Announcement Overviews

Afternoon all lazy Japan Sunday here. If you are interested I keep a running Ann thread for my own perusal. It sure makes you feel good after you read through it. Could be useful for those that are still looking at investing. We are really onto something special here. There is nothing new here but it’s a little easier than going through each ann all the time.

Doitashimashite KL

ANN 1 - 6 March 2020

Exceptional Gold Assays for First DrillHole at El Zorro Including 23m @ 7.20g/t, 5.3m @ 25.31/t Au and 2.3m @ 46.41g/t Au Multiple Zones Indicate Significant Gold Deposit

Overall themes

1.Grades increase with depth

2.Over multiple zones

3.Current results and earlier D holes indicate potential for significant gold deposit

Zeff comment - These assay results are exceptional and are to date the best gold results we have encountered in drillingat EL Zorro. The wide, high-grade nature of the results received so fardemonstrate the huge potential El Zorro has to host a significantgold deposit and confirms our geological model of multiple stacked goldmineralised zones that are increasing in grade as they go deeper

ANN 2 – 12 March 2020

AdditionalAssays Extend Gold Zone in first hole to 86.45m @ 2.29g/tAu

including50.50m @ 3.63g/t Au

Overall themes

1.Mineralisation continues from the main host tonalite

2.Re-affirmation of potential for significant gold deposit

3.Identified further extensions that will be drilled during the year

Zeff comment- This is the fourth hole Tesoro hasdrilled at El Zorro which has returned a greater than 100g/m intercept which isphenomenal considering the stage the project is at. We are encouraged by the strong mineralisation well into the footwall sediments, whichdemonstrates that proximity to the wide controlling structures can provide theright ingredients for gold mineralisation regardless of rock type.

ANN 3- 23 March 2020

Tesoroto accelerate to 70% ownership of El Zorro

Overall themes

1.Ownership increases from 51%-70%

2.To increase to 80% a USD$ 50000 payment by 17 January 2022

Zeff comment - We are excited at the emerging gold system at El Zorro and the Tesoro team is committed todelivering a maiden gold resource at the Project during 2020

ANN 3 – 17 April 2020

Widespreadsurface gold mineralisation at El Zorro Channel sample grades up to 30.30g/tgold

Overall themes

1.Channel sampling results from the Coquetas prospect confirms surface gold mineralisation over 750m of strike.

2.Surface sampling confirm Coquetas mineralisation over 750m of strike, 300m deep and up to 100m wide

3.Results demonstrate scale and confirm geological model for gold mineralisation at El Zorro

Zeff comment- “These results further enhance ElZorro’s potential to host a significant gold deposit with several of thealready identified mineralised zones being significantlyincreased in size andadditional previously unknown areas of gold mineralisation having beenidentified. We now have significant surface gold mineralisation occurring over 785m of strike, of which we have only drill testedapproximately 350m.This provides considerable scope to increase the scale of the prospect.”

Ann 4 – 22 April 2020

AdditionalChannel Sampling at El Zorro Expands Surface Gold Mineralisation

Overall themes

1.Continuous goldmineralisation defined at surface (using 0.20g/t Au cut off) >385m of strikeand between 60m to 80m wide.

2.Additional results have expanded previously announced surface gold zone at El Zorro

Zeff comment - We are not only seeing a largesystem emerging but results to date indicate that mineralisation is continuousover a large area which is encouraging.

Ann 5 – 27 April 2020

WideHigh-Grade Gold Intercept at El Zorro 19.25m @ 2.86g/t Au including 6.15m @7.37 g/t Au.

