The Arco De Oro Target -- the “ARC of Gold“

CALGARY, April 16, 2024 - San Lorenzo Gold Corp. (TSXV:SLG) (“San Lorenzo” or “the Company”) is pleased to provide stakeholders a summary of its “Arc of Gold” target. The target is located within its flagship Salvadora Property in the mega-porphyry belt of northern Chile.


Summary

San Lorenzo’s “Arco de Oro” – or “Arc of Gold” target is a “hidden gem” located within the boundaries of San Lorenzo’s 86.6 sq km Chilean Salvadora property.

The “Arc of Gold”, as San Lorenzo’s management refers to it, runs from the mid-southern edge of the Salvadora property boundary to the upper the north-west property boundary – a distance of approximately 8 km.

Historically, abundant shallow surface “artisanal” mining has occurred on the Arco de Oro trend as well as deeper mining from adits at the historical Santa Cecilia mine located in the northwest quadrant of the trend. The Santa Cecilia mine is reported to have produced significant amounts of high-grade gold. Numerous shallow surface artisanal workings are evident all along the trend – in the upper “oxidized layer” of the system. Those workings serve to delineate the curved feature of the Arc very well and, of course, guided San Lorenzo’s exploration efforts that consist of sampling, IP, and drilling.

Due to budget constraints, San Lorenzo has only drilled a small part of the Arco de Oro trend to date. Those efforts were focused generally in the middle of the trend - in the general area where the Feliz Retiro trenches are located. Surface and mine trench sampling conducted by San Lorenzo returned significant gold grades. Those grades and the type of associated alteration motivated a limited IP program and the drilling of 5 holes in total.

Every one of the 5 holes encountered mineralization with very significant grades of gold together with copper and silver. Importantly, the last hole drilled, which was a step-out to the north-west, targeted the vein system at a significantly deeper depth than the first 4 holes. That last hole intercepted the system at a vertical depth of 290 meters confirming that the veins evident at surface continue to a significant depth – at least in the area of that hole. The hole encountered disseminated and semi-massive sulphides. It cut 22.5 meters of mineralization that would be considered significant in that gold grades averaged 4.74 g/t over 22.5 meters. However, within that interval, grades of 16.27 g/t gold over 6.5 meters were obtained and within that was a high-grade core zone that cut 58.18 g/t gold over 1.5 meters. Interestingly, the disseminated to semi-massive pyrite and chalcopyrite were entered at a depth 160 metres in an area where San Lorenzo’s IP shows an interesting conductivity anomaly.

San Lorenzo is pleased with the results of that hole that confirmed the significant depth potential of the system.


General Discussion

The Arco de Oro Target is a belt of multiple vein systems that trend in a curved SE to NW orientation. This belt is characterised by multiple epithermal veins that are evident at surface. Surface artisanal workings have been extensively sampled at surface and within shallow artisanal trenches. That sampling, combined with drilling conducted by San Lorenzo, has confirmed a strike length of over 2 km so far. The curved trend features the Santa Cecilia mine in the NW quadrant of the trend. Overall, within the San Lorenzo’s Salvadora property boundary limits, the Arco de Oro trend has artisanal mining evident at surface for over 5 km.

The trend features many individual vein systems that are several to tens of metres wide within a belt that is up to 500 meters wide in areas. Drilling has established high-grade core zones within individual systems. Those grades, when combined with mineralization encountered in wall rock, may provide overall grades that make the system bulk mineable. San Lorenzo notes that its limited drilling has not established that to be the case as of yet.

The most recently drilled hole on Arco de Oro – SAL 04-22 - was designed to test the system at depth. San Lorenzo was pleased that that hole cut semi-massive sulphides and returned intercepts with excellent grades. Results confirmed that in that area, the vein system extends to a depth of at least 290 meters. This was a significant achievement for San Lorenzo as it provided yet more evidence to management that Arco de Oro hosts a mineralized system over a long strike length that extends to depth which presents a combination of scale and grade that may allow San Lorenzo to build a significant high-grade gold resource - with copper and silver included that will contribute to the economics of mining in the future.


