Turmalina Metals Corp. provided an update of results from ongoing exploration at the San Francisco de Los Andes Project (“San Francisco” or the “Project”), located in the prolific San Juan province. Highlights from this new release: Total land position expanded to 40,340 ha (403.4 sq km), one of the exploration land positions in San Juan.

Seven new high-priority targets identified. Work has included collection of 7,927 soil samples, 1,240 m of channel samples and 7,074 rock chip samples. Highlight results from recent work include: Tres Magos: 18 rock chip samples and 50 channel samples over 1 g/t Au, including 12m @ 7.1 g/t Au and 115 g/t Ag, 3.7m @ 1.71 g/t Au and 102 g/t Ag, 3.5m @ 1.6 g/t Au and 30 g/t Ag and 3m @ 3.2 g/t Au and 186 g/t Ag; Veta Amarilla: 5 rock chip samples over 1 g/t Au and 8 rock chip samples over 100 g/t Ag; Breccia Ethan: 4 rock chip samples over 1g/t Au and 12 rock chip samples over 1% Cu; Veta Rica: 18 rock chip samples over 1 g/t Au, with up to 56 g/t Au.

Exploration efforts since April 2022 have been focused on defining and progressing additional targets outside of the well-mineralized San Francisco breccia and the breccia targets tested in the Company's 2021 drill program. Mining rights consolidation also continued during this time and the Company has expanded its land holdings by 5,840 ha (17%) to a total area of 40,340 ha. The work from the technical team has identified seven priority targets for follow up.

Tres Magos: Intrusion-related gold and silver mineralisation at Tres Magos is hosted in areas of intense quartz stockwork, with iron oxides after sulphides, hosted in strongly sericite-altered granodiorite. Areas with continuous gold and silver grades (i.e. 12m @ 7.1 g/t Au & 115/t Ag) can reach up to 15 metres and are limited by the current level of exposure. Multigram gold and silver values are common in channel samples, with up to 22 g/t Au and 699 g/t Ag over 1 metre samples.

Work planned includes opening road access and generating more exposures for continuous channel sampling to better map mineralised areas for drill planning. Veta Amarilla: A 900m long quartz vein system, up to 6 metres thick, composed of saccharoidal quartz and secondary lead carbonates. Strong silver values are normally associated with high-grade lead mineralization, with rock chip results of up to 3.5 g/t Au, 565 g/t Ag and 30 % Pb.

Veta Amarilla has characteristics similar to the old Castano Viejo district, where intermediate sulphidation epithermal veins were mined in the past. Breccia Ethan: An 80 m wide tourmaline breccia pipe with widespread copper oxides located at the contact between sediments of the Agua Negra Formation and the Tocota Granodiorite. Rockchip sampling of the breccia has returned encouraging results of up to 3.3 g/t Au and 5.3% Cu.

Veta Rica: A 300m long quartz vein that is up to 8m thick. The vein is comprised of saccharoidal quartz with hematite and boxwork after sulphides. Brecciated (including microbreccias) zones occur along the contact with the granodiorite, with results up to 56.7 g/t Au, 32g/t Ag and 0.3% Pb.

Veta Miranda: A quartz-tourmaline vein system, hosted by Tocota granodiorites, with multiple veins: the central vein, which is 1.5 km long and up to 8 m wide, and the Northern and Southern veins that are approximately 700 to 800 m long: totaling over 3 km of veins. Initial sampling along this extensive system has returned up to 2 g/t Au, 411 g/t Ag and 5% Cu. Don David: The Don David project hosts the Alumbrera carbonate-silica vein, which has 1.8 km of strike length and is up to 20 m thick.

Abundant bladed calcite within the vein indicates a low sulphidation epithermal origin with extensive boiling. These shallow boiling zones can form pockets of bonanza gold grades in colloform and crustiform quartz immediately beneath the bladed calcite zones. Initial rock chip sampling has returned up to 0.47 g/t Au in colloform silica banding.

The Alumbrera vein is close to the Dios Protege and San Agustin vein systems: two formally mined vein systems that are located outside the licence. Dios Protege and San Agustin are characterised by a deeper, gold-bearing colloform and crustiform silica assemblage, indicating that similar gold mineralisation may occur under the bladed calcite at Alumbrera. Our drill program at Alumbrera will focus on the testing the vein at depth.