Overall themes

1.Two gold zones intercepted, confirming the extension of mineralisation from hole ZDDH00017

2.Results extend high grade mineralisation to the east

Zeff comment -El Zorro continues to deliverexceptional drill results. Hole ZDDH00021 is significant in that, once again,we have intercepted two mineralised horizons, with the lower high-grade zoneoccurring within sediments that have been subject to the same mineralised faultsystem we see cutting the El Zorro tonalite (EZT). This provides potential toexpand the Coquetas mineralisation well into the surrounding sediments wherethe mineralised faults occur

Ann 6- 6 May 2020

FurtherContinuous Wide High-Grade Gold Intercepts at El Zorro Significant assaysreturned of 34.73m @ 2.94 g/t Au including 15.00m @ 5.99 g/t Au and 41.17m @1.38 g/t Au including 14.17m @ 3.25 g/t Au

Overall themes

1.Assays confirm continuous high-grade gold mineralisation hosted within the CC500 fault zone, which is now delineated over 180m of strike, between 20m and 80m wide and 250m deep

2.CC500 is one of seven currently identified high grade gold bearing fault zones within the Coquetas mineralised zone, which is mineralised from surface to over 250m deep

Zeff comment - “Drill results from El Zorrocontinue to impress and we have now delineated a significant high-grade gold zone associated with the CC500 fault. The team has identified multiple repeats of these fault zones which provides significant scope to add additional high-grade mineralisation to any potential resource.

Ann 7 – 13 May 2020

ElZorro’s ‘Coquetas’ gold system extended 750m south, confirming goldmineralisation with a total strike length of 1.5km Additional channel samplingresults include 21.00m @ 2.49g/t Au, 52.00m @ 0.55g/t Au, 9.00m @ 1.08g/t Au

Overall themes

1.680m long strike extensive vein system discovered at Coquetas South, building on previous results, now extends the Coquetas mineralised footprint by approximately 750m south. The Coquetas Prospect now has a total strike length of 1.5km of proven gold mineralisation.

2.Tesoro has now identified 7 fault zones at Coquetas whichcontain significant gold mineralisation, only 2 of these faults have been drilltested to date.

Zeff comment - Mineralisation at El Zorro, andCoquetas in particular, continues to increase in size with every sample resultwe receive. These results are particularly significant as they more than doublethe strike length of the mineralised footprint at Coquetas and provide multiple,additional drill targets. Together with the wide high-grade drill results wehave produced from El Zorro, this further confirms that El Zorro is a largegold bearing system with high potential to hosta significant gold resource

Ann 8 -27 May 2020

ElZorro Drill Results Continue to Expand Mineralisation with More Wide HighGradeGold Zones Significant assays returned of 121.55m @ 1.32g/t Au including 12.27m @ 4.98 g/tAu & 14.00m @ 3.06 g/t Au including 5.20m @ 6.97 g/t Au

Overall themes

1.Results confirm mineralisation of multiple CC faults from surface to over 150m downhole

2.Independent review by Cube Consulting Pty Ltd has confirmedTesoro’s geological model, that higher-grade gold mineralisation is associated with the CC structures

3.Coquetas renamed “Ternera”, Coquetas South renamed “Toro Gordo”

Zeff comments - Tesoro has now delineated 9 of these faults at Ternera and with all returning high grade results,the El Zorro project continues to grow

Ann 9 – 9 June 2020

ExcellentInitial Metallurgical Testwork Results from El Zorro Up to 99% gold recovery

Overall themes

1.Initial metallurgical testwork results indicate that Ternera material from El Zorro is free milling with gold recoveries up to 99%

2.Material is amenable to gravity concentration

3.Initial testwork indicates the potential to use a gold processing circuit consisting of conventional gravity concentration with CIL for Ternera

Zeff comment - Thehigh gravity and cyanide leach recoveries achieved in this work support thepotential for processing of material from Ternera using conventional gravityand CIL processes at a relatively coarse grind size

Ann 10 – 10 June 2020

DrillingResults Continue to Expand Scale of El Zorro Gold Mineralisation

Overall themes

1.Both holes confirm mineralisation within the CC200 fault zone, establishing southern extensions and additional gold bearing fault zones at Ternera

Zeff comment - “These results further demonstratethe well mineralised nature of the CC faults cutting the El Zorro Tonalite. Wehave to date delineated ten CC faults, all demonstrating strong goldmineralisation, from surface, and we have drilled them to approximately 300m indepth

Ann 11 - 25 June

Extensivegold bearing vein system identified at Buzzard Channel sampling results include6.00m @ 7.06 g/t Au and 3.00m @ 5.23g/t Au

Overall themes

1.Large gold bearing vein system identified over an area of approximately 1,100m long and 750m wide – open in all directions.

