Mr. Gordon Aldcorn reports

SAN LORENZO PROVIDES UPDATE TO PROPOSED PRIVATE PLACEMENT

San Lorenzo Gold Corp. has provided an update to the non-brokered private placement of up to 8,333,333 units of the company at a price of 12 cents per unit, for aggregate gross proceeds of up to $1-million, announced on Aug. 25, 2023.

The company is pleased to report that while interest in the offering has exceeded the announced maximum, the company expects to close the offering later today at that announced maximum of $1-million. The proceeds of the offering are expected to be applied in the following manner: costs related to the next phase of exploration including drilling: $750,000; costs of the offering: $50,000; costs related to previous drilling: $100,000; with the remainder being allocated to working capital.

Completion of the offering is subject to regulatory approval including, but not limited to, final approval of the TSX Venture Exchange. The common shares and warrants issued pursuant to the offering will be subject to a four-month-and-a-day hold period from the date of closing of the offering.

About San Lorenzo Gold Corp.

San Lorenzo Gold is involved in the exploration and advancement of mineral properties. The company currently has three 100-per-cent-owned properties in Chile: Salvadora, Nancagua and Punta Alta.

We seek Safe Harbor.