Earnings release
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31 Cliff Street, Fremantle WA 6160 | +61 8 6383 7883 | info@tesorogold.com.au | tesorogold.com.au ASX ANNOUNCEMENT 27 JANUARY 2026 ASX: TSO OTCQB: TSORF FSE: 5D7 QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2025 Tesoro Gold Limited (ASX: TSO, OTCQB: TSORF) (Tesoro or the Company) is pleased to report on its activities for the quarter ended 31 December 2025 (the Quarter). HIGHLIGHTS FROM THE QUARTER Exploration and Drilling Three concurrent, fully funded, diamond dr illing programmes commenced, for a total of approximately 38,000m: Infill Drilling Programme (approx. 20,000m): Notable results returned from the first three infill holes completed: 43.08m @ 1.98g/t Au from 476.00m (ZDDH0385), including: 5.87m @ 7.86g/t Au from 510.88m. 80.20m @ 0.93g/t Au from 118.80m (ZDDH00389), including: 31.42m @ 1.62g/t Au from 163.08m. Extensional Drilling Programme (approx. 6,000m): Results from the initial eight holes completed returned shallow, high-grade gold mineralisation at the northern extension of Ternera: 10.06m @ 1.70g/t Au from 59.74m (ZDDH0387), including: 2.21m @ 7.20g/t Au from 69.59m. New Discovery Drilling Programme (approx. 12,000m): Five-hole (1,117m) maiden diamond drilling programme completed at the La Brea prospect, located 15km north of the Ternera Gold Deposit (Ternera). All holes returned positive results, inte rsecting favourable geology with wide alteration zones containing anomalous gold. Outcomes mirror the early drilling signatures observed at Ternera. Detailed outcrop channel sampling has highlighted three compelling gold targets along the Pena Blanca trend. Select channel sampling highlights included: 24.00m @ 0.58g/t Au (EXTR05135), included; 3.00m @ 1.42g/t Au. 1.00m @ 12.70g/t Au (EZTR05087). For personal use only
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Tesoro Gold 2 ASX ANNOUNCEMENT 27 JANUARY 2026 Corporate Settled the $34 million placement to accele rate the development of the El Zorro Project through to positive Financial Investment Decision. Completed a consolidation of the Company’s share capital on a 15 for 1 basis. Appointment of Ms Sarah Wilson as Company Secretary. Cash balance of A$29.19 million and zero debt as at 31 December 2025. Tesoro Managing Director, Zeff Reeves, commented: “An extensive body of exploration drilling at El Zorro continues into 2026, with five drill rigs operating around the clock to advance our three major diamond drilling programmes. “Both the infill and extensional drilling campaigns have produced highly encouraging results to date, which strongly support further upgrades to the Ternera MRE and contribute to the completion of PFS workstreams, which are now well advanced. Outstanding holes scheduled as part of these programmes are expected to be completed in late Q1 2026. “Our regional new discovery focused drilling programme has delivered early exploration success at La Brea with all five holes intersecting gold mineralisation. These results mirror some of the initial results achieved at Ternera, reflecting the strong geological potential for El Zorro to host multiple large-scale gold deposits. “Detailed mapping, sampling and gridded soil sampling programmes will continue to advance in parallel with this district-scale programme for the purpose of generating new prospective targets for maiden drilling. This includes Pena Blanca, where recent surface sampling taken from outcropping rock has defined three zones of strong mineralisation along the previously identified, well-defined trend. “Tesoro has an exciting year ahead as we continue to expand and derisk Ternera, target new regional gold discoveries, and advance th e world-class El Zorro Gold Project through advanced technical studies.” For personal use only
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Tesoro Gold 3 ASX ANNOUNCEMENT 27 JANUARY 2026 Figure 1 – El Zorro Gold Project district map showing highly prospective gold corridor and high priority targets along an approximately 20km north-south trending zone. Datum PSAD56 19S. ASX announcement 4 August 2025. For personal use only