2.Individual mineralised veins up to 250m long identified

Zeff comment – “The early stage results from Buzzard further demonstrate the potential of the El Zorro gold system with gold now identified over 5km of strike atmultiple prospects. The Buzzard vein system is extensive, and these results have highlighted large-scale potential, which will require additional work to further understand

Ann 12 – 31 July

Tesoroincreases El Zorro land position by 360% to 395km2

Overall themes

1.Applications have been made for 156 new concessions covering approximately 285km2 of prospective geology identified from a regional review

Zeff comment - Following a regional geologicalreview of the belt hosting El Zorro we have identified additional areas that webelieve to be prospective for gold mineralisation, similar to the style that weare currently delineating at the Ternera prospect, where drilling is ongoing.With the benefit of our understanding of gold mineralisation at Ternera, theTesoro team has identified over 55km of strike immediately north and south ofthe existing El Zorro concession holdings

Ann 13 - 4 August 2020

ElZorro Exploration Update Surface results return up to 1m @ 12.75 g/t from DroneHill and 2m @ 19.98g/t Au g/t from Ternera Sampling expands surface goldfootprint at Ternera

Overall themes

1.Strike extensive vein hosted mineralisation identified atDrone Hill.

2.Drone Hill sampling confirms continuation of mineralisedfaults from Ternera to Drone Hill, mineralised footprint now identified over 1km of strike, significantly increasing the scale of the El Zorro surface mineralisation.

Zeff comments - “El Zorro continues to produce some exciting results from our surface mapping and sampling programs, which have further expanded the mineralised footprint across the project

Ann 14 – 10 August 2020

ElZorro Geophysical Survey Highlights Ternera Gold Mineralisation and UntestedExtensions

Overall themes

1.Induced Polarisation (IP) surveys at El Zorro extend knownmineralised zones at Ternera and show new untested targets.

2.Gradient Array IP (GAIP) and Dipole-Dipole IP (DDIP) surveyanomalies at Ternera are correlated to high grade drill intercepts

3.IP anomaly extensions and new stand-alone anomalies provide significant new targets, extending Ternera’s strike by approximately 500mnorth and 250m south from existing drilling, and includes untested IP anomaly zones sitting below the Ternera gold mineralised corridor

4.GAIP data highlights mineralised NW trending fault zones and several untested parallel fault zone anomaly trends

5.Additional strong GAIP anomaly detected at Drone Hill,approximately 250m long and open to the NW.

Zeff comments - “The results of the IP surveyare certainly exciting. We have already modelled the preliminary data in 3D assoon as it was received from the field, and compared it to our drilling,immediately noticing that some of our best drillresults occur within a well-defined IP anomaly trend. The anomaly we have justdelineated adds significant extensional targets to the high-grade Ternera goldzone. Preparation is underway to expand our current drill program to test thesetarget extensions. Should those holes be successful, it will add a significantincrease to the scale of the gold system, and we would view IP as a valuableexploration tool for defining additional drilling targets at El Zorro

Ann 15-26 August2020

Drillingresults demonstrate wide gold zones at El Zorro including: 176.50m@ 0.85g/t Au and 54.00m @ 1.69g/t Au

Overall themes

1.The current drill program has been expanded to include extensional and additional infill holes as the defined mineralised footprint at Ternera continues to expand

