Glenstar Minerals Inc. Announces Upsized $3 Million Private Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - August 20, 2025) - Glenstar Minerals Inc. (CSE: GSTR) ("Glenstar" or the "Company") is pleased to announce that as a result of strong investor demand, the Company and Hampton Securities Limited (the "Agent") have amended their agreement to increase the size of the Company's previously announced commercially reasonable efforts private placement of units of the Company (the "Units") to raise proceeds of up to $3,060,000 (the "Offering") consisting of 4,500,000 Units at a price of $0.68 per Unit (the "Offering Price"). Each Unit will consist of one (1) common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"), with each Warrant exercisable to purchase one (1) additional Common Share (a "Warrant Share") at a price of $0.85 per Warrant Share for a period of twenty-four (24) months following closing of the Offering.

The additional funds will allow the Company to increase and accelerate its drilling program at the Green Monster Property.

The Company has also granted the Agent an increased option (the "Agent's Option"), exercisable in whole or in part up to 48 hours prior to the closing date of the Offering, to sell up to an additional 675,000 Units at the Offering Price for additional gross proceeds of up to $459,000.

Due to an error in the original offering document, the Company has amended the price of the Compensation Options, previously announced on August 18, 2025, to be adjusted from $0.85 per Compensation Option to $0.68 per Compensation Option, to make the price consistent with the Offering Price. Each Compensation Option will entitle the holder thereof to acquire one Common Share at a price of $0.68 per Common Share for a period of twenty-four (24) months following closing of the Offering.

The Units will be offered pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers resident in Canada (other than the province of Quebec), and in other qualifying jurisdictions outside of Canada that are mutually agreed to by the Company and the Agent on a private placement basis pursuant to relevant prospectus and registration exemptions in accordance with applicable laws. The securities issued under the Offering to Canadian subscribers will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an amended and restated offering document related to the Offering (the "Offering Document") that can be accessed under the Company's profile at www.sedarplus.ca. The offering document will also be made available on the issuer's website at https://glenstar.ca/. Prospective investors should read the Offering Document before making an investment decision.

The Company intends to use the net proceeds of the Offering for drilling at the Green Monster Property, trenching at the Wild Horse Property, additional exploration activities at both the Green Monster Property and Wild Horse Property, and for general and administrative expenses and working capital purposes, as is further described in the Offering Document.

Closing of the Offering is expected in August of 2025, or such other date as the Company and Agent may approve. The LIFE Offering remains subject to certain conditions customary for transactions of this nature, including, but not limited to, compliance with the policies of the Canadian Securities Exchange.

The Units to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On behalf of the Board of Directors,

Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law including statements relating exploration program expenditures. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including, without limitation, closing of the Offering, timing of closing of the Offering, and the use of proceeds of the Offering. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to, delays or uncertainties with regulatory approvals, including that of the CSE, risk that the Offering will not close on the anticipated timeline or at all on the anticipated terms, inability of the Company to effectively plan a program, third party land claims or failure to obtain permits. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.

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