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TESORO GOLD LTD Investor Presentation 2021

Jun 14, 2021

65957_rns_2021-06-14_de71fc2d-1640-408a-ba98-c8b2d8d92d30.pdf

Investor Presentation

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A S X A N N O U N C E M E N T

1 5 J U N E 2 0 2 1

ASX: TSO | ACN 106 854 175

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Tesoro Presenting at MST Access Australia Micro & Small Caps Conference, 16 June 2021

Tesoro Resources Limited ( Tesoro or the Company ) (ASX:TSO) advises that the Company is presenting at the MST Access Australia Micro & Small Caps Conference on Wednesday 16 June 2021 at 2:00pm AEST.

Please find attached the presentation to be given by Tesoro’s Managing Director, Mr Zeff Reeves.

To join, please click the webinar link below:

  • https://mstfinancial au.zoom.us/j/84899630666

Tesoro’s presentation can be downloaded from:

  • www.tesororesources.com.au/announcement category/presentations/

This ASX Announcement has been approved for release by Zeff Reeves, Managing Director.

For more information, please contact:

Zeff Reeves Peter Taylor Managing Director Investor Relations [email protected] [email protected] 0412 036 231

About Tesoro Resources

Tesoro Resources 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.

1

+61 8 9322 1587 | [email protected] | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au

Aerial View of the Ternera Prospect Looking North

El Zorro Gold Project Presentation June 2021 ASX:TSO

Tesoro Resources Limited ACN 106 854 175

DISCLAIMER

This presentation and any accompanying verbal presentation (together the Presentation) are confidential and have been prepared by Tesoro Resources Limited (Tesoro or the Company) and approved by the Board of the Company. The information contained in the Presentation (Information) is summary only and should be read in conjunction with any other documents provided to you by the Company. The Information is current as at 14 June 2021 and the Company does not undertake to provide any additional or update information, whether as a result of new information, future events or results or otherwise. By receiving the Presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer.

The Company has prepared the Presentation based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Tesoro, or related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, affiliates, agents or advisers (Agents) guarantee or make any representations or warranties, express or implied, as to or take responsibility for, the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Tesoro does not represent or warrant that this Presentation is complete or that it contains all material information about Tesoro or which a prospective investor or purchaser may require in evaluating a possible investment in Tesoro or acquisition of shares. To the maximum extent permitted by law, Tesoro and its Agents expressly disclaim any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of information contained in this Presentation, or otherwise arising in connection with it.

Any forward-looking statements in this Presentation, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of Tesoro and which are subject to change without notice and could cause the actual results, performance or achievements of Tesoro to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance and recipients of this Presentation are cautioned not to place undue reliance on such forward-looking statements.

The information contained in this Presentation is for information purposes only, does not constitute investment or financial product advice (nor taxation, accounting or legal advice) and is not intended to be used as the basis for making an investment decision. In providing this Presentation, Tesoro has not considered the objectives, financial position or needs of any particular recipients. Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances.

This Presentation is not a prospectus, product disclosure statement or other offer document under Australian law or any other law (and will not be lodged with the Australian Securities and Investments Commission or any other foreign regulator) and is not, and does not constitute, an invitation or offer of securities for subscription, purchase or sale in any jurisdiction. In particular, this Presentation does not constitute an invitation or offer of securities for subscription, purchase or sale in the United States or any other jurisdiction in which such an offer would be illegal. The securities referred to in this Presentation have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly in the United States.

The information in this Presentation is strictly confidential. It may not be disclosed, reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of Tesoro.

Competent Person’s Statements

The information in this Presentation that relates to Exploration Results is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) Applied Geology) MBA, MAIG). Mr Reeves is a member of the Australian Institute of Geoscientists and Managing Director and shareholder of the Company. Mr Reeves has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this Presentation of the matters based on this information in the form and context in which it appears.

The information in this report that relates to Geophysical Results is based on information compiled by Dr Jayson Meyers who is a Fellow of the Australian Institute of Geoscientists. Dr Meyers is a consultant to Tesoro Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

The Company has released all material information that relates to Exploration Results for the El Zorro Gold Project, on a continuous basis to the ASX and in compliance with JORC 2012. The Company confirms that it is not aware of any new information that materially affects the content of this ASX release. A list of all Material ASX releases referred to in this announcement are listed at Appendix 4 of this release.

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Tesoro Resources Corporate Presentation June 2021

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18 MONTHS ON THE ASX

MANAGEMENT FOCUSED ON RAPIDLY ADVANCING THE EL ZORRO GOLD PROJECT

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▪ A$31.6M Raised Since March 2020 ASX Listing ▪ >87% of Capital invested into the Ground

  • 52 km of Diamond Drilling completed

▪ Currently 6 Rigs Drilling 24/7

  • Ternera Mineralised Footprint Grown by >300%

  • ▪ Regionally Dominant ~555 km[2] Ground Position

  • 5 New Gold Targets Identified

  • Multiple Untested Ternera Analogues

  • Funded & Poised for Growth in 2021

  • Clear Development Pathway

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Tesoro Resources Corporate Presentation June 2021

3

TESORO RESOURCES – AN EXPERIENCED TEAM

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BOARD & MANAGMENT

John Toll - Chairman

John is a Partner at Azure Capital Limited & has >15 years of experience in corporate advisory, focusing mainly on equity financing transactions across a range of industries including mining, technology, general industrials, biotech & infrastructure.

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Zeffron Reeves - Managing Director

Geologist with >20 years of experience in the resources sector on resource projects from greenfields exploration, discovery, definition & feasibility, construction, production to closure. Zeff previously Managing Director of ASX listed Metallum Ltd which had a number of development & operational projects in Chile. He has also held senior management positions with companies developing projects in Brazil. He has had previous exploration success identifying & delineating new gold districts in Brazil and Chile.

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Geoff McNamara - Non-Executive Director

25 years of international resource sector experience as a Geologist, Project Manager & Fund Manager. Previously worked in Private Equity (FUM USD800 million) & as a Director of Societe General’s Mining Finance Team in New York. Operational roles include Project Manager, Senior Mine Geologist & Mine Geologist for Ivanhoe Mines, Lion Ore International & Western Mining Corporation.

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Sergio Uribe - Country Manager, Chile

Administrative, management & development professional with experience in Chile. He has worked on numerous resource projects from greenfields exploration, discovery, production, closure, retreatment & tailings reclamation. Part of the development team with Fortescue Metals Group during development of its Pilbara mining operations, he has 10 years of resource sector experience. Sergio has represented numerous foreign companies investing into resource projects in Chile & was Commercial Manager of Metallum Chile Ltd. where he was involved in the acquisition & development of their operation in Chile. Prior to this he was General Manager of Acorn Mining Chile Ltd & Country Manager for Cleveland Mining Chile Ltd. Sergio has a Business Management degree from Universidad del Desarrollo & is a member of the civil police & a military reserve officer.

Shannon Coates - Company Secretary

Qualified lawyer with >20 years’ experience in corporate law & compliance. She is currently Non-Executive Director of ASX listed companies Vmoto Limited, Bellevue Gold Limited & Company Secretary to a number of public unlisted & listed companies.

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Tesoro Resources Corporate Presentation June 2021

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EL ZORRO GOLD PROJECT LOCATION

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  • Tesoro owns 85% of El Zorro

  • Fully diluting JV

  • ~555 km[2] Project Area

  • El Zorro Identified as an Intrusive Related Gold System (IRGS)

  • ▪ Mineralisation Identified to date has a Strike Length >5km ▪ Open in All Directions

  • World Class Mining Region

▪ Candelaria (Lundin Mining), Inca de Oro (Codelco), Mantoverde (Mitsubishi) & Maricunga (Kinross) 90km radius

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Tesoro Resources Corporate Presentation June 2021

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EL ZORRO GOLD PROJECT – LEVERAGING EXISTING INFRASTRUCTURE

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  • Regionally Dominant Concession Holding

  • Region III (Atacama Desert), Chile

  • Low Altitude 600m to 1,600m ASL

  • Pan American Highway 10km

▪ Pacific Ocean (processing H2O) 10km

  • Caldera Port 57km

▪ Atacama Airport 76km

  • Copiapo City 130km

  • Multiple Power, H2O & Transport Options within 60km

El Zorro Gold Project Concession area 555 km[2] of an emerging IRGS Region

Yellow diamond – Ternera Deposit

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Tesoro Resources Corporate Presentation June 2021

6

TERNERA – DEFINING A MAJOR GOLD SYSTEM

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A’
B’
C’
D’
A
B
C
D
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  • Tesoro has Drilled >52,000m at Ternera

  • Gold Mineralisation Associated with Multiple, Parallel, Elongate Tonalite Intrusions

  • To Date Mineralisation Identified over a Large Area

  • 1,000m North-South

  • 550m East-West

  • Outcropping at Surface to >400m depth

  • Mineralisation Open in all Directions, Large Extensions to North East, results include:

