Heliostar Metals Ltd.

[LongDonSilver]

"The company’s recent acquisition is the Ana Paula gold deposit. The project has a completed pre-feasibility study, is permitted for open pit mining, has had over US$75 million in expenditure including a 412m long production scale decline. Heliostar is re-scoping the project as a high grade, bulk minable underground mine in 2023. Ana Paula is in southern Mexico, in Guerrero state, only 20km northwest of Torex Gold’s Morelos mine. The Ana Paula deposit holds 1.46 million ounces of measured and indicated gold at 2.17 g/t.



The San Antonio deposit, is a large open pit oxide gold deposit that was acquired by Argonaut Gold in 2010 for C$137 million. The project has a PEA completed and Heliostar has an option for three years to acquire the project upon successful granting of an environmental permit. San Antonio is in the southern portion of the Baja Peninsula, Mexico. The deposit holds 1.7 million ounces of measured and indicated gold at 0.8 g/t.



Heliostar’s Alaskan project, Unga, is an expansive gold project that covers two islands. The land package, with its three major gold corridors covers an area three times the size of Manhattan. It also boasts Alaska’s first underground gold mine, Apollo, which produced at more than 10 g/t grade over its life. The current resource hosts 384,318 inferred ounces of gold grading 13.8 g/t



Please Note that CEO Charles Funk will be hosting a live webinar on Thursday, September 7th to provide an update on Ana Paula including work completed to date, summer drill results, and upcoming catalysts as we continue to deliver results on our rapid path to production."

[LongDonSilver]

"Highlights:

Drill results identify a Parallel Panel target located ~50 metres north of the High Grade Panel with mutiple high grade intercepts:
- 38.0m grading 6.95 grams per tonne (‘g/t’) gold including 6.0m grading 23.3 g/t gold
- 4.0m grading 10.7 g/t gold
- 2.0m grading 13.6 g/t gold

Deep Expansion Zone beneath the High Grade Panel with open intercepts:
- 13.5m grading 29.1 g/t gold
- 40.0m grading 6.30 g/t gold

New West Breccia target with gold mineralization and a pathfinder element signature as strong as the High Grade Panel

San Luis Target, a large jasperiod/vein zone with open gold drill intercepts and untested high gold grades (3.0 m grading 11.35 g/t gold) on surface

Drilling to test new targets commencing in September, 2023

Amended Ana Paula acquisition agreement deferring next payment to earlier of Feasibility Study or 2025



Vancouver, Canada, September 7th, 2023 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) is pleased to introduce new growth targets at the Ana Paula project in Mexico (“Ana Paula” or the “Ana Paula Project”). The recent drill program has improved the understanding on the controls on mineralization at Ana Paula. The Company has generated these targets through a combination of new data and review of historic information.

Heliostar CEO, Charles Funk, commented, “To date in 2023, the team has been focussed on delivering the re-scope goals set out by the Company for the High Grade Panel at Ana Paula. We have made significant progress so far. Now the Company can build on this foundation to demonstrate the resource growth potential of the Ana Paula project. That starts with the significant recognition of a Parallel Panel just fifty meters north of the High Grade Panel. It opens a well mineralized new target for expansion drilling. In addition, the West Breccia, Expansion Zone, and San Luis targets are the highest priorities from a pipeline of growth targets at Ana Paula. The team will prioritize the Parallel Panel and the West Breccia targets for drilling this month.”


Growth Target Identification
The Company’s understanding of Ana Paula has built on the work of previous operators. This process led to an evolution in the understanding of controls on gold mineralization. Most of the high-grade gold is hosted in a diatreme breccia rock unit. This was the focus of exploration in the project’s recent history. The Company recognized that the breccia makes a great host rock and that it predates the mineralization however structural controls play a far greater role in focusing gold mineralization.

Broad east-west faulting controls the earlier diatreme breccia emplacement and created excellent gold pathways at Ana Paula. The results from the recent drill program at the High Grade Panel reinforce this observation. Because the historic target was the breccia rather than the east-west fault structure, very few holes in the current PFS resource are drilled in the best orientation to find these structures."

[LongDonSilver]

"New Parallel Panel
As the recent drill program advanced, five Heliostar holes have probed the footwall of the High Grade Panel. Completion of these drill hole on a more effective drill orientation began to define a new Parallel Panel to the north of the existing High Grade Panel. The Parallel Panel target currently has dimensions of 200 metres long by 150 metres wide and remains open in all directions (Figure 2). The width is not well defined as most historic holes intersected the Parallel Panel at a high angle. However, it appears to vary from 2 to over 15 metres wide. Those holes returned long, high-grade intervals including.

