Halcones Precious Metals Announces Extension of Polaris Project Option Commitment
HALCONES PRECIOUS METALS ANNOUNCES EXTENSION OF POLARIS PROJECT OPTION
COMMITMENT
Toronto, Ontario, August 2 5, 2026 – Halcones Precious Metals Corp. (TSXV: HPM) (the “Company” or
“Halcones”) announces that Minera Los Halcones SpA (“ Minera Halcones ”), Halcones’ wholly -owned
subsidiary, has amended its binding Contrato de Opcion Unilateral de Compra de Concesiones Mineras dated
October 25, 2024 between Minera Halcones and Austral Exploraciones SpA (the “ Polaris Option
Agreement”). Pursuant to the Polaris Option Agreement a mendment, Minera Halcones is required to
complete 2,000 meters of drilling on or before April 30, 2027 which constitutes a six (6) month extension
from the previous deadline of October 30, 2026 (the “ Drilling Extension”). As consideration for the Drilling
Extension, Minera Halcones has paid Austral USD$50,000 in cash. All other terms of the Polaris Option
Agreement remain the same. Please see Halcones’ press releases dated October 28, 2024 and January 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 “Court”). The Company initiated legal
proceedings in October 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
September 1, 2026 and Vern Arseneau will replace Mr. Parkinson as Interim Chief Executive Officer. Mr.
Parkinson will continue to support Halcones as an advisor.
Halcones expresses its sincere appreciation for the efforts, leadership and contributions of Ian 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.
For further information, please contact:
Vincent Chen, CPA
Investor Relations
www.halconespreciousmetals.com
647-276-0540
Cautionary Note Regarding Forward-looking Information
This press release contains “ forward-looking information ” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, without limitation, amendments to the Polaris
Option Agreement, surface rights access to the Polaris project, a ruling by the Court, the changes to the
Halcones management team and board of directors and the impacts thereof and the Company’s future plans.
Generally, forward-looking information can be identified by the use of forward -looking terminology such as
“plans”, “expects” or “does not expect ”, “is expected ”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or
state that certain actions, events or results “ may”, “could”, “would”, “might” or “will be taken”, “occur” or
“be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Halcones, as the
case may be, to be materially different from those expressed or implied by such forward-looking information,
including but not limited to: general business, economic, competitive, geopolitical and social uncertainties;
the actual results of curren t exploration activities; risks associated with operation in foreign jurisdictions;
ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent
in the mining industry. Although Halcones has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward -looking
information. Halcones does not undertake to update any forward-looking information, except in accordance
with applicable securities laws.
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THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY
OF THIS RELEASE.