Announcement PDF ASX ANNOUNCEMENT 24 NOVEMBER 2020 ASX: TSO | ACN 106 854 175 El Zorro Step Out Drilling Returns Multiple Thick Gold Intercepts 98m @ 0.95g/t Au including 31m @ 1.55g/t Au, 74m @ 1.05g/t including 12.12m @ 4.83g/t Au and 77m @ 1.13 g/t including 15m @ 3.25g/t Au ▪ Assays received for six holes, ZDDH00051, ZDDH00052, ZDDH00053, ZDDH00055, ZDH00056, and ZDDH00057 at El Zorro, adding significant scale to the mineralised zone at the Ternera prospect (Ternera). ▪ Holes ZDDH00051, ZDDH00052, ZDDH00053, ZDDH00055 and ZDDH00057 intersected broad mineralised gold zones with high grade results being returned from multiple mineralised fault zones, correlating with visible gold occurrences. ▪ Significant intercepts include: • ZDDH00051 ▪ 98.00m @ 0.95g/t Au from 249.00m including; ▪ 31.00m @ 1.55g/t Au from 251.00m; and ▪ 14.00m @ 3.60g/t Au from 255.00m; and ▪ 6.00m @ 4.68g/t Au from 258.00m; and ▪ 1.00m @ 27.60g/t Au from 260.00m; and ▪ 19.00m @ 1.25g/t Au from 328.00m; and ▪ 1.00m @ 8.25g/t Au from 345.00m. • ZDDH00053 ▪ 79.30m @ 0.72g/t Au from 7.70m including; ▪ 23.00m @ 2.04g/t Au from 64.00m; ▪ 7.00m @ 4.47g/t Au from 64.00m: and ▪ 3.00m @ 7.89g/t Au from 66.00m. • ZDDH00055 ▪ 221.20m @ 0.62g/t Au from 20.00m including; ▪ 74.00m @ 1.05g/t Au from 48.00m; ▪ 40.50m @ 1.51g/t Au from 48.00m; ▪ 12.12m @ 4.83g/t Au from 48.00m; ▪ 3.00m @ 16.88g/t Au from 77.00m; and ▪ 41.20m @ 1.13g/t Au from 200.00m. • ZDDH00057 ▪ 22.00m @ 1.03g/t Au from 22.00m; ▪ 77.00m @ 1.13 g/t Au from 274.00m including; ▪ 42.00m @ 1.97g/t Au from 279.00m; and ▪ 15.00m @ 3.25g/t Au from 283.00m. ▪ Holes ZDDH00051 and ZDDH00057 significantly increase the size of the drilled Ternera mineralised footprint by 150m to the northeast and 100m to the south east, intersecting 1 +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 multiple, wide gold zones. ▪ Ternera mineralisation now confirmed by drilling over an area of 700m x 800m, from surface to over 350m depth and remains open in all directions. ▪ 47 holes completed at El Zorro, for 13,756m, with assays outstanding for 17 holes. Tesoro Resources Limited (Tesoro or the Company) (ASX: TSO) is pleased to announce assay results for six diamond drill holes completed at Ternera on the Company’s El Zorro Gold Project (El Zorro) in Chile, all of which returned positive results, intersecting multiple gold bearing zones. Ternera is the first of five targets identified at El Zorro to be drilled. Tesoro Managing Director Zeff Reeves commented: “Another solid set of assay results from Ternera highlight potential for a large scale gold deposit to be delineated. The infill holes returned indicate that the CC structures are consistently and continuously mineralised. Holes ZDDH00051 and ZDDH00057 are highly significant as they have opened new, wide gold zones to the NE and SE of Ternera, which considerably expand the scale of the deposit. Both zones are open in all directions and we have now drilled a number of step out holes looking to further expand the mineralised footprint.” Significant intercepts returned are presented in Table 1. A full table of significant intercepts is presented in Appendix 1. COMMENTARY Hole ZDDH00051 returned a wide intercept