Tesoro Minerals Closes Agreement with GlobeTrotters to Acquire Rumichaca and Cerro Macho in Peru

1005, 409 Granville Street Vancouver, BC, V6C 1A5

www.tesorominerals.com

For Immediate Release March 23, 2026

Tesoro Minerals Closes Agreement with GlobeTrotters to Acquire Rumichaca and Cerro

Macho in Peru

VANCOUVER, British Columbia, March 23, 2026 (TSX-V: TES) – Tesoro Minerals Corp.,

(“Tesoro” or the “Company”) is pleased to announce that it has successfully completed the

acquisition of the Rumichaca and Cerro Macho properties from Globetrotters Resource Group

Inc. (“Globetrotters”) which was previously announced on July 8, 2025 (the “Transaction”).

The Transaction was completed pursuant to the terms of an agreement dated July 7, 2025 ,

under which the Company acquired 100% interest in two prospective epithermal gold exploration

projects in Peru . The consideration provided by the Company to Globetrotters includes the

issuance of 1,425,000 common shares (“Common Shares”) of Tesoro at a deemed price of

$0.08 per Common Share for an aggregate value of $114,000 and a 2% Net Smelter Return

royalty (NSR) to Globetrotters; Tesoro may repurchase 1% of the NSR for $1,000,000 at any

time prior to the completion of a Feasibility Study.

Project Highlights

Rumichaca Cerro Macho

Area 900 ha 2,500 ha

Geological

Setting

High-sulphidation lithocap with

pervasive advanced-argillic alteration.

Extensive lithocap with silica-alunite

alteration and local vuggy silica.

Key Results Rock sampling: up to 0.39 g/t Au with

anomalous Cu-Mo.

Rock sampling: up to 0.42 g/t Au with

elevated As and Ba.

Both properties show alteration and geochemical signatures typical of the upper levels of large,

high-sulphidation epithermal and porphyry systems. The Company’s initial goal is to define

chargeability/resistivity anomalies and drill targets beneath shallow cover.

1005, 409 Granville Street Vancouver, BC, V6C 1A5

www.tesorominerals.com

Initial Exploration Plan

The Company plans to continue detailed lithological and alteration mapping, followed by geophysical

surveys across both properties. The geophysical program will consist of approximately 60 line

kilometres of induced polarization and magnetic surveys. The total cost of the program is estimated

at approximately CDN$300,000, inclusive of required community engagement and social initiatives

in the project areas. The Company believes it is adequately funded to complete this initial exploration

program following its recently completed private placement (see news release dated February 4,

2026).

TSXV Approval

The Company has received conditional approval of the TSX Venture Exchange for the Transaction.

Qualified Person

The technical elements of this news release have been approved by Mr. Scott McLean, P.Geo. (PGO),

CEO and Director of Tesoro Minerals Corp., and a Qualified Person under National Instrument 43-

101.

About Tesoro Minerals Corp.

Tesoro Minerals Corp. (TSX-V: TES) is a junior exploration company focused on discovering and

advancing high-quality precious and base-metal projects in Peru. The Company leverages strong in-

country expertise and a disciplined, value-accretive approach to project acquisition and exploration.

On Behalf of the Board of Directors

(signed) “Scott McLean”

Interim President & CEO

For further information contact:

Tesoro Minerals Corp.

Tel: (705) 669-1777

Cautionary Statements regarding Forward-Looking Information

This press release contains “forward- looking information” within the meaning of applicable Canadian

securities laws.

These statements relate to future events or future performance. The use of words such as "could", "intend",

"expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to

matters that are not historical facts are i ntended to identify forward-looking information and are based on

the Company’s current expectations and assumptions regarding future events. Actual results may differ

materially from those expressed or implied by such forward-looking information.

1005, 409 Granville Street Vancouver, BC, V6C 1A5

www.tesorominerals.com

Forward-looking information in this press release includes, without limitation, statements regarding the

completion of the Transaction, the intended use of proceeds, planned exploration activities, and the receipt

of regulatory approvals. Such forward-looking information involves known and unknown risks, uncertainties

and other factors.

There can be no assurance that such forward- looking information will prove to be accurate, and actual

results and future events could differ materially from those anticipated.

Important factors that could cause actual results to differ materially from the Company's plans or

expectations include risks relating to the availability of capital and financing, general economic, market or

business conditions, regulatory approvals, and risks inherent in the exploration and development of mineral

properties, as well as those risk factors set out in the Company’s public disclosure documents filed on

SEDAR+.

Except as required by applicable securities laws, the Company undertakes no obligation to update or revise

any forward-looking information, whether as a result of new information, future events or otherwise.