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Tesoro Gold 4 ASX ANNOUNCEMENT 27 JANUARY 2026 EL ZORRO GOLD PROJECT, CHILE Exploration and Drilling: 2025-2026 Diamond Drilling Programme Tesoro has three major, fully funded diamon d drilling programmes underway concurrently across the El Zorro Gold Project. These programmes are designed grow the Ternera Deposit, provide necessary data for adva nced technical studies, and deliver new, district-scale discoveries. Together, these three programmes are planned for a total of 38,000m of drilling: Infill Drilling Programme: Approximately 20,000m to support Feasibility Study workstreams. Extensional Drilling Programme: Approximately 6,000m to define and extend shallow northern and southern extensions and to test depth extensions to the existing Ternera Deposit. New Discovery Drilling Programme: District scale drilling of approximately 12,000m focused on priority undrilled targets and follow-up on previous results at Kitsune, Calderillas and Toro Blanco. Tesoro also conducted detailed mapping, sampling and gridded soil sampling programmes at Pena Blanca and Drone Hill to support the final stages of planning for maiden drilling at these promising targets. Five drill rigs are currently operating 24 hou rs a day at Ternera, advancing the infill and extensional programmes which are expected to be completed later in Q1 2026. A geophysical contractor has been engage d to complete detailed helimagnetic and radiometric surveys across the broader project area, providing an enhanced dataset for target generation across the highly prospective El Zorro District. Wide, high-grade gold intercepts returned at Ternera On 22 October 2025, Tesoro announced significan t assay results from the first eleven holes drilled as part of its three concurrent drilling campaigns at Ternera. These results pertain to three infill and eight extensional drill holes. Infill Drilling Programme The infill drilling programme is designed to upgr ade Mineral Resource classification within areas of the proposed Ternera open pit. This work supports initial Ore Reserve estimation and PFS workstreams. Drilling is targeting areas of existing mineralisation within the current Mineral Resource Estimate (MRE) to improve confidence in grade continuity and geometry. Recent assay results from this programme include: 43.08m @ 1.98g/t Au from 476.00m (ZDDH0385), including: 5.87m @ 7.86g/t Au from 510.88m. For personal use only
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Tesoro Gold 5 ASX ANNOUNCEMENT 27 JANUARY 2026 80.20m @ 0.93g/t Au from 118.80m (ZDDH0389), including: 31.42m @ 1.62g/t Au from 163.08m These results confirm the continuity of severa l wide, high-grade mineralised zones, and will contribute to assisting with improvement of th e resource classification and the next MRE update. Extensional Drilling Programme The extensional drilling programme aims to expa nd the Ternera Deposit by testing shallow northern and southern extensions, as well as other structural positions identified along strike. 10.06m @ 1.70g/t Au from 59.74m (ZDDH0387) including; 2.21m @ 7.20g/t Au from 69.59m. Several additional shallow, narrow sediment-hosted mineralised intervals were also intersected from extensional holes to the nort h and south. Follow-up drilling is planned to extend these zones and delineate areas where the mineralised fault system intersects the favourable El Zorro Tonalite intrusive. Results included drill holes at Ternera East (ZDDH0392), and a step-out hole approximately 550m south of the existing Ternera MRE (ZDDH 0396). These holes were designed to test favourable geology and fault systems interpreted to control gold mineralisation at Ternera. For full details, tables and results, refer to ASX release dated 22 October 2025. Figure 2: El Zorro Gold Project – Ternera Area. Drill locations in the current program, Datum PSAD56 19 For personal use only
