Mr. Vern Arseneault reports

HALCONES PRECIOUS METALS ANNOUNCES AGM RESULTS AND CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

Halcones Precious Metals Corp. has released the results of its annual general and special meeting of shareholders held on Oct. 14, 2026, and closed the first tranche of its previously announced non-brokered private placement of units.

AGSM results

A total of 35,578,287 common shares of the company, representing approximately 13.40 per cent of the 265,459,720 common shares issued and outstanding as of the record date for the meeting, were represented in person or by proxy at the meeting.

Shareholders fixed the number of directors at three and elected each of the nominees listed in the company's management information circular dated Aug. 31, 2026, with each nominee receiving more than 98 per cent of the votes cast.

Shareholders also approved the appointment of McGovern Hurley LLP as auditor of the company for the ensuing year and authorized the directors to fix its remuneration and approved the company's stock option plan, each as more particularly described in the circular.

Halcones management would like to thank shareholders for their participation and continuing support.

Closing of first tranche of private placement

The company has closed the first tranche of the offering, issuing 11 million units of the company at a price of five cents per unit for gross proceeds of $550,000. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share at an exercise price of five cents for a period of 24 months from the date of issuance.

In connection with the first tranche, the company paid cash finders' fees of $33,000 and issued 660,000 non-transferable finder warrants. Each finder warrant entitles the holder to acquire one share at an exercise price of five cents for a period of 24 months from the date of issuance.

As disclosed in the company's news release dated Oct. 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. The company expects to close the final tranche of the offering next week.

All securities issued in connection with the first tranche are subject to a statutory hold period of four months and one day expiring on Feb. 16, 2027. The offering remains subject to the final approval of the TSX Venture Exchange. No insiders of the company participated in the first tranche.

About Halcones Precious Metals Corp.

Halcones Precious Metals is focused on exploring for and developing gold-silver projects in the Maricunga belt in Chile, the premier gold mining district in South America. The company has a team with a strong background of exploration success in the region.

We seek Safe Harbor.