Sendero Resources Corp. press release

Sendero Resources Announces Non-Brokered Private Placement

2026-11-04

TSXV - TSX Venture Exchange · Copper · Gold · Silver · Molybdenum · Zinc · Arsenic · Canada · Financing

(TheNewswire)

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Vancouver, British Columbia – November 4, 2026 – TheNewswire -Sendero Resources Corp. (TSXV: SEND) (FSE:9O40) (the “Company” or “Sendero”) is pleased to announce a non-brokered private placement of up to 3,700,000 units of the Company (the “Units”) at a price of C$0.53 per Unit for aggregate gross proceeds of up to C$1,961,000 (the “Private Placement”). Each Unit will consist of one common share (a “Common Share”) and one common share purchase warrant (a “Warrant”) with each Warrant entitling the holder to purchase one Common Share at a price of C$0.70 for 36 months from the date of issuance.

The private placement is subject to approval of the TSX Venture Exchange ("TSXV"), and all securities issued under the private placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the private placement.

The net proceeds of the Private Placement will be used to fund the first deep drill test of the La Ollita target at the Company’s 100%-owned Peñas Negras Project in La Rioja, Argentina. The deep hole is separate from, and in addition to, the Company’s planned and fully funded 2026–2027 diamond drilling program, which is unchanged.

Highlights

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Proceeds directed to the first deep hole at La Ollita, where historical drilling is shallow and the Company’s 3D magnetic model interprets an untested root zone of magnetite-destructive alteration extending beneath the known mineralization.

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The La Ollita deep test hole is additional to, and does not change, the Company’s broader exploration plan across the several geological systems at Peñas Negras.

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No finder’s fees or commissions are payable in connection with the Private Placement.

“Our 2026–2027 drill program on the southwestern extents of the inferred Mogotes structural corridor is fully funded, and this financing lets us add something we have long wanted to do, test La Ollita at depth,” said Jeremy Gillis, Interim CEO of Sendero. “Deep drilling has always been outside our exploration budget, yet every hole at La Ollita to date has stayed in the upper part of the system. This gives us two independent opportunities on the project.”

The La Ollita Deep Target

Historical drilling at La Ollita has been relatively shallow: the deepest hole to date reached 501 m. As reported on October 8, 2026, the Company’s 3D inversion and classification of airborne magnetic data shows a lithocap at surface at La Ollita, with an interpreted root zone of magnetite-destructive alteration extending beneath the known mineralization. The deeper part of the system has not been tested. The Company plans to drill one hole of 800 m or more, potentially 1,000–1,200 m, angled to cross the north–south structure at depth.

Peñas Negras hosts several distinct geological systems across its 211.77 km² project area. Until now, the Company had not planned deep drilling at La Ollita because of its high cost. Testing a possible extension of copper and gold mineralization at depth has always been an objective, but it was not within the exploration budget. In the Company’s view, the geology and the near-surface mineralization at La Ollita are consistent with a larger, more robust mineralized system at depth, which this hole is designed to test.

Why La Ollita:

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61 holes have been drilled at La Ollita since 1997. Half stop within 150 m of surface; the deepest is 501 m.

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Several historical holes ended in mineralization and were never deepened: PNR-56 averaged 0.79% CuEq over its last 20 m to its final depth of 348 m, PND-01 reported 0.47% CuEq to 196 m and PNR-22 reported 0.35% CuEq to 156 m. In PND-01, copper and molybdenum both increase with depth

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Historical hole PNR-28 returned 90 m at 0.93% CuEq, including 2 m at 20.6 g/t Au from 130 m.

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The 2024 core includes features typical of the copper-rich part of these systems: potassic alteration from 68 m in PNDH-06, early quartz veins in all four deep holes, and chalcopyrite and molybdenite.

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Magnetic susceptibility measurements on 1,580 drill core samples of La Ollita drill core is about 35 times lower than in fresher rock drilled elsewhere on the project, consistent with the magnetite-destructive alteration interpreted in the 3D model.

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La Ollita sits where the north-west-trending La Ollita fault meets north–south and north-north-east faults, the type of structural intersection associated with porphyry intrusions in the Vicuña district.

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La Ollita lies about 12 km from Josemaria and 32 km from Filo del Sol, in the Vicuña district.

[](https://www.thenewswire.com/data/tnw/clients/img/4430ca79315e8ceb384616ce8be7c13e.png) Click Image To View Full Size

Figure 1: East–west section through La Ollita from the Company’s 3D magnetic model (looking north, no vertical exaggeration). Historical drill holes are shown in black, with intervals of 0.3% CuEq or more in yellow (enlarged in the close-up). The magnetite-destructive root zone (Class 2 of the classification reported on October 8, 2026) is interpreted to continue beneath the drilling for at least 1.9 km, to the base of the detailed La Ollita model. The planned hole is indicative only.

Investors can explore La Ollita for themselves, including the root zone shown in Figure 1, in the interactive 3D magnetic models launched on October 15, 2026: https://senderoresources.com/projects/penas-negras/Interactive-3D-Maps. CuEq values in this news release are from the Company’s rebuilt drill assay database and follow the assumptions disclosed in the Company’s September 23, 2026 news release.

Certain directors and officers of the Company may acquire securities under the private placement. Any such participation would be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). Such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.

The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Qualified Person

Steven McMullan, P. Geo., a consultant to the Company and member of the Board supervised the preparation of and reviewed and approved the scientific and technical information pertaining to the La Ollita target and the Peñas Negras Project contained in this news release. Mr. McMullan is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Sendero Resources Corp.

The Company is focused on copper-gold exploration at its 100% owned Peñas Negras Project in the Vicuña Belt in Argentina. The Peñas Negras Project has similar geological characteristics to other deposits in the Vicuña Belt and multiple porphyry and high-sulfidation epithermal targets have been identified on the project. The Company’s target area is located approximately 12 km north-northeast of the Josemaria resource area, while the centre of the Peñas Negras concession area is situated approximately 18 km southeast of Caserones mine operated by Lundin Mining, approximately 24 km northeast of NGEx Minerals’ Lunahuasi project, and about 32 km north-northeast of BHP-Lundin Mining’s Filo del Sol development stage project. The Company also has an option to earn a 100% interest on eight additional granted mining concessions covering 91.7 km2. The total project area comprises 211.77 km2.

Further Information

For further information, please contact:

Sendero Resources Corp., Jeremy Gillis, Interim Chief Executive Officer Email:info@senderoresources.com

+1 (236) 232-0988

Follow Sendero Resources (@SenderoRes) on X, () on LinkedIn, and (@sendero_resources) on Instagram.

Cautionary Statement on Forward-Looking Information

Forward-looking statements in this news release include, but are not limited to, statements regarding the completion and size of the Private Placement, receipt of TSXV approval, the use of proceeds, the planned drill testing of the La Ollita target and its depth and timing, the Company’s 2026–2027 drill program, and the interpretation of the Company’s 3D magnetic model.

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected” “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Specifically, there is no assurance the Company will be successful in closing the private placement on the terms outlined above, or at all. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Cautionary Statement

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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