APM-17-15: 54.6 m grading 7.19 g/t gold

APM-15-01: 97.6 m grading 4.64 g/t gold

AP-11-72: 20.9 m grading 7.79 g/t gold

AP-12-115: 9.5 m grading 5.06 g/t gold and
13.2m grading 5.39 g/t gold

Heliostar drilling in 2023 intersected the zone at a more representative orientation and has returned the following intercepts.

AP-23-299: 38.0m grading 6.95 g/t gold including 6.0m grading 23.3 g/t gold

AP-23-304: 4.0m grading 10.7 g/t gold and 5.5m grading 4.13 g/t gold

AP-23-296: 2.0m grading 13.6 g/t gold

AP-23-303: 5.5m grading 4.15 g/t gold

The Company believes a systematic infill drill program of holes drilled in a north-south plane has a high probability of adding gold ounces to a resource that could be mined using underground methods. The Parallel Panel will be the first target tested in the growth drill program commencing in September."

[LongDonSilver]

"Deep Expansion Zone
The Ana Paula resource is open at depth. The Expansion Zone sits beneath the High Grade Panel. The previous owner recognized the potential of this zone and commenced a decline to better access the zone for drilling. Drill results include.

AP-11-70: 13.5m grading 29.1 g/t gold

AP-13-215: 40.0m grading 6.3 g/t gold

AP-12-86: 20.5m grading 6.0 g/t gold

AP-12-90: 11.0m grading 4.0g/t gold

Access to the Expansion Zone is best from underground or utilizing directional drilling. The shallow targets discussed previously will take priority ahead of the Expansion Zone for this reason alone.

......

West Breccia – A High Grade Panel Lookalike

The gold mineralization in the High Grade Panel at the core of Ana Paula has distinctive pathfinder elements associated with it, including bismuth. Two deep drill holes, 300 metres west of the High Grade Panel, intersected pathfinder anomalies as strong as those within the High Grade Panel (Figure 4; next page). These holes also have narrow gold intercepts. However, there has not been any follow-up drilling to chase potential gold mineralization similar to the High Grade Panel at the West Breccia.

Surface rock chips above the West Breccia target define multiple areas of gold anomalism with up to 2.77 g/t gold. Geophysics shows a similar chargeability anomaly as the area of the High Grade Panel. As a shallow target, the West Breccia will be tested in in the next phase of exploration drilling.



San Luis



San Luis is a hybrid epithermal vein/skarn gold target with high gold grades sampled across a large area of alteration. The target is located 5.5 kilometres east of Ana Paula. It begins at the property boundary with Torex Gold and extends for over 2.5 kilometres of strike on the Company’s lands. The target is a zone of intense silicification with gold and pathfinder elements that have epithermal quartz veins in the silicified structures. Surface samples include.

3.0 m grading 11.35 g/t gold (Undrilled)

1.15 m grading 8.83 g/t gold (Undrilled)

0.5 m grading 16.7 g/t gold (Undrilled)

Two phases of drilling were completed historically, with best results of 3.05 metres at 3.32 g/t gold and 15.3 metres grading 1.18 g/t gold. These holes tested potential skarn contacts between the limestone unit and the granodiorite intrusions. The silicified structures, which Heliostar geologists believe have the highest potential, remain almost entirely untested.

San Luis is one of several regional targets that will be the focus of a new drill permit. Heliostar will target them in 2024 once the permit has been received.


Amended Purchase Agreement

Heliostar and Argonaut Gold have amended the terms of the Ana Paula purchase agreement.

Argonaut Gold has agreed to defer the outside date of the US$2,000,000 cash payment associated with the Feasibility Study to January 1st, 2025. This is an extension of six months and represents the earliest cash obligation Heliostar must meet.

In return, Heliostar agreed to re-imburse to Argonaut Gold US$150,000 in Ana Paula claim fees from the closing of the transaction to June 30, 2023. Additionally, Heliostar will cover certain transition services and administration costs incurred during the handover of the asset.

Also, the open pit mine permit extension/new underground mine permit granting milestone was also modified to clarify that the issuance of US$5,000,000 in shares will be divided by the VWAP of Heliostar’s shares for the ten trading days ending on the last trading day immediately prior to the date of award of the permits."

