Halcones Precious Metals Corp. announced assay results from the initial 2022 exploration program at its Carachapampa project, Chile. Field mapping and rock sampling were carried out in September, towards the end of the South American winter and crews were successful in identifying well mineralized zones in outcrop at several locations on the Project.

The Carachapampa Project is located in the north-central part of the famous Maricunga Belt in Chile, approximately 180 km northeast of the city of Copiapo (Figure 1). The property is immediately adjacent to the past producing Nueva Esperanza Au-Ag mine and north of Kinross Gold's La Coipa operations. Sampling is conducted in a manner that will allow reasonable averaging and statistical analysis of the data for resource estimation.

Standards, blanks and duplicate samples, are used to maintain quality control and to verify laboratory procedures. The company has established a QA/QC sampling control protocol which it applies to all rock sampling, including chip channels from trenches, surface grab samples and diamond drilling. Following is a summary of these protocols:Samples are collected using a standard 0.5 m to 1 m sample length in the main mineralized zones and a 1 m to 2 m length in the surrounding rocks or in other minor intervals of alteration and/or mineralization.

Shorter sample lengths were avoided whenever was possible. Core samples are split along the core axis using an electric rock saw, by the Company's trained technicians, prior to sampling the core is logged and a high-resolution photographic record is taken for the files. One standard sample is inserted for each 20 core samples and one coarse blank, one fine blank and one internal duplicate sample are included each 50 core samples for QA/QC control.

In order to meet NI 43-101 security standards, the samples are placed in rice bags and sealed with numbered security tags on site and then shipped to the laboratory facilities by truck by Company personnel. The custody and transfer of samples is always the responsibility of Company personnel. Channel trench samples are collected using a standard 0.5 m to 1 m sample length in the main mineralized zones and a 1 m to 2 m length in the surrounding rocks or in other minor intervals of alteration and/or mineralization.

Shorter sample lengths are avoided whenever was possible. Field mapping samples are also collected using a standard 0.5 m to 1 m sample length in mineralized zones when possible, depending on the outcrop availability. One standard sample is inserted for each 20 core samples and one coarse blank, one fine blank and one internal duplicate sample are included each 50 samples for QA/QC control.

In order to meet NI 43-101 security standards, the samples are placed in rice bags and sealed with numbered security tags on site and then shipped to the laboratory facilities by truck by Company personnel. The custody and transfer of samples is always the responsibility of Company personnel.