San Lorenzo Expands Land Position at Salvadora's Cerro Blanco Target
(TheNewswire)
CALGARY – TheNewswire - March 19, 2026 - San Lorenzo Gold Corp. ("San Lorenzo" orthe "Corporation") (TSXV: SLG and OTC:SNLGF) is pleased to announce that it hassignificantly increased its acreage footprint on the Cerro Blancotarget of its Salvadora property in Chile. The acreage expansioninvolves 2,900 total hectares and was accomplished through acombination of:
1)Entering into an optionagreement (OptionAgreement”) with Mirasol Resources Ltd.(“Mirasol”) pertaining to Mirasol’s Rubi project (the“Rubi Project” or “Rubi”) adding 2,000 hectares; and
2)The acquisition of 3 claimblocks (AdditionalClaims”) contiguous with both the Rubi Projectand San Lorenzo’s existing Salvadora claims block adding 900hectares.
The lands were added on the eastern side of SanLorenzo’s Salvadora property, where the Cerro Blanco porphyry targetis located - as shown on Figure 1 below.
Click Image To View Full SizeFigure 1: Cerro Blanco Area of Salvadora Property - Additional LandsIllustrated
San Lorenzo views the addition of these tenements asimportant strategic additions that continue to consolidate itssignificant land position at Salvadora. San Lorenzo has already hadexploration success at Salvadora where drilling has resulted indiscoveries – not only on the Cerro Blanco target but also on theArco De Oro and Cabello Muerto targets.
Regarding the additional acreage, Terence Walker, SanLorenzo’s VP of Exploration commented: “We are excited to continue our CerroBlanco exploration efforts 1.7 km north-eastward to the river valleyfloor where significant alteration is visible. This acreage additionnow allows us to continue southward as well where another surfacelitho-cap feature is present. This is because we now have 6 km ofN/S strike length compared to the 2 km of N/S strike lengthpreviously. We anticipate doing a thorough review of the additionalsurface geo-chem, IP and other technical data that we now have accessto as a result of the Option Agreement. We expect that data toenhance our understanding of the system that we’ve gleaned from ourown surface geo-chem, IP and recent successful drilling. Thecombined Cerro Blanco/Rubi target has become even more compelling. Itwarrants further exploration efforts that include drilling.”
Cerro BlancoUpdate on Exploration Activities
San Lorenzo has drilled 3 holes on the eastern side of theCerro Blanco litho-cap feature (northernmost circle on Figure 1). Two of those holes were drilled in the 2024-2025 program (holes SAL01-24 and SAL 02-24). The third hole (SAL 04-25), the first hole inthe current program, was drilled on an in-fill IP line obtained duringthe most recent (summer 2025) IP program. A fourth hole on the eastside of the litho-cap feature was planned to test the strongest IPconductivity/resistivity anomaly identified to date, which is locatedon the eastern end of the northernmost IP line. That hole has notyet been drilled due to terrain limitations. However, it isscheduled to be drilled in the near future. The locations of the 3holes that have been drilled are illustrated on the figures belowwhich include their related IP lines and their locations relative tothose IP lines - the only IP lines run by San Lorenzo to date. Insofar as IP has been proven to be a very useful exploration toolon the Salvadora property, San Lorenzo is actively planning an IPprogram that will provide additional data both north - and now to thesouth as well - of the existing IP lines. It is intended thatadditional drilling will follow IP. Drilling is targeted to:
1)Extend the known strike lengthof the Cerro Blanco system; and
2)Confirm the interpretation thatthe mineralization is sub-vertical as can be witnessed on the valleyfloor 1.7 km to the north of hole SAL 04-25.
