Caballo muerto

---

Location and Traits: The target is situated in the north central portion of the Salvadora property – as outlined above. It is approximately 1.5 x 1 km in size. Extensive surface sampling of exposed outcrops returned grades that ultimately spurred the two drilling programs conducted over the past 2 years. 

Work to Date: Between 2011 and 2021, surface sampling and IP surveys were completed. San Lorenzo drilled 5 holes in the zone during the 2022 drilling program which included discovery hole SAL-03-2022 which returned an intercept of 112m of 1.44 g/t Au. The 2022 drill program was followed by a 4-hole drilling program during 2023. Assay results from the 2023 drilling program were released during October 2023.

Geophysics has not been conducted over the entire Salvadora property with only a total of 36.9 line-kilometers of Induced Polarization (“IP”) surveys completed. The figure below shows the extent of the IP surveys. The results from these surveys define several strong high contrast chargeability anomalies with associated moderate resistivity. 

Results: The 2023 drilling program encountered extensions to the gold bearing zone in hole SAL 03-2022 - both to the east and to the west such that approximately 300m of strike length has been investigated. All holes encountered mineralization including significant gold and copper intercepts indicating to management the potential for the existence of a large underlying porphyry system. 

 Next Steps: A program of detailed surface sampling and trenching to the north-west - in the direction of the strongest IP anomalies - is warranted to expand the target zone and establish hole locations prior to the next drill phase.  This investigative work is already underway in the field.