Slide 1: Exploring Copper-Gold Assets at Peñas Negras
Exploring Copper-Gold Assets at PEÑAS NEGRAS TSXV: SEND Ritsuko Los Helados Cerro Verde Lunahuasi Cerro Verde Sur Norte Tamberías Josemaría La Peña Punta Negra La Ollita Technical Presentation Surrounded by Giants October 2025 in the Vicuña District, Argentina
Slide 2: Notice to Potential Investor
Notice to Potential Investor Disclaimer and Caution This presentation amends and restates in its entirety the Investor Presentation of the Corporation Any copying, reproduction, republishing, translation, transmission, modification, distribution or dated July 9, 2025 titled “Exploring the Copper-Gold
Slide 3: Why Invest in Sendero Resources
Why Invest in Sendero Resources Peñas Negras Buenos Aires ARGENTINA Prime Jurisdiction Outstanding Team Attractive Valuation 100% ownership of 120 km2 of claims Alex Gostevskikh, MS Geology, MBA, Attractive entry point to in highly prospective areas with QP MMSA, over 40 years of participate in the
Slide 4: Argentina is open for Business
Argentina is open for Business Figure 10: Investment Attractiveness Index - Argentina, Latin America, ● 3rd Largest Economy in Latin America and the Caribbean Basin ● 10 Operational Gold Mines. 5th largest producer in Latin America Guayana* ● The Incentive Regime for Large San Juan Investments (RIGI
Slide 5: The Vicuña Copper-Gold Belt
The Vicuña Copper-Gold Belt Recently identified Copper Gold Belt in the Heart of Frontal Cordillera Recent discoveries in the Vicuña include: ● Filo del Sol – 1,626 Mt ore (Indicated) grading 0.49% Cu and 0.36 g/t Au (2025); ● Josemaria – 1,646 Mt ore (Measured and Indicated) grading 0.28% Cu and 0.1
Slide 6: Emerging Vicuña Belt
Emerging Vicuña Belt Giant Cluster of Telescoped Porphyry Systems ● Vicuña belt formally defined for the first time in May 2023 by Sillitoe et al1, in geological paper: Geology of Porphyry Cu-Au and Epithermal Cu-Au-Ag Mineralization at Filo del Sol, Argentina-Chile: Extreme Telescoping During Andean
Slide 7: Peñas Negras Project Overview
Peñas Negras Project Overview • 100% ownership of 120 km2 of claims with option to earn 100% in additional 91.7 km2 for total of 211.7 km2 • Surrounded by world-class giant discoveries: Vicuña (Josemaria & Filo del Sol) - JV between Lundin Mining & BHP; One of the world’s largest copper, gold, and s
Slide 8: Excellent Infrastructure
Excellent Infrastructure Caserones Access Road 22 km The current access road provides two logistical routes: Guandacol and Vinchina Caserones CHILE Lundin Mining/JX Nippon Production Los Helados km Peñas Negras 14 Sendero Resources Development Los Helados Exploration NGEx Minerals km 1k m 28 Lunahua
Slide 9: Peñas Negras Panoramic View
Peñas Negras Panoramic View Tamberías Cerro Verde Sur Ritsuko Cerro Verde Sur Lunahuasi (Dome) Josemaría La Ollita Camp Punta Negra 9 | Technical Presentation | senderoresources.com
Slide 10: Peñas Negras Key Takeaways
Peñas Negras Key Takeaways Vicuña Cu-Au deposits occur along crustal north-vergent Peñas Negras structural corridors of Frontal Cordillera. Reactivated ~20 million years ago, these structures created Buenos Aires Los Helados Peñas Negras favorable conditions for Miocene dioritic intrusions. Oblique
Slide 11: Central Vicuña District
