San Lorenzo Gold Corp. provided additional information on the Tres Amigos target located on its Salvadora Property. San Lorenzo has identified six individual targets on Salvadora.

Two of them - Tres Amigos and Cerro Blanco - are the highest priority targets for additional exploration efforts to commence immediately. Surface soil geochemical sampling has shown that the whole Tres Amigos target area exhibits strong anomalous copper values - greater than 300 ppm within which two 1 - 1.5 sq km areas average 0.2 - 0.28% Cu in soils. Mineralized outcrop and float samples from the two sectors returned values of 0.3 - 5.6% Cu and anomalous gold values from 0.174 - 4.14 g/t Au.

With widths of up to 200 meters evident on Tres Amigos from historical workings, the two limited drilling programs completed to date have so far confirmed mineralized widths below surface of up to 60 meters in the high-grade copper-gold-silver rich epithermal vein system (grades of 0.47 - 5.71 % Cu, 0.17 - 0.25 g/t Au and 3.1 - 26.9 g/t Ag were obtained). That drilling, at less than 100 meter depths, only tested upper oxide material such that the system remains open at depth. Results to date support management's opinion that additional exploration, including drilling along the additional width, strike, and depth of the system has the potential to define a many-million-ton bulk mineable deposit within the Tres Amigos Target.

Prior Workings. As recently as 2006, mining in the Tres Amigostarget occurred from a spiral decline from which high grade oxide ore - up to 14% Cu - was extracted - from a mine known as the "La Fortuna". Reported grades have been supported by mine face sampling conducted by San Lorenzo which showed copper grades of 2.5 - 14.75% copper across 1.8 - 4.1 meter widths.

Immediate Next Steps - IP. San Lorenzo intends to immediately acquire the additional IP coverage by completing the (yellow) lines outlined above. San Lorenzo is hopeful that the additional coverage will identify anomalies in the larger northern and northwestern sector of the Tres Amigos Target underlying the areas of numerous high Cu-Au rich surface samples.

IP will provide deeper penetration that should highlight zones of copper-rich sulphides beneath near surface oxides. Follow-Up Next Steps - Drilling. San Lorenzo expects to commence a drilling program on both the Tres Amigos and the Cerro Blanco target areas during Third Quarter 2024.

While the locations on the Cerro Blanco target have largely been decided upon, the location of drill holes on the Tres AmigOS target remains dependent on the upcoming IP program. The Salvadora Property Generally. Significant surface soil and rock samples that are highly anomalous in copper and gold, together with the significant grades obtained by San Lorenzo from drilling on the Tres Amigo target (and on the nearby Arco de Oro and Caballo Muerto targets) continues to affirm to management of San Lorenzo the existence of several hydrothermal systems that have mineralized the Salvadora property.

This observation is further supported by the numerous artisanal workings evident on the Salvadora property. The Arco de Oro Target - Further Details to be provided within approximately 2 weeks.