Mr. Michael Wood reports

SENDERO RESOURCES ANNOUCES TRADING DEBUT, PROVIDES EXPLORATION UPDATE

Sendero Resources Corp. commenced trading today on the TSX Venture Exchange under the symbol SEND. Sendero is pleased to provide both an overview of the newly listed company and an exploration update.

Sendero Resources key highlights:

• The Penas Negras project is located in the prolific Vicuna District, surrounded by world-class super giant discoveries owned by Filo Mining, Lundin Mining, and NGEx Minerals. The project is 100% owned, district-scale project with excellent access and logistics; synergies with adjacent projects.
• Three drill-ready copper-gold porphyry targets: La Pena, Cerro Verde South, & Tamberias.
• Outstanding in-country technical team with vast experience in the Andes, led by Hernan Vera, former VP of Barrick Argentina Porphyry, and Andean Expert David Royle as Chief Technical Advisor.
• Extensive historic work including 12.7km of drilling including 30m of 1.84 g/t AuEq and 106m of 0.66 g/t AuEq.
• Fully funded to drill with $5.9M CAD cash (RTO raise completed April 2023) and 65M shares outstanding, 33% being owned by insiders.

Sendero Executive Chairman, Michael Wood, commented:

"We are delighted to announce Sendero Resources' listing for trading on the TSX Venture Exchange, marking a pivotal milestone in our journey.

Sendero's Flagship property Penas Negras is located in the Vicuna District, one of the hottest exploration districts in the world, which is home to Filo Del Sol, Josemaria and Los Helados. Penas Negras exhibits similar geological characteristics to the major deposits in the district and we are very excited about advancing the property over the coming years.

Investors can expect consistent news flow over the coming months as we lead up to drilling at Penas Negras starting in January 2024."

2023 Exploration

Exploration activities to date have enabled the Company to complete an integrated exploration targeting study for the Company's Penas Negras Project, located in the highly prospective Vicuna Belt (Figure 1). The key outcome of this study is the initial ranking and prioritization of the exploration targets across the Penas Negras Project. Three priority drill-ready porphyry copper-gold targets have been selected for initial drilling, these targets are La Pena, Cerro Verde South and Tamberias - with drilling scheduled to start at these targets in January 2024.

Background

Sendero is embarking on a modern, rigorous, and comprehensive exploration program across the 120 km Superscript 2 Penas Negras Project. This is the first time this land package has been consolidated under one company. The Company has recently completed an integrated targeting study based on key ingredients for significant porphyry copper-gold and associated epithermal gold-silver deposits. Many of the key geological, geochemical, and geophysical features seen at other deposits in the Vicuna Belt, such as Filo del Sol and Josemaria deposits are replicated in the Penas Negras exploration target areas.

Primary targeting criteria for the identification of this specific geological environment are:Host Rocks: Miocene volcanics and porphyry intrusions, conglomerates and Permo-Triassic basement rocks.Structure: NE, N-S and NW primary control on structures. Structures in the area have focused the ascent of magmatic bodies and the emplacement of hydrothermal alteration and mineralization systems.Alterations: large hydrothermal alteration zones of silica, quartz-alunite and sericite-clay. Zoned alteration from potassium to propylitic.Mineralisation: composite telescoped porphyry-epithermal deposits and the presence of A-type and B-type quartz veinlets.Geochemistry: soil and rock geochemistry define mineralisation with coincident anomalous Au-Cu-Mo.Geophysics: magnetic surveys help to define structures and intrusive bodies while IP chargeability may play a role as a sulphide distribution mapping tool.

All available geological, geochemical, and geophysical data using the extensive project database was used to compile a matrix which identified and prioritized multiple exploration targets across the Penas Negras Project (Figure 2 and Table 1). Of these, 3 targets are categorized as priority and are drill-ready: La Pena, Cerro Verde South (CVS1) and Tamberias.

Table 1. Penas Negras Priority Exploration Targets

La Pena

Results of the 2023 program including geological mapping, talus fines and rock sampling have highlighted the prospectivity of the La Pena target (Figure 2). In the center of the area, a Miocene diorite porphyry, exposed on a prominent hill, cuts Permo-Triassic basement granite and Oligocene-Miocene volcanics. The structural setting shares similarities to Filo del Sol and Josemaria deposits with the porphyry body confined to a north-south structural corridor with cross-cutting NW and EW faults (Figure 3).

