Mr. Scott McLean reports

TESORO MINERALS ANNOUNCES RE-PRICING $300,000 PRIVATE PLACEMENT

Tesoro Minerals Corp., in accordance with TSX Venture Exchange regulations and in response to market conditions, has adjusted the pricing of its non-brokered private placement initially set forth on Feb. 13, 2024. The company is now offering up to 12 million common shares at a revised price of 2.5 cents per share, for gross proceeds of up to $300,000.

A finder's fee may be payable in cash of up to 6 per cent of the proceeds of the private placement in accordance with TSX-V policies.

The net proceeds of the private placement are expected to be allocated by the company for general working capital and operating expenses. A portion exceeding 10 per cent of the funds raised will be allocated for the payment of the annual concession fees in Peru. Additionally, 10 per cent will be allocated to carry out a community engagement plan to address concerns and educate the local population on the impacts and benefits of the company's activities.

It is important to note that none of the proceeds will be utilized for investor relations activities, and no payments will be made to non-arm's-length parties of the issuer.

All securities issued under the private placement are subject to a four-month-and-one-day restricted resale period from the date of the close in accordance with the policies of the TSX Venture Exchange and applicable securities laws.

Closing of the private placement is subject to certain customary conditions, including the receipt of TSX-V approval.

About Tesoro Minerals Corp.

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

We seek Safe Harbor.