Corporate Member

Tesoro Gold Limited (ASX: TSO, OTCQX: TSORF, FSE: 5D7) is an Australian gold development and exploration company advancing the El Zorro Gold Development Project in Chile’s coastal Cordillera.

El Zorro hosts the substantial Ternera Gold Deposit, which represents a large-scale open-pit gold development opportunity benefiting from straightforward metallurgy, excellent regional infrastructure and advanced technical definition.

Tesoro has recently declared a maiden Ore Reserve containing 1.28Moz of gold within a single open pit, representing a major project de-risking milestone which establishes a substantial initial development inventory. The Reserve is underpinned by the recently upgraded, pit-constrained Mineral Resource of 51.6Mt at 1.10g/t Au for 1.82Moz, including 1.47Moz in the higher-confidence Measured and Indicated categories.

Tesoro is advancing a Definitive Feasibility Study targeted for completion by the end of CY2026, while ongoing drilling continues to target resource extensions and new discoveries across the broader El Zorro Gold District, providing significant exploration upside alongside an increasingly de-risked development opportunity.