Mr. Scott McLean reports

TESORO MINERALS ANNOUNCES RE-PRICING OF PRIVATE PLACEMENT

Due to current market conditions, Tesoro Minerals Corp. has repriced the non-brokered private placement offering previously announced on April 5, 2023. With the adjustment, the company intends to issue up to 10 million common shares at a price of 2.5 cents for aggregate gross proceeds of approximately $250,000.

In addition, the closing of the offering has been extended, is anticipated to occur on or before May 31, 2023, and continues to be subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. The securities issued under the offering will be subject to a statutory hold period in Canada expiring four months and one day from the closing date.

Finders' fees may be payable in cash of up to 6 per cent of the proceeds of the private placement in accordance with TSX Venture Exchange policies.

The net proceeds of the offering are expected to be used by Tesoro for general working capital and operating expenses to support business efforts.

About Tesoro Minerals Corp.

The company has assembled a team of experienced geoscientists with extensive exploration experience in the Americas with the aim of acquiring further assets.

We seek Safe Harbor.