Amended: San Lorenzo Expands Land Position at Salvadora's Cerro Blanco Target

Executive Summary

• San Lorenzo Gold Corp. significantly expanded its land position at the Cerro Blanco target on its Salvadora property in Chile by adding 2,900 hectares through a combination of acquiring delinquent claims and entering into an option agreement with Mirasol Resources Ltd.
• The expansion includes the acquisition of 900 hectares of previously delinquent claims (now 100% owned by San Lorenzo) and a 2,000-hectare option on the Rubi Project, which is contiguous to existing claims and shares similar porphyry characteristics.
• The company provided an update on drilling activities at Cerro Blanco, highlighting three drilled holes with significant gold and copper intercepts, and outlined plans for future IP surveys and drilling to extend the strike length of the mineralized system.

Key Details

• Land Expansion Details:
  • Total new acreage: 2,900 hectares.
  • Additional Claims: 900 hectares acquired from Mirasol (previously 100% owned by Mirasol, now 100% owned by San Lorenzo). These were delinquent claims acquired during 2025. San Lorenzo grants a 0.5% NSR to Mirasol on these claims.
  • Rubi Project Option: 2,000-hectare option agreement with Mirasol Resources Ltd. for the Rubi Project, a large-scale porphyry target.
• Rubi Project Option Terms:
  • Initial Payment: US$50,000 cash paid upon signing the binding Letter of Intent.
  • Scheduled Payments (to earn 70% interest):
    • Signing Date: $100,000.
    • 1st Anniversary: $100,000.
    • 2nd Anniversary: $100,000.
    • 3rd Anniversary: $1,250,000.
    • Total Scheduled Payments: $1,550,000.
  • Minimum Expenditure Commitments:
    • Year 1: $150,000.
    • Year 2: $150,000.
    • Year 3: $350,000.
    • Total Minimum Expenditures: $650,000.
  • Additional Acquisition Options (to acquire remaining 30%):
    • Option to buy 15%: $1,750,000 by end of 54th month.
    • Option to buy final 15%: $2,250,000 by end of 72nd month (resulting in 100% ownership).
  • Royalties: Mirasol retains a 2% NSR on the Option Agreement lands.
    • Buy-down to 1.5% NSR: $2,000,000 within one year of exercising the second 15% purchase option.
    • Buy-down to 1.0% NSR: $2,000,000 within one year of commercial production commencement.
• Cerro Blanco Drilling Update:
  • Hole SAL 01-24:
    • Intercept A: 153.5m at 1.04 g/t Au, 1.0 g/t Ag, 0.05% Cu (from 229.0m to 382.5m).
    • High-grade interval: 3.8m at 12.78 g/t Au, 6.5 g/t Ag, 0.51% Cu (from 331.7m to 335.5m).
  • Hole SAL 02-24:
    • Intercept A: 32.3m at 0.29 g/t Au, 0.3 g/t Ag, 0.03% Cu (from 98.8m to 131.1m).
    • Intercept B: 22.0m at 0.26 g/t Au, 0.3 g/t Ag, 0.06% Cu (from 143.1m to 165.1m).
    • Intercept C: 85.7m at 1.02 g/t Au, 0.3 g/t Ag, 0.06% Cu (from 179.0m to 264.7m).
      • High-grade interval within C: 67.7m at 1.15 g/t Au, 0.2 g/t Ag, 0.06% Cu (from 179.0m to 246.7m).
      • High-grade interval within C: 4.0m at 8.14 g/t Au, 0.5 g/t Ag, 0.16% Cu (from 183.1m to 187.1m).
    • Intercept D: 28.0m at 0.18 g/t Au, 0.2 g/t Ag, 0.02% Cu (from 276.7m to 304.7m).
  • Hole SAL 04-25: Drilled on an in-fill IP line; results not yet released in this text.
  • Future Plans: A fourth hole is planned to test the strongest IP conductivity/resistivity anomaly but is delayed due to terrain; scheduled for near future. Additional IP program planned north and south of existing lines, followed by drilling to extend strike length and confirm sub-vertical mineralization.
• Surface Sampling: Follow-up to 2011/2012 programs currently underway to infill prior sampling grids around the litho-cap feature.

Notable Quotes

• Terence Walker, VP of Exploration: “We are excited to continue our Cerro Blanco exploration efforts 1.7 km north-eastward to the river valley floor where significant alteration is visible. This acreage addition now allows us to continue southward as well where another surface litho-cap feature is present. This is because we now have 6 km of N/S strike length compared to the 2 km of N/S strike length previously.”
• Terence Walker, VP of Exploration: “We have long been in possession of surface geo-chem that consists of continuous rock chip samples over and around the litho-cap feature. They strongly support the IP anomalies we have drilled at Cerro Blanco. We look forward to the results of this expanded and detailed surface sampling grid.”