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(TheNewswire)
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CALGARY October 17, 2025 TheNewswire – San Lorenzo Gold Corp. (” San Lorenzo ” or the ” Firm “) (TSXV: SLG,OTC:SNLGF and OTC: SNLGF) is happy to advise that on October 11, 2025, drilling commenced on the Cerro Blanco porphyry goal located on San Lorenzo’s flagship Salvadora property in Chile. Drilling operations are persevering with on the primary of three deliberate holes which is able to goal sturdy geophysical anomalies recognized in San Lorenzo’s just lately reported expanded induced polarization geophysical surveying program (see San Lorenzo information launch dated June 17, 2025). The Firm intends to supply drilling updates, together with assay outcomes, on an ongoing foundation.
San Lorenzo can be happy to advise that the beforehand reported second credit score facility offering as much as and extra $1,000,000 of funding to the Firm has obtained remaining TSX Enterprise Alternate approval and has closed (see San Lorenzo information launch dated August 6, 2025). Proceeds from the second credit score facility might be used to fund the just lately commenced drilling program at Salvadora.
The second credit score facility was offered by the identical firm (the ” Lender “) that offered the preliminary credit score facility which is an organization associated to a director of the Firm (see San Lorenzo information launch dated November 19, 2024).
As soon as absolutely drawn, advances beneath the second credit score facility will routinely convert right into a time period mortgage maturing on July 31, 2027. The second credit score facility bears curiosity at a charge of 8% every year and is convertible on the possibility of the Lender into widespread shares of the Firm at a worth of $0.35 per widespread share till maturity. If transformed, the Lender has agreed to a contractual maintain interval such that the share certificates representing the widespread shares will bear a legend proscribing the buying and selling of such shares for a interval of 1 yr from the date of their issuance.
No bonuses, finders charges or commissions had been paid in respect of the second credit score facility.
MI 61-101 Issues: As an organization associated to an insider of the Firm participated within the transaction, it was deemed to be a “associated celebration transaction” as outlined beneath Multilateral Instrument 61-101-Safety of Minority Safety Holders in Particular Transactions (” MI 61-101 “). Neither the Firm, nor to the data of the Firm after cheap inquiry, a associated celebration had had data of any materials info regarding the Firm or its securities that has not been typically disclosed. The second credit score facility is exempt from the formal valuation and minority shareholder approval necessities of MI 61-101 (pursuant to subsections 5.5(c) and 5.7(1)(b)) because it was a distribution of securities for money and neither the honest market worth of the second credit score facility, nor the consideration obtained from associated events, exceeded $2,500,000. The second credit score facility was unanimously accredited by the board of administrators of the Firm, excluding the director who is expounded to the corporate offering the second credit score facility, who abstained from voting. The Lender presently holds 50,000 widespread shares of the Firm and holds no choices. If the second credit score facility is absolutely drawn to the utmost permitted quantity, and each the primary and second credit score services are transformed in accordance with their phrases, a complete of seven,857,143 widespread shares can be issued, which might characterize 9.0 % of the then issued and excellent widespread shares of the Firm.
About San Lorenzo
San Lorenzo is targeted on advancing its flagship Salvadora property situated in Chile’s mega-porphyry belt. Outcomes obtained from prior drilling packages performed on 4 totally different targets have satisfied administration that a number of vital gold and copper enriched epithermal and porphyry type techniques are contained throughout the Salvadora property.
For additional info, please contact:
Terence (Terry) Walker, VP Exploration
Electronic mail: twalker@goldenrock.cl
Ph: + 56 9 5179 5902
Or:
Roger Blair or Jeff Wilson, Acuity Advisory Corp.
Electronic mail: data@acuityadvisorycorp.com
Ph: +1 604 351 0025 or +1 604 837 5440
Or:
Al Kroontje
Electronic mail: al@slgold.ca
Ph: +1 403 607 4009
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this information launch.
Cautionary Notice Concerning Ahead-Trying Info
This information launch might comprise forward-looking info that entails substantial identified and unknown dangers and uncertainties, most of that are past the management of San Lorenzo. All statements included herein apart from statements of historic truth are forward-looking info. Such forward-looking info entails varied dangers and uncertainties. There could be no assurance that such info will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such info. Any forward-looking statements are made as of the date of this launch and, apart from as required by relevant securities legal guidelines, San Lorenzo doesn’t assume any obligation to replace or revise them to replicate new occasions or circumstances.
Copyright (c) 2025 TheNewswire – All rights reserved.
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