Mr. Michael Wood reports

SENDERO RESOURCES MOBILIZES FOR DRILLING AT PENAS NEGRAS

Sendero Resources Corp. has started mobilization for drilling at its Penas Negras project on the Vicuna belt in La Rioja, Argentina.

Highlights:

• Drilling to commence in the first half of January, 2024, with an initial 4,500 metres of diamond drilling;
• Three priority drill-ready porphyry copper-gold targets have been selected for initial drilling -- La Pena, Tamberias and Cerro Verde South -- all of which are untested by drilling;
• The La Ollita target has been upgraded to high-priority following continuing targeting studies and revised ranking;
• 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 Sendero's priority drill targets.

Sendero executive chairman Michael Wood commented: "We are fully funded and permitted to begin Sendero's initial drilling at Penas Negras. The drill targets we have would be very promising anywhere in the world, but the fact that they are also located in the emerging Vicuna district with Vicuna-style characteristics makes them incredibly exciting. The locations of the first holes at La Pena, Tamberias and Cerro Verde South have been finalized, with drilling to start at La Pena. Ongoing ground-based magnetic and IP [induced polarization] surveys at La Ollita will help refine optimum drill sites at that target. We are also encouraged by the upside resource potential of the epithermal gold system at La Ollita".

La Pena target

La Pena has many typical features of Andean copper-gold porphyry deposits. The mineralized system is exposing at an optimum level of erosion, just above the interpreted high-grade copper-gold zone. Favourable features of the exposed diorite porphyry are intense potassic alteration, stockwork magnetite-quartz veining, and the presence of copper sulphides and oxides. Two initial holes are programmed at La Pena.

Tamberias target

Tamberias comprises an outcropping diorite porphyry with classic porphyry-style quartz-magnetite veining. Pervasive hydrothermal alteration is zoned from a potassic core overprinted chlorite-epidote. The area shows copper/gold/molybdenum geochemistry and peripheral zinc/cadmium/lead in ionic leach and conventional soils coinciding with a magnetic high and a quartz vein stockwork zone. Trenching to the east of the outcropping diorite porphyry has revealed a breccia zone with strongly anomalous gold/copper/silver geochemistry in channel sampling and extensions of the diorite porphyry under the cover with fresh sulphides, mainly pyrite and minor chalcopyrite and chalcocite.

Cerro Verde South target

At Cerro Verde South, there is extensive porphyry-related alteration coincides with major magnetite-quartz stockwork zones. In the same areas highly anomalous copper/gold/molybdenum with peripheral zinc/lead/cadmium halos have been defined by ionic leach, talus fines and conventional soil geochemistry. These favourable features also coincide with magnetic highs.

Two drill holes are initially programmed for the south target within Cerro Verde South, where intense stockwork veining in dacite and diorite porphyries has been observed. This coincides with the zone of geochemical anomalies and strong magnetism. The area known as the green whale has shown significant potential for hosting an economic porphyry system due to the presence of high-density quartz-magnetite veining with associated breccias linked to known copper-gold mineralization in historical drilling. A third drill hole is programmed into the green whale target.

La Ollita

The La Ollita target has been upgraded to high priority following continuing targeting studies and revised ranking. Reassessment of historical Eldorado Gold drilling conducted in the mid-1990s revealed that several deeper holes (250 to 300 metres) intersected quartz diorite porphyry toward the bottom of the holes associated with quartz-magnetite stockwork veining and potassic alteration. Some of the holes ended in highly anomalous copper and gold values, including drill hole PNR 33 returning 10 metres at 0.79 gram per tonne gold and 1,400 parts per million copper from 260 metres. The holes with quartz diorite porphyry coincide with a gradient IP chargeability anomaly measuring approximately 500 metres by 800 metres.

Overlying and extending laterally away from the porphyry centre is an epithermal vein overprint associated with pervasive phyllic alteration (quartz/sericite/pyrite/clay). Many of the near-surface Eldorado Gold drill holes returned highly anomalous gold grades (0.5 gram per tonne to 3.0 grams per tonne) over potentially minable widths.

IP and ground magnetic surveys are currently being completed, along with ionic leach geochemical soil sampling, with the aim of refining the porphyry centre(s) below the known epithermal system and selecting optimum drill targets.

About Sendero Resources Corp.

The company is focused on copper-gold exploration at its 100-per-cent-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 10 granted mining concessions covering 120 square kilometres in the province of La Rioja, Argentina. The company has an experienced management and exploration team that will use its expertise and operational knowledge to advance the multiple targets across the project.

Qualified person

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

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