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Tesoro Gold 6 ASX ANNOUNCEMENT 27 JANUARY 2026 Figure 3: El Zorro Gold Project – Near Deposit Targets. Schematic representation of drill targets. Three new targets emerge at Pena Blanca On 6 November 2025, Tesoro announced signific ant results from recent exploration work completed at the Pena Blanca target, a large, 5km long gold target 0F 1 located approximately 5km south of Ternera. Results from recent outcrop channel samplin g have highlighted three compelling gold targets along the Pena Blanca gold trend. 1 Refer to TSO ASX release dated 2 April 2025 For personal use only
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Tesoro Gold 7 ASX ANNOUNCEMENT 27 JANUARY 2026 Figure 4: El Zorro Gold Project Modelled Intrusive Relative Gold System Corridor: Tesoro’s Tenera Gold Deposit (red shaded circle), El Zorro gold prospect areas (red ou tlines), gold system corridor (red shaded area), and El Zorro project concessions outline (yellow outlines), over a filtered airborne magnetic survey anomaly image and background satellite image. For personal use only
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Tesoro Gold 8 ASX ANNOUNCEMENT 27 JANUARY 2026 These three discrete gold targets are distributed along the northeast-trending Pena Blanca gold corridor (Figure 5). Mineralisation is associated with intrusive rocks interpreted to have been emplaced during the main Ternera mineralising event and is best developed near intrusive-sediment contacts within favourable fault zones and veining systems. Figure 5: El Zorro Gold Project – Pena Blanca Target. Channel sampling highlights delineating three gold targets highlighted in red. For full details, tables and figures, refer to ASX release dated 6 November 2025. Maiden drilling confirms significant gold system at La Brea Tesoro’s district-scale New Discovery Drilling programme commenced, designed to target high-priority regional prospects including La Brea, Calderillas, Kitsune, and Toro Blanco. For personal use only
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Tesoro Gold 9 ASX ANNOUNCEMENT 27 JANUARY 2026 As part of this programme, Tesoro commenced maiden drilling at the La Brea target during the quarter with 5 holes drilled for 1,117m. La Brea is located approximately 15km north of Ternera, within the northern extent of the El Zorro Gold corridor (Figure 1). Previous mapping and sampling identified si gnificant outcropping gold mineralisation associated with northwest trending fault zones, adjacent to the La Isla granodiorite intrusion 1F 2. Figure 6: El Zorro Gold Project – District Scale Opportunity. Schematic representation of drill targets. On 12 December 2025, Tesoro reported significan t assay results from all five of these drill holes. This drilling delineated a prospective, gold bearing structural corridor along the northwest margin of the La Isla intrusion. The corridor is characterised by multiple sub parallel NW trending fault zones, a 200m wide alteration envelope and numerous mineralised quartz veins (Figure 7). The maiden five hole programme tested approx imately 250m of strike of the prospective gold corridor. All holes returned gold mineralisation with a peak interval 0.60m @ 4.19g/t Au from 51.40m (ZDDH0402). Critically, all holes exhibit extensive alteration, with several holes returning broad intervals of anomalous gold. This mineralisation style closel y mirrors early drilling signatures observed at 2 Refer to TSO ASX release 15 April 2024 For personal use only
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Tesoro Gold 10 ASX ANNOUNCEMENT 27 JANUARY 2026 Ternera and is considered indicative of prox imity to a large mineralised system. Broader anomalous zones include; 12.70m @ 0.19g/t Au from 130.45m (ZDDH0401) 37.90m @ 0.19g/t Au from 66.00m (ZDDH0402) 9.50m @ 0.49g/t Au from 197.50m (ZDDH0402) Current workstreams include detailed geological mapping, further surface sampling and multielement geochemical analysis to vector towards higher grade areas for follow-up drilling. For full details, tables and results, refer to ASX release dated 12 December 2025. Figure 7: El Zorro Gold Project – La Brea Target. Showing NW trending gold tren ds and surface sampling results adjacent to the La Isla Intrusion. Blue square indicates approximate position of Figure 3. Datum PSAD56 19S. For personal use only
