Mr. Brandon Gaspar reports

SAN LORENZO FILES SECOND AMENDED AND RESTATED OFFERING DOCUMENT

Further to San Lorenzo Gold Corp.'s news release dated Oct. 16, 2026, entitled "San Lorenzo Announces Upsize of Private Placement to up to $80 Million," it has filed a second amended and restated offering document in connection with its best efforts private placement of up to 15,094,400 common shares of the company at a price of $5.30 per offered share for aggregate gross proceeds of up to $80,000,320. The offered shares include up to 9,433,900 offered shares for aggregate gross proceeds of up to $49,999,670, being issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935.

The second amended and restated offering document has been filed to provide that, in addition to being offered to purchasers resident in all the provinces of Canada (except Quebec) pursuant to the LIFE, the LIFE shares may now also be offered: (i) in the United States (as defined in Regulation S under the United States Securities Act of 1933, as amended (the 1933 Act)) by way of private placement pursuant to available exemptions from the registration requirements of the 1933 Act and applicable state securities laws, and (ii) to purchasers outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.

For further details of the offering, the terms of which otherwise remain unchanged, please refer to the upsize news release and to the second amended and restated offering document.

There is a second amended and restated offering document dated Oct. 29, 2026, related to the LIFE offering that can be accessed under the company's profile at SEDAR+ and on the company website. Prospective investors should read this offering document before making an investment decision.

About San Lorenzo Gold Corp.

San Lorenzo Gold is a Canadian mineral exploration company advancing its 100-per-cent-owned Salvadora project in Chile's Atacama region, approximately 15 kilometres from Codelco's El Salvador copper-gold mine. Salvadora hosts multiple gold and copper-gold discoveries and mineralized centres identified through drilling, geophysics and surface exploration across the property.

San Lorenzo is focused on expanding known mineralized systems, testing a growing pipeline of exploration targets, and systematically defining the scale and potential of Salvadora's broader mineralized systems.

We seek Safe Harbor.