Mr. Richard Williams reports

TERRENO ANNOUNCES STRATEGIC REVIEW

Terreno Resources Corp.'s management is conducting a reassessment of its exploration direction and, accordingly, has not issued the 20 million shares from treasury in order to acquire the 40-per-cent balance of the Las Cucharas silver property, in Mexico, as was authorized at the 2023 annual shareholders meeting. The option to acquire the 40-per-cent interest remains in place, subject to regulatory approval. This property transaction will be reassessed following the presidential election in Mexico and the mining policies adopted thereafter.

Company president Richard Williams stated that: "We are seeing some very interesting exploration and development opportunities, however, financing in the junior sector remains a challenge. Our goal is to structure accretive transactions while minimizing dilution."

We seek Safe Harbor.