  • ZDDH00017 86.54m @ 2.29g/t Au from 167.55m including; 55.50m @ 3.63g/t Au from 182.70m

  • ZDDH00025 121.55m @ 1.32g/t Au from 49.00m including; 12.27m @ 4.98g/t Au from 148.00m

  • ZDDH00049 111.50m @ 1.17g/t Au from 124.00m including; 27.50m @ 3.57g/t Au from 154.00m

  • ZDDH00057 22.00m @ 1.03g/t Au from 22.00m and; 77.00m @ 1.13g/t Au from 274.00m

  • ZDDH00069 267.00m @ 1.12g/t Au from 147.00m including; 45.00m @ 4.02g/t Au from 292.00m

  • ZDDH00075 220.00m @ 0.86g/t Au from 76.00m including; 39.00m @ 2.73g/t Au from 270.00m

  • ZDDH000124 71.00m @ 1.63g/t Au (116g/m) from 152.00m including: 19.00m @ 5.07g/t Au from 152.00m;

  • To date 14 holes have returned >100 gm drill intercepts*

Ternera Prospect

1000m strike drilled Drilled to >400m depth >750m strike surface mineralisation Multiple high grade fault zones Section Lines in Blue

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*Full table of significant intercepts presented at Appendix 1

Tesoro Resources Corporate Presentation June 2021

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TERNERA – DEFINING A MAJOR GOLD SYSTEM

▪ Drilling constantly expanding Ternera

▪ Majority of Mineralisation Tonalite Hosted

▪ Parallel Ore Zones Linked by NW & E trending Faults

▪ Faults Mineralise Tonalites & Sedimentary Country Rocks

▪ North South faults define multiple high grade zones

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Ternera Prospect Schematic Sections Looking North West

Sections of modelled tonalite, faults and gold grade shells at 0.20g/t and 0.50 g/t Au cut-offs

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Tesoro Resources Corporate Presentation June 2021

8

TERNERA – MULTIPLE HIGH GRADE GOLD ZONES

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AA A’A’
A’A’ ▪ Ternera over 1km long
▪
zones
▪
>1.00g/t Au
▪
to >4.00g/t Au
▪
▪
Extensions
▪ Open in all Directions
AA
▪ High Grade Core Emerging
>2.50g/t Au
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  • Multiple continuous mineralised zones

  • ▪ Multiple Drill Results >100m @ >1.00g/t Au

  • ▪ Three North Trending High Grade Zones 30m to 70m thick @ 2.00g/t to >4.00g/t Au

  • Mineralised zones up to 200m wide from surface to over 400m deep

  • Modelling has Defined Multiple Extensions

  • High Grade Core Emerging >2.50g/t Au

Long Section through the MF350 Fault looking west showing gold endowment (gram metres)

Ternera Modelled Geology and Grade Shells at 520m RL 520m RL Plan slice through the Ternera modelled tonalite, faults and gold grade shells at 0.20g/t and 0.50 g/t Au cut-offs

Drill pierce points located at midpoint of drill hole intervals. Gram Metres are calculated from downhole width x Au g/t

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Tesoro Resources Corporate Presentation June 2021

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EL ZORRO GOLD PROJECT SYSTEMATIC EXPLORATION DEFINING A MAJOR GOLD SYSTEM

  • Surface Mapping & Sampling has Defined New Targets

  • Tesoro has only Scratched the Surface

  • ▪ Outcropping Mineralisation at Drone Hill, Toro Blanco, Ternera North, Toro Gordo, Ternera East & Buzzard ▪ Drone Hill – First Drill hole returned 11.50m @ 1.13g/t Au including 1.57m @ 7.37g/t Au

  • ▪ Toro Gordo – First Drilling returned high grade results including; 1.00m @ 69.70g/t Au 4.00m @ 8.04g/t Au 2.00m @ 3.30g/t Au

  • Surface Channel Sampling includes:

  • Ternera East – 3.00m @ 8.33g/t Au, 12.00m @ 0.95g/t Au 3.00m @ 2.31g/t Au

  • Ternera North – 16.60m @ 1.33g/t Au

  • Toro Gordo – 17.00m @ 1.48g/t Au, including 1.00m @ 22.30g/t Au 23.00m @ 2.16g/t Au, including 1.00m @ 42.70g/t Au 40.00m @ 1.23g/t Au, including 8.00m @ 3.14g/t Au 18.00m @ 1.23g/t Au, including 4.00m @ 3.97g/t Au

  • Buzzard – 26.00m @ 1.62g/t Au including 8.00m @ 3.08g/t Au

El Zorro Project

District map showing gold targets with proven mineralisation

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Tesoro Resources Corporate Presentation June 2021

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EL ZORRO GOLD PROJECT – GEOPHYSICS HIGHLIGHTS TARGETS & DEMONSTRATES SCALE

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  • IP Anomalies Correlate well to Drilling Results*

  • Multiple Untested IP Targets Identified

  • Ternera East Identified from GAIP

  • GAIP highlights gold bearing North-South Faults are continuous over 2km north of Ternera

  • Surface Sampling, Drilling & Geophysics Define System

  • ▪ Untested Regional Potential

  • Rapidly Growing Large Scale Gold Project

El Zorro Targets

Gradient Array IP Chargeability Image and Drilling

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  • Refer ASX Announcement 1 December 2020

Tesoro Resources Corporate Presentation June 2021

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EL ZORRO GOLD PROJECT STUDIES & DEVELOPMENT

El Zorro is Ideally Located to Leverage off Existing Infrastructure & Support Services

  • Order of Magnitude Conceptual Studies & Long Lead Activities Commenced:

  • Metallurgy, Environment, Surface Easement Corridors, Infrastructure Access & Options;

  • Initial Metallurgical Studies from Ternera:

    • Free Milling Material;

    • Gold Recoveries up to 99%;

    • Amenable to Gravity Concentration up to 75% Gravity Recovery; &

    • Initial Testwork Indicates Conventional Gravity Concentration with CIL.

Tesoro Focused & Well Positioned to Progress El Zorro through Development

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El Zorro access road looking west to Pacific Ocean & Pan American Hwy

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Tesoro Resources Corporate Presentation June 2021

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TESORO – DEFINED WORKPLAN

Ternera

El Zorro District

Regional Exploration

Studies and Development

  • Resource Definition Drilling

  • Maiden Resource Estimate

  • Continue to expand Ternera

  • Additional Zones of Mineralisation Discovered

  • Additional Zones of Mineralisation being Delineated

  • Initial Drill Testing of Ternera East

  • Further Drill testing at Drone Hill

  • 4 Targets Remain Undrilled

  • Mapping, Sampling & Geophysics to Define additional Targets

  • Regional Targeting to find Ternera Analogues

  • Identify causative Intrusions from Mapping & Geochemistry

  • Tesoro has First Mover Advantage

  • Detailed Metallurgical Testwork to Optimise Metallurgy

  • Environmental Studies

  • Infrastructure Studies to Optimise Power & H2O Options

  • Mining & Processing Studies for Scoping to PreFeasibility

  • IRGS System Potential for Multiple Deposits

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Tesoro Resources Corporate Presentation June 2021

13

CONTACT DETAILS

Zeffron Reeves, Managing Director

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Email: [email protected] Phone: +61 8 9322 1587

Web: www.tesororesources.com.au

Address: Suite 5 | 62 Ord Street | West Perth | WA 6005

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Tesoro Resources Corporate Presentation June 2021

