Sonora Gold Corp.

Sonora Gold Corp.

March 23, 2006 00:15 ET

Sonora Gold Corp. Sells Santa Gertrudis & Roca Roja Claims for US $3,050,000.00

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2006) - Sonora Gold Corp. (the "Company") (TSX VENTURE:SGG)(PINK SHEETS:SGGFF) announces that it has entered into a Letter Agreement whereby the Company's Santa Gertrudis and Roca Roja claims are included in a proposed sale of the Company's wholly owned Mexican subsidiaries (First Silver Reserve S.A. de C.V. and Recursos Escondidos S.A. de C.V.). Sonora Copper LLC, a private United States registered corporation with experience exploring and developing properties in Mexico, has proposed to purchase these assets from the Company. The terms of consideration payable to the Company includes both a cash and stock component, outlined below. The closing of the Letter Agreement is scheduled for May 17, 2006 upon approval of the transaction by the shareholders of the Company at the Company's Annual and Special Meeting on May 11, 2006. This Agreement is also subject to regulatory approval.

Agreement terms consist of the following:


-A US $100,000.00 non-refundable deposit on signing of the Letter Agreement;

-A US $900,000.00 payment on closing of the agreement;

-A US $1,025,000.00 payment three months after the closing of the agreement;

-A US $1,025,000.00 payment six months after the closing of the agreement;

Should any of the payments not occur as scheduled, the entire property and subsidiary companies will revert back to the Company.


In the event that Sonora Copper LLC becomes a public company trading on a recognized stock exchange or OTC market in the U.S. or Canada within two years of the closing date, the Company will receive a 24-month warrant to purchase up to the lesser of 1,000,000 shares or 5% of the fully diluted capital of such public company. The cost of the warrants to the Company will be the lesser of US $0.40 per share or the price at which Sonora Copper LLC achieves its initial public listing.

This sale does not include the San Enrique Option Lands in which Minera Teck Cominco is currently earning an interest by expending up to US $7,000,000 to earn a maximum of 70% of the property. The San Enrique claims are an approximately 8500 hectare Copper Molybdenum and Gold prospect, with several anomalies identified by geophysical interpretation, drilling and sampling. Minera Teck Cominco is currently working on ground surveying, additional sampling, and additional geophysical study in preparation for a second round of drilling on the San Enrique Option Lands.

The Company is also continuing to investigate potential new resource exploration opportunities.

On Behalf of the Board

Dave McMillan, President & C.E.O.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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