Mr. Vincent Chen reports

HALCONES PRECIOUS METALS PROVIDES UPDATE ON SURFACE RIGHTS ACCESS FOR THE POLARIS PROJECT

Further to Halcones Precious Metals Corp.'s press release dated Oct. 20, 2025, announces that Minera Los Halcones SpA, Halcones's wholly owned subsidiary, has been advised that the independent court-appointed expert has submitted her compensation valuation report to the Civil Court of Taltal, Chile, in connection with the application before the court to obtain surface rights access to the Polaris project.

Halcones, representing Austral Exploraciones SpA, the owner of the Polaris mining concessions that have been optioned by the company pursuant to a binding option agreement with Austral, continues to pursue obtaining an easement for surface access to diamond drill the project through the Chilean legal system before the court. The legal proceedings were initiated on Oct. 30, 2025, and over the last few months all the court's requests for additional information have been satisfied. The court has been asked to rule on the surface access easement. Under Chilean law, similar to many jurisdictions including Canada, mineral rights, which are owned by the state, have preference 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. The company continues to seek a negotiated agreement with the surface rights holders while the legal process proceeds but intends to pursue all legal avenues to obtain Polaris surface access as soon as possible.

With the submission of the expert report, the evidentiary stage of the proceeding is now substantially complete and the matter is moving toward resolution by the court. The expert's mandate was to quantify the compensation payable, and the report sets out the amounts of compensation payable to the surface rights owners.

Although there is no set timeline for a decision by the court, the fact that there is now no other pending procedures necessary is a positive sign and the company looks forward to a decision from the court shortly.

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.

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