June 7, 2023 – TheNewswire - Calgary, Alberta – The trading of Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV:SNV) (NEX:SNV.H) common shares on the NEX was halted on May 31, 2023. As previously announced, Sonoro has recently executed a farm-in agreement on lands in the Western Canadian Sedimentary Basin (“WCSB”). The transaction is deemed to be a Fundamental Acquisition by Sonoro and as a result Sonoro is following TSXV Policy 5.3.  

As per TSXV requirements, trading of the shares were halted and will remain halted until receipt of a satisfactory Geological Report in connection with Sonoro's acquisition of the 70% working interest in assets pursuant to the farm-in arrangement is completed, submitted and approved by the Exchange. The report is being prepared by GLJ in Calgary.

Sonoro is in the final stages of completing the Geological Report and will submit the report to the TSXV for their consideration and potential approval of the requirements outlined in Policy 5.3. Submission of such report to the Exchange is expect before June 9, 2023. At the same time, Sonoro has requested graduation of the trading of the common shares back to the TSXV.

Sonoro has requested to the TSXV that trading of the common shares resume subsequent to approval of the Geological Report.

Further updates will be provided if events change.

Forward-looking Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates," "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this news release contains forward-looking information regarding the opportunities discussed.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward-looking statements contained in this news release are made as of the date of this news release and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information to participate in future financing, please contact the company at:

For further information to participate in future financing, please contact the company at:

Sonoro Energy Ltd.

info@sonoroenergy.com

or

 +1.403.262.3252                      

This press release is not to be disseminated in the United States