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Planned leadership transition positions the Company for its next phase of growth as Cerro Blanco drilling commences and a major new IP anomaly further expands the San Juan–Arco de Oro target

CALGARY, Alberta – TheNewswire - August 4, 2026 – San Lorenzo Gold Corp. ("San Lorenzo" or the "Company") (TSXV: SLG) (OTCQB: SNLGF) is pleased to announce the appointment of Brandon Gaspar as Chief Executive Officer and Director, effective September 1, 2026, as the Company enters its next phase of district-scale exploration at Salvadora. Co-founder Al Kroontje will transition from Chief Executive Officer to Executive Chair, maintaining strategic oversight and leadership continuity. With approximately C$23 million in cash, a fully permitted 20-hole drill program commencing at Cerro Blanco, a second rig planned for Arco de Oro and expanded geophysical and geochemical programs underway across Salvadora, the Company is positioned to materially accelerate exploration across the district.

Key highlights

• Brandon Gaspar appointed Chief Executive Officer and Director to lead San Lorenzo’s next phase of accelerated exploration.  

• Al Kroontje transitions to Executive Chair and Terry Walker continues as Vice President of Exploration , ensuring leadership and technical continuity.  

• Fully permitted 20-hole Cerro Blanco drill program commencing , with access roads and drill pads complete.  

• New IP northwest of San Juan identifies an approximately 1.2 km-wide chargeability anomaly , materially expanding the priority target area. Chargeability values on new IP D9 materially exceed those observed on IP D8, suggesting that the chargeable system strengthens and represents a northwest extension of the feature tested by SAL 09-25 and SAL 10-25 on IP D8.  

• Expanded IP and geochemical programs advancing targets across Cerro Blanco, Rubi and the broader San Juan–Arco de Oro trend.  

Leadership Transition

Mr. Brandon Gaspar has been appointed as the CEO of San Lorenzo with an effective date of September 1, 2026.  Mr. Gaspar will also be appointed to the board of directors of San Lorenzo (the “Board”).  The appointment of Mr. Gaspar marks a planned leadership transition as the Company enters its next phase of growth.  Under Mr. Gaspar’s leadership, San Lorenzo will continue to focus on advancing the district-scale Salvadora Project in Chile through systematic exploration, disciplined capital allocation and long-term value creation.

Concurrently with Mr. Gaspar's appointment, Company co-founder Al Kroontje will transition from Chief Executive Officer to Executive Chair.  In his new role, Mr. Kroontje will continue to lead the Board, provide strategic oversight and work closely with management to ensure a seamless leadership transition while remaining a significant shareholder with no intention of disposing of any of his shares in the Company.

The Company's technical leadership in Chile remains unchanged, with co-founder Mr. Terry Walker continuing to lead exploration as Vice President of Exploration. Together with the experienced La Serena-based technical team, San Lorenzo's leadership combines decades of Chilean exploration and operating expertise with global corporate strategy and capital markets experience, positioning the Company to unlock the full potential of the district-scale opportunity at Salvadora.

Al Kroontje commented:

" When the Board began planning for San Lorenzo's next phase of growth, we sought a leader who combines technical expertise, operational mining experience and capital markets insight. Brandon's career spans both mine operations at a major gold producer and senior mining capital markets roles, giving him a distinct perspective on building successful exploration companies and driving long-term shareholder value. With multiple discoveries, a strong treasury, an exceptional strategic land package and an experienced technical team led by Terry Walker, San Lorenzo is exceptionally well positioned for this next stage of growth. As Executive Chair, I remain fully committed to the Company and look forward to supporting Brandon and the Board as we continue creating value for our shareholders.”

Brandon Gaspar, Chief Executive Officer, commented:

"Having evaluated exploration and development opportunities across the global mining industry throughout my career, I recognized that Al, Terry and the San Lorenzo team have assembled one of the most compelling district-scale exploration opportunities I have encountered. District-scale land holdings adjacent to a producing mine, existing infrastructure, a strong balance sheet and a demonstrated track record of greenfield discovery success are rarely found together. That unique combination is what attracted me to San Lorenzo and gives me tremendous confidence in the opportunity ahead.

Our focus now is execution. We will build on the outstanding technical foundation established by Terry and his team by accelerating exploration across the Salvadora district with urgency, discipline and technical excellence. Every metre we drill aims to improve our understanding of the district, systematically test its highest-priority targets and continue demonstrating its scale.

Success in exploration is earned through the drill bit. By combining disciplined technical work with responsible capital allocation and stronger engagement with the global investment community, we have a unique opportunity to build one of Chile's premier exploration companies and create significant long-term value for our shareholders.