Prior Sampling

Surface soil geochemical sampling has returned strongly anomalous gold values over the majority the Arco de Oro trend.

Surface rock chip samples taken from old workings and outcrops along the vein systems range from 8.2 g/t Au and 15.5 g/t Ag over 0.9 meters all the way up to 154.5 g/t Au and 18.2 g/t Ag over 1.3 meters – again, at surface.

Figure 1 (below) is a map of the Arco de Oro target area. Included are rock chip sample locations (green) and assay values therefrom. Evident on the map are the locations of the Feliz Retiro, Arco Primero, Maria Teresa and Santa Cecilia mines. The only deep mine of those 4 is the Santa Cecilia mine. Also shown are the locations of the 5 holes drilled by San Lorenzo to date (during the 2016 (yellow), 2018 (blue) and 2022 (red) programs).
https://www.thenewswire.com/data/tnw/clients/img/ad7c6c3ca5ee686b566a28f249716208.png


Prior Mining

Until as recently as 2014, mining on the Arco de Oro trend occurred from an adit at the Santa Cecilia mine from which the owners reported production of high-grade oxide ore containing up to 20 g/t of gold. The location of the Santa Cecilia mine is depicted on Figures 1, 2 and 4. It is located on trend 900 metres to the northwest of the last hole – SAL 04-22 - drilled by San Lorenzo. Management of San Lorenzo considers it very reasonable that continued drilling on trend for 900 meters toward the Santa Cecilia mine – at both shallow and deeper depths on lands 100% owned by San Lorenzo - may yield a substantial increase in the established strike length of the mineralised system. Continuing onward past the Santa Cecilia mine in a northwesterly direction, the trend continues for approximately 3 more kilometers until reaching San Lorenzo’s property boundary - again with artisanal mining evident along the trend. Management is of the opinion that San Lorenzo has the potential to define a substantial resource at Arco de Oro by virtue of the long strike length and having now confirmed that in at least one area, the vein system extends down to at least 290 meters. Management is also of the view that continued drilling to the southeast of hole SAL 04-16 – the southeastern most hole drilled by San Lorenzo to date and where long sections of surface artisanal mining are evident - is also warranted in that it has the potential to significantly extend strike length in that direction as well - by as much as 2 additional kilometers until the property boundary is reached. It is intended that drilling, when conducted, will target the vein system in the shallower oxidized area and at depth as well – with at least one hole targeting the system at depths deeper than 290 meters.


Prior Drilling

The three drilling programs carried out to date involved just 5 holes. Three of the holes were over 400 of strike in the Feliz Retiro vein system and cut high grade gold-copper-silver mineralization grading 4.55 g/t Au over 7 meters to 11.69 g/t Au over 3 meters at vertical depths from 50 to 75 metres. A fourth hole focused on the parallel Arco Primero vein system and retuned an intercept of 9.95 g/t Au over 2 meters. Included in that 2 meter interval were significant copper grades of 0.47% and silver grades of 12.7 g/t. The fifth hole, which was the most recent hole, was a step out on the Feliz Retiro system to the north-west which targeted the vein system at a much deeper depth. The objective was to determine to what depth the vein system evident extended down to. That SAL 04-22 hole cut semi-massive sulphides at a depth of 290 metres from surface after having encountered disseminated to semi-massive pyrite and chalcopyrite beginning at 160 metres of vertical depth. The location of each hole referred to above can be viewed on Figure 1 with the associated grades presented in Table 1. The mineralization encountered in hole SAL 04-22 coincides with the conductivity anomaly identified by San Lorenzo’s IP.

Regarding grades, it is management’s view that the grades encountered on the Arco de Oro trend would be generally regarded to be very economical to mine and San Lorenzo may be able to report a large-scale resource on the Arco de Oro with more confirmatory drilling needed to meet NI 43-101 disclosure requirements.


Table1 (below) highlights the mineralized intercepts from the 5 holes drilled to date by San Lorenzo on Arco de Oro.

