Mr. David Ryan reports

GLENSTAR SHEAR-WAVE SEISMIC SURVEY IDENTIFIES LOW-VELOCITY ANOMALIES CORRELATING WITH GREEN MONSTER DISCOVERY ZONE

Glenstar Minerals Inc., further to the recent news release dated July 8, 2026, has received the final report from the Terean shear-wave seismic geophysical survey at its geologically complex Green Monster project in Clark county, Nevada.

The primary objective of the survey was to investigate a void that was encountered in discovery drill hole GMST-4, assess its relationship to a suspected structural or fault-controlled zone of weakness, and determine whether the associated fractured or weakened rock could be identified in the shear-wave velocity structure and traced laterally away from the borehole.

Assay results from previous drilling conducted in May, 2025, showed that Green Monster contained a zone of high-grade more than 30 per cent zinc along with 5.7 ounces per ton (oz/t) silver, 0.0523 per cent nickel, 0.0019 per cent cobalt and more than 0.36 per cent copper. Mineralization was intersected at depths from approximately 131 metres (approximately 430 feet) to approximately 142 metres (approximately 465 feet) and occurs in the hangingwall of the larger district-scale Green Monster fault zone. This zone of robust polymetallic mineralization was discovered at hole GMST-4, which was drilled to test a magnetic high that was identified during previous exploration field sampling work (see news releases dated Feb. 10, 2026, and June 17, 2026).

This area was considered to be the discovery zone and laid the foundation for further examination through the use of the Terean survey.

Four deep survey lines across the Green Monster project area measuring 150 by 300 metres (m) provided continuous imaging to depths exceeding approximately 600 feet, with the sections identifying laterally persistent mechanical units, abrupt velocity discontinuities, structural offsets and localized low-velocity zones, interpreted to reflect variations in rock competence, fracturing, alteration, dissolution and lithology.

The results of the seismic survey are generally consistent with the lithostratigraphy encountered during the phase 2 drill program and identify low-velocity features that the company interprets as prospective structural targets for follow-up drilling (see news release dated April 17, 2026).

According to project geologist Bob Marvin: "The mapped data from the completed hybrid seismic survey on the property have clearly identified extension targets within a 150 by 300 m area. The targets are distinct low seismic velocity zones which correspond in detail with the decalcified and strongly mineralized zone found in discovery hole GMST-4."

Mr. Marvin went on to conclude: "The survey also shows an anomaly at the known mineralized zone and that this anomaly extends from line to line over the area of the survey. Next-stage drill targets are being selected as a result of the information gathered from this seismic survey that appear to correlate very closely with the results of the previous drilling."

Numerous polymetallic zones were encountered during the phase 2 program, which consisted of six holes drilled to depths from 152 m (500 feet) to 178 m (585 feet), for approximately 1,012 m (3,320 feet) of total drilling from three drill pads. The drill holes encountered highly fractured rock with abundant clay alteration and brightly coloured orange and red oxide minerals and decalcification. Assay results confirmed that the area surrounding discovery drill hole GMST-4 is mineralized and geologically complex, prompting the company to conduct the Terean seismic survey in order to gain a more complete understanding of fracturing, alteration and lithology, and to further evaluate the structural interpretations derived from the phase 2 drill program.

Project background

The Green Monster property comprises 35 federal lode claims covering approximately 700 acres, located in Clark county, Nevada, on the west-trending spur of the Spring Mountains, and is approximately 40 miles southwest of Las Vegas. Until the recent drill programs conducted in May, 2025, and February, 2026, no drilling was ever conducted on the property. The company's previous identification of robust nickel-copper with anomalous cobalt from sampling work done in 2022 indicated that several targets were ideal for shallow RC (reverse circulation) drilling (see news releases dated May 28, 2025, and July 16, 2025).

Glenstar acquired the Green Monster property and conducted initial groundwork in 2022 that included reconnaissance geologic mapping, surface rock sampling, soil sampling and a drone magnetic survey. Channel sampling across the exposed back of a raise off the main shaft returned 1.18 m of 3.77 per cent Cu (copper), 3.06 per cent Ni (nickel), 0.21 per cent Co (cobalt) and 6.83 per cent Zn (zinc). These values are well in excess of select dump samples from historical underground workings and represent in-place, vein-style mineralization. Sampling of oxide- and sulphide-bearing boulders directly downhill of the patented workings has confirmed the presence of very high zinc (more than 10 per cent) and silver (more than 200 parts per million (ppm)), as well as copper, uranium and lead (sampling results provided above were previously published in the Green Monster project National Instrument 43-101 technical report dated June 20, 2023, Section 7.5).

About Glenstar Minerals Inc.

Glenstar is a mineral exploration company with a focus on polymetallic minerals. These elements are classified as critical minerals and are essential in the manufacturing of sophisticated electronics and other vital energy technologies. The company's mission is to leverage its knowledge and connections to explore, acquire and develop critical mineral and energy metal properties throughout the world.

Glenstar's shares trade on the Canadian Securities Exchange under the symbol GSTR, on the Frankfurt Stock Exchange under the symbol VO20 and on the over-the-counter market (OTCQB) in the United States under the symbol GSTRF.

Quality assurance/quality control and data verification

The Terean shear-wave seismic survey was conducted by Terean, of Reno, Nev. Survey data were subject to field quality control procedures and subsequent processing and interpretation by Terean. Robert Marvin, PGeo, a qualified person as defined by NI 43-101, has reviewed the survey methodology, processed data and interpretations underlying the technical information contained in this news release, and considers the data adequate for the purposes of this disclosure.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Robert Marvin, PGeo (Ontario), an independent consulting geologist to the company and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Marvin has reviewed the survey methodology, processed geophysical data, drill logs and other technical information underlying the interpretations presented in this news release, and has verified the data to the extent considered appropriate for the purposes of this disclosure.

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