I would like to thank Al, Terry and the Board for their confidence, and I look forward to working alongside the entire San Lorenzo team as we continue advancing the Salvadora district and building one of Chile's leading exploration companies. "

About Mr. Gaspar

Mr. Gaspar is a Professional Geoscientist (P. Geo.) with over 15 years of mining industry experience spanning mine operations, mineral exploration, corporate strategy and capital markets. Most recently, Mr. Gaspar served as Head of Research, North America at SCP Resource Finance (formerly Sprott Capital Partners), a leading specialist mining investment bank. In addition to leading the firm's North American mining research platform, he has worked closely with executive management teams, boards of directors and institutional investors on corporate strategy, technical due diligence, equity financings, strategic investments and mergers and acquisitions across the global mining industry .  Prior to SCP, Mr. Gaspar held mining equity research positions at BMO Capital Markets. Before transitioning to capital markets, he spent nearly a decade with Goldcorp Inc. at the Red Lake Gold Mines, holding progressively senior operational and technical roles. Mr. Gaspar holds a Bachelor of Science (Honours) in Geology from Lakehead University and an MBA from Alliance Manchester Business School in the United Kingdom.  

Exploration Update

Induced Polarization (“IP”) Program

A substantial IP program is underway across the Arco de Oro and Cerro Blanco targets at San Lorenzo’s flagship Salvadora property in Chile’s mega-porphyry belt. To date, IP has proven effective in identifying priority drill targets at Salvadora, including at San Juan, where holes SAL 09-25 and SAL 10-25 intersected porphyry-style mineralization within the line D8 anomaly (See SLG news releases dated May 8 th and June 4 th , 2026). The current program is designed to expand coverage and guide the next phase of drilling and includes:

• significantly expanding IP coverage across Cerro Blanco, including southward over the recently acquired Rubi lands, which contain a second prominent litho-cap feature; and  

• expanding IP coverage 1.5 km northwest along strike at Arco de Oro, beyond the San Juan area tested by SAL 09-25 and SAL 10-25.  

At Arco de Oro, IP line D9 has now been completed and lines D10 and D11 are in progress, extending IP coverage approximately 1.5 km northwest of line D8.  Results from line D9 have been received, with results from lines D10 and D11 expected shortly.  The Company also plans to extend lines D5 through D7 to the northeast to further evaluate the broader Arco de Oro system.

Figure 1:  IP Lines D8 – D11 Location Map

Click Image To View Full Size

Major Chargeability Anomaly Identified on Line D9

Line D9, a direct offset northwest of line D8, has identified a large and intense chargeability anomaly measuring approximately 1.2 kilometres in width (Figure 2 below).

The anomaly appears to represent a northwest extension of the feature tested by SAL 09-25 and SAL 10-25 on IP line D8. Chargeability values on D9 materially exceed those observed on D8, suggesting that the chargeable system strengthens and expands to the northwest.

The width, intensity and apparent continuity of the D9 response materially expands the priority target area along the San Juan–Arco de Oro trend and reinforce the need for significant follow-up drilling.

Click Image To View Full Size

Figures 2 and 3: IP Lines D9 (top) and D8 (bottom)

Commenting on line D9, Terry Walker, Vice President of Exploration, said: “ At 1.2 km of width, the anomaly observed is huge and intense with mV/V values far exceeding those observed on line D8 where drilling returned strong mineralization in porphyry alteration. It appears that the anomaly observed on line D9 is a direct strike extension to the feature drilled on line D8.  With the anomalies merging, a large system is suggested.  This opportunity demands further drilling on the most expeditious timeline possible ”.

Taken together, the mineralized drilling on line D8 and the stronger, broader chargeability response on line D9 suggest that the system extends materially northwest from San Juan. Results from lines D10 and D11 will help define the scale and continuity of the target as the Company finalizes plans for a significant follow-up drill program.

Grant of Incentive Stock Options

In connection with his appointment, the Company has granted Mr. Gaspar 525,000 incentive stock options, exercisable at $4.75 per common share pursuant to the Corporation’s rolling stock options plan.

About San Lorenzo

San Lorenzo is focused on advancing its flagship Salvadora property located in Chile’s mega-porphyry belt.  Drilling results at Salvadora - from 4 different targets so far - have convinced management that several gold and copper enriched epithermal and/or porphyry style systems may be contained within the Salvadora property.

ON BEHALF OF THE BOARD OF DIRECTORS

Al Kroontje

For further information, please contact:

Brandon Gaspar                                                Al Kroontje

Email:        bgaspar@slgold.ca                                         Email : al@slgold.ca

Terence Walker                                                        Acuity Advisory Group

Email: gspd.tw@gmail.com                      Email: info@acuityadvisorycorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Information

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of San Lorenzo.  All statements included herein other than statements of historical fact are forward-looking information Such forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, San Lorenzo does not assume any obligation to update or revise them to reflect new events or circumstances.

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