Tesoro Gold's activities and key highlights for the quarter ended 31 March 2024

Tesoro Gold Limited (ASX: TSO, OTCQB: TSORF) has reported significant findings from its activities for the quarter ended 31 March 2024. The company's surface sampling results have confirmed the presence of two new outcropping gold anomalies, La Brea and Sierra del Portrero prospects, approximately 15km north of Ternera within the known 20km long north-south gold corridor. Tesoro Gold's cash balance at the end of the quarter stood at A$2.07 million with zero debt.

Tesoro Gold Managing Director, Zeff Reeves on exploration results and future plans

We are pleased with the results received from surface sampling and target generation activities completed during the 2023 exploration program. Two new, large, outcropping high-grade gold anomalies have been identified at La Brea and Sierra del Portrero, further adding to known mineralisation within the 20km long north-south gold corridor at El Zorro. Follow-up surface sampling confirmed further prospectivity with a continuous, wide, outcropping gold anomaly up to 200m wide. Further assessment and exploration of La Brea will commence to build on these highly positive first-pass results. Our primary exploration focus remains on targeting these high priority targets outlying Ternera, producing further exploration successes which has the potential to culminate in an update to our Mineral Resource endowment.

Summary of Tesoro Gold's activities and outlook

Tesoro Gold's latest activities have led to the identification of new gold anomalies at the El Zorro project, with significant high-grade results from surface sampling. The company's primary exploration focus remains on targeting high priority targets outlying Ternera, with the potential to update its Mineral Resource endowment. Tesoro Gold's cash balance at the end of the quarter was A$2.07 million with zero debt, providing a solid financial position for future exploration and development activities.