associated with the CC400, CC375 and CC350 fault zones and adjacent sheeted vein complexes. Multiple high-grade assays were returned of up to 27.60g/t Au, correlating well with previously reported visible gold occurrences (ASX Announcement, 17 September 2020). ZDDH00051 confirms gold mineralisation extends to the SE by approximately 100m and remains open. Additional holes have been drilled to extend this mineralisation by another 100m to the SE with assays remaining outstanding. Hole ZDDH00052 was an infill drill hole and returned multiple intercepts from the CC250, CC300 and CC350 fault zones. Holes ZDDH00053 and ZDDH00055 were infill holes which both returned multiple well mineralised intercepts from the CC300, CC350, CC400 and CC450 fault zones and associated sheeted vein complexes. In particular, hole ZDDH00055 intercepted three separate, well mineralised zones of 40.50m @ 1.51 g/t from 48.00m, 33.00m @ 1.36g/t Au from 200.00m and 6.00m @ 1.97g/t Au from 302.00 demonstrating the consistent and continuous nature of gold mineralisation within the CC fault system at Ternera. Hole ZDDH00055 is the 10th hole that has returned >100g/m intercept (137 g/m Au). Hole ZDDH00056 was drilled to test the NW extension of the CC675 and CC650 fault zones and returned a narrow intercept of 0.70m @ 3.09g/t Au from 236.00m. Hole ZDDH00057 has returned intercepts associated with the CC450 and CC500 fault zones, extending mineralisation along these zones by 100m and extending the Ternera drilled footprint to the NNE by approximately 150m. NEXT STEPS These results have identified areas which warrant additional infill drilling and will significantly increase the size of the current drilling program. Additional step out holes are also being drilled to further expand the mineralised footprint at Ternera. The Company continues to drill 24 hours per day with two diamond drill rigs on site and is planning to deploy additional drill rigs in early 2021 to rapidly define the Ternera deposit. 2 +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 Hole_ID From (m) To (m) Interval Au (g/t) Comments ZDDH0051 249.00 347.00 98.00 0.95 ZDDH0051 251.00 282.00 31.00 1.55 including ZDDH0051 251.00 265.00 14.00 2.71 including ZDDH0051 255.00 265.00 14.00 3.60 including ZDDH0051 258.00 264.00 6.00 4.86 including ZDDH0051 260.00 261.00 1.00 27.60 including ZDDH0051 264.00 265.00 1.00 9.85 including ZDDH0051 303.00 320.00 17.00 1.03 including ZDDH0051 317.00 318.00 1.00 5.99 including ZDDH0051 317.00 332.50 15.50 1.19 including ZDDH0051 328.00 347.00 19.00 1.25 including ZDDH0051 345.00 346.00 1.00 8.25 including ZDDH0052 10.00 11.00 1.00 1.35 ZDDH0052 25.00 67.00 42.00 0.44 ZDDH0052 25.50 26.50 1.00 2.25 including ZDDH0052 64.00 68.00 4.00 2.37 ZDDH0052 154.00 157.00 3.00 3.27 ZDDH0052 177.00 178.00 1.00 1.51 ZDDH0053 7.70 87.00 79.30 0.72 ZDDH0053 15.00 16.00 1.00 1.20 including ZDDH0053 36.00 37.00 1.00 1.12 including ZDDH0053 64.00 87.00 23.00 2.04 including ZDDH0053 64.00 80.50 16.50 2.50 including ZDDH0053 64.00 71.00 7.00 4.47 including ZDDH0053 66.00 69.00 3.00 7.89 including ZDDH0053 134.50 136.86 2.36 1.13 ZDDH0053 146.00 147.00 1.00 1.87 ZDDH0053 188.00 191.00 3.00 0.58 ZDDH0053 240.00 241.00 