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APPENDIX 1 EL ZORRO GOLD PROJECT SIGNIFICANT INTERCEPTS TABLE

Hole_ID From(m) To(m) Interval Au(g/t) Comments Hole_ID **From(m) ** To(m) **Interval ** Au(g/t) Comments Hole_ID From(m) To(m) Interval Au(g/t) Comments Hole_ID From(m) To(m) Interval Au(g/t) Comments Hole_ID From(m) To(m) Interval Au(g/t) Comments
ZDDH0001 5.00 119.00 114.00 0.35 ZDDH0009 4.00 6.00 2.00 1.39 ZDDH0017 44.00 74.00 30.00 0.94 ZDDH0028 14.00 14.75 0.75 3.23 ZDDH0034 17.00 28.00 11.00 0.79
ZDDH0001 5.00 15.00 10.00 0.55 including ZDDH0009 12.55 38.00 25.45 0.51 ZDDH0017 44.00 60.10 16.10 1.05 including ZDDH0028 21.00 28.00 7.00 0.85 ZDDH0034 23.00 24.00 1.00 4.59 including
ZDDH0001 5.00 51.30 46.30 0.45 including ZDDH0009 21.00 26.00 5.00 1.09 including ZDDH0017 44.00 47.00 3.00 4.27 including ZDDH0028 25.00 25.90 0.90 5.03 including ZDDH0034 27.00 28.00 1.00 1.77 including
ZDDH0001 12.00 13.00 1.00 1.64 including ZDDH0009 48.00 48.50 0.50 2.19 ZDDH0017 70.00 74.00 4.00 4.26 including ZDDH0028 42.00 49.00 7.00 0.61 ZDDH0034 62.22 63.34 1.12 2.85
ZDDH0001 14.30 15.00 0.70 2.35 including ZDDH0009 78.00 83.00 5.00 0.59 ZDDH0017 103.46 105.60 2.14 1.76 ZDDH0028 43.90 45.00 1.10 1.10 including ZDDH0034 87.00 92.84 5.84 1.12
ZDDH0001 33.64 39.00 5.36 0.97 including ZDDH0010 31.00 33.00 2.00 2.47 ZDDH0017 167.55 254.00 86.45 2.29 including ZDDH0029 29.50 243.00 213.50 0.73 ZDDH0034 89.00 91.00 2.00 2.45
ZDDH0001 44.30 51.30 7.00 0.67 including ZDDH0010 60.00 61.00 1.00 1.16 ZDDH0017 182.70 233.20 50.50 3.63 including ZDDH0029 29.50 93.00 63.50 1.81 including ZDDH0034 105.40 106.00 0.60 1.15
ZDDH0001 64.00 65.00 1.00 2.50 including ZDDH0010 66.00 67.00 1.00 1.04 ZDDH0017 183.22 206.22 23.00 7.20 including ZDDH0029 29.50 31.20 1.70 1.20 including ZDDH0034 116.00 117.00 1.00 1.17
ZDDH0001 75.50 79.00 3.50 0.89 including ZDDH0010 75.00 159.30 84.30 1.30 ZDDH0017 190.00 205.00 15.00 10.82 including ZDDH0029 43.00 48.00 5.00 2.76 including ZDDH0034 172.00 173.00 1.00 1.68
ZDDH0001 75.50 76.00 0.50 4.82 including ZDDH0010 75.00 104.00 29.00 2.95 including ZDDH0017 197.00 202.30 5.30 25.31 including ZDDH0029 56.64 61.84 5.20 3.36 including ZDDH0034 180.40 181.50 1.10 6.58
ZDDH0001 107.00 112.00 5.00 1.11 including ZDDH0010 82.50 86.45 3.95 4.97 including ZDDH0017 200.00 202.30 2.30 46.41 including ZDDH0029 72.00 80.00 8.00 1.24 including ZDDH0034 193.00 194.00 1.00 2.73
ZDDH0001 117.00 119.00 2.00 2.05 including ZDDH0010 91.00 102.00 11.00 4.70 including ZDDH0018 187.27 222.00 34.73 2.94 ZDDH0029 91.00 93.00 2.00 33.00 including ZDDH0034 202.00 203.00 1.00 2.12
ZDDH0002 5.70 68.00 62.30 0.54 ZDDH0010 93.00 97.00 4.00 8.50 including ZDDH0018 187.27 211.00 23.73 4.09 including ZDDH0029 121.00 130.70 9.70 0.53 ZDDH0035 67.00 68.00 1.00 2.67
ZDDH0002 8.80 24.30 15.50 1.15 including ZDDH0010 120.00 126.00 6.00 1.11 including ZDDH0018 197.00 199.70 2.70 22.21 including ZDDH0029 121.00 122.00 1.00 3.20 including ZDDH0035 81.10 110.34 29.24 1.05
ZDDH0002 8.80 14.00 5.20 1.96 including ZDDH0010 149.00 159.00 10.00 1.07 including ZDDH0018 189.00 204.00 15.00 5.99 including ZDDH0029 166.30 195.00 28.70 0.82 ZDDH0035 89.00 94.00 5.00 4.11 including
ZDDH0002 51.70 68.00 16.30 0.78 including ZDDH0011 176.00 274.30 98.30 1.58 ZDDH0019 21.00 89.52 68.52 0.47 ZDDH0029 180.00 195.00 15.00 1.33 including ZDDH0035 84.00 106.00 22.00 1.34 including
ZDDH0002 58.00 61.00 3.00 3.62 including ZDDH0011 181.70 212.00 30.30 3.03 including ZDDH0019 36.00 45.00 9.00 1.34 including ZDDH0030 5.20 6.40 1.20 0.74 ZDDH0035 144.00 155.00 11.00 1.15
ZDDH0003 21.00 77.30 56.30 0.50 ZDDH0011 196.40 212.00 15.60 3.87 including ZDDH0019 74.00 79.00 5.00 1.23 including ZDDH0030 50.00 76.00 26.00 0.69 ZDDH0035 153.00 155.00 2.00 4.41 including
ZDDH0003 21.00 27.00 6.00 1.96 including ZDDH0011 203.00 203.70 0.70 21.70 including ZDDH0020 87.30 87.60 0.30 3.33 ZDDH0030 66.00 76.00 10.00 1.54 including ZDDH0035 162.00 164.00 2.00 1.03
ZDDH0003 21.00 22.83 1.83 5.24 including ZDDH0011 203.00 212.00 9.00 5.07 including ZDDH0021 100.92 116.50 15.58 0.95 ZDDH0030 66.00 71.10 5.10 2.64 including ZDDH0035 199.00 200.00 1.00 1.76
ZDDH0003 37.20 43.00 5.80 1.27 including ZDDH0011 217.00 222.00 5.00 4.13 including ZDDH0021 107.50 112.00 4.50 1.24 including ZDDH0030 66.00 67.00 1.00 6.89 including ZDDH0035 192.00 238.00 46.00 0.72
ZDDH0003 47.30 48.00 0.70 2.00 including ZDDH0011 246.60 256.40 9.80 2.28 including ZDDH0021 100.92 101.70 0.78 8.44 including ZDDH0030 70.00 71.10 1.10 5.73 including ZDDH0035 224.00 238.00 14.00 1.86 including
ZDDH0003 64.00 77.30 13.30 0.41 including ZDDH0012 0.00 58.80 58.80 1.70 ZDDH0021 189.25 208.50 19.25 2.86 open downhole ZDDH0030 101.00 102.50 1.50 1.13 ZDDH0035 224.00 233.00 9.00 2.59 including
ZDDH0003 90.00 91.00 1.00 1.53 ZDDH0012 1.70 22.00 20.30 4.50 including ZDDH0021 189.25 201.30 12.05 4.25 including ZDDH0030 117.00 120.00 3.00 3.23 ZDDH0035 277.00 278.00 1.00 1.63
ZDDH0004 5.00 66.00 61.00 0.97 ZDDH0012 1.70 8.40 6.70 12.21 including ZDDH0021 189.25 195.40 6.15 7.37 including ZDDH0030 117.00 119.13 2.13 4.15 including ZDDH0036 74.00 125.00 51.00 1.07
ZDDH0004 56.00 66.00 10.00 4.53 including ZDDH0012 2.30 4.70 2.40 33.35 including ZDDH0021 193.90 195.40 1.50 20.82 including ZDDH0030 165.00 167.00 2.00 4.05 ZDDH0036 74.00 96.00 22.00 2.16 including
ZDDH0004 57.00 61.00 4.00 9.60 including ZDDH0012 17.60 22.00 4.40 2.00 including ZDDH0022 30.00 31.00 1.00 3.16 ZDDH0030 195.40 199.00 3.60 1.41 open downhole ZDDH0036 88.30 96.00 7.70 5.04 including
ZDDH0005 4.00 42.65 38.65 0.65 ZDDH0012 17.60 20.00 2.40 2.82 including ZDDH0022 78.00 119.17 41.17 1.38 ZDDH0030 202.95 203.90 0.95 5.12 open downhole ZDDH0036 104.00 105.00 1.00 2.33 including
ZDDH0005 4.00 32.00 28.00 0.84 including ZDDH0012 53.20 58.80 5.60 0.95 ZDDH0022 94.40 95.45 1.05 2.98 including ZDDH0031 72.00 303.00 231.00 0.83 ZDDH0036 114.00 115.00 1.00 2.84 including
ZDDH0005 9.80 28.00 18.20 1.17 including ZDDH0012 53.20 56.00 2.80 1.42 including ZDDH0022 105.00 119.17 14.17 3.25 including ZDDH0031 72.00 126.00 54.00 1.69 ZDDH0036 165.00 166.00 1.00 1.11
ZDDH0005 9.80 10.15 0.35 20.10 including ZDDH0012 151.80 152.20 0.40 2.29 ZDDH0022 105.00 110.32 5.32 6.54 including ZDDH0031 72.00 75.60 3.60 1.27 including ZDDH0036 215.00 216.00 1.00 1.60
