San Lorenzo Gold Announces Additional Proposed Private Placement

(TheNewswire)

CALGARY / TheNewswire / February 23, 2026 / San LorenzoGold Corp. ("SanLorenzo" or the "Corporation") (TSXV: SLG) is pleased to announce that,in connection with its previously announced non-brokered privateplacement of units for gross proceeds of up to $15,000,000 priced at $2.51 per unit (the “Initial Offering” -see San Lorenzo news release dated February 19, 2026), due tostrong investor demand, the Corporation is pleased to announce anadditional private placement for gross proceeds of up to an additional$5,000,000 (the “AdditionalOffering”, and together with the Initial Offering, the“Offerings”).

The Offerings are fully subscribed.

The Additional Offering, to be completed on a best-efforts basis, willinvolve the issuance of units (“Units”).  Each Unit will be priced at $2.64 and willconsist of one common share of the Corporation (“Common Share”) and one-half of aCommon Share purchase warrant (“Warrant”).  Each full Warrant will entitle the holder toacquire an additional Common Share at a price of $3.50 for a period ofone year from the date of closing.

San Lorenzo may pay a cash commission or finder'sfee to qualified non-related parties of up to 6% of the gross proceedsof the Additional Offering payable together with warrants representing6% of the Common Shares issued in connection with the AdditionalOffering (“BrokerWarrants”). Each Broker Warrant will entitlethe holder to purchase one additional Common Share of the Company at aprice of $2.64 for a period of 12 months following closing of theOfferings.

The proceeds of the Offerings will be used to continueexploration efforts on San Lorenzo’s flagship Salvadora property aswell as for general working capital purposes including the expenses ofthe Offerings.

The Common Shares, Warrants and Broker Warrants issuedpursuant to the Offerings will be subject to a four month and one dayhold period. The Offerings remain subject to the approval of the TSXVenture Exchange.

About San Lorenzo

San Lorenzo is focused on advancing its flagship Salvadora propertylocated in Chile’s mega-porphyry belt.  Results obtained from priordrilling programs conducted on 4 different targets have convincedmanagement that several significant gold and copper enrichedepithermal and porphyry style systems are contained within theSalvadora property.

For further information, pleasecontact:

Al Kroontje

Email: al@slgold.ca

Ph: +1 403 607 4009

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.

Cautionary Note RegardingForward-Looking Information

This news release may containforward-looking information that involves substantial known andunknown risks and uncertainties, most of which are beyond the controlof San Lorenzo.  Such statements include the use of proceeds,obtaining TSX Venture Exchange approval and closing of the proposedOfferings.  All statements included herein other than statements ofhistorical fact are forward-looking information. Such forward-lookinginformation involves various risks and uncertainties. There can be noassurance that such information will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such information. Any forward-looking statements aremade as of the date of this release and, other than as required byapplicable securities laws, San Lorenzo does not assume any obligationto update or revise them to reflect new events orcircumstances.

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