Halcones Precious Metals Corp. provided results from the exploration program at the Carachapampa project (Carachapampa or the Project). Carachapampa is located in the mineral Maricunga belt approximately 180 km northeast of the city of Copiapo with year-round road access.

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. 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. 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.

A complete summary of drill data is included in Table 1. 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.