Mr. Vincent Chen reports

HALCONES PRECIOUS METALS ANNOUNCES EXTENSION OF POLARIS PROJECT OPTION COMMITMENT

Minera Los Halcones SpA, Halcones Precious Metals Corp.'s wholly owned subsidiary, has amended its binding Contrato de Opcion Unilateral de Compra de Concesiones Mineras dated Oct. 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 metres of drilling on or before April 30, 2027, which constitutes a six-month extension from the previous deadline of Oct. 30, 2026. As consideration for the drilling extension, Minera Halcones has paid Austral $50,000 (U.S.) in cash. All other terms of the Polaris option agreement remain the same. Please see Halcones's press releases dated Oct. 28, 2024, and Jan. 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 company initiated legal proceedings in Oct. 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 Sept. 1, 2026, and Vern Arseneau will replace Mr. Parkinson as interim chief executive officer. Mr. Parkinson will continue to support Halcones as an adviser.

Halcones expresses its sincere appreciation for the efforts, leadership and contributions of Mr. 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.

We seek Safe Harbor.