Mr. David Ryan reports

GLENSTAR MINERALS PROVIDES COMPREHENSIVE GREEN MONSTER PROJECT UPDATE FOLLOWING DISCOVERY OF HIGH-GRADE POLYMETALLIC MINERALIZATION IN NEVADA

Glenstar Minerals Inc. has had a very productive year since it began the phase 1 drill program at its Green Monster project, located in Clark county, Nevada, in May of 2025.

Since initiating drilling at the Green Monster in May, 2025, Glenstar has achieved several significant milestones that have advanced the project and enhanced the company's understanding of its mineral potential. Over the past year, Glenstar has confirmed significant polymetallic mineralization, has completed two drill programs, has expanded its geological knowledge through advanced geophysical surveys, and is currently evaluating next-generation exploration technologies to support future drilling and target development. These achievements build upon the company's previous corporate and project update issued on Sept. 11, 2025, and continue to move the Green Monster project forward in a positive and systematic manner.

"Over the past year, Green Monster has evolved from a compelling exploration target into a project with demonstrated high-grade polymetallic mineralization and multiple avenues for further advancement," stated David Ryan, president and chief executive officer of Glenstar Minerals. "While additional work is required to fully understand the geological controls on mineralization, the results to date continue to support our belief that Green Monster may host a robust mineralized system with significant exploration potential."

Phase 1 discovery confirms high-grade polymetallic mineralization

Following the initial reverse circulation phase 1 drill program that was conducted in May of 2025, assays showed that Green Monster contained a zone of high-grade greater than 30 per cent zinc along with 5.7 ounces per ton silver, 0.0523 per cent nickel, 0.0019 per cent cobalt and greater than 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. This area was considered to be the discovery zone.

The mineralization was intersected within a complex rock unit mostly composed of limestone, sandstone and shale, which is known to be disrupted by numerous thrust faults and is contained within a strongly decalcified section of the host rocks. The alteration appeared to consist of acid leaching of carbonate from the host limestone by hot water fluids, which permeated the host rock during mineralization. This represents a strong decalcification event in which carbonate was flushed from the host rock, resulting in high permeability of the zone. The permeable zone was then invaded by ore forming fluids travelling through the porous zone and resulting in the deposition of zinc, silver, copper and cobalt being flooded into the altered area during the main mineralization event.

This style of alteration and mineralization in carbonate host rocks is a significantly important type of ore formation and is seen as the primary mineralizing style for the large gold deposits of the Carlin trend in Nevada. Also of note is that the base metal intercept in GMST-4 contains highly anomalous gallium up to 50 grams per tonne, which is considered quite noteworthy given that the average worldwide production grade of gallium is approximately 50 g/t with most of the production coming from zinc-rich polymetallic deposits.

The company also applied to the Bureau of Land Management for a permit to conduct a second phase of drilling at Green Monster, which was granted in late November. The permit allowed Glenstar to drill nine holes over four locations on the property and was planned to be composed of approximately 300 metres (984 feet) of strike length drilling exploration. The company planned to collar two holes in the area of the primary drilling that was conducted on phase 1. Three holes were slated to focus on the area considered the discovery zone, where hole GMST-4 was drilled; and two holes each at two sites situated farther west along what was believed to be the mineralized east-west-trending belt.

In December of 2025, Glenstar contracted Alloy Drilling of Elko, Nev., to conduct the phase 2 reverse circulation drill program at Green Monster, which commenced Dec. 15 and continued into January and early February of 2026, allowing for a break over the Christmas holiday season.

Phase 2 drilling expands geological knowledge of Green Monster

The phase 2 drill program concluded in early February, and all the samples were sent to ALS Chemex in Vancouver, B.C., for assay analysis. Ultimately, six holes were drilled to various depths from 500 feet to 585 feet and angles from vertical to 65 degrees. A track-mounted reverse circulation drill was utilized for this second round of drilling, and preliminary observations by project geologist Bob Marvin in the field indicated that three of the six holes drilled contained highly fractured rock with abundant clay alteration and brightly coloured orange and red oxide minerals and decalcification. The six holes were collared at three drill pads, with three holes being drilled at the site of the discovery hole that was encountered in the phase 1 drill program. Two of these holes were considered to be of substantial interest while the third hole did not exhibit the same level of fracturing and alteration. One hole was collared approximately 90 metres to the southwest of the discovery hole, and the rock recovered from this hole also indicated substantial fracturing and alteration of the rock with abundant clay along with bright orange and red oxide minerals. This hole is also considered to be of significant interest; however, a visual inspection of the rock from two holes drilled at the original area of interest was considered to be unremarkable. The phase 2 drill program consisted of a total of approximately 3,320 feet.

Assay results from phase 2 were returned to the company in early April of 2026 and continued to show polymetallic mineralization along the trend line that was drilled in the phase 1 drill program. Numerous polymetallic zones were encountered during phase 2, and the assay results confirmed that the area of interest continues to be significantly mineralized and quite geologically complex. The grades reported were less than anticipated but continued to support the findings of the phase 1 drill program, while at the same time raising a number of interesting questions. As a result of this geological complexity, it was determined that further geophysical work is required to address the data that are currently inconclusive, but promising, and to provide a clearer understanding of the type of structure and system contained within the property.

Evaluating next-generation exploration technologies

To gain a more detailed understanding of Green Monster following the phase 2 program, the company continues to evaluate the various assay results and looks to introduce some of the latest available technological advancements in geophysical survey methodology. One such advancement under consideration is what is known as a Terean geophysical survey. This type of survey is regarded to be cost-effective and has been utilized in a variety of mineral exploration applications to assist in mapping faults and structural controls on mineralization. These include innovations in defining depth to competent rock, quantifying overburden, imaging paleochannels and alteration zones, and identifying weathered and fractured zones that could indicate the presence of large faults and their orientation. Glenstar management and geological team are currently evaluating the best use of the Terean technology at Green Monster and will be determining the next phase of exploration in the near future.

Company projects

The Green Monster property is composed of 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 program in May of 2025, no drilling had previously been conducted on the property, but the company's previous identification of robust nickel-copper with highly anomalous cobalt from sampling work done in 2022 indicated that several targets were ideal for shallow RC drilling.

The Wildhorse property is composed of 61 mineral claims, representing 1,220 acres (494 hectares) in Mineral county, Nevada, and was initially targeted after compilation of all available data, including notes of a 1975 field examination contained in the Anaconda Company archives housed at the University of Wyoming. The claims show historical workings that date from the late 1800s and early 1900s.

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 advanced electronics, energy storage systems and other critical technologies supporting the global energy transition. Glenstar's shares trade on the Canadian Securities Exchange, symbol GSTR, on the Frankfurt Stock Exchange, symbol VO20, and on the Over-the-Counter market (OTCQB) in the United States, symbol GSTRF.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Marvin, PGeo (Ontario), an independent consulting geologist to the company, a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

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