Central Vicuña District Tracks and roads Peñasegras Sendero Land Position ● 120 km² of claims within the highly EMSE Land Position Unconsolidated sediments (Pi-H) prospective area Consolidated sediments (N1-2) Volcanics and volcaniclastics (Pg-N1) La Peña ● Excellent access and logistics off the Lav
Slide 12: Historical Exploration Data
Historical Exploration Data 725 soil samples (Cerro Verde S, Ollita, Tamberías). El Dorado Gold ✓ ✓ 8,674 m of trenching, 2,542 samples (Cerro Verde S, Ollita, Tamberías, Ritsuko, Peña) Systematically (1995-1998) ✓ 10,115 m of RC drilling at La Ollita, 7,003 samples collected and assayed Pursued ✓ 2
Slide 13: Information generated by Sendero Resources (2021-2023)
Information generated by Sendero Resources (2021-2023) Cerro Verde Cerro Verde Data Type Description Quantity La Pena Tamberias La Ollita Ritsuko Sur Norte Rock samples Logs and geochem assays 224 samples 64 80 31 29 17 - Composite samples (100m Talus fine samples 465 samples 59 112 43 87 86 78 apart
Slide 14: The Vicuña Copper-Gold Belt
Felsic volcanics (N) The Vicuña Copper-Gold Belt Volcaniclastics (P) Intermediate volcanics (CZ) Undifferentiated volcanics (K) Volcaniclastics (MZ-CZ) Peñasegras Felsic basement (P-T) Neogene phreatomagmatic volcanism developed along Andean-transverse faults (e.g. the Copiapó ATF), and subsidiary NE
Slide 15: Conceptual Model
Conceptual Model El Indio Vicuña Maricunga Peñas Negras (intermediate (thicker crust) thickness crust) Cu-Au HS Epithermal porphyry Buenos Aires Cu-Mo HS Epithermal (23-15 Ma) (12-8 Ma) (15-12 Ma) porphyry (11-5 Ma) ARGENTINA a) as M ía r 24 ar Ne g S ilo ( 15 - Jo sem ña s N F Pe Veladero Vacas Hel
Slide 16: Peñas Negras Project Geology
Lithology 01. Q - Alluvium, colluvium Peña Peñas Negras Project 02. N2 - Andesite (Veladero) 03. N1b-c - Dacite volcaniclastics (Vacas Heladas) Geology Cerro Verde N 03. N1b-c - Diorite (Vacas Heladas) 04. N1b-c Breccia phreatomag (Vacas Heladas) Peñasegras 05. N1b - Dacite porphyry (Escabroso) Peña
Slide 17: District Structural Framework
Peñas Negras Project District Structural Framework ● Filo, Josemaria, and Penas Negras at the same scale ● The N-vergent reverse faults reactivate in the Late Oligocene ● Miocene intermediate intrusions enter the NE-verging pathways Alluvium, colluvium (Miocene-Quaternary) Volcanics and sediments (T
Slide 18: Historic Drilling
Peñas Negras Project Historic Drilling ● 9,645 m - RC drilling by Eldorado ● 1,902 m - Core drilling by Eldorado ● 422 m - RC drilling by Minera Solitario ● 1,742 m - Core drilling by Anglo American LA OLLITA ● 3,128 m - Core drilling by Sendero Resources 2.5 x 1.5 km AOI Drilling tested geochemical
Slide 19: La Ollita Drill Highlights
La Ollita Drill Highlights LEGEND Sendero hole Eldorado holes 19 | Technical Presentation
Slide 20: Historic Drill Highlights
Historic Drill Highlights Hole Id From, m To, m Interval, m Au, ppm Cu, ppm CEV11DDH003 138 150 12 0.09 2037.00 CEV11DDH003 496 500 4 0.01 9355.00 PND-01 164.25 195.55 31.3 0.42 366.01 incl 167.35 169 1.65 4.47 230.00 PND-02 54.6 89.05 34.45 0.69 1367.95 PNR-03 34 100 66 0.87 1190.67 incl 52 86 34 1
Slide 21: Geophysics and Alteration
