Sendero Resources Announces Non-Brokered Private Placement

Sendero Resources Corp. announced a non-brokered private placement of up to 3,700,000 units at C$0.53 per unit, raising up to C$1,961,000 in gross proceeds. Each unit consists of one common share and one common share purchase warrant. The warrants carry an exercise price of C$0.70 per share and are exercisable for 36 months from issuance.

Net proceeds are designated specifically to fund the first deep drill test at the La Ollita target within the Peñas Negras Project in Argentina. The deep drilling initiative targets an untested root zone of magnetite-destructive alteration extending beneath known mineralization. This financing is additional to the company's existing fully funded 2026–2027 diamond drilling program and does not alter the broader exploration plan.

The placement is subject to TSX Venture Exchange approval, with statutory hold periods expiring four months and one day from closing. Related party participation is permitted, exempt from formal valuation and minority shareholder approval under MI 61-101 as consideration will not exceed 25% of market capitalization. No finder's fees are payable.

Sendero Resources Corp. (SEND) has secured C$1.96 million in financing to fund a deep drill test at its La Ollita property. The capital raise, executed at an issue price of C$0.53, represents a discount to the company’s recent trading range of C$0.60–C$0.80, as well as prior financings that priced shares at C$0.95 in November 2025 and C$1.15 in January 2026. This pricing reflects current market sentiment, the company’s cash constraints, and the dilutive nature of the offering.

The funds are designated specifically for targeted exploration rather than general working capital. This allocation is critical given the company’s financial position, which included C$196k in cash as of Q1 2026 and a quarterly operating burn rate of C$523k. The drill test aims to validate a high-potential target identified by a 3D magnetic model released in October 2026, which highlighted deep fluid pathways and root zones. While the financing extends the company’s exploration runway, it does not introduce new geological data, resource estimates, or strategic partnerships.

Sendero Resources Corp. (SEND) is an exploration-stage copper-gold company focused on the Peñas Negras Project in the Vicuña Belt, located in Argentina’s La Rioja and San Juan provinces. The company holds 100% ownership of a 120 km² land package, with an option to earn a 100% interest in an additional 91.7 km², bringing the total potential land holding to 211.7 km².

The geological model interprets the area as a district-scale magmatic-hydrothermal system with porphyry and high-sulfidation epithermal potential, comparable to nearby operations by Lundin Mining and BHP. Historical drilling has totaled 15,875 m across 80 holes, predominantly shallow, with half of the holes stopping within 150 m of surface.

Sendero is currently compiling geophysical, geochemical, and historical data to build a camp-scale integrated geological model and prioritize drill targets. No resource estimates, reserve calculations, or economic studies are provided. The project benefits from proximity to major district infrastructure and the Argentine RIGI regime, which offers long-term tax and regulatory stability for large mining investments.