San Lorenzo Provides Drilling Update from Cerro Blanco Target, Salvadora Project, Chile

The most recent news, dated November 3, 2025, provides an update on the drilling program at the Cerro Blanco porphyry target on the Salvadora Project in Chile. The company reports that the first hole of the current program, SAL 04-25, was completed to a depth of 485 meters on October 29, 2025. Visual observations from the drill core indicate that the hole intersected mineralization that correlates with previously identified IP (Induced Polarization) chargeability anomalies. Assay results for SAL 04-25 are currently pending. The news release references prior significant results from the Cerro Blanco target (specifically, 153.5 meters grading 1.04 g/t gold from hole SAL 01-24, reported on March 3, 2025).

Additionally, the release includes an administrative clarification regarding the company's attendance at the 51st Annual New Orleans Investment Conference. It states that management will be attending the conference but will not be presenting, correcting a previous announcement from October 30, 2025, which indicated that CEO Al Kroontje would be presenting.

The completion of the first drill hole (SAL 04-25) at Cerro Blanco is a positive operational update, signaling continued progress on the previously announced exploration program. The visual observation of mineralization correlating with IP anomalies is encouraging, as it suggests that the geophysical targeting is effective. However, the lack of assay results means that the economic significance of this intersection is yet to be determined. As the news release itself disclaims, "Visual observations of drill core are not reliable – assaying is required to provide accurate information." Therefore, while the progress is good, it doesn't provide new material data regarding mineralization grades or widths beyond what was already anticipated when drilling commenced.

This drilling update is in line with the company's stated plans. On October 17, 2025, San Lorenzo announced the commencement of drilling at Cerro Blanco. Prior to that, on September 24, 2025, the company stated it was ready for more drilling, specifying a minimum of three holes at Cerro Blanco to test IP anomalies. The current news confirms the completion of the first of these planned holes.

The administrative clarification about the New Orleans Investment Conference is a minor point. The correction from "presenting" to "attending but not presenting" is a retraction of a potentially positive IR event, but it is not material to the company's core exploration activities or financial performance. The primary focus and impact of this news release are on the drilling update, which is a routine and positive development in the company's exploration lifecycle, but not a game-changer without definitive assay results.

San Lorenzo Gold Corp. is a Canadian-based mineral exploration company focused on the acquisition and development of precious and base metal properties in Chile. Its flagship project is the Salvadora Property, located in Region III, Chile, approximately 15 kilometers from the world-class El Salvador copper-gold porphyry deposit and mine, within Chile's prolific megaporphyry belt.

The Salvadora property spans 9,069 hectares and hosts several high-quality target areas:

• Cerro Blanco: A gold/copper porphyry target characterized by a large hydrothermal alteration zone with surficial copper and gold enrichment, coincident with IP chargeability anomalies. It spans approximately a two-by-two-kilometer area and was previously undrilled due to access challenges which have since been resolved. Maiden reconnaissance drilling in early 2025 (SAL 01-24, SAL 02-24, SAL 03-24) returned significant gold intercepts, including a discovery hole with 153.5 meters of 1.04 g/t gold.
• Arco de Oro: An epithermal gold target with a five-plus-kilometer trend of epithermal veining, indicated by surface exposures and numerous small, shallow artisanal workings. Historical mines like Alaska and Santa Cecilia are located within or near this trend, with reported high-grade gold, silver, and copper. Previous drilling by San Lorenzo has intercepted significant gold grades over 1.3 kilometers of strike length and up to 300 meters depth. The system remains open in all directions.
• Tres Amigos: A separate copper-rich epithermal/mesothermal target in the north-central portion of the property. It features swarming vein systems extending to surface, with substantial historical mining. Previous sampling showed high-grade copper with gold, and drilling encountered significant copper intersections. The system is open on strike in both directions and at depth.

The company's exploration strategy involves systematic geophysical surveys (Induced Polarization) and geochemical sampling to define and test drill targets, with a focus on expanding known mineralization and discovering new deposits within the large Salvadora property.