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Tesoro Gold 11 ASX ANNOUNCEMENT 27 JANUARY 2026 Figure 8: El Zorro Gold Project – La Brea Drill Plan and surface mineralisation trends. Section line for Figure 4 shown in blue – Datum PSAD56 19S. For personal use only
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Tesoro Gold 12 ASX ANNOUNCEMENT 27 JANUARY 2026 Figure 9: El Zorro Gold Project – La Brea Drill Section. Section location shown in Figure 8. Red cross hatch indicates areas of wider anomalous gold results occurring within NW trending fault systems along the margin of the La Isla Diorite intrusion. Black lines indicate continuous quartz veins and red dashed lines indicate discrete faults. Datum PSAD56 19S For personal use only
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Tesoro Gold 13 ASX ANNOUNCEMENT 27 JANUARY 2026 CORPORATE Completion of Equity Placement On 3 December 2025, the Company comple ted the Placement (as announced on 30 September 2025). The raising of A$34m (before capital raising costs) at A$0.795 per share (post consolidation) reflected the strength of the El Zorro Gold Project and highlighted the both the renewed market awareness in our Project and confidence in our strategy. The Placement provides Tesoro with the funding certainly to complete all feasibility studies, progress approvals and move decisively towards a development decision at El Zorro, while also allowing the Company to aggressively e xplore the broader El Zorro Project area and unlock full its full potential. Expiry and Exercise of Options $145,564 was raised from the exercise of 138,632 TSOOA listed options which had an exercise price of $1.05 (post consolidation). The remaining options of this class expired on 13 December 2025. 133,333 TSOOPT2 unlisted options with an expiry date of 16 January 2026 were exercised in full prior to expiry at an exercise price of $0.405 (post consolidation) which raised $54,000. Change of Company Secretary and Registered Address On 31 October 2025, Tesoro announced the appointment of Ms Sarah Wilson as Company Secretary with Ms Sue Wong stepping do wn. The Company also advised that in accordance with ASX Listing Rule 3.14, its regi stered office and principal place of business was changed to 31 Cliff Street, Fremantle WA 6160. Share Capital Consolidation During the Quarter, Tesoro completed a consolidation of its share capital on a 15-for-1 basis. The consolidation was undertaken to simplify the Company’s capital structure, which prior to the consolidation, comprised approximately 2. 5 billion shares on issue, together with a significant number of options, performance rights and share rights, relative to the Company’s ASX-listed peer group. The Boar d considered that the pre-consolidation structure was not reflective of Tesoro’s scale, development status or longer-term growth ambitions. Following completion of the consolidation, Tesoro now has a more streamlined and effective capital structure, which the Boar d believes better aligns the Company with comparable listed peers and results in a share price more accessible to a broader range of institutional and retail investors. For personal use only
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Tesoro Gold 14 ASX ANNOUNCEMENT 27 JANUARY 2026 The share consolidation was approved at the Company’s General Meeting held on 26 November 2025. and completed on 8 December 2025. Expenditure and Payments to Related Parties The Company spent approximately A$5.8 million on exploration and development activities during the Quarter, which primarily comprised of feasibility study work, diamond drilling and exploration activities. As outlined in the Appendix 5B for the quarte r ending 31 December 2025 (sections 6.1 and 6.2), approximately A$262,000 in payments we re made to related parties