Halcones Precious Metals Announces Closing of Final Tranche of Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Halcones Precious Metals Corp. (TSXV: HPM) (the “Company” or “Halcones”) is pleased to announce the closing of the second and final tranche (the “Second Tranche”) of its previously announced non-brokered private placement of units (the “Offering”). Closing of Final Tranche of Private Placement The Company has closed the Second Tranche of the Offering, issuing 9,000,000 units of the Company (the “Units”) at a price of $0.05 per Unit for gross proceeds of $450,000. Each Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Share at an exercise price of $0.05 for a period of 24 months from the date of issuance. Together with the first tranche of the Offering, which closed on October 15, 2026 (the “First Tranche”), the Company has issued an aggregate of 20,000,000 Units under the Offering for aggregate gross proceeds of $1,000,000. In connection with the Second Tranche, the Company paid cash finder’s fees of $6,300 and issued 126,000 non-transferable finder’s warrants (the “Finder Warrants”). Each Finder Warrant entitles the holder to acquire one Share at an exercise price of $0.05 for a period of 24 months from the date of issuance. In aggregate, the Company paid cash finder’s fees of $39,300 and issued 786,000 Finder Warrants in connection with the Offering. As disclosed in the Company’s news release dated October 8, 2026, the Company plans to use the aggregate net proceeds of the Offering to obtain the surface rights to the Polaris project, to continue exploration work on the Polaris project, and for general corporate working capital purposes. All securities issued in connection with the Second Tranche are subject to a statutory hold period of four months and one day expiring on March 4, 2027. The Offering remains subject to the final approval of the TSX Venture Exchange. Certain directors and officers of the Company (the “Insiders”) acquired an aggregate of 1,700,000 Units in the Second Tranche for gross proceeds of $85,000. The participation of the Insiders constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to the Insiders nor the consideration paid by the Insiders exceeds 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the closing of the Second Tranche, as the details of the Insiders’ participation were not settled until shortly before closing and the Company wished to complete the Offering in a timely manner. Write-off of Accrued Salaries and Fees The Company also announces that certain members of management, directors and consultants of the Company have agreed to write off an aggregate of approximately $1,434,860 of salaries, fees and other amounts owed to them by the Company. The write-off significantly reduces the Company’s liabilities and improves its working capital position. About Halcones Halcones Precious Metals Corp. is focused on exploring for and developing gold-silver projects in the Maricunga Belt, Chile, the premier gold mining district in South America. The Company has a team with a strong background of exploration success in the region. For further information, please contact: Vern Arseneault Chief Executive Officer Vincent Chen, CPA Investor Relations Tel: 647-276-0540 [email protected] www.halconespreciousmetals.com 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, statements regarding the Offering, the receipt of final approval of the TSX Venture Exchange, the intended use of proceeds of the Offering 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 to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the Company’s ability to obtain the requisite regulatory approvals for the Offering; general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; 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. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. NEITHER 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.