TESORO GOLD LTD — Director's Dealing 2022

Sep 8, 2022

A S X A N N O U N C E M E N T 9 S E P T E M B E R 2 0 2 2

ASX: TSO | ACN 106 854 175

Change in Director’s Interest Notice

Tesoro Gold Limited ( Tesoro or the Company ) (ASX:TSO, OTCQB:TSORF) provides a Change in Director’s Interest Notice for Non-executive Director Mr Geoffrey McNamara.

Shares in Tesoro form part of a portfolio of securities held by Linkwood Holdings Pte Ltd (Linkwood) a Singaporean registered company, of which Mr McNamara is a Director and substantial shareholder.

Due to a corporate restructure, Tesoro shares held within Linkwood are being distributed to Linkwood shareholders, beneficiaries and associated entities. Consequently, 8,200,000 Tesoro shares have been transferred to Tanamera Resources Pte Ltd, a Company of which Mr Mcnamara is sole director and shareholder.

The balance of Linkwood’s Tesoro shareholding has been distributed to other Linkwood shareholders, beneficiaries and associated entities, of which Mr McNamara has no interest.

Authorised by the Board of Tesoro Gold Ltd.

For more information:

Company:

Investor Relations:

Zeff Reeves Managing Director Evan Smith Tesoro Gold Limited Advisiry Zeff.reeves@tesorogold.com.au Evan.smith@advisir.com.au

About Tesoro

Tesoro Gold Limited was established with a strategy of acquiring, exploring, and developing mining projects in the Coastal Cordillera region of Chile. The Coastal Cordillera region is host to multiple world class copper and gold mines, has well established infrastructure, service providers and an experienced mining workforce. Large areas of the Coastal Cordillera remain unexplored due to the unconsolidated nature of mining concession ownership, but Tesoro, via its in-country network and experience has been able secure rights to a district scale gold project in-line with the Company’s strategy. Tesoro’s 95% owned Chilean subsidiary owns 85% of the El Zorro Gold Project.

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+61 8 9322 1587 | info@tesorogold.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesorogold.com.au

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Tesoro Gold Limited
ABN	91 106 854 175

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Geoffrey William McNamara
Date of last notice	11 July 2022

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Linkwood Holdings Pte Ltd1 Tanamera Resources Pte Ltd2 1. Geoffrey McNamara is a director and substantial shareholder of Linkwood Holdings Pte Ltd 2. Geoffrey McNamara is the sole director and shareholder of Tanamera Resources Pte Ltd
Date of change	5 - 6 September 2022

• See chapter 19 for defined terms.

Appendix 3Y Page 1

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	25,410,546 Fully Paid Ordinary Shares1 65,387,064 Fully Paid Ordinary Shares2 10,805,000 Class C Performance Rights, subject to performance-based vesting conditions as set out in Notice of Meeting dated 21 October 2019 and expiring 48 months after completion of acquisition of Tesoro Resources Limited2 10,805,000 Class D Performance Rights, subject to performance-based vesting conditions as set out in Notice of Meeting dated 21 October 2019 and expiring 60 months after completion of acquisition of Tesoro Resources Limited2 1. Held by Tanamera Resources Pte Ltd (a company registered in Singapore). Geoffrey McNamara is the sole director and shareholder of Tanamera Resources Pte Ltd. 2. Held by Linkwood Holdings Pte Ltd (a company registered in Singapore). Geoffrey McNamara is a director and substantial shareholder of Linkwood Holdings Pte Ltd.
Class	Fully Paid Ordinary Shares
Number acquired	8,200,000 Fully Paid Ordinary Shares
Number disposed	65,387,064 Fully Paid Ordinary Shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	8,200,000 Shares acquired for a value of $0.045 per Share. 42,200,000 Shares disposed for a value of $0.045 per Share. 23,187,064 Shares disposed for a value of $0.040 per Share.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

33,610,546 Fully Paid Ordinary Shares1 10,805,000 Class C Performance Rights, subject to performance-based vesting conditions as set out in Notice of Meeting dated 21 October 2019 and expiring 48 months after completion of acquisition of Tesoro Resources Limited2 10,805,000 Class D Performance Rights, subject to performance-based vesting conditions as set out in Notice of Meeting dated 21 October 2019 and expiring 60 months after completion of acquisition of Tesoro Resources Limited2 1. Held by Tanamera Resources Pte Ltd (a company registered in Singapore). Geoffrey McNamara is the sole director and shareholder of Tanamera Resources Pte Ltd. 2. Held by Linkwood Holdings Pte Ltd (a company registered in Singapore). Geoffrey McNamara is a director and substantial shareholder of Linkwood Holdings Pte Ltd.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Off-market distribution of securities, following a corporate restructure of Linkwood Holdings Pte Ltd.

Part 2 – Change of director’s interests in contract

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed

• See chapter 19 for defined terms.

Appendix 3Y Page 3

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Were the interests in the securities or contracts No. detailed above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade to proceed during this period? If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011