and/or their associates as remuneration (inc. superannuation) for the Managing Director, Non-Executive Director fees and Consulting fees. Cash balance Tesoro’s cash balance at 31 December 2025 was A$29.19 million and the Company had zero debt (excluding typical trade creditors). Unmarketable Parcel Facility Post the end of the Quarter on 19 January 2026, the Company announced that it has established a Share Sale Facility for holders of Unmarketable Parcels of shares in the Company ( Facility). As at market close on 16 January 2026 (Record Date), an Unmarketable Parcel of shares in the Company is any shareholding of 406 shares or less, based on the closing price of $1.23 per Tesoro share. The Facility will close at 5:00pm AWST 4 March 2026. Authorised by the Board of Tesoro Gold Ltd. For more information: Company: Zeff Reeves, Managing Director Tesoro Gold Limited infoattesorogold.com.au For personal use only
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Tesoro Gold 15 ASX ANNOUNCEMENT 27 JANUARY 2026 About Tesoro Tesoro Gold Limited has discovered and defined the first Intrusive Related Gold System in Chile. The 1.82M oz Ternera discovery is in the Coastal Cordillera region of Chil e. The Coastal Cordillera region is host to multiple world-class copper and gold mines, has well established infrastructure, service providers and an experienced mining workforce. Large areas of the Coastal Cordillera remain unexplored due to the unconsolidated nature of mining concession ownership, but Tesoro, via its in-country network and experience has been able secure rights to the di strict-scale El Zorro gold project in-line with th e Company’s strategy. Tesoro’s 95% owned Chilean subsidiary owns 95.4% of the El Zorro Gold Project (see ASX announcement released 12 August 2025). Future Performance This announcement may contain certain forward-looking statements and opinions. Forward-looking statements, including projections, fore casts and estimates, are provided as a general guid e only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of the Company and which are subject to change without notice and could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance, and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Nothing contained in this announcement, nor any information made available to you is, or and shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Tesoro Gold. Competent Persons Statement The information in this report that relates to Mineral Resources is based on information compiled by Mr Lynn Widenbar (B.Sc.(Hons) Geology, M.Sc. FAusIMM, MAIG), a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Widenbar is acting as an independent consultant to Tesoro Gold Limited. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasia n Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. The Company confirms that it is not aware of any new information or data that materially affects the information contained the form and context in which the Competent Person’s findings are presented have not been materially modified from in the original announcement on 4 August 2025, and all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The information in this report that relates to Exploration Results is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) Applied Geology) MBA, MAIG). Mr Reeves is a member of the Australian Institute of Geoscientists and a Director and shareholder of the Company. Mr Reeves has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. For personal use only
