider, having consulted with SP Angel, the Company's nominated adviser, that the terms of the loan are fair and reasonable insofar as its Shareholders are concerned.

Director Participation

In addition, as announced and detailed in the Circular, Messrs Mather, Moller, Bovard and Weinberg intend to take up their full Open Offer Entitlement, with Mr Nicholas Mather also intending to apply for 9,080,072 Excess Shares (with allocation subject to the Excess Open Offer Formula outlined in the Circular).
The following Directors have agreed with the Company to offset Directors' fees owing to them to fully or partially meet the costs of their subscription for Open Offer Shares:

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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: [email protected]Website: www.solgold.com.au

Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001

Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000

Director Outstanding Fees Equivalent amount in Open Offer Shares

Open Offer Entitlement under the Open Offer

Nicholas Mather $37,500 646,551 10,919,928
Robert Weinberg $16,667 287,362 445,498
John Bovard $31,973 551,259 551,259
Shareholders are reminded that the latest time and date for receipt of completed Application Forms, and payment in full under the Open Offer or settlement of relevant CREST instructions (as appropriate) is 11.00am on 8 April 2015.
It is expected that the results of the Open Offer will be announced at 8.00am on 9 April 2015.
Unless otherwise stated, capitalised terms used herein shall bear the same meanings as defined in the
Circular.
By order of the Board Karl Schlobohm Company Secretary

Contacts:

Mr Alan Martin

SolGold Plc (CEO and Managing Director) Tel: +61(0) 488 223 828

[email protected]

Mr Nicholas Mather Tel: +61 (0) 7 3303 0665

SolGold Plc (Executive Director) +61 (0) 417 880448

[email protected]

Mr Karl Schlobohm Tel: +61 (0) 7 3303 0661

SolGold Plc (Company Secretary)

[email protected]

Mr Ewan Leggat / Ms Katy Birkin Tel: +44 (0) 20 3470 0470

SP Angel Corporate Finance LLP (NOMAD and Broker) [email protected]

Richard Greenfield / Alexandra Carse Tel: +44 (0) 20 7647 2800

GMP Securities Europe LLP (Joint Broker)

[email protected]

Mr Dominic Barretto / Ms Anna Legge Tel: +44 (0) 7747 788 221

Yellow Jersey PR Limited (Financial PR)

[email protected]

Follow us on twitter @SolGold_plc

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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: [email protected]Website: www.solgold.com.au

Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001

Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000

NOTES TO EDITORS

SolGold is a Brisbane based, AIM‐listed (SOLG) copper gold exploration and development company with assets in Ecuador, the Solomon Islands and Australia. The Company's objective is to create substantial shareholder value by discovering and defining world‐class copper‐gold deposits. SolGold's Board and Management Team have significantly vested interests in the Company as well as strong track records in the areas of exploration mine development, investment, finance and law.
Cascabel, the Company's flagship copper‐gold porphyry project, is located in North West Ecuador on the under‐explored northern section of the richly endowed Andean Copper Belt. SolGold owns 85% of ExploracionesNovomining S.A. ("ENSA") and approximately 11% of TSX‐V‐listed Cornerstone Capital Resources, which holds the remaining 15% of ENSA, the Ecuadorian registered company which holds
100% of the Cascabel concession. To date the Company has completed geological mapping, soil sampling programme, 14km2 and 9km2 Induced Polarisation and Magnetotelluric "Orion" survey at the Alpala target and Aguinaga target respectively. Diamond drilling continues.
In Queensland, Australia the Company is evaluating the forward exploration for the Mt Perry, Rannes and Normanby projects. Joint venture agreements are still being investigated with the strategy for the joint venture partner to commit funds and carry out exploration to earn in interest in the tenements.
In the Solomon Islands, SolGold holds three tenements; Kuma, Lower Koloula and Malukuna. Results for the soil and rock sampling program from the Kuma tenement are being interpreted to determine the next stage of exploration.
SolGold's Board includes accomplished professionals with strong track records in the areas of exploration, mine development, investment, finance and law. Board and Management have significantly vested interests in the Company, holding approximately 14% of its issued share capital.
SolGold is based in Brisbane, Queensland, Australia. The Company listed on London's AIM Market in
2006, under the AIM code 'SOLG' and currently has a total of 685,745,030 fully paid ordinary shares,
12,820,000 options exercisable at 50p, 12,730,000 options exercisable at 28p and 9,730,000 options exercisable at 14p.

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward‐looking statementsinvolve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward‐looking statements. Accordingly, you should not rely on any forward‐looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward‐looking statements.

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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: [email protected]Website: www.solgold.com.au

Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001

Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000