1.00 1.09 ZDDH0053 274.00 281.00 7.00 0.77 ZDDH0053 274.00 275.00 1.00 3.65 including ZDDH0053 280.00 281.00 1.00 1.11 including Hole_ID From (m) To (m) Interval Au (g/t) Comments ZDDH0055 20.00 241.20 221.20 0.62 ZDDH0055 21.00 22.00 1.00 3.19 including ZDDH0055 48.00 122.00 74.00 1.05 including ZDDH0055 48.00 88.50 40.50 1.51 including ZDDH0055 48.00 60.12 12.12 4.83 including ZDDH0055 77.00 80.00 3.00 16.88 including ZDDH0055 105.00 109.00 4.00 3.04 including ZDDH0055 168.00 169.00 1.00 2.00 including ZDDH0055 200.00 241.20 41.20 1.13 including ZDDH0055 200.00 233.00 33.00 1.36 including ZDDH0055 200.00 201.00 1.00 2.83 including ZDDH0055 207.00 208.00 1.00 6.51 including ZDDH0055 217.00 231.00 14.00 2.03 including ZDDH0055 223.00 231.00 8.00 2.64 including ZDDH0055 282.00 326.00 44.00 0.48 ZDDH0055 282.00 283.00 1.00 3.91 including ZDDH0055 302.00 308.00 6.00 1.97 including ZDDH0055 319.00 320.00 1.00 1.51 including ZDDH0055 325.00 326.00 1.00 3.77 including ZDDH0056 232.00 236.70 4.70 0.70 ZDDH0056 236.00 236.70 0.70 3.09 ZDDH0057 22.00 44.00 22.00 1.03 ZDDH0057 22.00 23.00 1.00 10.20 including ZDDH0057 22.00 30.00 8.00 1.61 including ZDDH0057 216.00 233.00 17.00 0.55 ZDDH0057 225.00 228.00 3.00 1.93 including ZDDH0057 274.00 351.00 77.00 1.13 ZDDH0057 279.00 321.00 42.00 1.97 including ZDDH0057 279.00 311.00 32.00 2.32 including ZDDH0057 283.00 298.00 15.00 3.25 including ZDDH0057 318.00 321.00 3.00 2.75 including Table 1 – Significant drill results for holes ZDDH00051, ZDDH00052, ZDDH00053, ZDDH00055, ZDH00056 and ZDDH00057, results are uncut, no top cut has been applied. A table of significant intercepts for previously reported holes is presented in Appendix 1. 3 +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 Figure 1 – Ternera Drilling – collar locations on geology with selected significant intercepts. Results reported in this announcement in gold highlight. PSAD56/19S datum. 4 +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 Figure 2 - Ternera Prospect chargeability 0.5 Vertical derivative Gradient Array Induced Polarisation image and current drill program completed holes colour coded to g/m intercept. PSAD56/19S datum. Authorised by the Board of Tesoro Resources Limited. For more information: Company: Zeff Reeves Managing Director Tesoro Resources Limited +61 8 9322 1587 5 Investors: Peter Taylor NWR Communications +61 (0) 412 036 231 peter@nwrcommunications.com.au +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 About Tesoro 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 has rights to acquire up to 80% of the El Zorro Gold Project. Competent Persons Statement The information in this report 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 a Director and major 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 report of the matters based on this information in the form and context in which it appears. Future Performance This announcement may contain certain forward-looking statements and opinion. Forward-looking statements, 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 the Company and which are subject to change without notice and could cause the actual results, performance or achievements of the Company 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 no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Nothing contained in this announcement nor any information made available to you is, or and shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Tesoro. 