ZDDH0005 51.60 52.00 0.40 2.03 ZDDH0013 0.00 3.00 3.00 0.83 ZDDH0023 146.70 151.00 4.30 7.25 ZDDH0031 100.00 104.44 4.44 1.04 including ZDDH0037 42.00 65.00 23.00 0.40
ZDDH0005 65.00 67.00 2.00 1.03 ZDDH0013 9.00 14.30 5.30 0.41 ZDDH0023 146.70 149.00 2.30 13.30 including ZDDH0031 100.00 125.00 25.00 3.36 including ZDDH0037 42.00 42.68 0.68 1.55 including
ZDDH0005 72.00 85.90 13.90 0.52 ZDDH0013 25.00 29.80 4.80 0.72 ZDDH0023 273.00 277.00 4.00 1.06 ZDDH0031 118.30 125.00 6.70 11.57 including ZDDH0037 56.00 65.00 9.00 0.70 including
ZDDH0005 72.00 75.00 3.00 1.90 including ZDDH0013 28.55 29.80 1.25 2.14 including ZDDH0023 276.00 277.00 1.00 3.32 including ZDDH0031 146.40 154.00 7.60 0.79 including ZDDH0037 56.00 57.00 1.00 2.47 including
ZDDH0005 72.00 73.00 1.00 4.32 including ZDDH0013 46.30 70.00 23.70 0.85 ZDDH0024 6.00 9.00 3.00 1.63 ZDDH0031 171.60 173.00 1.40 1.40 including ZDDH0037 62.00 64.00 2.00 1.32 including
ZDDH0005 100.60 102.00 1.40 2.07 ZDDH0013 46.30 51.50 5.20 1.24 including ZDDH0024 41.00 78.00 37.00 0.86 ZDDH0031 193.30 217.60 24.30 2.43 including ZDDH0037 149.00 172.00 23.00 0.82
ZDDH0005 130.00 132.60 2.60 0.66 ZDDH0013 51.25 65.35 14.10 1.08 including ZDDH0024 41.00 45.50 4.50 2.12 including ZDDH0031 193.30 208.00 14.70 3.77 including ZDDH0037 149.00 154.00 5.00 1.47 including
ZDDH0005 135.80 136.80 1.00 12.20 ZDDH0013 58.00 65.35 7.35 1.65 including ZDDH0024 44.10 45.50 1.40 5.93 including ZDDH0031 193.30 197.00 3.70 4.16 including ZDDH0037 162.00 172.00 10.00 0.92 including
ZDDH0005 0.00 88.00 88.00 0.15 ZDDH0013 102.00 104.00 2.00 0.79 ZDDH0024 54.50 57.00 2.50 1.87 including ZDDH0031 204.34 217.60 13.26 3.25 including ZDDH0037 162.00 168.00 6.00 1.04 including
ZDDH0006 2.40 3.00 0.60 0.75 including ZDDH0013 136.00 137.30 1.30 4.97 ZDDH0024 56.50 69.50 13.00 1.12 including ZDDH0031 204.34 208.00 3.66 10.76 including ZDDH0038 23.00 24.00 1.00 3.12
ZDDH0006 22.60 25.95 3.35 2.14 including ZDDH0013 165.00 173.60 8.60 1.60 ZDDH0024 66.00 69.50 3.50 2.53 including ZDDH0031 228.00 229.00 1.00 2.17 including ZDDH0038 74.20 113.00 38.80 0.49
ZDDH0006 24.00 25.00 1.00 6.10 including ZDDH0013 170.40 173.00 2.60 2.80 including ZDDH0024 155.00 169.00 14.00 3.06 ZDDH0031 248.00 263.90 15.90 1.04 including ZDDH0038 74.20 77.00 2.80 2.06 including
ZDDH0006 46.70 50.30 3.60 0.32 including ZDDH0014 15.30 70.60 55.30 1.01 ZDDH0024 162.20 163.50 1.30 19.72 including ZDDH0031 291.00 295.00 4.00 1.00 including ZDDH0038 92.00 93.00 1.00 4.39 including
ZDDH0006 61.10 64.02 2.92 0.42 including ZDDH0014 15.30 34.00 18.70 2.19 including ZDDH0024 161.80 167.00 5.20 6.97 including ZDDH0032 3.20 6.00 2.80 1.23 ZDDH0038 105.00 106.00 1.00 2.11 including
ZDDH0006 108.30 116.00 7.70 0.30 including ZDDH0014 15.30 26.30 11.00 3.40 including ZDDH0025 49.00 170.55 121.55 1.32 ZDDH0032 17.30 18.30 1.00 7.09 ZDDH0038 148.00 152.00 4.00 1.17 including
ZDDH0006 133.50 135.60 2.10 1.30 including ZDDH0014 23.00 26.30 3.30 6.18 including ZDDH0025 73.10 84.00 10.90 4.57 including ZDDH0032 43.50 44.00 0.50 5.70 ZDDH0038 178.00 186.00 8.00 0.50
ZDDH0006 148.00 151.80 3.80 0.59 including ZDDH0014 64.60 70.60 6.00 2.03 including ZDDH0025 75.00 82.00 7.00 6.14 including ZDDH0032 75.00 76.00 1.00 5.02 ZDDH0038 185.00 186.00 1.00 2.48 including
ZDDH0006 180.10 244.00 63.90 0.23 including ZDDH0014 64.60 67.35 2.75 5.00 including ZDDH0025 104.00 118.00 14.00 1.63 including ZDDH0032 128.00 204.00 76.00 0.93 ZDDH0038 200.00 208.10 8.10 1.12 including
ZDDH0006 180.10 181.10 1.00 0.55 including ZDDH0014 112.00 122.50 10.50 0.52 ZDDH0025 110.00 113.60 3.60 4.97 including ZDDH0032 128.00 140.00 12.00 1.39 including ZDDH0038 202.00 204.00 2.00 3.72 including
ZDDH0006 184.00 186.00 2.00 1.06 including ZDDH0014 115.00 117.00 2.00 1.75 including ZDDH0025 148.00 160.27 12.27 4.98 including ZDDH0032 132.63 135.00 2.37 4.30 including ZDDH0039 2.50 5.60 3.10 0.39
ZDDH0006 207.00 212.00 5.00 0.77 including ZDDH0014 177.20 179.00 1.80 2.37 ZDDH0025 148.00 170.55 22.55 2.98 including ZDDH0032 157.00 162.00 5.00 2.41 including ZDDH0039 78.70 81.00 2.30 1.43
ZDDH0006 226.00 227.00 1.00 0.55 including ZDDH0015 37.90 39.70 1.80 1.11 ZDDH0025 155.20 159.90 4.70 10.69 including ZDDH0032 171.00 174.80 3.80 1.92 including ZDDH0039 188.00 252.50 64.50 0.47
ZDDH0006 236.00 244.00 8.00 0.66 including ZDDH0015 91.90 132.70 40.80 0.37 ZDDH0026 92.00 110.00 18.00 1.36 ZDDH0032 178.30 197.00 18.70 1.57 including ZDDH0039 212.00 232.00 20.00 0.84 including
ZDDH0007 1.00 4.00 3.00 4.75 ZDDH0015 91.90 94.60 2.70 1.64 including ZDDH0026 105.40 110.00 4.60 4.99 including ZDDH0032 178.30 179.40 1.10 5.15 including ZDDH0039 212.00 218.00 6.00 1.49 including
ZDDH0007 39.00 66.20 27.20 0.70 ZDDH0015 112.00 116.00 4.00 1.13 including ZDDH0026 233.00 242.00 9.00 1.85 ZDDH0032 191.00 197.00 6.00 2.58 including ZDDH0039 226.00 227.00 1.00 3.86 including
ZDDH0007 39.00 58.00 19.00 0.80 including ZDDH0015 240.60 242.00 1.40 8.46 ZDDH0026 240.00 242.00 2.00 7.31 including ZDDH0033 40.00 68.00 28.00 1.22 ZDDH0039 237.00 238.00 1.00 2.30 including
ZDDH0007 104.85 110.00 5.15 0.34 ZDDH0015 265.90 269.00 3.10 0.64 ZDDH0027 176.00 206.50 30.50 0.40 ZDDH0033 57.00 67.00 10.00 3.17 including ZDDH0039 268.00 269.00 1.00 1.62 including
ZDDH0007 117.40 118.00 0.60 2.75 ZDDH0016 125.00 131.72 6.72 1.47 ZDDH0027 176.00 202.00 26.00 0.44 including ZDDH0033 59.00 63.00 4.00 5.96 including ZDDH0040 136.00 197.00 61.00 0.75
ZDDH0008 35.00 41.10 6.10 0.28 ZDDH0016 152.00 204.60 52.60 0.62 ZDDH0027 176.00 188.00 12.00 0.64 including ZDDH0033 100.00 104.00 4.00 1.51 ZDDH0040 136.00 152.00 16.00 1.96 including
ZDDH0008 58.00 59.00 1.00 1.43 ZDDH0016 188.10 194.00 5.90 3.30 including ZDDH0027 176.00 182.00 6.00 1.21 including ZDDH0033 134.70 137.00 2.30 1.27 ZDDH0040 136.00 146.00 10.00 2.61 including
ZDDH0016 188.58 188.90 0.32 31.30 including ZDDH0033 143.00 144.00 1.00 1.45 ZDDH0040 142.00 146.00 4.00 5.34 including
ZDDH0016 203.60 204.60 1.00 3.00 including ZDDH0040 160.00 164.00 4.00 0.95 including
ZDDH0016 281.00 290.00 9.00 0.36 ZDDH0040 161.00 162.00 1.00 2.84 including
ZDDH0016 287.50 290.00 2.50 0.77 including ZDDH0040 182.00 188.00 6.00 0.72 including
ZDDH0040 195.00 197.00 2.00 2.75 including
ZDDH0040 288.00 291.00 3.00 1.24 including
ZDDH0041 2.00 12.00 10.00 0.55
ZDDH0041 6.00 8.00 2.00 1.33 including
ZDDH0041 23.50 52.00 28.50 0.38
ZDDH0041 23.50 32.00 8.50 0.48 including
ZDDH0041 29.00 32.00 3.00 0.99 including