Figure 2 (above): IP Line & HoleLocations - East Side of Cerro Blanco Litho-Cap Feature
Figure 3 (below): IP lines withHole Locations
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The following tables containpreviously released assay data for holes drilled on east side of thelitho-cap at Cerro Blanco
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Cerro BlancoSurface Sampling – Past and Currently Underway
San Lorenzo is pleased to report that a follow-up tothe 2011 and 2012 surface sampling programs is currently underway atCerro Blanco. The program is intended to infill prior surfacesampling programs and will traverse the features that were interceptedin the 3 holes San Lorenzo has drilled on the east side of thelitho-cap feature. It should be noted that the locations of the 3holes drilled to date were based on anomalous IP features and were supported by strong surface rocksampling as shown in the maps below.
Figure 4 (above): 2011 and 2012surface gold and copper rock sample results and drill locations atCerro Blanco
Figure 5 (below): Enlarged View ofsurface gold and copper rock sample results from the area immediatelysurrounding Cerro Blanco drilling.
Regarding the next phase of surface sampling currentlyunderway at Cerro Blanco, Terry Walker commented: “We have long been in possession ofsurface geo-chem that consists of continuous rock chip samples overand around the litho-cap feature. They strongly support the IPanomalies we have drilled at Cerro Blanco. We look forward to theresults of this expanded and detailed surface sampling grid.”
Salvadora Expanded LandPosition
San Lorenzo has significantly increased its acreage atthe Cerro Blanco target through a combination of a) acquiringdelinquent claims; and b) the Option Agreement - as discussedbelow.
a)The Additional Claims
The Additional Claims are 3 claim blocks totaling 900hectares that are situated contiguous to both San Lorenzo’s existingclaims (to the North) and to the Rubi Project (to the West). TheAdditional Claims are highlighted in Figure 1 - in green. TheAdditional Claims were not part of the Option Agreement. Thoseclaims, which are 100% owned, were delinquent claims acquired by SanLorenzo during 2025.
b)The Option Agreement
An Option Agreement with Mirasol pertains to the2,000-hectare Rubi Project. Rubi is a large-scale porphyry targetupon which a litho-cap is evident at surface – not dissimilar tothat seen on San Lorenzo’s Cerro Blanco target where recent drillinghas returned significant results. The Rubi Project lands arehighlighted in Figure 1 - in yellow.
San Lorenzo has made a cash payment of US$ 50,000 inconnection with signing the binding Letter of Intent pertaining to theOption Agreement. The parties have agreed to work co-operatively tofinalize the formal Option Agreement documents in a timely fashion -expected by March 31, 2026.
The Option Agreement provides that San Lorenzo willmake the following USD payments to Mirasol upon signing of the formalagreements (the “SigningDate”):
1)On the Signing Date:$100,000;
2)On the first anniversary of theSigning Date: $100,000;
3)On the second anniversary ofthe Signing Date: $100,000; and
4)On the third anniversary of theSigning Date $1,250,000
(Collectively, the “Scheduled Payments”totaling $1,550,000).
San Lorenzo has also committed to incur annual minimumexpenditures on the Rubi lands as follows:
1)During the first year after theSigning Date: $150,000
2)During the second year afterthe Signing Date: $ 150,000
3)During the third year after theSigning Date: $350,000
(Collectively, the “Minimum Expenditure Commitments” totaling $650,000).
Upon San Lorenzo having made the Scheduled Payments andhaving satisfied the Minimum Expenditure Commitments, San Lorenzo willhave earned a seventy percent (70%) interest in the RubiProject.
San Lorenzo has no obligation to continue to makepayments under the Option Agreement. However, if San Lorenzo doesnot make all of the Scheduled Payments or does not satisfy the MinimumExpenditure Commitments, San Lorenzo will not earn an interest in theRubi Project.
San Lorenzo has two options to acquire the remaining30% interest in the Rubi Project - either in two separate 15% tranchesor all at the same time - by making further payments asfollows:
1)A payment in the amount of$1,750,000 on or before the end of 54th monthfollowing the Signing Date to acquire an additional 15%; and
2)A payment in the amount of$2,250,000 on or before the end of the 72nd monthfollowing the Signing Date to acquire the final 15% whereafter SanLorenzo will own 100% of the Option Agreement lands.
