Vancouver, BC, CANADA: July 28, 2026 – Glenstar Minerals Inc. (CSE: GSTR, OTCQB: GSTRF, FRA: VO20) (“Glenstar” or the “Company“) is pleased to provide an update on the progress of exploration activities at its Wildhorse Project (“Wildhorse”), located in Mineral County, Nevada. Over the past year, the Company has completed multiple exploration programs that have expanded its geological understanding of the project and identified targets for continued exploration.
Glenstar initiated rock chip sampling and geological mapping of three zones of known outcropping mineralization at the Wildhorse Project in June 2025. Since then, the Company has achieved several significant milestones that have advanced the project and enhanced its understanding of the property’s mineral potential.
Since commencing work, Glenstar has confirmed polymetallic mineralization, completed a magnetic survey, conducted a trenching program and an initial Phase 1 drill program, and submitted 860 drill samples for assay analysis. These programs have significantly improved the Company’s understanding of the property’s geology and support future drill targeting and exploration planning. The work builds upon the Company’s previous corporate and project update issued on September 11, 2025, and continues to advance the Wildhorse Project in a systematic manner.
“Over the past year, Wildhorse has evolved from an interesting and compelling exploration target into a project that has returned high-grade surface sampling results and encouraging geological observations and multiple avenues for further advancement,” stated David Ryan, President and CEO 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 Wildhorse may host a mineralized system with significant exploration potential.”
Initial Exploration and Surface Sampling
Following the initial field exploration work that began in June of 2025 and completed in July, the Company reported initial rock chip sampling assay results that showed encouraging copper values along with silver and strong tungsten-bismuth anomalies. This led Glenstar to increase its land position to 61 claims representing 1,220 acres, from the original number of 45 claims covering approximately 900 acres.
Additional assays received on September 3, 2025, returned 11.2 g/t of gold, 11.35 g/t of silver and multi-percent copper up to 39%, which then prompted Glenstar to submit an application to the Bureau of Land Management (“BLM”) to conduct a trenching program to better expose the Coca Cola Zone. The initial trenching plan comprised three (3) parallel trenches, each measuring 15.2 metres (50 feet) in length, 1.5 metres (5 feet) in width and 0.9 metres (3 feet) in depth, with 6.1 metres (20 feet) of spacing between trenches. The BLM issued a permit for this trenching program in November of 2025, and the Company then further expanded its landholdings at Wildhorse by staking 28 more claims to the west, south, and southeast of the Coca Cola and Highland Zones. This increased the total land package to 89 claims representing 720 hectares (1,780 acres).
Trenching Program
Trenching at the Coca Cola Zone commenced in early February 2026 and was completed during the first week of March. The work defined the orientation of a metre-scale bedrock zone characterized by quartz veining and copper oxide and sulfide mineralization. This zone was traced for 15 metres (50 feet) of strike length along an east-west trend. Two trenches were completed that exposed four (4) bedrock exposure cuts, and fourteen (14) chip channel samples were collected; each sample measuring ~1.5 metres (4.9 feet) per sample of wallrock exposure. The two trenches were excavated to a wider width than originally planned in order to follow and expose more bedrock and follow the trending mineralization. As a result, there was no need to dig a third trench, which was deemed to be unnecessary given the expanded size of the two trenches.
Of significant note was that the trenching exposed a wider width of alteration than anticipated and the trend of mineralization continued throughout the exposed bedrock. The expanded size of the trenches also showed that what was originally thought to be a north-south trend of mineralization was intersected by the newly uncovered east-west trend of highly fractured and altered rock that appeared to continue beyond the trenches.
Outcropping anomalous copper and gold mineralization at the Coca Cola Zone, when considered together with the historical geological data collected to date, suggests the property may be underlain by a copper-gold porphyry system of unknown size. The magnetite, epidote and pyrite alteration encountered at the Coca Cola Zone is consistent with geological characteristics commonly associated with copper porphyry systems; however, additional exploration and analytical work will be required to confirm the nature, extent and significance of the mineralized system.
On March 17, 2026, Glenstar announced that it had submitted an application to the BLM to conduct a thirteen (13) hole reverse circulation drill program at Wildhorse. The drill plan consisted of six (6) holes at the Coca Cola Zone and seven (7) holes at the Rattlesnake Zone. The decision to drill followed the successful trenching at Coca Cola that resulted in defining the bedrock orientation of a metre-scale zone of quartz veining and copper oxide and sulfide mineralization.
The BLM approved the drill permit, which also provided for the construction of 670 metres (2,200 feet) of additional access road(s) to the drill sites to complement existing land access to the exploration areas and planned drill target sites.
