Sendero Resources Completed $4.06 Million Brokered Financing

On December 3, 2025, Sendero Resources announced the closing of its previously announced brokered private placement. The company issued 4,280,053 common shares at a price of $0.95 per share for gross proceeds of $4,066,050. The proceeds will be used to fund exploration work at the company's Peñas Negras project in Argentina, as well as for general administrative and working capital purposes.

Notably, the financing saw participation from Sendero's "Foundational Investing Group," including Peter Marrone, Pat DiCapo, and Eduardo Elsztain. The CEO stated that the strengthened balance sheet positions the company to "aggressively advance" its planned 2026 exploration drill program.

The closing of this financing is a material and positive event for Sendero Resources. While the financing was announced in November and thus largely anticipated by the market, the confirmation of its closing officially removes the significant near-term financial risk that faced the company.

Key impacts are: - Fully Funded for Pivotal Exploration: The $4.06 million raised is sufficient to fund the company's planned 3,600-metre Phase 2 drill program, which is scheduled to begin in Q1 2026. This program will test a new, undrilled porphyry target that the company's geological team identified after a comprehensive data review. The company's future valuation is almost entirely dependent on the success of this upcoming drill program. - Strong Strategic Endorsement: The participation of the Foundational Investing Group, led by respected mining executive Peter Marrone, is a powerful vote of confidence in the management team, the Peñas Negras project, and the specific targets for the Phase 2 program. This follow-on investment signals that the key backers who supported the company's restructuring in January 2025 remain confident in its potential. - Favorable Financing Terms: The financing was conducted at $0.95 per share with no attached warrant. This is significantly more favorable than the company's previous financing in December 2024 at $0.12 with a full warrant, demonstrating improved market sentiment and minimizing shareholder dilution.

From a critical, risk-averse perspective, securing capital before a major drill program is a crucial de-risking step. It prevents a scenario where the company might have to raise funds in a weaker position mid-program. The news solidifies the company's operational runway for the next 6-9 months and allows it to focus entirely on execution and discovery.

Sendero Resources is a Canadian-based junior mineral exploration company. Its flagship asset is the 100%-owned Peñas Negras Project, a copper-gold exploration property located in the highly prospective Vicuña Belt in La Rioja Province, Argentina. This belt hosts several world-class discoveries, including Filo del Sol and Josemaria.

The company has completed a Phase 1 exploration program involving drilling and geophysics. After a comprehensive review of all historical and new data, Sendero has developed a new geological model and identified a large, undrilled porphyry target which will be the focus of its upcoming Phase 2 drill program in Q1 2026. The property is subject to a 1% Net Smelter Return (NSR) royalty payable to the provincial state-owned company, EMSE.