Halcones submits documents for Polaris surface access

Mr. Ian Parkinson reports HALCONES PRECIOUS METALS ANNOUNCES COMMENCEMENT OF LEGAL PROCESS TO SECURE SURFACE ACCESS TO POLARIS PROJECT, CHILE Halcones Precious Metals Corp. has submitted the required documentation to the civil court of Taltal, Chile, to initiate the well-established process available to mining companies in Chile to be granted the required surface access to diamond drill the Polaris project. The company has diligently attempted to negotiate a surface access agreement with the surface rights holders for approximately nine months without success. Under Chilean law, similar to many jurisdictions including Canada, mineral rights that 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. The process in Chile generally takes several months but temporary access may be granted in as little as one month for certain activities. Jaime de Orbegoso, Halcones's external Chilean legal counsel, stated: "On Oct. 23, 2025, Minera Los Halcones Chile executed an amendment to the option agreement for the purpose of extending the term to comply with the work commitment on the properties until Oct. 23, 2026. In line with the foregoing and as a result of not having reached an agreement with the surface landowner, the company's board of directors has resolved to initiate the legal process before the courts of justice of Chile to obtain the necessary easements to carry out the planned exploration work. The Chilean law guarantees the titleholder of mining concessions to exercise its rights over and above the rights of the landowner, who is entitled to compensation for the damages caused in the use of the surface." Halcones has also entered into an amendment to its option agreement with Austral Exploraciones SpA, the optionor of the Polaris project, to: (i) extend the deadline to complete 2,000 metres of drilling on the project until Oct. 23, 2026; and (ii) extend the deadline to complete a National Instrument 43-101-compliant mineral resource estimate on the project until Oct. 23, 2028. Please see the company's Oct. 28, 2024, press release for further details regarding the project. About Polaris Polaris is a large, highly prospective gold project in the mining-friendly jurisdiction of northern Chile. Polaris and immediate area were exploited by artisanal miners at a small scale (17 known small-scale mines) in the 1920s and 1930s. The project area has not been explored in a modern context. Only basic mapping and sampling of the project have been performed with no known diamond drilling. Through recent mapping and sampling, extensive gold mineralization has been identified in surface bedrock over a 3.9-kilometre strike length on the property to date. Of particular interest for the first phase of drilling is the North zone gold anomaly. Sampling programs completed over multiple campaigns have demonstrated an anomalous gold footprint approximately 500 metres by 500 metres with bedrock surface samples of up to 55 grams per tonne gold. Polaris highlights: Select assays results include 29.04, 20.05, 13.08 and 10.67 grams per tonne gold. The project has returned 30 outcrop samples above 10 g/t Au, 35 bedrock samples between five and 10 g/t Au, and 104 samples between one and five g/t Au. The sampling program prioritized sampling of stockwork. Gold-bearing stockwork at surface has been sampled over approximately a 500-metre-by-500-metre area and the limits of this mineralized zone are not yet known (see press releases from Feb. 5 and Feb. 12, 2025, for complete details). High-grade mineralization continues to exhibit a strong structural control. Halcones management believes there is potential for a larger-tonnage surface deposit of vein- and stockwork-hosted mineralization hosted by the highly fractured rocks associated with fault splays associated with the continental-scale Atacama fault system in the area. Ian Parkinson, chief executive officer and director of Halcones, stated: "Polaris is an exciting project that requires diamond drilling. The surface signature is compelling. Demonstrating the depth continuation of what has been outlined on surface is the next logical step for Halcones and Polaris." Quality assurance/quality control Using a hammer and a rock chisel, a chip sample is carried out uniformly over at least one-metre sections, ensuring complete collection and homogeneity in order to achieve proper representation of the sample. The sample is collected perpendicular to the dominant strike of the structures and the sample mass must be a minimum of two kilograms. In the event that the outcrop presents some mineralized structure, an independent sample will be taken only from the mineralized structure and an independent sample from the host rock on both sides of the structure. This process is designed to limit bias due to high-grading sample collection. All samples were bagged and sealed on site and delivered directly by the project geologist to Andes Analytical Assay's laboratory in Copiapo, Chile. After sample preparation at Andes Analytical Assay's laboratory in Copiapo, split pulp samples were shipped to Andes Analytical Assay in Santiago, Chile, for assaying gold by fire assay (AEF_AAS_1E42-FF) and for analyzing 34 other elements, including silver, by four acids (ICP_AES_AR34m1). Andes Analytical Assay is an independent laboratory certified with a global quality management system that meets all requirements of international standards ISO/IEC 17025:2017 and includes its own internal quality control samples comprising certified reference materials, blanks and pulp duplicates. Qualified person The scientific and technical information in this news release has been reviewed and approved by David Gower, PGeo, as defined by NI 43-101 of the Canadian Securities Administrators. Mr. Gower is a consultant of the company and is not considered independent of Halcones. 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. We seek Safe Harbor.