Glenstar plans phase 2 drilling at Green Monster

Executive Summary

• Glenstar Minerals Inc. provided a comprehensive update on its Green Monster and Wildhorse projects in Nevada, highlighting significant assay results from recent drilling and exploration activities.
• The company closed a private placement of 5,122,235 units for total gross proceeds of approximately $3.48 million, following an amendment to increase the offering size.
• Operational updates include the initiation of Phase 2 drilling planning at Green Monster based on new polymetallic mineralization discoveries and ongoing exploration work at the Wildhorse project.

Key Details

• Green Monster Project Drilling Results:
  • Phase 1 drilling in May 2025 identified a new zone of polymetallic mineralization.
  • High-grade zinc occurrence reported at >30%.
  • Significant assay results include up to 177 ppm silver (5.7 oz/t), 523 ppm nickel (0.0523%), 91.9 ppm cobalt (0.0019%), and >0.36% copper.
  • Phase 2 exploration focus has shifted to this new zone.
  • Current status: Awaiting assays for platinum, palladium, and rare earth elements.
  • Future plans: Target up to eight holes totaling 2,000 feet to further define the discovery in hole GMST-4.
• Wildhorse Project Exploration Results:
  • Land position increased to 61 claims (1,220 acres) in Mineral County, Nevada.
  • Phase 1 rock chip sampling at the "Coca Cola" zone returned copper values of 1.6%, 5.3%, 2.3%, and 5.1%, with an average of 21.6 ppm silver.
  • September 2025 field exploration results returned 11.2 g/t gold (0.36 oz/t), 11.35 g/t silver (0.37 oz/t), multi-percent copper, and strong tungsten-bismuth anomalies in four distinct stream drainages.
  • Next steps: Staking 30 additional claims southwest/south/southeast; retaining Quantec Geoscience for a drone mag survey; submitted permit application for trenching at the Coca Cola zone.
• Financing Activity:
  • Closed private placement of 5,122,235 units (including agent's overallotment of 622,235 units).
  • Total gross proceeds: $3,483,119.80.
  • Original agreement was for up to 2.95 million units at 68 cents; amended to raise up to $3,060,000 via 4.5 million units before closing.
• Corporate Developments:
  • Name changed from Glenstar Ventures Inc. to Glenstar Minerals Inc., effective April 7, 2025.
  • Shares approved for trading on OTCQB (GSTRF) as of March 6, 2025.
  • Listed on Tradegate Exchange (Berlin) in July 2025.
  • Engaged Altura Media Co. Inc. for marketing and investor awareness services; agreement amended to extend services for $250,000.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.