6 +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 APPENDIX 1 – Significant Intercept Table Hole_ID ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0001 ZDDH0002 ZDDH0002 ZDDH0002 ZDDH0002 ZDDH0002 ZDDH0003 ZDDH0003 ZDDH0003 ZDDH0003 ZDDH0003 ZDDH0003 ZDDH0003 ZDDH0004 ZDDH0004 ZDDH0004 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0005 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0006 ZDDH0007 ZDDH0007 ZDDH0007 ZDDH0007 ZDDH0007 ZDDH0008 ZDDH0008 7 From (m) 5.00 5.00 5.00 12.00 14.30 33.64 44.30 64.00 75.50 75.50 107.00 117.00 5.70 8.80 8.80 51.70 58.00 21.00 21.00 21.00 37.20 47.30 64.00 90.00 5.00 56.00 57.00 4.00 4.00 9.80 9.80 51.60 65.00 72.00 72.00 72.00 100.60 130.00 135.80 0.00 2.40 22.60 24.00 46.70 61.10 108.30 133.50 148.00 180.10 180.10 184.00 207.00 226.00 236.00 1.00 39.00 39.00 104.85 117.40 35.00 58.00 To (m) 119.00 15.00 51.30 13.00 15.00 39.00 51.30 65.00 79.00 76.00 112.00 119.00 68.00 24.30 14.00 68.00 61.00 77.30 27.00 22.83 43.00 48.00 77.30 91.00 66.00 66.00 61.00 42.65 32.00 28.00 10.15 52.00 67.00 85.90 75.00 73.00 102.00 132.60 136.80 88.00 3.00 25.95 25.00 50.30 64.02 116.00 135.60 151.80 244.00 181.10 186.00 212.00 227.00 244.00 4.00 66.20 58.00 110.00 118.00 41.10 59.00 Interval 114.00 10.00 46.30 1.00 0.70 5.36 7.00 1.00 3.50 0.50 5.00 2.00 62.30 15.50 5.20 16.30 3.00 56.30 6.00 1.83 5.80 0.70 13.30 1.00 61.00 10.00 4.00 38.65 28.00 18.20 0.35 0.40 2.00 13.90 3.00 1.00 1.40 2.60 1.00 88.00 0.60 3.35 1.00 3.60 2.92 7.70 2.10 3.80 63.90 1.00 2.00 5.00 1.00 8.00 3.00 27.20 19.00 5.15 0.60 6.10 1.00 Au (g/t) 0.35 0.55 0.45 1.64 2.35 0.97 0.67 2.50 0.89 4.82 1.11 2.05 0.54 1.15 1.96 0.78 3.62 0.50 1.96 5.24 1.27 2.00 0.41 1.53 0.97 4.53 9.60 0.65 0.84 1.17 20.10 2.03 1.03 0.52 1.90 4.32 2.07 0.66 12.20 0.15 0.75 2.14 6.10 0.32 0.42 0.30 1.30 0.59 0.23 0.55 1.06 0.77 0.55 0.66 4.75 0.70 0.80 0.34 2.75 0.28 1.43 Comments including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including Hole_ID From (m) To (m) ZDDH0009 4.00 6.00 ZDDH0009 12.55 38.00 ZDDH0009 21.00 26.00 ZDDH0009 48.00 48.50 ZDDH0009 78.00 83.00 ZDDH0010 31.00 33.00 ZDDH0010 60.00 61.00 ZDDH0010 66.00 67.00 ZDDH0010 75.00 159.30 ZDDH0010 75.00 104.00 ZDDH0010 82.50 86.45 ZDDH0010 91.00 102.00 ZDDH0010 93.00 97.00 ZDDH0010 120.00 126.00 ZDDH0010 149.00 159.00 ZDDH0011 176.00 274.30 ZDDH0011 181.70 212.00 ZDDH0011 196.40 212.00 ZDDH0011 203.00 203.70 ZDDH0011 203.00 212.00 ZDDH0011 217.00 222.00 ZDDH0011 246.60 256.40 ZDDH0012 0.00 58.80 ZDDH0012 1.70 22.00 ZDDH0012 1.70 8.40 ZDDH0012 2.30 4.70 ZDDH0012 17.60 22.00 ZDDH0012 17.60 20.00 ZDDH0012 53.20 58.80 ZDDH0012 53.20 56.00 ZDDH0012 151.80 152.20 ZDDH0013 0.00 3.00 ZDDH0013 9.00 14.30 ZDDH0013 25.00 29.80 ZDDH0013 28.55 29.80 ZDDH0013 46.30 70.00 ZDDH0013 46.30 51.50 ZDDH0013 51.25 65.35 ZDDH0013 58.00 65.35 ZDDH0013 102.00 104.00 ZDDH0013 136.00 137.30 ZDDH0013 165.00 173.60 ZDDH0013 170.40 173.00 ZDDH0014 15.30 70.60 ZDDH0014 15.30 34.00 