Mr. Terence Walker reports

SAN LORENZO GOLD ANNOUNCES FIRST CLOSING OF PRIVATE PLACEMENT

Further to the news releases issued on Dec. 11, 2025, and Dec. 15, 2025, San Lorenzo Gold Corp. received conditional approval for the non-brokered best effort private placement of units of the corporation from the TSX Venture Exchange on Dec. 18, 2025, and a first closing was completed on Dec. 19, 2025. The first closing involved the issuance of 4,110,226 units for gross proceeds of $2,548,340.12. Each unit was composed of one common share of the corporation and one-half of a purchase warrant. Each full warrant entitles the holder to acquire an additional common share at a price of 80 cents for a period of two years from the closing date. The corporation paid cash commissions totalling $81,329.95 and issued 131,177 broker warrants in respect of the first closing. Each broker warrant entitles the holder to acquire a common share at a price of 80 cents for a period of one year from the closing date. The first closing is subject to final acceptance of the TSX Venture Exchange.

San Lorenzo has received subscription agreements in excess of the increased maximum of $5-million announced on Dec. 15, 2025, and anticipates closing on those additional subscriptions in due course.

About San Lorenzo Gold Corp.

San Lorenzo is focused on advancing its flagship Salvadora property located in Chile's megaporphyry belt. Results obtained from prior drilling programs conducted on four different targets have convinced management that several significant gold- and copper-enriched epithermal and porphyry-style systems are contained within the Salvadora property.

We seek Safe Harbor.