San Lorenzo Gold Announces Final Closing of Private Placement and Amended Advisory Engagement Agreement

(TheNewswire)

CALGARY – TheNewswire - January 20, 2026 - San LorenzoGold Corp. ("SanLorenzo" or the "Corporation") (TSXV: SLG) is pleased to advise, furtherto its news releases dated December 11, 15, 19 and 29, 2025, that ithas completed the second and final closing (“Final Closing”) of its previouslyannounced private placement of units (“Units”) and issued 5,567,193 Unitsfor gross proceeds of $3,451,659.66, bringing the total raised underthe upsized private placement to $5,999,999.78 (the “Offering”).  Each Unit iscomprised of one common share of the Corporation (“Common Share”) and one half of ashare purchase warrant (“Warrant”).  Each full Warrant entitles the holder toacquire an additional Common Share at a price of $0.80 for a period oftwo (2) years from the date of issuance, subject to acceleration (forfurther details, please see the Corporation's news release datedDecember 11, 2025). In connection with the Final Closing, theCorporation paid cash commissions totaling $179,408.90 and issued15,862 brokers warrants (“BrokerWarrants”). Each Broker Warrant entitles the holder toacquire a Common Share at a price of $0.80 for a period of one (1)year from the date of issuance.

The upsized proceeds of the Offering will be used to continueexploration efforts on San Lorenzo’s flagship Salvadora property aswell as for general working capital purposes including the expenses ofthe Offering.  The Common Shares, Warrants and Broker Warrants aresubject to a four-month and one-day hold period, and the Offeringremains subject to the final acceptance of the TSX Venture Exchange(the “Exchange”).

The Corporation also announces that, further to its news release datedDecember 11, 2025, it will enter into an amended advisory engagementagreement (“Agreement”)with Argonaut Corporate Finance Limited (“Argonaut”) pursuant to which SanLorenzo has granted 1,000,000 stock options (“Options”) of the Corporation toArgonaut pursuant to the Corporation's stock option plan.  TheOptions are exercisable at a price of $0.80 per share for a period oftwo (2) years and were issued in place of the advisory warrantspreviously issuable to Argonaut as part of the compensation payable inconnection with the Agreement, subject to the final acceptance of theExchange.

About San Lorenzo

San Lorenzo is focused on advancing its flagship Salvadora propertylocated in Chile’s mega-porphyry belt with a phase 6 drillingprogram currently underway on 2 of 5 targets identified at Salvadora. Results obtained from prior phases of drilling - conducted on 4different targets so far - have convinced management that severalsignificant gold and copper enriched epithermal and/or porphyry stylesystems are contained within the Salvadora property.

For further information, pleasecontact:

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 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, including statements related to the use of proceedsand approval of the TSX Venture Exchange to the Offering and theAgreement.  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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