ZDDH0014 15.30 26.30 ZDDH0014 23.00 26.30 ZDDH0014 64.60 70.60 ZDDH0014 64.60 67.35 ZDDH0014 112.00 122.50 ZDDH0014 115.00 117.00 ZDDH0014 177.20 179.00 ZDDH0015 37.90 39.70 ZDDH0015 91.90 132.70 ZDDH0015 91.90 94.60 ZDDH0015 112.00 116.00 ZDDH0015 240.60 242.00 ZDDH0015 265.90 269.00 ZDDH0016 125.00 131.72 ZDDH0016 152.00 204.60 ZDDH0016 188.10 194.00 ZDDH0016 188.58 188.90 ZDDH0016 203.60 204.60 ZDDH0016 281.00 290.00 ZDDH0016 287.50 290.00 Interval 2.00 25.45 5.00 0.50 5.00 2.00 1.00 1.00 84.30 29.00 3.95 11.00 4.00 6.00 10.00 98.30 30.30 15.60 0.70 9.00 5.00 9.80 58.80 20.30 6.70 2.40 4.40 2.40 5.60 2.80 0.40 3.00 5.30 4.80 1.25 23.70 5.20 14.10 7.35 2.00 1.30 8.60 2.60 55.30 18.70 11.00 3.30 6.00 2.75 10.50 2.00 1.80 1.80 40.80 2.70 4.00 1.40 3.10 6.72 52.60 5.90 0.32 1.00 9.00 2.50 Au (g/t) Comments 1.39 0.51 1.09 including 2.19 0.59 2.47 1.16 1.04 1.30 2.95 including 4.97 including 4.70 including 8.50 including 1.11 including 1.07 including 1.58 3.03 including 3.87 including 21.70 including 5.07 including 4.13 including 2.28 including 1.70 4.50 including 12.21 including 33.35 including 2.00 including 2.82 including 0.95 1.42 including 2.29 0.83 0.41 0.72 2.14 including 0.85 1.24 including 1.08 including 1.65 including 0.79 4.97 1.60 2.80 including 1.01 2.19 including 3.40 including 6.18 including 2.03 including 5.00 including 0.52 1.75 including 2.37 1.11 0.37 1.64 including 1.13 including 8.46 0.64 1.47 0.62 3.30 including 31.30 including 3.00 including 0.36 0.77 including +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 Hole_ID ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0017 ZDDH0018 ZDDH0018 ZDDH0018 ZDDH0018 ZDDH0019 ZDDH0019 ZDDH0019 ZDDH0020 ZDDH0021 ZDDH0021 ZDDH0021 ZDDH0021 ZDDH0021 ZDDH0021 ZDDH0021 ZDDH0022 ZDDH0022 ZDDH0022 ZDDH0022 ZDDH0022 ZDDH0023 ZDDH0023 ZDDH0023 ZDDH0023 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0024 ZDDH0025 ZDDH0025 ZDDH0025 ZDDH0025 ZDDH0025 ZDDH0025 ZDDH0025 ZDDH0025 ZDDH0026 ZDDH0026 ZDDH0026 ZDDH0026 ZDDH0027 ZDDH0027 ZDDH0027 ZDDH0027 8 From (m) 44.00 44.00 44.00 70.00 103.46 167.55 182.70 183.22 190.00 197.00 200.00 187.27 187.27 197.00 189.00 21.00 36.00 74.00 87.30 100.92 107.50 100.92 189.25 189.25 189.25 193.90 30.00 78.00 94.40 105.00 105.00 146.70 146.70 273.00 276.00 6.00 41.00 41.00 44.10 54.50 56.50 66.00 155.00 162.20 161.80 49.00 73.10 75.00 104.00 110.00 148.00 148.00 155.20 92.00 105.40 233.00 240.00 176.00 176.00 176.00 176.00 To (m) 74.00 60.10 47.00 74.00 105.60 254.00 233.20 206.22 205.00 202.30 202.30 222.00 211.00 199.70 204.00 89.52 45.00 79.00 87.60 116.50 112.00 101.70 208.50 201.30 195.40 195.40 31.00 119.17 95.45 119.17 110.32 151.00 149.00 277.00 277.00 9.00 78.00 45.50 45.50 57.00 69.50 69.50 169.00 163.50 167.00 170.55 84.00 82.00 118.00 113.60 160.27 170.55 159.90 110.00 110.00 242.00 242.00 206.50 202.00 188.00 182.00 Interval 30.00 16.10 3.00 4.00 2.14 86.45 50.50 23.00 15.00 5.30 2.30 34.73 23.73 2.70 15.00 68.52 9.00 5.00 0.30 15.58 4.50 0.78 19.25 12.05 6.15 1.50 1.00 41.17 1.05 14.17 5.32 4.30 2.30 4.00 1.00 3.00 37.00 4.50 1.40 2.50 13.00 3.50 14.00 1.30 5.20 121.55 10.90 7.00 14.00 3.60 12.27 22.55 4.70 18.00 4.60 9.00 2.00 30.50 26.00 12.00 6.00 Au (g/t) 