• Three concurrent, fully funded, diamond drilling programmes commenced, for a total of approximately 38,000m
• Maiden drilling at La Brea confirms significant gold system
• Detailed mapping, sampling and gridded soil sampling programmes at Pena Blanca define three compelling gold targets

Tesoro Gold Limited (ASX: TSO, OTCQB: TSORF) has reported on its activities for the quarter ended 31 December 2025. The key highlights include: Exploration and Drilling - Three concurrent, fully funded, diamond drilling programmes commenced, for a total of approximately 38,000m, including infill, extensional and new discovery drilling. Significant assay results were returned from the infill and extensional drilling at the Ternera Deposit. - Maiden drilling at the La Brea prospect, located 15km north of Ternera, confirmed a prospective, gold bearing structural corridor with all five holes intersecting gold mineralisation. - Detailed mapping, sampling and gridded soil sampling programmes at the Pena Blanca target, located 5km south of Ternera, have defined three compelling gold targets along the Pena Blanca gold trend. Corporate - Settled a $34 million placement to accelerate the development of the El Zorro Project. - Completed a consolidation of the Company's share capital on a 15 for 1 basis. - Appointment of Ms Sarah Wilson as Company Secretary. - Cash balance of A$29.19 million and zero debt as at 31 December 2025.

Tesoro has an extensive, fully funded diamond drilling program of approximately 38,000m underway across the El Zorro Gold Project, which is designed to grow the Ternera Deposit, provide data for advanced technical studies, and deliver new, district-scale discoveries.

Tesoro has an exciting year ahead as it continues to expand and derisk the Ternera Deposit, target new regional gold discoveries, and advance the world-class El Zorro Gold Project through advanced technical studies.