Well zoned hydrothermal alteration is present with a potassic (K-feldspar-biotite) core grading outwards to a green rock (chlorite-epidote) halo coinciding with the exposed diorite porphyry (Figure 3). Classic porphyry quartz-magnetite vein stockworks (>10%) coincide with the potassic alteration zone. This is accompanied by disseminated pyrite and chalcopyrite with minor copper oxides and carbonates. The presence of sulphides at depth is supported by a strong historical IP changeability anomaly.

Another very positive feature of La Pena is a strong Cu-Au-Mo geochemical anomaly (measuring 1.2 x 0.5Km) in soils and rocks that coincide with a bull's eye magnetic high.

La Pena is ranked as the best priority drill target in the portfolio due to:the remarkable coincidence and intensity of all the favorable geological, geochemical and geophysical features typical of Andean Cu-Au porphyry deposits andthe apparent optimum level of erosion exposing the mineralized system just above the interpreted high-grade Cu-Au zone.Figure 3. La Pena Target: Geology and Copper Geochemistry

Cerro Verde South

In the Cerro Verde South area is a cluster of porphyry and epithermal targets focused within and around a prominent circular structure filled with Miocene andesitic volcanics and intruded by dacite, andesite and micro diorite porphyry (Figure 4). These targets have similar characteristics to other deposits in the Vicuna Belt.

Recent ionic leach soil geochemical results have highlighted two high priority standout drill-ready targets:Cerro Verde South (CSV1) Target: Extensive porphyry related alteration coincides with a major magnetite-quartz stockwork zone. In the same area highly anomalous Cu-Au-Mo with a peripheral Zn-Pb-Cd halo was defined by in ionic leach and talus fines geochemistry. These favourable features also coincide with a magnetic high that may indicate an intrusive body at depth. The target has not been previously drilled.Tamberias: The main central porphyry target, located in NNE structural corridor, comprises an outcropping diorite porphyry with classic porphyry style quartz-magnetite veining. Pervasive hydrothermal alteration is zoned from a potassic core overprinted chlorite-epidote plus or minus actinolite. The area shows anomalous Cu-Au-Mo geochemistry in Ionic Leach soils and peripheral Zn-Cd-Pb on the western side of the target. A magnetic high anomaly coincides with the central copper-gold anomaly and quartz vein stockwork zone with a moderate IP chargeability anomaly extending to the north and partially surrounds the magnetic anomaly. Approximately 500m to the north of the main porphyry target is a zone of intermediate sulfidation epithermal veins with highly anomalous Au, Ag, As and Te. Tamberias represents a valid untested drill target and has all the hallmarks of a high-level, telescoped Cu-Au porphyry system.Figure 4. Cerro Verde South and Tamberias Targets with Alteration Zones

Other Target Areas

The targeting study has also confirmed the prospectivity of other target areas including porphyry Cu-Au potential at La Ollita, Cerro Verde North, CVS2 and CVS3. In addition, epithermal Au-Ag potential exists at La Ollita, Tamberias North and Ritzuko.

Exploration - Next Steps

Several programs are in progress or planned:Detailed ground magnetic and selected IP surveys at La Pena, Cerro Verde South and Tamberias.Trenching to expose geology at Cerro Verde South and Tamberias.Ionic leach sampling at Cerro Verde South (CVS3), Cerro Verde North and La Ollita.4,500m of Diamond drilling is planned at La Pena, Cerro Verde South (CVS1) and Tamberias.

About Sendero Resources Corp.

The Company is focused on copper-gold exploration at its 100% owned Penas Negras Project in the Vicuna Belt in Argentina. The Penas Negras Project has similar geological characteristics to other deposits in the Vicuna Belt and a cluster of porphyry and epithermal targets have been identified on the project. The Company, through its wholly owned subsidiary, Barton SAS, is the holder of ten mining concessions covering 120 km2 in the province of La Rioja, Argentina. The Company has an experienced management and exploration team who will use their expertise and operational knowledge to advance the multiple targets across the project.

Additional information in respect of the Penas Negras Project can be found in the Company's technical report entitled "NI 43-101 Technical Report on the Penas Negras Copper-Gold Project in La Rioja, Argentina", which has been filed on SEDAR+ (www.sedarplus.ca).

Qualified Person

David Royle (FAusIMM (CP)) supervised the preparation of and approved the scientific and technical information pertaining to Penas Negras Project contained in this presentation. David Royle is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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