0.94 1.05 4.27 4.26 1.76 2.29 3.63 7.20 10.82 25.31 46.41 2.94 4.09 22.21 5.99 0.47 1.34 1.23 3.33 0.95 1.24 8.44 2.86 4.25 7.37 20.82 3.16 1.38 2.98 3.25 6.54 7.25 13.30 1.06 3.32 1.63 0.86 2.12 5.93 1.87 1.12 2.53 3.06 19.72 6.97 1.32 4.57 6.14 1.63 4.97 4.98 2.98 10.69 1.36 4.99 1.85 7.31 0.40 0.44 0.64 1.21 Comments including including including including including including including including including including including including including including including including open downhole including including including including including including including including including including including including including including including including including including including including including including including including including including including Hole_ID ZDDH0028 ZDDH0028 ZDDH0028 ZDDH0028 ZDDH0028 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0029 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0030 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0031 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0032 ZDDH0033 ZDDH0033 ZDDH0033 ZDDH0033 ZDDH0033 ZDDH0033 From (m) 14.00 21.00 25.00 42.00 43.90 29.50 29.50 29.50 43.00 56.64 72.00 91.00 121.00 121.00 167.40 176.30 180.00 193.00 5.20 50.00 66.00 66.00 66.00 70.00 101.00 117.00 117.00 165.00 195.40 202.95 72.00 72.00 72.00 100.00 100.00 118.30 146.40 171.60 193.30 193.30 193.30 204.34 204.34 228.00 248.00 291.00 3.20 17.30 43.50 75.00 128.00 128.00 132.63 157.00 171.00 178.30 178.30 191.00 40.00 57.00 59.00 100.00 134.70 143.00 To (m) 14.75 28.00 25.90 49.00 45.00 206.00 93.00 31.20 48.00 61.84 80.00 93.00 130.70 122.00 195.00 185.90 183.00 195.00 6.40 76.00 76.00 71.10 67.00 71.10 102.50 120.00 119.13 167.00 199.00 203.90 303.00 126.00 75.60 104.44 125.00 125.00 154.00 173.00 217.60 208.00 197.00 217.60 208.00 229.00 263.90 295.00 6.00 18.30 44.00 76.00 204.00 140.00 135.00 162.00 174.80 197.00 179.40 197.00 68.00 67.00 63.00 104.00 137.00 144.00 Interval 0.75 7.00 0.90 7.00 1.10 176.50 63.50 1.70 5.00 5.20 8.00 2.00 9.70 1.00 27.60 9.60 3.00 2.00 1.20 26.00 10.00 5.10 1.00 1.10 1.50 3.00 2.13 2.00 3.60 0.95 231.00 54.00 3.60 4.44 25.00 6.70 7.60 1.40 24.30 14.70 3.70 13.26 3.66 1.00 15.90 4.00 2.80 1.00 0.50 1.00 76.00 12.00 2.37 5.00 3.80 18.70 1.10 6.00 28.00 10.00 4.00 4.00 2.30 1.00 Au (g/t) 3.23 0.85 5.03 0.61 1.10 0.85 1.81 1.20 2.76 3.36 1.24 33.00 0.53 3.20 0.85 1.82 4.75 1.75 0.74 0.69 1.54 2.64 6.89 5.73 1.13 3.23 4.15 4.05 1.41 5.12 0.83 1.69 1.27 1.04 3.36 11.57 0.79 1.40 2.43 3.77 4.16 3.25 10.76 2.17 1.04 1.00 1.23 7.09 5.70 5.02 0.93 1.39 4.30 2.41 1.92 1.57 5.15 2.58 1.22 3.17 5.96 1.51 1.27 1.45 Comments including including including including including including including including including including including including including including including including including open downhole open downhole including including including including including including including including including including including including including including including including including including including including including including including +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 Hole_ID ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0034 