Phase 1 Drill Program Confirms High-Grade Polymetallic Mineralization
The Phase 1 reverse circulation drill program Wildhorse began the last week of April at the Coca Cola Zone, and four (4) holes were completed in the target area. A number of narrow intervals of strong alteration with local copper oxide mineralization were encountered prior to the drill rig being moved to the Rattlesnake Zone, which lies approximately 488 metres (1,600 feet) northeast of the Coca Cola Zone.
Hole RTSRC-1 intersected several multi-metre-scale intervals of strong oxide alteration/mineralization from surface to 105 metres (345 feet). From 105 to 117 metres (345 to 385 feet) a partially oxidized zone of strong sulfide mineralization, quartz veinlets, and silicification was intersected. Sulfide minerals identified during geological logging include chalcopyrite and fine-grained silver-grey minerals. The mineralized interval exhibited a noticeable hydrogen sulfide odour. Sulfide abundance is estimated at 5%. Oxide minerals are present on fracture, and range in color from yellow to orange to bright blue.
Hole RTSRC-2 indicates multi-metre-scale gossanous orange and red zones are prevalent from surface to 66 metres (215 feet) down-hole (46 metres [150 feet] below surface). From 66 to 75 metres (215 to 245 feet), drilling returned a 9.1-metre (30-foot) interval of intense oxide mineralization with abundant quartz veinlets. Preliminary conclusions of the drilling at Rattlesnake indicated the successful intersection of the main Rattlesnake mineralized zone in a down-dip position located 98 metres (320 feet) east of outcropping mineralized positions.
Glenstar announced on May 13, 2026, that the Phase 1 reverse circulation drill program at Wildhorse had concluded, with a total of six reverse circulation drill holes completed at the Rattlesnake Zone and four holes drilled at the Coca Cola Zone. Each of the six holes at Rattlesnake explored the Zone’s down-dip extension 85 to 110 metres (279 to 361 feet) east of outcropping mineralization, which were worked by a series of historic decline developments. All holes drilled showed intervals of strong alteration with quartz veinlets contained within a strongly foliated metasedimentary host rock. Contacts between this receptive host rock and a feldspar porphyry intrusive rock are particularly well altered, with visual mineralization containing abundant oxide minerals and quartz veinlet swarms.
The overall objective of drilling at Rattlesnake was to target the area interpreted to represent the core of a high-grade polymetallic system that previously showed promising results. This style of mineralization was intersected both at depths of 100 to 150 metres (328 to 492 feet) down-hole, as well as at near-surface positions in holes RTSRC-3 and RTSRC-6, where strong quartz veinlet development is present from 0 to 25 metres (0 to 82 feet) down-hole.
Visual observations from the drilling at the Rattlesnake Zone identified encouraging alteration and mineralization consistent with the Company’s geological model, supporting the potential for additional polymetallic mineralization both near-surface and within the down-dip extensions of the historic workings. Based on these observations, the Company increased the scope of the drill program from the originally planned 1,067 metres (3,500 feet) to approximately 1,311 metres (4,300 feet).
Assay Results and Next Steps
A total of 860 drill samples from the Wildhorse Project were submitted to Paragon Geochemical Inc. (“Paragon”) of Sparks, Nevada, for assay analysis. The Company currently expects to receive the assay results in early August, subject to laboratory turnaround times. Once received, the assay results will be incorporated into the Company’s geological model to refine exploration targets and support planning for the next phase of exploration at the Wildhorse Project.
Company Projects
The Green Monster Property is comprised of 35 federal lode claims covering ~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 comprised of 89 mineral claims, representing 720 hectares (1,780 acres) 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 1800’s and early 1900’s.
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 (CSE): symbol “GSTR”, on the Frankfurt Stock Exchange; symbol “VO20”, and on the Over-the-Counter market (OTCQB) in the USA: symbol “GSTRF”.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Robert Marvin, P.Geo. (Ontario), an independent consulting geologist to the Company and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD
“David Ryan”
David Ryan
President & CEO
Contact
Further information regarding the Company can be found on SEDAR at www.sedarplus.ca, by visiting the Company’s website www.glenstar.ca or by contacting the Company directly at 604-449-2810.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain information contained in this news release constitutes “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the interpretation of geological data, the timing and receipt of assay results, the potential extent and nature of mineralization, the advancement of the Wildhorse Project, future exploration and drilling programs, geological models, permitting activities, and the Company’s exploration plans and objectives.
Forward-looking information is based on management’s current expectations, estimates, projections, beliefs and assumptions as of the date of this news release. Such information is subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, exploration results differing from expectations, delays in receiving assay results or regulatory approvals, changes in commodity prices, availability of financing, operational and permitting risks, and other risks associated with mineral exploration and development.
Although the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that such information will prove to be accurate, and readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by applicable securities laws.
Additional information regarding the risks and uncertainties affecting the Company is contained in the Company’s continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca. We seek safe harbour.