HPM Halcones Precious Metals Corp

Halcones Precious Metals Corp. (TSX – V: HPM) (the “Company” or “Halcones”) is pleased to provide results from the exploration program at the Carachapampa project (“Carachapampa” or the “Project”). Carachapampa is located in the prolific Maricunga belt approximately 180 km northeast of the city of Copiapo with year-round road access (Figure 1).

Drilling Highlights

Hole CAR23-008 returned 1.09 g/t Au and 17.35 g/t Ag over 11 m from 81 m down hole at the Central Target including 1.53 g/t Au and 27.82 g/t Ag over 6 m.

Hole CAR23-012 returned 2.75 g/t Au and 20.94 g/t Ag over 10 m from 79 m down hole at the Northwest Target. This is part of a broader mineralized interval of 1.3 g/t Au and 11.73 g/t Ag over 24 m from 73 m downhole.

According to Ian Parkinson, CEO and Director of Halcones, “These results are very encouraging, coming from a limited diamond drill campaign testing extensive targets. The program demonstrates that mineralizing systems have deposited significant gold within the property. These results provide a strong base from which to evaluate controls of mineralization on these previously unidentified targets and warrant persisting with further work. The alteration and mineralization observed in these drill holes, with silicification and development of vuggy quartz textures is precisely analogous to producing mines in the area.”

Halcones drilled 7 holes totaling 1,524 m, drill testing the depth extent of surface sample results announced in November 2022 (see press release dated November 23, 2022). Three of the seven holes returned mineralized intervals greater than 1 g/t over significant widths. Drilling was focused on shallow, near surface targets less than 75 m from surface (Figure 2 and 3). A complete summary of drill data is included in Table 1.

Next Steps

Assays have now been received from all seven holes. The Halcones exploration team is analysing these results before planning next steps for the Carachapampa project.

Table 1: Assay summary

Figure 1: Carachapampa project location

Figure 2: Property map showing drill hole locations

Figure 3: Cross sections for holes CAR-23-08 and CAR-23-12

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators.

About Halcones Precious Metals Corp.

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

For further information, please contact:

Vincent Chen Investor Relations vincent.chen@halconespm.com www.halconespreciousmetals.com

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, regarding the prospectivity of the Project, the mineralization of the Project, the Company’s exploration program, the Company’s ability to explore and develop the Project 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 current 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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