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0035 ZDDH0036 ZDDH0036 ZDDH0036 ZDDH0036 ZDDH0036 ZDDH0036 ZDDH0036 ZDDH0037 ZDDH0037 ZDDH0037 ZDDH0037 ZDDH0037 ZDDH0037 ZDDH0037 ZDDH0037 ZDDH0037 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0038 ZDDH0039 ZDDH0039 ZDDH0039 ZDDH0039 ZDDH0039 ZDDH0039 ZDDH0039 ZDDH0039 ZDDH0040 ZDDH0040 ZDDH0040 ZDDH0040 ZDDH0040 ZDDH0040 ZDDH0040 ZDDH0040 ZDDH0040 ZDDH0041 ZDDH0041 ZDDH0041 ZDDH0041 ZDDH0041 From (m) 17.00 23.00 27.00 62.22 87.00 89.00 105.40 116.00 172.00 180.40 193.00 202.00 67.00 81.10 89.00 84.00 144.00 153.00 162.00 199.00 192.00 224.00 224.00 277.00 74.00 74.00 88.30 104.00 114.00 165.00 215.00 42.00 42.00 56.00 56.00 62.00 149.00 149.00 162.00 162.00 23.00 74.20 74.20 92.00 105.00 148.00 178.00 185.00 200.00 202.00 2.50 78.70 188.00 212.00 212.00 226.00 237.00 268.00 136.00 136.00 136.00 142.00 160.00 161.00 182.00 195.00 288.00 2.00 6.00 23.50 23.50 29.00 To (m) 28.00 24.00 28.00 63.34 92.84 91.00 106.00 117.00 173.00 181.50 194.00 203.00 68.00 110.34 94.00 106.00 155.00 155.00 164.00 200.00 238.00 238.00 233.00 278.00 125.00 96.00 96.00 105.00 115.00 166.00 216.00 65.00 42.68 65.00 57.00 64.00 172.00 154.00 172.00 168.00 24.00 113.00 77.00 93.00 106.00 152.00 186.00 186.00 208.10 204.00 5.60 81.00 252.50 232.00 218.00 227.00 238.00 269.00 197.00 152.00 146.00 146.00 164.00 162.00 188.00 197.00 291.00 12.00 8.00 52.00 32.00 32.00 Interval 11.00 1.00 1.00 1.12 5.84 2.00 0.60 1.00 1.00 1.10 1.00 1.00 1.00 29.24 5.00 22.00 11.00 2.00 2.00 1.00 46.00 14.00 9.00 1.00 51.00 22.00 7.70 1.00 1.00 1.00 1.00 23.00 0.68 9.00 1.00 2.00 23.00 5.00 10.00 6.00 1.00 38.80 2.80 1.00 1.00 4.00 8.00 1.00 8.10 2.00 3.10 2.30 64.50 20.00 6.00 1.00 1.00 1.00 61.00 16.00 10.00 4.00 4.00 1.00 6.00 2.00 3.00 10.00 2.00 28.50 8.50 3.00 Au (g/t) 0.79 4.59 1.77 2.85 1.12 2.45 1.15 1.17 1.68 6.58 2.73 2.12 2.67 1.05 4.11 1.34 1.15 4.41 1.03 1.76 0.72 1.86 2.59 1.63 1.07 2.16 5.04 2.33 2.84 1.11 1.60 0.40 1.55 0.70 2.47 1.32 0.82 1.47 0.92 1.04 3.12 0.49 2.06 4.39 2.11 1.17 0.50 2.48 1.12 3.72 0.39 1.43 0.47 0.84 1.49 3.86 2.30 1.62 0.75 1.96 2.61 5.34 0.95 2.84 0.72 2.75 1.24 0.55 1.33 0.38 0.48 0.99 Comments including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including Hole_ID ZDDH0041 ZDDH0041 ZDDH0041 ZDDH0041 ZDDH0041 ZDDH0042 ZDDH0042 ZDDH0043 ZDDH0043 ZDDH0043 ZDDH0043 ZDDH0043 ZDDH0043 ZDDH0043 ZDDH0044 ZDDH0044 ZDDH0045 ZDDH0045 ZDDH0045 ZDDH0045 ZDDH0045 ZDDH0045 ZDDH0045 ZDDH0046 ZDDH0046 ZDDH0046 ZDDH0046 ZDDH0046 ZDDH0046 ZDDH0047 ZDDH0047 ZDDH0047 ZDDH0047 ZDDH0047 ZDDH0047 ZDDH0047 ZDDH0047 ZDDH0047 ZDDH0048 ZDDH0048 ZDDH0048 ZDDH0048 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0049 ZDDH0050 ZDDH0050 ZDDH0050 ZDDH0050 ZDDH0050 ZDDH0050 ZDDH0050 ZDDH0050 ZDDH0050 ZDDH0054 ZDDH0054 ZDDH0054 ZDDH0054 ZDDH0054 ZDDH0054 From (m) 40.00 106.20 127.50 140.00 141.65 112.00 126.00 5.30 5.30 9.50 80.00 81.00 103.00 241.00 104.00 104.00 23.00 36.00 36.00 97.00 196.30 197.00 196.30 17.60 26.00 28.00 180.00 223.00 248.60 30.00 35.00 74.00 97.00 97.00 97.00 130.00 210.00 288.00 45.00 53.50 47.00 80.00 124.00 124.00 154.00 124.00 124.00 159.00 159.00 177.00 213.00 215.00 227.00 231.00 245.00 285.00 290.00 6.00 7.00 92.00 157.00 