Mr. Gordon Aldcorn reports

SAN LORENZO COMPLETES PRIVATE PLACEMENT

San Lorenzo Gold Corp. has completed the previously announced (Aug. 25, 2023, and Sept. 13, 2023) non-brokered private placement of units of the company at a price of 12 cents per unit. The company closed on the maximum offering of $1-million and issued 8,333,333 units. Each unit comprises one common share of the company and one common share purchase warrant, with each warrant entitling the holder to purchase an additional common share for 18 cents for 18 months from the closing date.

The company intends to use the proceeds from the offering as follows: 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.

Pursuant to the offering, San Lorenzo paid cash commissions to qualified non-related parties in the amount of $32,646 and issued 272,050 broker warrants, each broker warrant entitling the holder to acquire one common share at a price of 12 cents per common share for a period of 18 months from the date of issuance.

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 under the offering are subject to a four-month-and-one-day hold period from the date of the closing of the offering.

For further information on the company, readers are referred to the company's website and its Canadian regulatory filings on SEDAR+.

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.

The Salvadora property is subject of a recent drill program. The property is on trend with the El Salvador mine located 15 kilometres to the northwest, which has been in production for over 60 years. The Salvadora property has five zones of interest with only three having been drilled to date. It is being explored for large-scale copper-gold porphyry targets and high-grade epithermal gold-silver-copper vein systems.

Nancagua is a high-grade mesothermal gold-silver prospect and Punta Alta is an IOCG (iron oxide, copper and gold) prospect with related disseminated and vein-style copper-gold-silver-cobalt mineralization.

We seek Safe Harbor.