Mr. Scott McLean reports

TESORO MINERALS CORP. ANNOUNCES UPDATE ON ACQUISITION OF RUMICHACHA AND CERRO MACHO PROPERTIES, PERU, AND $500,000 NON-BROKERED FINANCING

Tesoro Minerals Corp. has provided an update on its previously announced acquisition of the Rumichacha and Cerro Macho mineral properties, located in Peru (see news release dated July 8, 2025), and has arranged a $500,000 non-brokered private placement financing to support continuing exploration and corporate activities.

Update on acquisition of Rumichacha and Cerro Macho

Tesoro continues to advance the acquisition of a 100-per-cent interest in the Rumichacha and Cerro Macho properties, which are located in a prospective mineral district in Peru with geological characteristics favourable for high-sulphidation, epithermal gold mineralization. The property is underexplored and has never been drilled.

Since the announcement in July, 2025, the company has:

• Completed a National Instrument 43-101 technical report and verified the prospectivity for high-sulphidation, epithermal gold mineralization;
• Received a title opinion verifying the tenure of the acquired acquisitions;
• Continued compilation and review of historical exploration data;
• Initiated planning for a phased exploration program, subject to closing of the transaction;
• Advancement of the Rumichacha and Cerro Macho properties, including initial fieldwork, compilation, mapping and sampling, and induced polarization ground geophysical surveys;
• Community and social engagement;
• General working capital and corporate purposes.

The Rumichacha and Cerro Macho properties are considered early-stage exploration assets with potential for discovery based on historical sampling, alteration and structural setting. The company believes these assets align well with Tesoro's strategy of acquiring and advancing high-quality exploration projects in underexplored yet mining-friendly jurisdictions.

The acquisition remains subject to customary closing conditions, including regulatory approvals and final documentation. The company will provide further updates as milestones are achieved.

$500,000 non-brokered private placement financing

Tesoro also announces a non-brokered private placement financing of up to $500,000 subject to regulatory approval. The financing will consist of the issuance of 6.25 million common share at a price of eight cents per share. Closing of the financing will be subject to receiving TSX Venture Exchange approval of the acquisition of the property.

Finders' fees may be payable in connection with the financing, subject to regulatory approval. All securities issued will be subject to a statutory hold period in accordance with applicable securities laws.

Qualified person

The technical elements of this news release have been approved by Scott McLean, PGeo (PGO), chief executive officer and director of Tesoro Minerals, and a qualified person under National Instrument 43-101.

About Tesoro Minerals Corp.

Tesoro Minerals is a junior exploration company focused on discovering and advancing high-quality precious and base metal projects in Peru. The company leverages strong in-country expertise and a disciplined, value-accretive approach to project acquisition and exploration.

We seek Safe Harbor.