Tesoro Minerals Announces a $600,000 Private Placement
Tesoro raises $600,000 CAD to advance its Peruvian gold projects amid steady exploration activities.
Tesoro Minerals Corp. announced a non-brokered private placement on September 3, 2026, targeting gross proceeds of up to $600,000 CAD. The company will issue up to 6,000,000 common shares at a price of $0.10 CAD per share.
Net proceeds are allocated to advancing the Rumichaca and Cerro Macho properties in Peru, covering initial fieldwork, geological mapping, sampling, and induced polarization (IP) ground geophysical surveys. Funds will also support community and social engagement initiatives, alongside general working capital and corporate purposes.
A finder's fee of up to 6% of proceeds may be paid to Haywood Securities Inc., subject to TSX Venture Exchange policies. All issued securities carry a four-month and one-day hold period. Closing is contingent on customary conditions, including TSX-V approval.
Tesoro Minerals Corp. (TES) has completed a standard working capital raise to fund the initial exploration program announced in March 2026. The financing is slightly larger than the February 2026 round, which raised $569,000 at $0.08 per share. This new round is priced at $0.10 per share, representing a modest premium over the previous issuance.
The company issued 6,000,000 shares, resulting in approximately 14.5% dilution on the current share count of 41,444,326. This level of dilution is within typical ranges for junior explorers funding early-stage work. The transaction serves as a funding mechanism to execute the previously announced exploration plan and does not introduce new geological data, drill results, or strategic partnerships.
Tesoro Minerals Corp. (TES) is a pre-revenue mineral exploration company focused on advancing early-stage gold projects in Peru. The company’s flagship assets are the Rumichaca and Cerro Macho properties, which it acquired 100% from Globetrotters Resource Group in March 2026. The Rumichaca property covers 900 hectares, while Cerro Macho spans 2,500 hectares.
Geological assessments indicate that both properties exhibit alteration and geochemical signatures typical of the upper levels of large, high-sulphidation epithermal and porphyry systems. At Rumichaca, advanced-argillic alteration has been identified, with rock sampling returning up to 0.39 g/t Au alongside anomalous copper and molybdenum. Cerro Macho displays silica-alunite alteration, with rock sampling up to 0.42 g/t Au and elevated arsenic and barium.
Neither property has been drilled to date. The current phase of work involves geological mapping, geochemical sampling, and IP/magnetic surveys designed to define drill targets beneath shallow cover. Scott McLean, P.Geo., serves as CEO and Director and is the Qualified Person under NI 43-101.