Tesoro Minerals Corp.

September 04, 2013 19:33 ET

Tesoro Minerals Corp. Announces Shares for Debt Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 4, 2013) - Tesoro Minerals Corp. (the "Company") (TSX VENTURE:TES) announces that it has entered into a debt settlement agreement ("Agreement") with a creditor of the Company pursuant to which the Company agreed to issue 38,333 common shares ("Shares") at a deemed price of $0.30 per Share. The amount of indebtedness settled by the Agreement is $11,500, which represents an outstanding amount under a loan advanced by the creditor to the Company. The Company chose to settle this outstanding indebtedness with Shares as part of its plans to move the Company forward and in order to preserve its potential funds for operations.

The issuance of shares is subject to the approval of the TSX Venture Exchange (the "Exchange"). The Company will issue the Shares once the issuance has been approved by the Exchange.

About Tesoro Minerals Corp.

Tesoro Minerals Corp. is a mineral exploration company with major land positions in three of Colombia's most prolific gold regions including Antioquia, Tolima-Quindio, and Santander-Norte de Santander. AuRo shares trade on the TSX Venture Exchange under the symbol TES.

On Behalf of Tesoro Minerals Corp.

Peter Tegart, President and CEO

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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