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Tesoro Gold 16 ASX ANNOUNCEMENT 27 JANUARY 2026 APPENDIX 1: CONCESSION SCHEDULE EL ZORRO GOLD PROJECT EXPLORATION CONCESSIONS (95.4%* Tesoro Mining Chile SpA) Number Concession Name Date of Expiration Size (ha) Concession type 1 ZORRO 1B 10/Aug/2026 200 Exploration 2 ZORRO 2B 10/Aug/2026 200 Exploration 3 ZORRO 3B 10/Aug/2026 200 Exploration 4 ZORRO 4B 10/Aug/2026 100 Exploration 5 ZORRO 5B 10/Aug/2026 200 Exploration 6 ZORRO 6B 10/Aug/2026 200 Exploration 7 GOLD STORE 72A 21/Sep/2026 300 Exploration 8 GOLD STORE 71A 21/Sep/2026 300 Exploration 9 GOLD STORE 70A 21/Sep/2026 300 Exploration 10 GOLD STORE 69A 21/Sep/2026 300 Exploration 11 GOLD STORE 68A 21/Sep/2026 300 Exploration 12 GOLD STORE 67A 21/Sep/2026 300 Exploration 13 GOLD STORE 66A 27/Sep/2026 300 Exploration 14 BLOODY GOOD SHOT 13B 27/Sep/2026 200 Exploration 15 BLOODY GOOD SHOT 12B 27/Sep/2026 200 Exploration 16 BLOODY GOOD SHOT 11B 27/Sep/2026 200 Exploration 17 BLOODY GOOD SHOT 10B 27/Sep/2026 300 Exploration 18 BLOODY GOOD SHOT 9B 28/Sep/2026 300 Exploration 19 BLOODY GOOD SHOT 8B 5/Oct/2026 200 Exploration 20 BLOODY GOOD SHOT 7B 28/Sep/2026 100 Exploration 21 BLOODY GOOD SHOT 6B 5/Oct/2026 200 Exploration 22 BLOODY GOOD SHOT 5B 29/Oct/2026 200 Exploration 23 BLOODY GOOD SHOT 4B 29/Oct/2026 300 Exploration 24 BLOODY GOOD SHOT 3B 3/Oct/2026 300 Exploration 25 BLOODY GOOD SHOT 2B 3/Oct/2026 300 Exploration 26 BLOODY GOOD SHOT 1B 3/Oct/2026 300 Exploration 27 SIERRA PATACONES 42A 24/Oct/2026 300 Exploration 28 SIERRA PATACONES 41A 24/Oct/2026 300 Exploration 29 SIERRA PATACONES 40A 25/Oct/2026 300 Exploration 30 SIERRA PATACONES 39A 25/Oct/2026 300 Exploration 31 SIERRA PATACONES 38A 25/Oct/2026 300 Exploration 32 SIERRA PATACONES 37A 25/Oct/2026 300 Exploration 33 SIERRA PATACONES 36A 25/Oct/2026 300 Exploration 34 SIERRA PATACONES 35A 25/Oct/2026 300 Exploration 35 SIERRA PATACONES 34A 25/Oct/2026 300 Exploration 36 SIERRA PATACONES 33A 25/Oct/2026 300 Exploration 37 SIERRA PATACONES 32A 25/Oct/2026 300 Exploration 38 SIERRA PATACONES 31A 25/Oct/2026 300 Exploration 39 SIERRA PATACONES 30A 25/Oct/2026 300 Exploration 40 SIERRA PATACONES 29A 25/Oct/2026 300 Exploration 41 SIERRA PATACONES 28A 25/Oct/2026 300 Exploration 42 SIERRA PATACONES 27A 25/Oct/2026 300 Exploration 43 SIERRA PATACONES 26A 25/Oct/2026 300 Exploration For personal use only
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Tesoro Gold 17 ASX ANNOUNCEMENT 27 JANUARY 2026 Number Concession Name Date of Expiration Size (ha) Concession type 44 SIERRA PATACONES 25A 25/Oct/2026 300 Exploration 45 SIERRA PATACONES 24A 25/Oct/2026 300 Exploration 46 SIERRA PATACONES 23A 25/Oct/2026 300 Exploration 47 SIERRA PATACONES 21A 26/Oct/2026 300 Exploration 48 SIERRA PATACONES 20A 24/Oct/2026 300 Exploration 49 SIERRA PATACONES 19A 20/Oct/2026 300 Exploration 50 SIERRA PATACONES 18A 24/Oct/2026 300 Exploration 51 SIERRA PATACONES 17A 24/Oct/2026 300 Exploration 52 SIERRA PATACONES 16A 24/Oct/2026 300 Exploration 53 SIERRA PATACONES 14A 24/Oct/2026 300 Exploration 54 SIERRA PATACONES 13A 24/Oct/2026 300 Exploration 55 VACAS FLACAS 28A 26/Oct/2026 300 Exploration 56 VACAS FLACAS 27A 26/Oct/2026 300 Exploration 57 SIERRA PATACONES 2A 28/Oct/2026 300 Exploration 58 SIERRA PATACONES 3A 28/Oct/2026 300 Exploration 59 SIERRA PATACONES 4A 28/Oct/2026 300 Exploration 60 SIERRA PATACONES 5A 28/Oct/2026 300 Exploration 61 SIERRA PATACONES 6A 4/Nov/2026 300 Exploration 62 SIERRA PATACONES 7A 4/Nov/2026 300 Exploration 63 SIERRA PATACONES 9A 4/Nov/2026 300 Exploration 64 SIERRA PATACONES 10A 4/Nov/2026 300 Exploration 65 SIERRA PATACONES 11A 4/Nov/2026 300 Exploration 66 SIERRA PATACONES 12A 24/Nov/2026 300 Exploration 67 SIERRA PATACONES 43A 24/Nov/2026 300 Exploration 68 SIERRA PATACONES 44A 24/Nov/2026 300 Exploration 69 SIERRA PATACONES 45A 24/Nov/2026 300 Exploration 70 SIERRA PATACONES 46A 24/Nov/2026 300 Exploration 71 SIERRA PATACONES 47A 24/Nov/2026 300 Exploration 72 SIERRA PATACONES 48A 24/Nov/2026 300 Exploration 73 SIERRA PATACONES 49A 29/Nov/2026 300 Exploration 74 SIERRA PATACONES 50A 24/Nov/2026 300 Exploration 75 SIERRA PATACONES 51A 24/Nov/2026 300 Exploration 76 SIERRA PATACONES 52A 24/Nov/2026 300 Exploration 77 SIERRA PATACONES 53A 24/Nov/2026 300 Exploration 78 SIERRA PATACONES 54A 24/Nov/2026 300 Exploration 79 SIERRA PATACONES 55A 24/Nov/2026 300 Exploration 80 SIERRA PATACONES 56A 24/Nov/2026 300 Exploration 81 SIERRA PATACONES 60A 28/Oct/2026 300 Exploration 82 GOLD STORE 13A 22/Sep/2026 300 Exploration 83 GOLD STORE 12A 21/Sep/2026 300 Exploration 84 GOLD STORE 9A 22/Sep/2026 300 Exploration 85 GOLD STORE 7A 21/Sep/2026 300 Exploration 86 GOLD STORE 5A 21/Sep/2026 300 Exploration 87 GOLD STORE 4A 21/Sep/2026 300 Exploration 88 GOLD STORE 3A 21/Sep/2026 300 Exploration 89 GOLD STORE 2A 21/Sep/2026 300 Exploration 90 GOLD STORE 1A 21/Sep/2026 300 Exploration For personal use only
