Tesoro Minerals Corp.

October 16, 2013 13:11 ET

Tesoro Minerals Corp. Announces Shares for Debt Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 16, 2013) - Tesoro Minerals Corp. (the "Company") (TSX VENTURE:TES) announces the completion of the shares for debt transactions originally announced on July 26, 2013 and September 4, 2013. The issuances have received approval from the TSX Venture Exchange.

On October 4, 2013 the Company issued an aggregate of 749,863 common shares ("Shares") at a deemed price of $0.30 per Share to settle an aggregate debt of $224,959. The aggregate debt represents outstanding amounts for services provided by certain creditors to the Company as well an outstanding amount under a loan advanced by a 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.

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. Tesoro 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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