==> picture [88 x 53] intentionally omitted <==

Tesoro Resources Corporate Presentation June 2021

15

APPENDIX 1 - CONT’D EL ZORRO GOLD PROJECT SIGNIFICANT INTERCEPTS TABLE

Hole_ID From(m) To(m) Interval Au(g/t) Comments Hole_ID From(m) To(m) Interval Au(g/t) Comments Hole_ID From(m) To(m) Interval Au(g/t) Comments Hole_ID From(m) To(m) Interval Au(g/t) Comments Hole_ID From(m) To(m) Interval Au(g/t) Comments
ZDDH0041 40.00 46.00 6.00 0.61 ZDDH0051 249.00 347.00 98.00 0.95 ZDDH0058 34.00 35.00 1.00 1.29 ZDDH0067 5.00 37.40 32.40 3.05 including ZDDH0075 76.00 335.90 259.90 0.70
ZDDH0041 106.20 108.00 1.80 3.49 ZDDH0051 251.00 282.00 31.00 1.55 including ZDDH0058 237.00 250.00 13.00 0.47 ZDDH0067 31.00 37.00 6.00 15.18 including ZDDH0075 89.00 309.00 220.00 0.86 including
ZDDH0041 127.50 128.00 0.50 29.90 ZDDH0051 251.00 265.00 14.00 2.71 including ZDDH0058 237.00 241.00 4.00 0.69 including ZDDH0067 81.00 82.00 1.00 1.87 ZDDH0075 97.00 100.00 3.00 2.63 including
ZDDH0041 140.00 145.00 5.00 5.91 ZDDH0051 258.00 264.00 6.00 4.86 including ZDDH0058 248.00 250.00 2.00 1.49 including ZDDH0067 91.00 96.00 5.00 0.53 ZDDH0075 124.00 127.00 3.00 2.40 including
ZDDH0041 141.65 143.50 1.85 15.22 including ZDDH0051 260.00 261.00 1.00 27.60 including ZDDH0059 61.00 62.00 1.00 1.02 ZDDH0067 107.00 121.00 14.00 0.47 ZDDH0075 137.00 140.00 3.00 1.49 including
ZDDH0042 112.00 127.00 15.00 0.68 ZDDH0051 264.00 265.00 1.00 9.85 including ZDDH0059 194.50 282.00 87.50 0.72 ZDDH0067 108.00 109.00 1.00 1.27 including ZDDH0075 153.50 155.00 1.50 5.99 including
ZDDH0042 126.00 127.00 1.00 5.64 including ZDDH0051 303.00 320.00 17.00 1.03 including ZDDH0059 196.00 244.50 48.50 1.02 including ZDDH0067 119.00 121.00 2.00 1.17 including ZDDH0075 178.00 187.00 9.00 1.02 including
ZDDH0043 5.30 56.00 50.70 0.45 ZDDH0051 317.00 318.00 1.00 5.99 including ZDDH0059 207.00 241.60 34.60 1.29 including ZDDH0067 136.00 139.00 3.00 2.13 ZDDH0075 217.00 220.00 3.00 1.18 including
ZDDH0043 5.30 22.50 17.20 0.94 including ZDDH0051 317.00 332.50 15.50 1.19 including ZDDH0059 229.00 241.60 12.60 2.21 including ZDDH0068 0.00 7.00 7.00 0.45 ZDDH0075 236.00 238.00 2.00 1.56 including
ZDDH0043 9.50 13.00 3.50 3.44 including ZDDH0051 328.00 347.00 19.00 1.25 including ZDDH0059 196.00 198.00 2.00 1.76 including ZDDH0068 56.00 117.70 61.70 0.30 ZDDH0075 249.00 251.00 2.00 1.03 including
ZDDH0043 80.00 105.00 25.00 0.41 ZDDH0051 345.00 346.00 1.00 8.25 including ZDDH0059 207.00 212.00 5.00 1.58 including ZDDH0068 60.00 83.00 23.00 0.46 including ZDDH0075 270.00 309.00 39.00 2.73 including
ZDDH0043 81.00 85.00 4.00 0.87 including ZDDH0052 10.00 11.00 1.00 1.35 ZDDH0059 236.00 241.60 5.60 4.37 including ZDDH0068 60.00 61.00 1.00 2.43 including ZDDH0075 270.00 296.00 26.00 3.54 including
ZDDH0043 103.00 105.00 2.00 1.60 including ZDDH0052 25.00 67.00 42.00 0.44 ZDDH0059 276.00 282.00 6.00 1.48 ZDDH0068 74.00 75.00 1.00 1.14 including ZDDH0075 270.00 285.50 15.50 5.49 including
ZDDH0043 241.00 242.00 1.00 1.02 ZDDH0052 25.50 26.50 1.00 2.25 including ZDDH0060 156.00 168.00 12.00 0.44 ZDDH0068 114.90 117.70 2.80 0.84 including ZDDH0075 304.00 309.00 5.00 2.72 including
ZDDH0044 104.00 107.00 3.00 0.92 ZDDH0052 64.00 68.00 4.00 2.37 ZDDH0060 163.00 166.00 3.00 0.78 including ZDDH0068 143.00 154.00 11.00 0.62 ZDDH0075 328.00 338.80 10.80 1.44 including
ZDDH0044 104.00 105.00 1.00 2.25 including ZDDH0052 154.00 157.00 3.00 3.27 ZDDH0060 215.00 220.95 5.95 0.37 ZDDH0068 152.00 153.00 1.00 1.59 including ZDDH0075 336.00 338.80 2.80 4.97 including
ZDDH0045 23.00 50.00 27.00 0.59 ZDDH0052 177.00 178.00 1.00 1.51 ZDDH0061 157.00 158.00 1.00 2.31 ZDDH0068 185.00 186.00 1.00 1.84 ZDDH0076 145.00 146.00 1.00 0.57
ZDDH0045 36.00 46.20 10.20 1.07 including ZDDH0053 7.70 87.00 79.30 0.72 ZDDH0061 194.00 195.00 1.00 0.83 ZDDH0068 189.00 190.00 1.00 1.37 ZDDH0077 65.00 82.00 17.00 0.54
ZDDH0045 36.00 40.00 4.00 1.80 including ZDDH0053 15.00 16.00 1.00 1.20 including ZDDH0062 8.00 70.00 62.00 0.46 ZDDH0068 200.00 201.00 1.00 2.03 ZDDH0077 74.00 78.00 4.00 1.13 including
ZDDH0045 97.00 98.00 1.00 1.91 ZDDH0053 36.00 37.00 1.00 1.12 including ZDDH0062 8.00 31.00 23.00 0.88 including ZDDH0068 209.00 210.00 1.00 4.42 ZDDH0077 69.60 70.60 1.00 1.91 including
ZDDH0045 196.30 203.00 6.70 1.10 ZDDH0053 64.00 87.00 23.00 2.04 including ZDDH0062 8.00 21.50 13.50 1.12 including ZDDH0068 225.00 226.00 1.00 1.53 ZDDH0077 121.70 122.50 0.80 1.56
ZDDH0045 197.00 198.50 1.50 3.21 including ZDDH0053 64.00 71.00 7.00 4.47 including ZDDH0062 13.00 15.50 2.50 2.01 including ZDDH0068 303.00 303.93 0.93 1.14 ZDDH0078 214.00 225.00 11.00 0.67
ZDDH0045 196.30 199.00 2.70 2.70 including ZDDH0053 66.00 69.00 3.00 7.89 including ZDDH0062 18.00 21.50 3.50 1.94 including ZDDH0069 147.00 414.00 267.00 1.12 ZDDH0078 214.33 216.00 1.67 3.46 including
ZDDH0046 17.60 39.00 21.40 1.17 ZDDH0053 64.00 80.50 16.50 2.50 including ZDDH0062 68.00 70.00 2.00 2.40 including ZDDH0069 221.00 414.00 193.00 1.47 including ZDDH0078 263.00 265.00 2.00 1.54
ZDDH0046 26.00 31.00 5.00 3.75 including ZDDH0053 134.50 136.86 2.36 1.13 ZDDH0062 110.00 111.00 1.00 1.18 ZDDH0069 224.00 404.00 180.00 1.57 including ZDDH0078 391.00 393.00 2.00 0.92
ZDDH0046 28.00 31.00 3.00 5.71 including ZDDH0053 146.00 147.00 1.00 1.87 ZDDH0062 119.00 120.00 1.00 2.36 ZDDH0069 234.00 366.00 132.00 1.89 including ZDDH0079 33.00 34.00 1.00 1.33
ZDDH0046 180.00 181.00 1.00 1.11 ZDDH0053 188.00 191.00 3.00 0.58 ZDDH0062 108.00 201.00 93.00 0.37 ZDDH0069 147.00 162.00 15.00 0.68 including ZDDH0079 70.20 72.10 1.90 1.56
ZDDH0046 223.00 224.00 1.00 1.45 ZDDH0053 240.00 241.00 1.00 1.09 ZDDH0062 129.00 173.00 44.00 0.53 including ZDDH0069 147.00 152.00 5.00 1.24 including ZDDH0079 165.60 166.00 0.40 4.26
ZDDH0046 248.60 250.00 1.40 1.35 ZDDH0053 274.00 281.00 7.00 0.77 ZDDH0062 134.00 141.00 7.00 0.76 including ZDDH0069 184.00 184.50 0.50 8.69 including ZDDH0079 256.00 257.00 1.00 2.14
ZDDH0047 30.00 134.50 104.50 0.56 ZDDH0053 274.00 275.00 1.00 3.65 including ZDDH0062 162.20 172.00 9.80 1.30 including ZDDH0069 234.00 258.00 24.00 1.72 including ZDDH0079 272.00 273.00 1.00 1.26
ZDDH0047 35.00 36.00 1.00 2.98 including ZDDH0053 280.00 281.00 1.00 1.11 including ZDDH0062 225.00 226.00 1.00 1.40 ZDDH0069 244.00 248.00 4.00 4.94 including ZDDH0079 288.00 295.00 7.00 0.91
ZDDH0047 74.00 75.00 1.00 2.03 including ZDDH0054 91.00 110.00 19.00 0.46 ZDDH0062 256.00 280.00 24.00 0.66 ZDDH0069 289.00 345.00 56.00 3.49 including ZDDH0079 290.00 294.00 4.00 1.19 including
