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Glenstar Minerals Inc. (CSE: GSTR,OTC:GSTRF) (OTCQB: GSTRF) (FSE: VO20) ("Glenstar" or the "Company") announces that the Phase 2 drill program at the Company's Green Monster Project in Nevada has been completed, and all of the extracted rock was prepared and bagged and sent to ALS Chemex in Vancouver, B.C. for assay analysis.
The final plan for the Phase 2 program consisted of six (6) holes at various depths from 500 feet to 585 feet, and angles from vertical to 65 degrees. A track mounted reverse circulation drill was utilized for this second round of drilling, and preliminary observations by project geologist Bob Marvin in the field indicate that three of the six holes drilled contained highly fractured rock with abundant clay alteration and brightly coloured orange and red oxide minerals and decalcification.
This Phase 2 drill program was comprised of 3,320 feet over six (6) holes which were collared at three (3) drill pads. Three (3) holes were drilled at the site of the blind "Discovery Hole" that was encountered in the Phase 1 drill program that was conducted in May 2025 (see news release dated May 28, 2025); two (2) of these holes are considered to be of significant interest while the third hole did not exhibit the same level of fracturing and alteration, but is thought to be of interest nevertheless. One hole was collared approximately 90 meters to the southwest of the Discovery Hole and the rock recovered from this hole also indicate substantial fracturing and alteration of the rock with abundant clay alteration and bright orange and red oxide minerals. This hole is also considered to be of significant interest. Visual inspection of the rock from two holes drilled at the initial area of interest are considered to be unremarkable.
Glenstar Geologist Bob Marvin stated, "We are extremely pleased with the initial visual evaluation of the six holes drilled during Phase 2 of our ongoing drill plan. The fact that three of the six holes drilled showed significant alteration and fracturing, and a fourth hole with good potential as well, continues to support Glenstar's belief that the polymetallic zone we're drilling could represent a significant discovery. Only assays and time will tell."
The Phase 1 drill program, which was conducted in May 2025 (see news release dated July 16, 2025) encountered a new mineralized zone that is approximately 10 metres (32 feet) wide and is centered on a very high-grade zinc occurrence that is >30%, and a significant assay result of up to 177 ppm of silver (5.7 oz/t), 523 ppm of nickel (.0523%), cobalt up to 91.9 ppm (.0019%) and copper that is >.36% according to assay results provided by ALS in Vancouver, BC. The nickel and cobalt percentages reported are subjectively classified as highly anomalous for the geological structure as well. Mineralization in this hole was intersected at depths from ~131 metres (~430 feet) to ~142 metres (~465 feet) and occurs in the hanging wall of the Green Monster Fault Zone (see news release dated July 16, 2025).
Project Background & Recent Exploration Work
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 was ever conducted on the property, but the Company's previous identification of robust nickel-copper with anomalous cobalt from sampling work done in 2022 indicated that several targets were ideal for shallow RC drilling (see news releases dated May 28, 2025, and July 16, 2025).
Glenstar acquired the Green Monster Property and conducted initial groundwork in 2022 that included reconnaissance geologic mapping, surface rock sampling, soil sampling, and a drone magnetic survey. Channel sampling across the exposed back of a raise off the main shaft returned 1.18 meters of 3.77% Cu (Copper), 3.06% Ni (Nickel), 0.21% Co (Cobalt) and 6.83% Zn (Zinc). These values are well in excess of select dump samples from historical underground workings and represent in-place, vein style mineralization. Sampling of oxide and sulfide bearing boulders directly downhill of the patented workings has confirmed the presence of very high zinc (>10%) and silver (>200ppm), as well as copper, uranium, and lead. (Sampling results provided above were previously published in the Green Monster Project NI 43-101 Technical Report dated June 20, 2023, Section 7.5).
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 sophisticated electronics and other vital energy technologies. The Company's mission is to leverage its knowledge and connections to explore, acquire, and develop critical mineral and energy metal properties throughout the world.
Glenstar's shares trade on the Canadian Securities Exchange (CSE) under the symbol "GSTR", on the Frankfurt Stock Exchange under the symbol "VO20", and on the Over-the-Counter market (OTCQB) in the United States under the symbol "GSTRF".
Robert Marvin, P.Geo (ONT) is the qualified person as defined by National Instrument 43-101 and is the independent consulting geologist for Glenstar Minerals Inc., who has examined the Green Monster and Wildhorse properties on the ground numerous times since 2022 and 2024 respectively. All fieldwork relating to geologic observations and sampling as reported herein, has been directly overseen by Mr. Marvin who supervised the preparation of, and has reviewed and approved, the technical information in this release.
ON BEHALF OF THE BOARD
"David Ryan"
President & CEO
Further information regarding the Company can be found on SEDAR+ at www.sedarplus.ca, by visiting the Company's website at 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" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of any Offering, the use of proceeds of the Offering and any statements regarding the Company's business plans, expectations and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information.
Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Mineral exploration is subject to risks and uncertainties and there is no assurance that any potential results or findings that may be suggested in this press release will ultimately happen. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedarplus.ca under the Company's profile and on the Company's website. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date.
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