Halcones Precious Metals Announces Extension of Polaris Project Option Commitment

TORONTO, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Halcones Precious Metals Corp. (TSXV: HPM) (the “Company” or “Halcones”) announces that Minera Los Halcones SpA (“Minera Halcones”), Halcones’ wholly-owned subsidiary, has amended its binding Contrato de Opcion Unilateral de Compra de Concesiones Mineras dated October 25, 2024 between Minera Halcones and Austral Exploraciones SpA (the “Polaris Option Agreement”). Pursuant to the Polaris Option Agreement amendment, Minera Halcones is required to complete 2,000 meters of drilling on or before April 30, 2027 which constitutes a six (6) month extension from the previous deadline of October 30, 2026 (the “Drilling Extension”). As consideration for the Drilling Extension, Minera Halcones has paid Austral USD$50,000 in cash. All other terms of the Polaris Option Agreement remain the same. Please see Halcones’ press releases dated October 28, 2024 and January 30, 2025 for further details regarding the option to acquire the Polaris project.

Halcones continues to pursue obtaining an easement for surface access to diamond drill the Polaris project through the Chilean legal system in the civil court of Taltal, Chile (the “Court”). The Company initiated legal proceedings in October 30, 2025 and over the last few months has satisfied all of the Court’s requests for additional information. The Company has petitioned the Court to make a ruling on the surface access easement. Under Chilean law, similar to many jurisdictions including Canada, mineral rights which are owned by the state have precedence over surface rights and there is a well-established process that will be followed to achieve access and arrange compensation for the surface rights holder. While this is not the preferred route, given the stalemate in negotiations, the Company has taken the decision to pursue the Court process to establish the required access. The Company will continue to seek a negotiated agreement with the surface rights holders while the legal process proceeds.

Halcones also announces that Ian Parkinson has resigned as Chief Executive Officer of the Company effective September 1, 2026 and Vern Arseneau will replace Mr. Parkinson as Interim Chief Executive Officer. Mr. Parkinson will continue to support Halcones as an advisor.

Halcones expresses its sincere appreciation for the efforts, leadership and contributions of Ian Parkinson

About Halcones Precious Metals Corp.

Halcones is focused on exploring for and developing gold-silver projects in Chile. The Company has a team with a strong background of exploration success in the region.

For further information, please contact:

Vincent Chen, CPA
Investor Relations
Vincent.chen@halconespreciousmetals.com
www.halconespreciousmetals.com
647-276-0540

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, amendments to the Polaris Option Agreement, surface rights access to the Polaris project, a ruling by the Court, the changes to the Halcones management team and board of directors and the impacts thereof and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halcones, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Halcones has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Halcones does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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