ZDDH0047 97.00 134.80 37.80 1.23 including ZDDH0054 104.00 108.00 4.00 1.48 including ZDDH0062 256.00 261.00 5.00 2.29 including ZDDH0069 292.00 337.00 45.00 4.02 including ZDDH0080 108.00 121.00 13.00 1.17
ZDDH0047 97.00 109.00 12.00 2.68 including ZDDH0054 118.50 119.20 0.70 1.72 ZDDH0063 0.00 3.00 3.00 2.26 ZDDH0069 289.00 322.00 33.00 5.07 including ZDDH0080 115.50 120.00 4.50 3.08 including
ZDDH0047 97.00 99.00 2.00 11.00 including ZDDH0054 252.00 253.00 1.00 1.23 ZDDH0063 166.00 332.00 166.00 0.57 ZDDH0069 292.00 320.50 28.50 5.68 including ZDDH0080 141.00 143.00 2.00 0.98
ZDDH0047 130.00 134.80 4.80 2.71 including ZDDH0054 280.00 281.00 1.00 8.75 ZDDH0063 169.00 171.00 2.00 1.20 including ZDDH0069 314.00 320.50 6.50 7.28 including ZDDH0080 254.50 255.00 0.50 1.19
ZDDH0047 210.00 211.00 1.00 1.78 ZDDH0054 336.00 337.00 1.00 1.23 ZDDH0063 180.00 210.00 30.00 0.90 including ZDDH0069 292.00 303.00 11.00 7.73 including ZDDH0080 285.05 293.00 7.95 0.46
ZDDH0047 288.00 289.00 1.00 1.19 ZDDH0055 20.00 241.20 221.20 0.62 ZDDH0063 180.00 182.00 2.00 7.52 including ZDDH0069 392.50 401.00 8.50 2.49 including ZDDH0080 286.00 287.50 1.50 1.01 including
ZDDH0048 45.00 90.00 45.00 0.54 ZDDH0055 21.00 22.00 1.00 3.19 including ZDDH0063 197.00 210.00 13.00 0.75 including ZDDH0069 398.00 400.00 2.00 7.89 including ZDDH0081 82.00 110.00 28.00 1.90
ZDDH0048 53.50 54.50 1.00 3.15 including ZDDH0055 48.00 122.00 74.00 1.05 including ZDDH0063 277.00 316.00 39.00 1.22 including ZDDH0070 1.50 24.00 22.50 0.34 ZDDH0081 82.00 91.00 9.00 3.76 including
ZDDH0048 47.00 55.00 8.00 1.02 including ZDDH0055 48.00 88.50 40.50 1.51 including ZDDH0063 300.00 316.00 16.00 2.96 including ZDDH0070 10.95 24.00 13.05 0.50 including ZDDH0081 82.00 84.00 2.00 10.95 including
ZDDH0048 80.00 83.00 3.00 4.18 including ZDDH0055 48.00 60.12 12.12 4.83 including ZDDH0063 311.00 316.00 5.00 9.09 including ZDDH0070 18.00 21.50 3.50 0.98 including ZDDH0081 88.50 91.00 2.50 4.63 including
ZDDH0049 124.00 235.50 111.50 1.25 ZDDH0055 77.00 80.00 3.00 16.88 including ZDDH0064 102.00 103.70 1.70 1.43 ZDDH0070 155.00 156.00 1.00 2.28 ZDDH0081 104.00 110.00 6.00 2.91 including
ZDDH0049 124.00 182.00 58.00 2.04 including ZDDH0055 105.00 109.00 4.00 3.04 including ZDDH0064 188.00 202.00 14.00 0.55 ZDDH0071 25.00 96.00 71.00 0.80 ZDDH0081 104.00 106.00 2.00 7.45 including
ZDDH0049 154.00 181.50 27.50 3.57 including ZDDH0055 168.00 169.00 1.00 2.00 including ZDDH0064 192.00 196.00 4.00 1.33 including ZDDH0071 41.00 43.00 2.00 1.96 including ZDDH0081 201.00 202.00 1.00 1.62
ZDDH0049 124.00 141.00 17.00 1.11 including ZDDH0055 200.00 241.20 41.20 1.13 including ZDDH0064 243.00 244.00 1.00 1.11 ZDDH0071 62.79 70.00 7.21 1.04 including ZDDH0082 151.00 153.00 2.00 3.30
ZDDH0049 124.00 125.00 1.00 10.25 including ZDDH0055 200.00 233.00 33.00 1.36 including ZDDH0064 309.00 317.00 8.00 0.78 ZDDH0071 67.00 70.00 3.00 1.98 including ZDDH0082 273.00 303.00 30.00 0.33
ZDDH0049 159.00 172.00 13.00 5.32 including ZDDH0055 200.00 201.00 1.00 2.83 including ZDDH0064 311.00 314.00 3.00 1.53 ZDDH0071 88.00 96.00 8.00 4.18 including ZDDH0082 294.00 295.00 1.00 2.88
ZDDH0049 159.00 165.00 6.00 4.17 including ZDDH0055 207.00 208.00 1.00 6.51 including ZDDH0065 25.00 27.00 2.00 1.25 ZDDH0071 89.75 95.00 5.25 5.97 including ZDDH0082 301.00 303.00 2.00 2.43
ZDDH0049 177.00 182.00 5.00 5.14 including ZDDH0055 217.00 231.00 14.00 2.03 including ZDDH0065 56.40 58.80 2.40 0.78 ZDDH0071 133.00 149.50 16.50 0.36 ZDDH0083 180.00 190.10 10.10 0.92
ZDDH0049 213.00 235.50 22.50 0.89 including ZDDH0055 223.00 231.00 8.00 2.64 including ZDDH0065 155.00 167.00 12.00 1.72 ZDDH0071 139.00 146.50 7.50 0.55 including ZDDH0083 180.00 184.00 4.00 1.85 including
ZDDH0049 215.00 218.00 3.00 1.39 including ZDDH0055 282.00 326.00 44.00 0.48 ZDDH0066 306.00 465.00 159.00 0.46 including ZDDH0071 255.00 255.50 0.50 2.69 ZDDH0083 264.00 288.00 24.00 1.63
ZDDH0049 227.00 235.50 8.50 1.81 including ZDDH0055 282.00 283.00 1.00 3.91 including ZDDH0066 306.00 443.00 137.00 0.51 including ZDDH0072 356.00 396.00 40.00 0.69 ZDDH0083 273.00 288.00 15.00 2.55 including
ZDDH0049 231.00 235.50 4.50 3.07 including ZDDH0055 302.00 308.00 6.00 1.97 including ZDDH0066 389.00 436.00 47.00 1.00 including ZDDH0072 366.20 372.20 6.00 1.89 including ZDDH0083 273.00 280.00 7.00 4.48 including
ZDDH0049 245.00 246.00 1.00 1.66 ZDDH0055 319.00 320.00 1.00 1.51 including ZDDH0066 308.00 310.00 2.00 1.98 including ZDDH0072 366.20 368.00 1.80 5.50 including ZDDH0083 276.00 280.00 4.00 7.25 including
ZDDH0049 285.00 286.00 1.00 3.81 ZDDH0055 325.00 326.00 1.00 3.77 including ZDDH0066 357.00 362.00 5.00 1.10 including ZDDH0072 383.00 384.00 1.00 5.01 including ZDDH0083 336.00 339.00 3.00 1.21
ZDDH0049 290.00 291.00 1.00 1.12 ZDDH0056 232.00 236.70 4.70 0.70 ZDDH0066 357.50 361.00 3.50 1.43 including ZDDH0072 393.00 394.00 1.00 8.39 including ZDDH0083 362.00 363.00 1.00 3.57
ZDDH0050 6.00 16.00 10.00 1.56 ZDDH0056 236.00 236.70 0.70 3.09 ZDDH0066 389.00 412.00 23.00 1.09 including ZDDH0073 21.40 23.00 1.60 0.62 ZDDH0083 395.00 409.00 14.00 1.11
ZDDH0050 7.00 8.00 1.00 10.65 including ZDDH0057 22.00 44.00 22.00 1.03 ZDDH0066 389.00 401.00 12.00 1.59 including ZDDH0073 69.00 70.00 1.00 3.33 ZDDH0083 401.00 407.00 6.00 2.12 including
ZDDH0050 92.00 93.00 1.00 2.55 ZDDH0057 22.00 23.00 1.00 10.20 including ZDDH0066 389.00 392.00 3.00 2.97 including ZDDH0073 93.00 95.00 2.00 2.04 ZDDH0084 118.30 203.97 85.67 1.42
ZDDH0050 157.00 222.00 65.00 0.84 ZDDH0057 22.00 30.00 8.00 1.61 including ZDDH0066 424.00 443.00 19.00 1.24 including ZDDH0073 179.00 180.00 1.00 2.73 ZDDH0084 124.00 144.70 20.70 3.81 including
ZDDH0050 183.00 185.00 2.00 2.02 including ZDDH0057 216.00 233.00 17.00 0.55 ZDDH0066 427.00 436.00 9.00 2.14 including ZDDH0073 207.00 285.00 78.00 0.41 ZDDH0084 125.00 136.00 11.00 5.49 including
ZDDH0050 192.00 193.00 1.00 2.35 including ZDDH0057 225.00 228.00 3.00 1.93 including ZDDH0067 5.00 64.00 59.00 1.72 ZDDH0073 207.00 209.00 2.00 7.42 including ZDDH0084 162.00 169.50 7.50 3.85 including
ZDDH0050 202.00 209.00 7.00 5.84 including ZDDH0057 274.00 351.00 77.00 1.13 ZDDH0073 207.00 232.06 25.06 0.74 including
ZDDH0050 205.00 207.50 2.50 15.92 including ZDDH0057 279.00 321.00 42.00 1.97 including ZDDH0073 279.00 279.50 0.50 13.80 including
ZDDH0050 220.00 221.00 1.00 1.27 including ZDDH0057 279.00 311.00 32.00 2.32 including ZDDH0074 89.00 116.00 27.00 1.16
ZDDH0057 283.00 298.00 15.00 3.25 including ZDDH0074 89.00 94.00 5.00 2.15 including
ZDDH0057 318.00 321.00 3.00 2.75 including ZDDH0074 114.00 116.00 2.00 8.06 including

