Mr. Scott McLean reports

TESORO MINERALS ANNOUNCES UPSIZING OF PRIVATE PLACEMENT TO $750,000

Further to Tesoro Minerals Corp.'s news release dated Sept. 3, 2026, the company has increased the size of its previously announced non-brokered private placement from gross proceeds of up to $600,000 to gross proceeds of up to $750,000.

The private placement will now consist of the sale of up to 7.5 million common shares of the company at a price of 10 cents per share, for aggregate gross proceeds of up to $750,000.

The company has received additional investor interest following the announcement of the private placement and has increased the size of the financing accordingly.

A finder's fee may be payable in cash on a portion of the private placement of up to 6 per cent of the gross proceeds raised from certain purchasers, in accordance with the policies of the TSX Venture Exchange 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;
• 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 TSX-V, 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 the receipt of all necessary regulatory approvals, including the approval of the TSX-V. 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 TSX-V.

About Tesoro Minerals Corp.

Tesoro Minerals 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.

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