Peñas Negras Project Geophysics and Alteration Peñasegras Peñasegras Interpreting ASTER data at Peñas Negras helps identify structural features under extensive glacial moraine and colluvial cover ● Quartz and silica alteration responses ARGENTINA ● Carbonate alteration response helps identify Quartz
Slide 22: Geochemistry
Peñas Negras Project Geochemistry RGB Representation of Cu, Mo, and Au in geochemical rock samples Au, Cu, Mo, Ag anomalies in geochemical soil samples 22 | Technical Presentation | senderoresources.com
Slide 23: Peñas Negras Project Cross Sections
Lithology 01. Q - Alluvium, colluvium Peñas Negras Project 02. N2 - Andesite (Veladero) 03. N1b-c - Dacite volcaniclastics (Vacas Heladas) 03. N1b-c - Diorite (Vacas Heladas) lt 04. N1b-c Breccia phreatomag (Vacas Heladas) au 05. N1b - Dacite porphyry (Escabroso) sF 06. N1a-b - Andesite volcaniclast
Slide 24: Exploration Proposal Q1 2026
Peñas Negras Project Exploration Proposal Q1 2026 Peñasegras ● Phase 1 Drill Program: 8 drill holes totaling 3,600 m ( $CA 5 million)- Testing the ENE-trending ● Phase 2 Drill Program: 10 diamond drill holes totaling 7,500 m ($CA 10 million) - Step out and infill drilling ARGENTINA 24 | Technical Pre
Slide 25: Sendero Peer Comparables - Undervalued Poised to Re-rate
Sendero Peer Comparables - Undervalued Poised to Re-rate Juniors in the Vicuña 500 450 400 350 CAD Millions 300 250 200 150 100 50 0 Aldebaran Andina Mogotes Minsud Astra Mirasol Latin Metals Gold Hart Sendero Resources Copper Metals Resources Exploration Inc. Resources Inc. (TSXV: Copper Resources
Slide 26: Top drill intercepts of Vicuña juniors
Top 20 drill intercepts By rock value, of Vicuña juniors <$100M Market Caps PNDH-03 $4,671 PNDH-04 $4,406 Top 20 drill intercepts, PNDH-06 $3,788 by rock value, DDHTOL02 $3,595 PNDH-03 $2,670 of Vicuña Juniors FS_DDH_001 $2,178 <$100M MarketCarps DDHTOL02 $2,037 FS_DDH_002 $1,794 Intercept (HoleID)
Slide 27: Capital Structure
Summary Details Shares Outstanding 19,685,443 Warrants 14,231,557 Options 1,410,000 Market Capitalization 03/10/25 @99c $19.5M CAD Capital Structure Long Term Management and Shareholders Advisors 11% 12% Foundational Investing Group Key Backers Include: Retail 29% • Peter Marrone (Founder, Yamana Go
Slide 28: Peñas Negras Panoramic View
Peñas Negras Panoramic View Ritsuko Los Helados Cerro Verde Lunahuasi Cerro Verde Sur Norte Tamberías Josemaría La Peña La Ollita Punta Negra 28 | Technical Presentation | senderoresources.com
Slide 29: Contact Us
CONTACT US info@senderoresources.com Senderoresources.com TSXV: SEND
Slide 30: Appendix
Appendix APPENDIX TSXV: SEND 30 | Technical Presentation | senderoresources.com
Slide 31: Key Personnel
Alex Gostevskikh, QP MMSA Dave Cross CEO & Director CFO Over 40 years of experience in international mining CPA with over 30 years of experience specializing in and exploration, specializing in mineral exploration and accounting and management services to publicly development of orogenic gold style
Slide 32: Extensive Database
Extensive Database In addition to several airborne geophysics programs, the project area has been trenched and drilled. A comprehensive compilation of geophysical, super-spectral, and geochemical data is being completed with a view to produce a camp-scale integrated geological model with prioritized