Tesoro Resources Corporate Presentation June 2021

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16

APPENDIX 1 - CONT’D EL ZORRO GOLD PROJECT SIGNIFICANT INTERCEPTS TABLE

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Hole_ID From (m) To (m) Interval Au (g/t) Comments Hole_ID From (m) To (m) Interval Au (g/t) Comments Hole_ID From (m) To (m) Interval Au (g/t) Comments
ZDDH0085 22.00 24.00 2.00 1.94 ZDDH0094 37.00 40.00 3.00 2.41 ZDDH0103 133.00 133.76 0.76 1.50
ZDDH0085 85.00 153.00 68.00 0.47 ZDDH0094 83.49 105.00 21.51 0.71 ZDDH0103 140.00 141.00 1.00 4.26
ZDDH0085 85.00 87.00 2.00 2.34 including ZDDH0094 86.30 91.00 4.70 1.02 ZDDH0103 168.00 180.00 12.00 0.40
ZDDH0085 141.65 153.00 11.35 2.19 ZDDH0094 100.00 105.00 5.00 1.64 ZDDH0103 178.70 180.00 1.30 1.76 including
ZDDH0085 147.00 151.00 4.00 5.38 ZDDH0094 298.00 346.00 48.00 0.67 ZDDH0103 226.00 228.00 2.00 0.56
ZDDH0085 185.00 186.00 1.00 1.62 ZDDH0094 298.00 299.00 1.00 1.54 including ZDDH0104 174.91 216.00 41.09 0.95
ZDDH0085 219.00 318.00 99.00 0.49 ZDDH0094 319.00 323.00 4.00 6.45 including ZDDH0104 174.91 197.00 22.09 1.50 including
ZDDH0085 219.00 224.00 5.00 2.40 including ZDDH0094 343.00 344.00 1.00 1.03 including ZDDH0104 183.00 197.00 14.00 1.87 including
ZDDH0085 250.00 256.00 6.00 2.25 including ZDDH0094 375.00 375.50 0.50 1.51 ZDDH0107 14.10 16.28 2.18 1.15
ZDDH0085 265.60 269.00 3.40 1.42 including ZDDH0095 106.00 108.00 2.00 0.62 ZDDH0107 35.70 48.00 12.30 0.70
ZDDH0085 290.00 292.00 2.00 1.69 including ZDDH0095 135.95 136.50 0.55 1.52 ZDDH0107 37.00 39.00 2.00 2.31 including
ZDDH0085 307.00 309.00 2.00 1.46 including ZDDH0095 212.50 224.00 11.50 1.13 ZDDH0107 46.00 48.00 2.00 1.08
ZDDH0085 312.00 313.00 1.00 1.48 including ZDDH0095 212.50 214.07 1.57 7.37 including ZDDH0107 359.00 382.00 23.00 0.57
ZDDH0086 15.00 16.00 1.00 0.58 ZDDH0096 29.00 47.00 18.00 0.46 ZDDH0107 372.00 381.00 9.00 1.16 including
ZDDH0086 36.00 38.00 2.00 0.30 ZDDH0096 39.00 46.00 7.00 0.79 including ZDDH0107 353.00 354.00 1.00 1.28
ZDDH0086 128.00 129.00 1.00 0.90 ZDDH0096 112.00 113.50 1.50 0.98 ZDDH0110 80.00 100.00 20.00 1.48
ZDDH0086 135.00 137.00 2.00 0.51 ZDDH0096 155.00 157.50 2.50 0.83 ZDDH0110 80.00 92.00 12.00 1.99 including
ZDDH0087 86.00 190.00 104.00 0.76 ZDDH0096 185.00 187.00 2.00 1.59 ZDDH0110 82.50 88.00 5.50 3.37 including
ZDDH0087 86.00 131.00 45.00 1.57 including ZDDH0096 190.00 191.00 1.00 1.41 ZDDH0110 114.00 120.00 6.00 0.53
ZDDH0087 86.00 116.00 30.00 2.24 including ZDDH0096 261.00 267.00 6.00 0.64 ZDDH0110 117.00 118.00 1.00 1.39 including
ZDDH0087 90.00 107.00 17.00 3.62 including ZDDH0096 261.00 262.00 1.00 2.21 including ZDDH0110 186.00 187.00 1.00 1.10
ZDDH0087 187.00 189.00 2.00 1.12 ZDDH0097 9.00 10.00 1.00 2.95 ZDDH0110 194.00 195.00 1.00 1.33
ZDDH0088 9.00 10.00 1.00 0.48 ZDDH0097 89.00 90.00 1.00 2.15 ZDDH0111 8.00 130.00 122.00 0.43
ZDDH0088 22.50 23.50 1.00 0.49 ZDDH0098 1.20 3.00 1.80 1.25 ZDDH0111 8.00 10.00 2.00 0.71 including
ZDDH0088 39.80 40.50 0.70 0.97 ZDDH0098 74.00 124.00 50.00 1.73 ZDDH0111 19.00 27.00 8.00 0.65 including
ZDDH0088 90.00 92.00 2.00 0.57 ZDDH0098 74.00 76.00 2.00 13.95 including ZDDH0111 21.00 22.00 1.00 2.30 including
ZDDH0088 133.50 134.00 0.50 0.91 ZDDH0098 97.00 103.00 6.00 8.47 including ZDDH0111 27.00 28.00 1.00 1.57 including
ZDDH0088 180.00 181.00 1.00 69.70 ZDDH0098 166.00 203.00 37.00 0.62 ZDDH0111 43.00 54.00 11.00 0.34 including
ZDDH0089 28.45 37.00 8.55 0.37 ZDDH0098 168.15 172.82 4.67 1.88 including ZDDH0111 85.00 86.00 1.00 3.01 including
ZDDH0089 29.00 33.00 4.00 0.49 ZDDH0098 190.00 203.00 13.00 0.98 including ZDDH0111 98.00 109.00 11.00 2.16 including
ZDDH0090 23.00 24.00 1.00 0.89 ZDDH0098 199.00 203.00 4.00 2.40 including ZDDH0111 120.00 125.00 5.00 1.35 including
ZDDH0090 43.00 83.00 40.00 0.53 ZDDH0099 10.00 11.00 1.00 3.57
ZDDH0090 60.00 78.00 18.00 1.05 including ZDDH0099 90.80 157.00 66.20 0.53
ZDDH0090 60.00 69.00 9.00 1.35 including ZDDH0099 96.00 111.00 15.00 1.36
ZDDH0090 148.00 182.00 34.00 0.44 ZDDH0099 138.00 139.00 1.00 1.13
ZDDH0090 148.00 149.00 1.00 1.86 including ZDDH0099 148.00 148.80 0.80 3.43
ZDDH0090 157.00 159.00 2.00 5.42 including ZDDH0099 178.00 178.90 0.90 6.53
ZDDH0090 223.00 224.00 1.00 3.99 ZDDH0099 251.00 252.00 1.00 1.11
ZDDH0091 36.00 40.00 4.00 8.04 ZDDH0099 319.40 328.00 8.60 0.58
ZDDH0091 36.00 38.00 2.00 14.44 including ZDDH0099 319.40 322.00 2.60 1.32
ZDDH0091 73.00 85.50 12.50 0.33 ZDDH0099 342.00 343.00 1.00 1.13
ZDDH0091 83.00 84.50 1.50 1.42 including ZDDH0100 8.00 9.00 1.00 1.08
ZDDH0091 125.00 131.00 6.00 0.34 ZDDH0100 21.00 56.00 35.00 1.07
ZDDH0091 172.00 173.00 1.00 0.47 ZDDH0100 29.10 54.50 25.40 1.39 including
ZDDH0092 45.00 46.00 1.00 2.24 ZDDH0100 29.10 31.00 1.90 10.30 including
ZDDH0092 86.00 87.00 1.00 10.88 ZDDH0100 105.00 106.00 1.00 5.86
ZDDH0092 121.00 123.94 2.94 1.11 ZDDH0100 144.50 157.00 12.50 0.75
ZDDH0092 282.00 382.00 100.00 0.48 ZDDH0100 147.00 148.00 1.00 4.99 including
ZDDH0092 282.00 292.00 10.00 1.43 including ZDDH0100 155.00 157.00 2.00 1.51 including
ZDDH0092 305.00 326.00 21.00 0.58 including ZDDH0100 193.00 194.00 1.00 1.45
ZDDH0092 311.00 319.00 8.00 1.08 including ZDDH0101 80.00 81.87 1.87 0.82
ZDDH0092 331.00 332.00 1.00 1.12 including ZDDH0101 133.00 202.00 69.00 0.95
ZDDH0092 369.00 371.00 2.00 2.31 including ZDDH0101 133.00 180.00 47.00 1.21 including
ZDDH0092 378.00 379.00 1.00 1.25 including ZDDH0101 136.00 159.40 23.40 1.76 including
ZDDH0093 25.60 27.05 1.45 15.94 ZDDH0101 196.00 197.00 1.00 4.14 including
ZDDH0093 116.00 117.00 1.00 1.85 ZDDH0101 258.00 286.56 28.56 1.30
ZDDH0093 132.00 150.00 18.00 0.51 ZDDH0101 275.50 285.00 9.50 3.05 including
ZDDH0093 136.00 142.00 6.00 1.16 including ZDDH0101 280.00 284.00 4.00 5.94 including
ZDDH0093 165.00 175.00 10.00 0.74 ZDDH0102 187.50 202.00 14.50 0.28
ZDDH0093 170.00 173.00 3.00 1.86 including ZDDH0102 189.00 190.00 1.00 1.46 including
ZDDH0093 190.47 194.18 3.71 0.79 ZDDH0103 4.50 9.00 4.50 0.35
ZDDH0093 268.00 270.00 2.00 1.10 ZDDH0103 31.20 31.60 0.40 3.48
ZDDH0093 279.00 304.00 25.00 0.77 ZDDH0103 88.00 102.00 14.00 1.42
ZDDH0093 279.00 281.00 2.00 1.40 including ZDDH0103 88.00 93.60 5.60 3.01 including
ZDDH0093 290.00 304.00 14.00 1.08 including
ZDDH0093 298.00 304.00 6.00 2.24 including 17
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Tesoro Resources Corporate Presentation June 2021

