Ann: 320m @ 1.5g/t gold drilled from surface at Tesorito, page-2

320m @ 1.5g/t gold drilled from surface at Tesorito▪ Drillhole TS-DH14 records higher grade intercepts within a 320m zone of porphyry style mineralisation grading 1.5g/t1 Au from just 2m below surface:▪ 102m @ 2.11 g/t Au from 28m▪ 30m @ 2.47g/t Au and 0.12% Cu from 262m within 60m @ 1.75g/t Au and 0.12% Cu from 250m.▪ The 480 gram-metre gold intersection2starting from only 2m below surface is Los Cerros’ best porphyry intersection and comparable to the strongest gold porphyry intercepts in the Mid-Cauca gold belt which hosts several multi-million-ounce gold and gold-copper deposits.▪ Hole TS-DH14 dramatically increases grade and expands the Tesorito South higher-grade envelope closer to surface and at depth.▪ Gold mineralisation remains open to the west and at depth below 300m.▪ Holes TS-DH12 and TS-DH13 reinforces Tesorito North porphyry potential with TS-DH13 intersecting 238m @ 0.48g/t Au including: ▪ 38m @ 0.70g/t Au from 44m, incl 10m @ 1.14g/t Au from 44m▪ 16m @ 1.23g/t Au from 114m, and▪ 30m @ 0.69g/t Au from 208m▪ Two diamond rigs currently drilling at Tesorito South porphyry, third diamond rig drilling at the large Chuscal gold target, located 2km south of Tesorito. Los Cerros Limited (ASX: LCL) (Los Cerros or the Company) is extremely pleased to advise that drilling at the Tesorito South porphyry target, part of the 100% owned Quinchia Project in Colombia,continues to deliver spectacular results, with the latest hole (TS-DH14) returning the strongest porphyry gold intercept ever recorded by Los Cerros. Drill hole TS-DH14 intercepted 320m @ 1.5g/t Au starting from 2m including:• 102m @ 2.11g/t Au from 28m, and• 30m @ 2.47g/t Au and 0.12% Cu from 262m within 60m @ 1.75g/t Au and 0.12% Cu from 250m.The hole intersected mineralised andesites, diorites and magmatic breccias below a thin layer of weathered saprolite and was terminated at 483.05m remaining in the broader porphyry intrusive complex for the entire hole. There are a number of positive take-aways from hole TS-DH14 to focus on: