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CALGARY – TheNewswire - May 8, 2026 -  San Lorenzo Gold Corp. ("San Lorenzo " or the "Corporation ") (TSXV: SLG) is pleased to announce further assay results from the recently completed drilling program at the Arco de Oro target on San Lorenzo’s flagship Salvadora property in the mega-porphyry belt of Chile. The full assay results from Hole SAL 09-25 and partial results from SAL 10–25 - that included 102.3 metres of 1.33 g/t gold - targeted the “NW extension" of the Arco de Oro trend, with the drilling having returned intercepts in porphyry style mineralization. Importantly, holes 9 and 10 on the NW extension were significant step-outs from San Lorenzo’s previous drilling at Arco de Oro – a full 3.9 km step-out from the closest prior drill hole at Arco de Oro.

Commenting on the assays from holes SAL 09 and 10-25, Terence Walker, San Lorenzo’s VP of Exploration, commented: “These holes indicate the presence of a much larger system within the Arco de Oro trend than earlier thought.  It would appear that we are penetrating the upper layers of a gold-rich mineralized porphyry copper-gold system which warrants immediate follow-up drilling to further delineate the intrusive complex that hosts the system discovered in SAL 09 and SAL 10-25”.

Commenting on reporting the partial results of Hole SAL 10-25, Al Kroontje, San Lorenzo’s CEO commented: “While complete results for Hole 10 are still pending, San Lorenzo elected to release the currently available assays immediately, given their significance. The results reported to date, particularly when viewed alongside Hole 9, confirm the presence of substantial porphyry mineralization and further strengthens our confidence in the broader system. Importantly, a meaningful portion of Hole 10 assays remain outstanding at depths where significant intercepts were obtained in Hole 9.  Arco de Oro was already an impressive mineralized system, given its long strike length.  These new results at the NW extension, which we will also refer to as the “San Juan” portion of the system in the future, show much larger scale potential than we had previously considered”.

Arco de Oro Holes 9 & 10

Results from SAL 09 – 25 and partial results from SAL 10 – 25, holes drilled on the NW extension of the Arco de Oro trend, are presented in Tables 1 and 2 below:

Note : results for hole SAL 09-25, between a depth of 223 and 542 metres were previously reported by San Lorenzo on March 2, 2026.  Results above 223 metres and below 542 metres in SAL 09-25, and all results reported from SAL-10-25 in this release, are newly received.

Table 1:  SAL 09–25 Assay Results

Table 2: SAL 10-25 Assay Results

NOTE: assays have only been received to a depth of 348.0 m – remainder are pending.  Hole drilled to 570.0 m .

Figure 1 - Section across a portion of IP line D8 indicating the location of Holes SAL 09-25

 and SAL 10-25 and depicting the mineralized intercepts obtained.

Note: SAL 10-25 assay results below 348.0 m have not yet been received.

Click Image To View Full Size

The substantial funding recently secured by San Lorenzo enabled management to expand the scope of exploration at Arco de Oro beyond the extensive epithermal vein systems, which extend over 6 kilometers of strike as evidenced at surface by historic, shallow artisanal workings. The enhanced program now also includes testing of induced polarization (“IP”) anomalies, broadening San Lorenzo’s exploration approach and increasing exposure to potential new discovery opportunities across the targets.

Management has long held the view that the strong IP chargeability/resistivity features evident in San Lorenzo’s historic IP data – features that were duplicated in last summer’s IP program in the NW extension area of Arco de Oro – likely indicate intrusive sources responsible for the epithermal systems’ creation.  That view has been substantiated by the results of Holes SAL 09-25 and 10-25.

San Lorenzo is not yet in possession of assay results below 348 metres in hole SAL 10-25.  Hole SAL 10-25 encountered similar mineralization as seen in hole SAL 09-25.  In SAL 10-25, potassic alteration continued to strengthen and dominate towards the bottom of the hole, below currently received assay results with significant multi-directional pyrite-chalcopyrite rich veins within essentially dioritic intrusives and dykes indicating multi-episodic mineralization events in a gold-rich porphyry copper-gold setting.  In Hole 10-25, grades continued to improve with depth.  Visual indications from deeper core indicate strong chalcopyrite rich mineralization with associated potassic alteration still evident at the bottom of the hole (assays pending) which terminated at a depth of 574 metres due to drilling rig limitations.

Additional Assays and Drilling

San Lorenzo expects assay results from the 5 ½ holes that have already been drilled on Arco de Oro – upon which assay results are not yet available – to be reported on a regular basis.  San Lorenzo is committed to providing stakeholders with regular updates as assay results are obtained.

San Lorenzo has finalized the permitting material for the upcoming Phase 7 drilling program at Salvadora.  The process of construction followed by rig mobilization is expected to commence within approximately 30 days.

Metals Investor Forum Participation

San Lorenzo is pleased to confirm that it will be participating in the Metals Investor Forum being held today and tomorrow at the JW Marriott Parq in Vancouver.

Management will be on hand throughout the two-day event to meet with shareholders, analysts, existing and prospective investors to discuss the Corporation’s strategy, the Salvadora project generally, and the recently completed drilling campaign at Salvadora.

San Lorenzo’s CEO, Al Kroontje, will be presenting on a panel hosted by Eric Coffin of HRA Advisory.

Presentation Details:

• Date: Friday, May 8, 2026  

• Time: 12:00 noon Pacific (15:00 p.m. Eastern)  

For more information on the Metals Investor Forum, please visit: www.metalsinvestorforum.com

For those that are unable to attend in person, the presentation can be watched in real time via live feed (or subsequently via replay) by visiting https://metalsinvestorforum.com/virtual-live-stream/

Qualified Person

The scientific and technical information contained in this 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 Instrument 43-101.

Testing Procedures

Samples consisting of 50% of the HQ core are delivered to the ALS Laboratories in Copiapó by San Lorenzo staff for preparation which consists of drying and crushing to a 2 mm mesh and then pulverized.  The sample material is then delivered to ALS’s facilities in Lima, Peru for gold analysis using the fire assay method.  Samples also analysed by aqua-regia digestion to analyse for other elements including Ag and Cu. San Lorenzo notes that the correlation between sample intervals and true widths are unknown as the systems are still being modeled.

Drill Hole and Assay Data

Drill collar data, including individual assay results from each of the holes presented in this news release, will be made available in the coming days on San Lorenzo’s website:   www.sanlorenzogold.ca under the Salvadora sub-heading “Drill Hole and Assay Data”.

About San Lorenzo

San Lorenzo is focused on advancing its flagship Salvadora property located in Chile’s mega-porphyry belt.  Drilling results at Salvadora - from 4 different targets so far - have convinced management that several gold and copper enriched epithermal and/or porphyry style systems may be contained within the Salvadora property.

For further information, please contact:

Terence (Terry) Walker, VP Exploration 

Email: twalker@goldenrock.cl

Ph: + 56 9 5179 5902

Or:

Roger Blair or Jeff Wilson, Acuity Advisory Corp.

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 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 news release.

Cautionary Note Regarding Forward-Looking Information

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of San Lorenzo .  All statements included herein other than statements of historical fact are forward-looking information Such forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, San Lorenzo does not assume any obligation to update or revise them to reflect new events or circumstances.

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