Zeff comments - “Ternera continues to return excellent results withfurther wide zones of gold mineralisation defined and multiple high-grade faultzones intersected. Our team is progressing well on site with 18 holes nowcompleted, including 2 step out holes to the north of Ternera targeting therecently identified geophysical anomaly correlating to high grade goldmineralisation at Ternera

Ann 16 – 4 September 2020

MassiveDrill Intercept Confirms Large Scale Potential at El Zorro 231.00m@ 0.83g/t Au (192g/m’s) from72.00m, including 54.00m @ 1.69g/t Au, 25.00m @ 3.36g/t Au & 13.26m @3.25g/t Au

Overall themes

1.Results demonstrate large scale potential at El Zorro

2.8 of 32 (one quarter) of the holes returned to date have now reported intercepts of >100g/m’s

Zeff comments - “Drilling results continue to impress from Ternera with hole ZDDH00031 returning the widest intercept we have drilled to date and it is the 8th hole of 32 holes with assays, that has returned a greater than 100g/m intercept. The geological model is holding up, withmultiple well mineralised faults being identified within a large lower gradehalo. This bodes well for further expanding the mineralisation already definedat Ternera

Ann17 – 17 September 2020

Wide interval ofvisible gold in step outdrilling at El Zorro Ternera mineralised footprint extended by 300m

Overall themes

1.Visible gold observed over 61m of drill core within a widerzone of 117m of strong sheeted veining and sulphide mineralisation, typical of the gold bearing zone at Ternera

2.Step out holes validate exploration model with goldmineralisation correlating well to IP geophysical anomaly and remains open bothto the north and south.

3.Northern step out hole ZDDH00042 returns positive drillintercept within the target El Zorro Tonalite

Zeff comments - “These two holes are game changing for Ternera and the overall El Zorro Gold project, particularly holeZDDH00051. It’s always encouraging to see visible gold in drill core and tohave it observed over a 61m interval is particularly exciting. Together these holes more than double the existing drilledgold footprint of Ternera and further demonstrate the potential for Ternera tobecome a significant gold deposit

Ann 18 – 23 September 2020

Tesoroincreases El Zorro land position by 500% to 540km2

Overall themes

1.Confirmation has been received from the Chilean authorities that applications for 188 new concessions have been successful

2.Increases the El Zorro Project concession holding by 440km2 to approximately 540km2

Zeff comments - “We are delighted to havesecured an additional 188 concessions over 440km2 for the El Zorro Project. Thenew concessions cover an area we believe is highly prospective for additionalgold mineralisation, similar to the style of what we are drilling at Ternera

Ann 19 – 9 October 2020

DrillingContinues to Define Wide Gold Zones at El Zorro

Overall themes

1.All holes intersected multiple gold mineralised zones including

Zeff comments - “These four holes all intersected mineralised faultzones at the predicted depths and continue to build thegold inventory within the Ternera geological model. The results confirm continuity of the mineralised CC faultsboth along strike and down dip, which provides further confidence that ourexploration model is working. To date, Tesoro has received results for 37 holes from a total of 60holes complete at Ternera. All 37 holes have returned strong intercepts of goldmineralisation, a 100% success rate

Ann 20 – 23 October 2020

ElZorro infill drilling continues to intersect multiple gold bearing zones

Overall themes

1.All holes intersected multiple gold mineralised zones

2.In addition to intersecting high-grade fault structures, the results demonstrate continuity of grade between faults within secondary mineralised structures

Zeff comments - “These results continue to demonstrate the continuity of grade not only along, butalso between the mineralised CC faults at Ternera. Each hole has intersected multiplemineralised zones which continue to add to the gold inventory at El Zorro. Theknown drilled mineralised zone at Ternera continues to grow and currently hasbeen defined over an area of 800m by 750m to300m depth and remains open in all directions”. “The extensive and ongoing drill program isproving extremely beneficial in uncovering the extent of the Ternera deposit atEl Zorro. We believe the project has huge potential, with Ternera being the first of five targets identified at ElZorro, and ourconfidence in the exploration model continues to increase