In the event that San Lorenzo does not exercise theoptions, Mirasol will retain a 30% or 15% carried interest until adecision to mine is made.
Mirasol will retain a 2% net smelter royalty on theOption Agreement lands which are subject to buy-down options in favorof San Lorenzo as follows:
1)By making a payment in theamount of $2,000,000 within one year following the exercise of thesecond 15% purchase option to bring the NSR down to 1.5%; and
2)By making a payment in theamount of $2,000,000 within one year following commencement ofcommercial production to bring the NSR down to 1.0%.
About The RubiProject
The 2,000-hectare Rubi project is located within thePaleocene age porphyry belt of northern Chile that hosts a number ofsignificant producing porphyry copper deposits. The project lies atrelatively low elevation (1,900-2,100m) within 20 km of the ElSalvador and Potrerillos porphyry copper-moly-gold mines and has goodaccess to port facilities at Chañaral approximately 80 km to thewest.
A second litho-cap feature covers an area centered on alarge, deeply weathered, advanced argillic alteration zone which issurrounded by thin gravel cover. Geochemically barren litho-capalteration zones of the type seen at Rubi can form above or adjacentto large porphyry copper deposits. Drilling of the litho-cap featureindicates proximity to a potentially well-mineralized copper system.The intersected hydrothermal brecciation and phyllic alterationsuggest that drilling is approaching the central, more prospective,portion of the system.
During November 2021, Mirasol reported on the 1,887mdrill program completed at Rubi. Drilling was focused on theLithocap and Zafiro targets, with the results supporting the presenceof a large and strong prospective porphyry-style alteration system.Key indicators included the occurrence of porphyritic dacite-andesiteintrusive rocks and hydrothermal brecciation, which exhibit strongquartz-sericite (phyllic) alteration overprinting a relict K-feldsparalteration that host trace fine pyrite-chalcopyrite-magnetitemineralization. In addition, good ground preparation was observed,which is critical for ore deposit formation, with strong to locallyintense fracturing infilled with late gypsum/anhydrite and calciteveining. Importantly, assay results confirmed the presence ofanomalous copper, molybdenum and locally elevated gold over intervalsof approximately 200m.
San Lorenzo looks forward to providing furtherinformation on Rubi and the Additional Claims in the nearfuture.
QualifiedPerson
The scientific and technical information contained inthis news release has been reviewed and approved by Terence Walker,M.Sc., P. Geo., the VP of Exploration of San Lorenzo who is a"qualified person" within the meaning of National Instrument43-101.
About SanLorenzo
San Lorenzo is focused on advancing its flagshipSalvadora property located in Chile’s mega-porphyry belt with thephase 6 drilling program focused on 2 targets - Cerro Blanco and Arcode Oro. Results obtained from prior phases of drilling - conductedon 4 out the 5 targets so far - have convinced management that severalsignificant gold and copper enriched epithermal and/or porphyry stylesystems are contained within the Salvadora property.
For further information, pleasecontact:
Terence (Terry) Walker, VP Exploration
Email: twalker@goldenrock.cl
Ph: + 56 9 5179 5902
Or:
Roger Blair or Jeff Wilson, Acuity AdvisoryCorp.
Email: info@acuityadvisorycorp.com
Ph: +1 604 351 0025 or +1 604 837 5440
Or:
Al Kroontje
Email: al@slgold.ca
Ph: +1 403 607 4009
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
Cautionary Note RegardingForward-Looking Information
This news release may containforward-looking information that involves substantial known andunknown risks and uncertainties, most of which are beyond the controlof San Lorenzo. All statements included herein other than statementsof historical fact are forward-looking information. Suchforward-looking information involves various risks and uncertainties.There can be no assurance that such information will prove to beaccurate, and actual results and future events could differ materiallyfrom those anticipated in such information. Any forward-lookingstatements are made as of the date of this release and, other than asrequired by applicable securities laws, San Lorenzo does not assumeany obligation to update or revise them to reflect new events orcircumstances.
Copyright (c) 2026 TheNewswire - All rights reserved.
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