Tesoro Minerals Announces Upsizing of Private Placement to C$1 Million

"Not for distribution to United States newswire services or for dissemination in the United States."

Tesoro Minerals Corp. (TSXV: TES,OTC:NNGVF) ("Tesoro" or the "Company") is pleased to announce that, in response to continued investor interest, it has further increased the size of its previously announced non-brokered private placement (the "Private Placement") to aggregate gross proceeds of up to C$1,000,000.

This marks the second increase in the size of the Private Placement, which was originally announced on September 3, 2026, for gross proceeds of up to C$600,000 and increased to C$750,000 in a news release issued earlier today. Following additional investor interest, the Company has elected to further increase the offering.

The Private Placement will now consist of the sale of up to 10,000,000 common shares of the Company (the "Shares") at a price of C$0.10 per Share, for aggregate gross proceeds of up to C$1,000,000. All other terms of the Private Placement remain unchanged.

A finder's fee may be payable in cash on a portion of the Private Placement of up to 6% of the gross proceeds raised from certain purchasers, in accordance with the policies of the TSX Venture Exchange ("TSXV") and applicable securities laws.

The Company plans to use the net proceeds of the Private Placement to advance its Rumichaca and Cerro Macho properties in Peru.

Use of Proceeds

• Rumichaca and Cerro Macho exploration: initial fieldwork, data compilation, geological mapping and sampling, and IP ground geophysical surveys;

• Community and social engagement: stakeholder and community engagement activities associated with the Company's exploration programs; and

• General working capital and corporate purposes.

The Company confirms that none of the proceeds of the Private Placement will be used for Investor Relations Activities, as such term is defined in the policies of the TSXV, and no payments will be made to Non-Arm's Length Parties of the Company.

The Private Placement remains subject to certain customary closing conditions, including receipt of all necessary regulatory approvals, including TSXV approval. The Company may close the Private Placement in one or more tranches.

All Shares issued pursuant to the Private Placement will be subject to a four-month and one-day hold period from the applicable date of issuance, in accordance with applicable Canadian securities laws and the policies of the TSXV.

About Tesoro Minerals Corp.

Tesoro Minerals Corp. (TSXV: TES,OTC:NNGVF) is a junior exploration company focused on the discovery and advancement of high-quality precious and base metal projects in Peru. The Company leverages strong in-country expertise and a disciplined, value-accretive approach to project acquisition and exploration.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements concerning the completion, timing and terms of the Private Placement; the anticipated use of proceeds; the Company's exploration plans and activities at its Rumichaca and Cerro Macho properties; and the receipt of regulatory approvals.

Forward-looking information is based on the Company's current expectations, assumptions, estimates and beliefs and is subject to known and unknown risks and uncertainties. There can be no assurance that the Private Placement will be completed on the terms described herein, or at all, or that the Company will receive the anticipated proceeds. There can also be no assurance that the Company's proposed exploration activities will proceed as planned or that such activities will result in the discovery or advancement of mineral resources or mineral deposits.

Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking information include, without limitation, the Company's ability to complete the Private Placement; the receipt of required regulatory approvals; changes in market conditions; the availability of capital; fluctuations in metal prices; exploration and development risks; uncertainties relating to geological information and exploration results; permitting and regulatory risks; community and social relations; political, economic and legal conditions in Peru; competition; and other risks and uncertainties described from time to time in the Company's public disclosure documents available under the Company's profile on SEDAR+.

Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information, except as required by applicable securities laws.

Not for distribution to United States newswire services or for dissemination in the United States of America

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to or for the account or benefit of U.S. Persons. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons absent registration under the U.S. Securities Act and applicable state securities laws or an applicable exemption from such registration requirements. "United States" and "U.S. Person" have the meanings assigned to them in Regulation S under the U.S. Securities Act.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314276