Mr. Michael Wood reports

SENDERO RESOURCES ANNOUNCES OPTION AGREEMENT TO EXPAND LAND POSITION IN THE VICUNA DISTRICT

Sendero Resources Corp. has entered into an arm's-length option agreement dated March 4, 2024, with Energia y Minerales-Sociedad del Estado (EMSE), the Energy and Minerals State Society of La Rioja, to significantly increase the company's land position in the Vicuna district.

Pursuant to the terms of the option agreement, upon satisfying certain agreed-to financial commitments, Sendero and EMSE would form a joint venture, which would be 80 per cent owned by Sendero, to develop mineral concessions consisting of 9,177 hectares/91.7 square kilometres (joint venture claims) which are directly adjacent to the east of the company's 100-per-cent-owned Penas Negras project, a copper-gold project consisting of 12,000 hectares/120 square km which the company commenced drilling on in January, 2024, with initial assay results pending.

Michael Wood, Sendero executive chairman, commented:

"We are delighted to be expanding our land position in Vicuna. The exploration we have done at Penas Negras to date has highlighted the great geological potential of the area, and the ability to increase our land position by 76 per cent to 211 square km in one of the hottest exploration districts in the world is something the team is very excited about.

"We are looking forward to working with EMSE to develop the Vicuna district in the province of La Rioja, and bring economic and social benefits to the people of La Rioja."

Pursuant to the terms of the option agreement, the formation of the joint venture is conditional on the following deliverables by Sendero:

• Sendero to make aggregate cash payments of $5-million (U.S.) of which $1-million (U.S.) is payable in 2024, $1.26-million (U.S.) in 2025, and $1.37-million (U.S.) in each of 2026 and 2027.
• Sendero shall have completed work expenditures of $10-million (U.S.) within four years on the combined land package of Penas Negras project and joint venture claims.
• EMSE shall be granted a 1-per-cent net smelter royalty (NSR) on the Penas Negras project.

Sendero will provide information on the geological information that EMSE has on the joint venture claims, once it has completed a detailed review and outlined initial work plans on the joint venture claims.

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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