183.00 192.00 202.00 205.00 220.00 91.00 104.00 118.50 252.00 280.00 336.00 To (m) 46.00 108.00 128.00 145.00 143.50 127.00 127.00 56.00 22.50 13.00 105.00 85.00 105.00 242.00 107.00 105.00 50.00 46.20 40.00 98.00 203.00 198.50 199.00 39.00 31.00 31.00 181.00 224.00 250.00 134.50 36.00 75.00 134.80 109.00 99.00 134.80 211.00 289.00 90.00 54.50 55.00 83.00 235.50 182.00 181.50 141.00 125.00 172.00 165.00 182.00 235.50 218.00 235.50 235.50 246.00 286.00 291.00 16.00 8.00 93.00 222.00 185.00 193.00 209.00 207.50 221.00 110.00 108.00 119.20 253.00 281.00 337.00 Interval 6.00 1.80 0.50 5.00 1.85 15.00 1.00 50.70 17.20 3.50 25.00 4.00 2.00 1.00 3.00 1.00 27.00 10.20 4.00 1.00 6.70 1.50 2.70 21.40 5.00 3.00 1.00 1.00 1.40 104.50 1.00 1.00 37.80 12.00 2.00 4.80 1.00 1.00 45.00 1.00 8.00 3.00 111.50 58.00 27.50 17.00 1.00 13.00 6.00 5.00 22.50 3.00 8.50 4.50 1.00 1.00 1.00 10.00 1.00 1.00 65.00 2.00 1.00 7.00 2.50 1.00 19.00 4.00 0.70 1.00 1.00 1.00 Au (g/t) 0.61 3.49 29.90 5.91 15.22 0.68 5.64 0.45 0.94 3.44 0.41 0.87 1.60 1.02 0.92 2.25 0.59 1.07 1.80 1.91 1.10 3.21 2.70 1.17 3.75 5.71 1.11 1.45 1.35 0.56 2.98 2.03 1.23 2.68 11.00 2.71 1.78 1.19 0.54 3.15 1.02 4.18 1.25 2.04 3.57 1.11 10.25 5.32 4.17 5.14 0.89 1.39 1.81 3.07 1.66 3.81 1.12 1.56 10.65 2.55 0.84 2.02 2.35 5.84 15.92 1.27 0.46 1.48 1.72 1.23 8.75 1.23 Comments including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including including *For full results for holes ZDDH00001 to ZDDH00016, refer to Plukka Ltd Prospectus 30 October 2019. For results of ZDDH00017 to ZDDH00036 refer to TSO:ASX announcements 6 March,12 March, 27 April, 6 May, 27 May 2020, 10 June 2020, 26 August 2020 , 4 September 2020, 9 October 2020, 23 October 2020 and 4 November 2020. 9 +61 8 9322 1587 | info@tesororesources.com.au | Suite 5, 62 Ord Street, West Perth WA 6005 | www.tesororesources.com.au ASX Announcement 24 November 2020 APPENDIX 2 – DRILL HOLE DETAILS Hole ID ZDDH00028 ZDDH00029 ZDDH00030 ZDDH00031 ZDDH00032 ZDDH00033 ZDDH00034 ZDDH00035 ZDDH00036 ZDDH00037 ZDDH00038 ZDDH00039 ZDDH00040 ZDDH00041 ZDDH00042 ZDDH00043 ZDDH00044 ZDDH00045 ZDDH00046 ZDDH00047 ZDDH00048 ZDDH00049 ZDDH00050 ZDDH00051 ZDDH00052 ZDDH00053 ZDDH00054 ZDDH00055 ZDDH00056 ZDDH00057 ZDDH00058 ZDDH00059 ZDDH00060 ZDDH00061 ZDDH00062 ZDDH00063 ZDDH00064 ZDDH00065 ZDDH00066 ZDDH00067 ZDDH00068 ZDDH00069 ZDDH00070 ZDDH00071 ZDDH00072 ZDDH00073 ZDDH00074 Hole Location Northing Easting Elevation 7036049 341605 581 7036351 341849 603 7036061 341676 569 7036290 341875 605 7036047 341757 584 7036305 341846 599 7036149 341781 579 7036349 341876 612 7036169 341840 597 7036387 341829 624 7036118 341693 584 7036452 341942 658 7036257 341878 607 7036092 341621 591 7036595 341800 610 7036203 341796 584 7036501 341643 588 7036243 341751 610 7036220 341742 613 7036100 341774 578 7036298 341760 615 7036228 341897 626 7036327 341767 631 7036127 341955 646 7036144 341740 601 7036251 341821 588 7036573 341763 607 7036235 341843 609 7036538 341927 640 7036231 341842 605 7036484 341928 654 7036189 341929 636 7036348 341872 618 7036499 341765 605 7036333 341803 624 7036466 341895 637 7036096 341836 604 7036542 341918 636 7035966 341793 616 7036389 341781 647 7036371 341744 62