D’

APPENDIX 2 - TERNERA SELECTED SECTIONS

A

A’ D

Ternera Prospect Schematic Sections Looking NW

Sections of modelled tonalite, faults and gold grade shells at 0.20g/t and 0.50 g/t Au cut-offs Refer to slide 6 for Section Locations

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Tesoro Resources Corporate Presentation June 2021

18

APPENDIX 3 TESORO RESOURCES – CORPORATE SNAPSHOT

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Corporate Structure

Shares
(ASX:TSO) 555.9m
Performance
rights 146.2m
Share Price
(14 June 2021) A$0.16
Market
Capitalisation $A88.7m
Cash
(31 March 2021) $A19m

Shareholders

Top 20 46%
Top 50 57%
Board & Management 11%
Institutional, HNW & Family Office 29%
Other 60%

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Tesoro Resources Corporate Presentation June 2021

19

APPENDIX 4 – MATERIAL ASX ANNOUNCEMENTS ASX:TSO

Date Announcement Title Date Announcement Title
11/06/2021 Ternera Step Out Hole Extends Mineralisation 150m East 9/10/2020 Wide gold zones defined at El Zorro
25/05/2021 New Gold Zone Identified from Extensional Drilling 1/10/2020 Annual Report to shareholders
29/04/2021 Ternera Resource Definition Drilling Continues to Deliver 23/09/2020 Tesoro increases El Zorro land position by 500%
16/04/2021 Geophysics survey expands gold potential at El Zorro 17/09/2020 Wide interval of visible gold in drilling at El Zorro
13/04/2021 New Gold Discovery at El Zorr0 4/09/2020 Intercept confirms large scale potentail at El Zorro
29/03/2021 Multiple wide shallow gold intercepts at Ternera 26/08/2020 Drilling results demonstrate wide gold zones at El Zorro
26/03/2021 EL Zorro Gold Project Update and Outlook Webinar 10/08/2020 El Zorro geophysical survey highlights gold mineralisation
24/03/2021 El Zorro Ownership increased ot 85% 4/08/2020 El Zorro exploration update
5/03/2021 First Toro Gordo hole returns gold grades up to 69g/tAU 31/07/2020 Tesoro increases El Zorro land position by 360%
1/03/2021 Commencement of fully contributing JV for El Zorro Project 3/07/2020 Infill and extensional drillprogram commences at El Zorro
19/02/2021 Step out drilling extends Ternera 200m to south 25/06/2020 Extensive gold breaing vein system identified at Buzzard
27/01/2021 Drilling continues to extend Ternera deposit 18/06/2020 Tesoro successfully completes IEO and Placement
11/01/2021 Drilling continues to expand scale at El Zorra 10/06/2020 Drilling results continue to expand scale of El Zorro
24/12/2020 El Zorro drilling returns multiple thick gold intercepts 9/06/2020 Excellent metallurgical testwork results from El Zorro
22/12/2020 300g/m intercept confirms El Zorro large-scale potential 27/05/2020 El Zorro drill results continue to expand mineralisation
10/12/2020 Large surface gold target defined by trenching at Toro Gordo 13/05/2020 El Zorro's Coquetas gold system extended 750m south
1/12/2020 Geophysical survey identified potential Terera repeat 6/05/2020 Further wide high-grade gold intercepts at El Zorro
17/11/2020 Drilling success continues at El Zorro 27/04/2020 Wide high-grade gold intercept at El Zorro
4/11/2020 Wide high-grade gold intercept at El Zorro 17/04/2020 Widespread surface gold mineralisation at El Zorro
23/10/2020 Infill drilling continues to intercept gold bearing zones 12/03/2020 Additional assays extend gold zone at El Zorro
6/03/2020 Exceptional gold assays for first drill hole at El Zorro

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Tesoro Resources Corporate Presentation June 2021

20

CHILE A PROVEN MINING JURISDICTION AND MOST DEVELOPED SOUTH AMERICAN ECONOMY

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Tesoro Resources Corporate Presentation June 2021

21

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