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Tesoro Gold 18 ASX ANNOUNCEMENT 27 JANUARY 2026 Number Concession Name Date of Expiration Size (ha) Concession type 91 GOLD STORE 35A 22/Sep/2026 300 Exploration 92 GOLD STORE 31A 22/Sep/2026 300 Exploration 93 GOLD STORE 27A 22/Sep/2026 300 Exploration 94 GOLD STORE 21A 21/Sep/2026 300 Exploration 95 GOLD STORE 19A 21/Sep/2026 300 Exploration 96 GOLD STORE 18A 21/Sep/2026 300 Exploration 97 GOLD STORE 17A 21/Sep/2026 300 Exploration 98 GOLD STORE 16A 21/Sep/2026 300 Exploration 99 GOLD STORE 8A 22/Sep/2026 300 Exploration 100 GOLD STORE 65A 18/Nov/2026 300 Exploration 101 GOLD STORE 64A 18/Nov/2026 300 Exploration 102 GOLD STORE 63A 18/Nov/2026 300 Exploration 103 GOLD STORE 62A 18/Nov/2026 300 Exploration 104 GOLD STORE 61A 18/Nov/2026 300 Exploration 105 GOLD STORE 60A 18/Nov/2026 300 Exploration 106 GOLD STORE 59A 21/Nov/2026 300 Exploration 107 GOLD STORE 58A 21/Nov/2026 300 Exploration 108 GOLD STORE 57A 21/Nov/2026 300 Exploration 109 GOLD STORE 56A 21/Nov/2026 200 Exploration 110 GOLD STORE 55A 21/Nov/2026 300 Exploration 111 GOLD STORE 54A 21/Nov/2026 300 Exploration 112 GOLD STORE 53A 21/Nov/2026 300 Exploration 113 GOLD STORE 52A 16/Nov/2026 300 Exploration 114 GOLD STORE 51A 14/Nov/2026 300 Exploration 115 GOLD STORE 50A 14/Nov/2026 300 Exploration 116 GOLD STORE 49A 14/Nov/2026 300 Exploration 117 GOLD STORE 48A 18/Nov/2026 300 Exploration 118 GOLD STORE 47A 4/Nov/2026 300 Exploration 119 GOLD STORE 46A 4/Nov/2026 300 Exploration 120 GOLD STORE 45A 4/Nov/2026 300 Exploration 121 GOLD STORE 44A 4/Nov/2026 300 Exploration 122 GOLD STORE 43A 4/Nov/2026 300 Exploration 123 GOLD STORE 42A 4/Nov/2026 300 Exploration 124 GOLD STORE 41A 4/Nov/2026 300 Exploration 125 GOLD STORE 40A 4/Nov/2026 300 Exploration 126 GOLD STORE 39A 22/Nov/2026 300 Exploration 127 GOLD STORE 38A 21/Nov/2026 300 Exploration 128 GOLD STORE 37A 21/Nov/2026 300 Exploration 129 GOLD STORE 34A 21/Nov/2026 300 Exploration 130 GOLD STORE 33A 21/Nov/2026 300 Exploration 131 GOLD STORE 30A 21/Nov/2026 300 Exploration 132 GOLD STORE 29A 21/Nov/2026 300 Exploration 133 GOLD STORE 26A 22/Nov/2026 300 Exploration 134 GOLD STORE 25A 22/Nov/2026 300 Exploration 135 SIERRA PATACONES 61A 29/Nov/2026 300 Exploration 136 SIERRA PATACONES 62A 29/Nov/2026 300 Exploration 137 SIERRA PATACONES 63A 29/Nov/2026 300 Exploration For personal use only
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Tesoro Gold 19 ASX ANNOUNCEMENT 27 JANUARY 2026 Number Concession Name Date of Expiration Size (ha) Concession type 138 SIERRA PATACONES 66A 29/Nov/2026 300 Exploration 139 SIERRA PATACONES 67A 29/Nov/2026 300 Exploration 140 SIERRA PATACONES 70A 29/Nov/2026 300 Exploration 141 SIERRA PATACONES 71A 29/Nov/2026 300 Exploration 142 SIERRA PATACONES 75A 29/Nov/2026 300 Exploration 143 SIERRA PATACONES 76A 29/Nov/2026 300 Exploration 144 SIERRA PATACONES 79A 29/Nov/2026 300 Exploration 145 SIERRA PATACONES 82A 29/Nov/2026 300 Exploration 146 POTRERO 1 7/Dec/2026 300 Exploration 147 POTRERO 2 7/Dec/2026 300 Exploration 148 POTRERO 3 2/Dec/2026 300 Exploration 149 POTRERO 4 2/Dec/2026 300 Exploration 150 POTRERO 5 6/Dec/2026 300 Exploration 151 POTRERO 6 6/Dec/2026 300 Exploration 152 POTRERO 7 6/Dec/2026 300 Exploration 153 POTRERO 9 9/Dec/2026 300 Exploration 154 POTRERO 12 5/Dec/2026 300 Exploration 155 POTRERO 23 6/Dec/2026 300 Exploration 156 POTRERO 24 6/Dec/2026 300 Exploration 157 POTRERO 25 6/Dec/2026 300 Exploration 158 POTRERO 26 6/Dec/2026 200 Exploration 159 POTRERO 27 6/Dec/2026 300 Exploration 160 POTRERO 29 6/Dec/2026 300 Exploration 161 POTRERO 67 16/Mar/2027 300 Exploration 162 POTRERO 68 16/Mar/2027 300 Exploration 163 POTRERO 69 16/Mar/2027 300 Exploration 164 POTRERO 70 