Hole # 	Vein System 	 	From(m) 	To(m) 	Width(m) 	Au g/t 	Ag g/t 	Cu % 
SAL-04-22 	 	 	329 	351.5 	22.5 	4.74 	3.6 	0.18 
 	Feliz Retiro 	including 	333 	339.5 	6.5 	16.27 	9.9 	0.39 
 	 	including 	335.5 	337 	1.5 	58.18 	15.7 	0.38 
SAL-07-22 	 Feliz Retiro 	 	100 	114.7 	14.7 	2.52 	3.5 	0.08 
 	 	including 	100 	103 	3 	11.69 	11.6 	0.24 
SAL-09-22 	 Primero 	 	97 	99 	2 	9.95 	12.9 	0.47 
SAL-04-18 	Feliz Retiro 	 	70 	82 	12 	2.74 	2.9 	0.27 
 	 	including 	71 	75 	4 	6.48 	6.0 	0.57 
SAL-04-16 	Feliz Retiro  	 	109 	116 	7 	4.55 	9.2 	0.26 

Prior Geophysics

San Lorenzo has completed limited IP over the Arco de Oro system. That survey, completed over the southeastern 60% of the Arco de Oro trend, identified a moderate to strong underlying chargeability anomaly (see Figure 2 below) from 150m depth which is open at depth and to the northwest. The sulphide zone intersected in hole SAL 04-22 coincides well with the chargeability anomaly.

https://www.thenewswire.com/data/tnw/clients/img/0c85448434373507ed07b93adcb86c56.png
Figure 2 (above) depicts the IP lines completed by San Lorenzo over the Arco de Oro trend and outlines the IP chargeability anomaly area identified by IP (shaded in pink).

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Figure 3 (above) illustrates the trend of artisanal workings evident at surface on Arco de Oro looking north-west.

The 1 hole completed in the 2016 program (yellow) and the 1 hole completed in the 2018 program (blue) and the 3 holes completed in the 2022 program (red) which are evident at the top of the image depict the location of the only holes drilled by San Lorenzo to date and demonstrate that San Lorenzo has only conducted drilling on a small portion of the trend evident at surface from historical artisanal workings.

https://www.thenewswire.com/data/tnw/clients/img/6294106439c4f1db92c5ed34733a6775.png
Figure 4 above illustrates the location of the extensive artisanal workings (purple lines) that are evident on the Arco de Oro trend.


More Information

San Lorenzo Gold Corp. encourages readers to obtain more information about the Arco de Oro target by clicking on the following link https://sanlorenzogold.ca/arco-de-oro or by visiting San Lorenzo’s website at: www.sanlorenzogold.ca


About San Lorenzo Gold Corp.

San Lorenzo Gold Corp. is involved in the exploration and advancement of mineral properties in the Mega Porphyry Cu-Au and the Costal IOCG belts of Chile. The Salvadora property is located in the Mega Porphyry Cu-Au belt and is being explored for large scale copper-gold porphyry deposits and high-grade epithermal gold-silver-copper vein type deposits.

The Company has two other properties: Nancagua, a high grade mesothermal gold-silver prospect and Punta Alta, a copper-gold-silver-cobalt prospect with related disseminated and vein style copper-gold-silver-cobalt mineralization in the Coastal IOCG Belt.



Contact Information:

San Lorenzo Gold Corp.
Gordon Aldcorn, VP Corporate Development
Email: galdcorn@sanlorenzogold.ca
Ph: 403-618-6507 or:

Terence (Terry) Walker, VP Exploration
Email: twalker@goldenrock.cl
Ph: + 56 9 5179 5902 or:

Al Kroontje
Email: al@slgold.ca
Ph: 403-607-4009



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Cautionary Note Regarding Forward-Looking Information

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of San Lorenzo. All statements included herein other than statements of historical fact are forward-looking information. Such forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, San Lorenzo does not assume any obligation to update or revise them to reflect new events or circumstances.

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