Mr. Brandon Gaspar reports

SAN LORENZO OUTLINES NEW ~2 KM GOLD-BEARING CORRIDOR AND EXPANDS SAN JUAN TARGET FOOTPRINT

San Lorenzo Gold Corp. has provided an exploration update from its 11,962-hectare Salvadora project in Chile's Atacama region.

Recent work across Salvadora continues to advance existing discoveries while expanding the exploration pipeline. Highlights include:

• Quebrada Salada: Mapping and surface sampling outline an approximately two-kilometre (km) gold-bearing structural corridor east of IP (induced polarization) chargeability responses.
• San Juan IP footprint expanded: New D10 and D11 IP lines expand the geophysical picture beyond the current discovery drilling, while planning advances for systematic stepout drilling from D8 toward the broad D9 response.
• Geophysical compilation under way: San Lorenzo is progressing an integrated 3-D compilation of approximately a decade of geophysical work across Salvadora to support drill planning and new target generation.
• Cerro Blanco: The permitted drill program is under way.

Quebrada Salada -- new gold-bearing structural corridor

San Lorenzo completed reconnaissance prospecting, geological mapping and surface sampling at Quebrada Salada to evaluate a previously underexplored trend marked by historic workings and prospective structures. The work outlined an approximately two-kilometre-long, north-to-northwest-trending structural corridor containing multiple subparallel felsic dykes and iron oxide-quartz vein zones. Reconnaissance sampling returned gold values up to 12.80 grams per tonne (g/t) gold (Au), with anomalous gold identified at multiple locations along the mapped trend. The target is particularly compelling because the gold-bearing structures occur along the eastern margin of existing IP coverage, where several chargeability responses are present nearby, while portions of the mapped trend remain outside the current geophysical footprint. The relationship between the surface mineralization and these subsurface responses has not yet been tested.

This setting is consistent with the exploration approach that led San Lorenzo from surface workings and geochemistry along the Arco de Oro trend to IP-defined subsurface targets and ultimately the discovery at San Juan. The next step at Quebrada Salada is to extend the geological and geophysical coverage and determine whether the surface epithermal system forms part of a larger hydrothermal system at depth.

San Juan -- emerging IP footprint

San Lorenzo has now incorporated recently completed IP lines D10 and D11 into its interpretation of the San Juan discovery area, building on the D8 and D9 surveys completed previously. San Juan was discovered by drilling a blind chargeability anomaly on IP line D8, where subsequent drilling intersected broad gold mineralization, including 102.3 metres grading 1.33 g/t Au and 52.6 metres grading 1.67 g/t Au in SAL-10-25, as well as 58.5 metres grading 1.07 g/t Au and a separate 60.3 metres grading 1.01 g/t Au in SAL-09-25. See the company's news releases dated May 8, 2026, and June 4, 2026, for additional information regarding these previously reported drill results.

The expanded dataset now shows sizeable chargeability responses across D8 through D11. IP line D9, approximately 500 metres from D8, contains a broad and prominent chargeability response, while D10 and D11 identify additional responses across the wider survey area. The relationship and potential continuity between these responses remain under evaluation, but the current interpretation indicates that the geophysical footprint at San Juan extends substantially beyond the area tested by drilling to date. The immediate exploration priority is to systematically step out from the D8 discovery toward D9 and test the substantial undrilled ground between the two lines. Planning for the next phase of drilling is underway and remains a high priority for the company, with the D8-D11 data set also being incorporated into continuing 3-D geophysical work to refine the geometry of the principal responses and guide drill targeting.

Integrated 3-D geophysical compilation

San Lorenzo is progressing an integrated 3-D compilation of approximately a decade of geophysical work across Salvadora, spanning roughly 18 kilometres (km) of the property. The program brings historic and recently completed IP data sets into a common framework to improve the company's understanding of the property-scale geophysical architecture, support drill planning, and assist with the generation and prioritization of new targets.

Cerro Blanco update

The Cerro Blanco drill program is under way as part of the company's permitted 20-pad program. The program is designed to follow up previously reported broad zones of gold mineralization and further test the scale and continuity of the Cerro Blanco system within its broader alteration and geophysical footprint. Previous drilling at Cerro Blanco returned multiple broad gold intercepts, including 153.5 metres grading 1.04 g/t Au in SAL-01-24.

See the company's news release dated March 3, 2025, for additional information regarding this previously reported drill result.

Management commentary

Brandon Gaspar, chief executive officer of San Lorenzo, commented: "What excites us most about Salvadora is how much opportunity still sits in front of us. San Juan has already demonstrated the value of using IP to identify blind mineralized systems and Quebrada Salada is now emerging as another compelling target with approximately two kilometres of gold-bearing structures, historic workings and nearby chargeability responses that remain untested. As we continue to advance our known discoveries, we are building a pipeline of new exploration targets across Salvadora that we believe will help demonstrate the broader potential of the district. With large areas of the property still lightly explored, we believe there is substantial room for further discovery -- and in many respects, we're just getting started."

Terence Walker, vice-president of exploration, commented: "We are very encouraged by what we are seeing at Quebrada Salada. The combination of gold-bearing structures, felsic dikes and nearby chargeability responses fits well with the exploration model we have been developing across Salvadora. San Juan demonstrated the value of using IP to identify blind targets, and the D9, D10 and D11 surveys are now giving us a much broader picture of the geophysical system surrounding that discovery. Quebrada Salada is at an earlier stage, but it has many of the geological features we look for and warrants systematic follow-up."

Sampling and analytical procedures

A total of 27 rock and regolith samples were collected at Quebrada Salada during reconnaissance prospecting and geological mapping in June, 2026. Samples were submitted to Andes Analytical Assay SpA (AAA) in Copiapo, Chile, an independent laboratory, for preparation and analysis. Gold was analyzed by fire assay with atomic absorption finish using method FA-AA-1E42, which uses a nominal 40-gram sample charge, with the actual charge adjusted by the laboratory where warranted by sample characteristics. Silver, copper and 31 additional elements were analyzed by ICP (inductively coupled plasma) following aqua-regia digestion. AAA applied its standard internal quality control procedures. The samples are selective in nature and are not necessarily representative of the overall grade or continuity of mineralization at Quebrada Salada.

Geophysical survey information

The San Juan IP data discussed in this release include the D5 through D11 chargeability data sets. Formal 3-D geophysical modelling is in progress.

Data verification and qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Terence Walker, vice-president, exploration, of San Lorenzo and a qualified person as defined by National Instrument 43-101.

About San Lorenzo Gold Corp.

San Lorenzo Gold is a Canadian mineral exploration company advancing its 100-per-cent-owned Salvadora project in Chile's Atacama region, approximately 15 kilometres from Codelco's El Salvador copper-gold mine. Salvadora hosts multiple gold and copper-gold discoveries and mineralized centres identified through drilling, geophysics and surface exploration across the property.

San Lorenzo is focused on expanding known mineralized systems, testing a growing pipeline of exploration targets and systematically defining the scale and potential of Salvadora's broader mineralized systems.

We seek Safe Harbor.