16/Mar/2027 300 Exploration 165 POTRERO 71 16/Mar/2027 300 Exploration 166 POTRERO 72 16/Mar/2027 300 Exploration 167 POTRERO 73 14/Mar/2027 300 Exploration 168 POTRERO 77 14/Mar/2027 100 Exploration 169 POTRERO 78 14/Mar/2027 100 Exploration 171 POTRERO 32 26/Apr/2027 200 Exploration 172 POTRERO 33 19/Apr/2027 200 Exploration 173 POTRERO 34 26/Apr/2027 300 Exploration 174 POTRERO 37 19/Apr/2027 300 Exploration 175 POTRERO 40 26/Apr/2027 300 Exploration 176 POTRERO 41 19/Apr/2027 300 Exploration 177 POTRERO 42 21/Apr/2027 200 Exploration 178 POTRERO 43 18/Apr/2027 200 Exploration 179 POTRERO 50 21/Apr/2027 300 Exploration 180 POTRERO 53 19/Apr/2027 300 Exploration 181 POTRERO 58 21/Apr/2027 300 Exploration 182 PUNTA DE DIAMANTE 3B 6/Sep/2027 300 Exploration 183 PUNTA DE DIAMANTE 2B 6/Sep/2027 300 Exploration 184 PUNTA DE DIAMANTE 1B 6/Sep/2027 200 Exploration 185 LA NEGRA COJA 19B 6/Sep/2027 200 Exploration For personal use only
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Tesoro Gold 20 ASX ANNOUNCEMENT 27 JANUARY 2026 Number Concession Name Date of Expiration Size (ha) Concession type 186 LA NEGRA COJA 18B 6/Sep/2027 300 Exploration 187 LA NEGRA COJA 17B 6/Sep/2027 300 Exploration 188 LA NEGRA COJA 15B 6/Sep/2027 300 Exploration 189 LA NEGRA COJA 14B 6/Sep/2027 300 Exploration 190 LA NEGRA COJA 13B 6/Sep/2027 300 Exploration 191 LA NEGRA COJA 12B 6/Sep/2027 200 Exploration 192 LA NEGRA COJA 11B 6/Sep/2027 300 Exploration 193 LA NEGRA COJA 8B 6/Sep/2027 300 Exploration 194 LA NEGRA COJA 7B 6/Sep/2027 300 Exploration 195 LA NEGRA COJA 6B 6/Sep/2027 200 Exploration 196 LA NEGRA COJA 5B 6/Sep/2027 300 Exploration 197 LA NEGRA COJA 4B 6/Sep/2027 200 Exploration 198 LA NEGRA COJA 3B 6/Sep/2027 300 Exploration 199 LA NEGRA COJA 2B 6/Sep/2027 300 Exploration 200 LA NEGRA COJA 1B 6/Sep/2027 200 Exploration 202 Buzzard 1, 1 al 300 N/A Constituted 300 Exploitation 203 Buzzard 2, 1 al 300 N/A Constituted 300 Exploitation 204 Buzzard 3, 1 al 300 N/A Constituted 300 Exploitation 205 Buzzard 4, 1 al 300 N/A Constituted 300 Exploitation 206 LEON DOS 1-30 N/A Constituted 300 Exploitation 207 LEON UNO 1-30 N/A Constituted 300 Exploitation 208 LAS COQUETAS 1/10 N/A Constituted 100 Exploitation 209 PATON DOS 1/29 N/A Constituted 230 Exploitation 210 PATON UNO 1/29 N/A Constituted 240 Exploitation 211 CALDERILLA 1, 1 AL 10 N/A Constituted 100 Exploitation 212 CALDERILLA 2, 1 AL 10 N/A Constituted 100 Exploitation 213 CALDERILLA 3, 1 AL 10 N/A Constituted 100 Exploitation 214 CALDERILLA 4, 1 AL 10 N/A Constituted 100 Exploitation 215 CALDERILLA 5, 1 AL 10 N/A Constituted 100 Exploitation 216 CALDERILLA 6, 1 AL 10 N/A Constituted 100 Exploitation 217 CALDERILLA 7, 1 AL 10 N/A Constituted 100 Exploitation 218 CALDERILLA 8, 1 AL 10 N/A Constituted 100 Exploitation 219 CALDERILLA 9, 1 AL 10 N/A Constituted 100 Exploitation 220 CALDERILLA 10, 1 AL 10 N/A Constituted 100 Exploitation 221 CALDERILLA 11, 1 AL 10 N/A Constituted 100 Exploitation 222 CALDERILLA 12, 1 AL 10 N/A Constituted 100 Exploitation 223 CALDERILLA 13, 1 AL 10 N/A Constituted 100 Exploitation 224 CALDERILLA 14, 1 AL 10 N/A Constituted 100 Exploitation 225 CALDERILLA 15, 1 AL 10 N/A Constituted 100 Exploitation 226 CALDERILLA 16, 1 AL 10 N/A Constituted 100 Exploitation 227 CALDERILLA 17, 1 AL 10 N/A Constituted 76 Exploitation 228 CALDERILLA 18, 1 AL 10 N/A Constituted 36 Exploitation 229 CALDERILLA 19, 1 AL 10 N/A Constituted 100 Exploitation 230 CALDERILLA 20, 1 AL 10 N/A Constituted 91 Exploitation 231 CALDERILLA 21, 1 AL 10 N/A Constituted 76 Exploitation 232 CALDERILLA 22, 1 AL 10 N/A Constituted 100 Exploitation 233 CALDERILLA 23, 1 AL 10 N/A Constituted 100 Exploitation For personal use only
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Tesoro Gold 21 ASX ANNOUNCEMENT 27 JANUARY 2026 Number Concession Name Date of Expiration Size (ha) Concession type 234 TAKEO SEGUNDA 1 AL 20 N/A Constituted 100 Exploitation 235 TAKEO TERCERA 1 AL 20 N/A Constituted 100 Exploitation Notes: 1. Constituted exploitation concessions have no expiry. For personal use only