[LongDonSilver]

"Vancouver, Canada, November 14, 2023 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) is pleased to announce a warrant exercise incentive program (the “Incentive Program”) designed to encourage the early exercise of up to 46,363,630 common share purchase warrants issued on March 16, 2023 (the “Outstanding Warrants”).

Pursuant to the Incentive Program, the Company will offer holders of all 46,363,630 Outstanding Warrants the opportunity to exercise each of their Outstanding Warrants between 12:00 a.m. Pacific Standard Time (“PST”) on November 17, 2023 and 12:00 p.m. PST on December 8, 2023. In return for the early exercise, each holder will receive one common share in the capital of the Company (each a “Common Share”) pursuant to the original warrant terms, plus as an incentive, one-third of one common share purchase warrant (each whole warrant, an “Incentive Warrant”). Each Incentive Warrant will allow the holder to acquire one Common Share at an exercise price of $0.40 for a period of two years following the date of the issuance of the Incentive Warrant. A holder may elect to exercise all, none, or a portion of their Outstanding Warrants.

Each Warrant is currently exercisable to purchase one Common Share at $0.30 per Common Share until March 16, 2026. Any Outstanding Warrants remaining un-exercised after 12:00 p.m. PST on December 8, 2023 will remain outstanding and continue to be exercisable pursuant to their existing terms.

Holders of Outstanding Warrants who elect to participate in the Incentive Program will be required to deliver the following to the Company on or prior to 12:00 p.m. PST on December 8, 2023:

a duly completed and executed exercise form, in the form which accompanies the certificate representing the Outstanding Warrants;
the original certificate representing the Outstanding Warrants being exercised; and
the applicable aggregate exercise price ($0.30 per Outstanding Warrant) payable to the Company by way of certified cheque, money order, bank draft, or wire transfer in lawful money of Canada.

The proceeds from the early exercise of the Outstanding Warrants will be used to advance the Company’s Ana Paula Project and for general working capital.

The Common Shares issued on exercise of the Outstanding Warrants will not be subject to any hold period. The Incentive Warrants and any Common Shares issued upon the exercise of the Incentive Warrants will be subject to a hold period expiring four months after the date of distribution of the Incentive Warrants.

The Incentive Program is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSXV.


About Heliostar Metals Ltd.

Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.

The Company is focused on developing the 100% owned Ana Paula Project in Guerrero, Mexico. In addition, Heliostar is working with the Mexican federal and local government to permit the San Antonio Gold Project in Baja Sur, Mexico. The Company continues to explore the Unga Gold Project in Alaska, United States of America.

The Ana Paula Project deposit contains proven and probable mineral reserves of 1,081,000 ounces of gold (630,000 proven and 451,000 probable ounces) at 2.38 grams per tonne (“g/t”) gold and 2,547,000 ounces of silver (1,322,000 proven and 1,226,000 probable ounces) at 5.61 g/t silver. Ana Paula hosts measured and indicated resources of 1,468,800 ounces of gold (703,800 measured and 765,000 indicated ounces) at 2.16 g/t gold and 3,600,000 ounces of silver (1,637,000 measured and 1,963,000 indicated ounces) at 5.3 g/t silver. The asset is permitted for open-pit mining and contains significant existing infrastructure including a portal and a 412-metre-long decline.

For additional information, please contact:

Charles Funk
Chief Executive Officer
Heliostar Metals Limited‬
Email: charles.funk@heliostarmetals.com

Rob Grey
Investor Relations Manager
Heliostar Metals Limited‬
Email: rob.grey@heliostarmetals.com "

[LongDonSilver]

"Heliostar’s New Parallel Panel Yields 16m Grading 11.2 g/t Gold within 147m Grading 4.1 g/t Gold at Ana Paula Project

Highlights:

Hole AP-23-309
- 147.05 metres @ 4.13 grams per tonne (g/t) gold including
- 16.0 metres @ 11.2 g/t gold in the Parallel Panel

Hole AP-23-308
- 14.8 metres @ 5.06 g/t gold in Parallel Panel
- These results will not be included in the updated mineral resource estimate the Company expects to announce later this month and represents the potential for further resource growth

Vancouver, Canada, November 8th, 2023 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) is pleased to report results from two diamond drill holes at the Parallel Panel target at the Ana Paula Project in Mexico (“Ana Paula”). These two holes are the first to specifically test the Parallel Panel target, which is 50 metres north of the High Grade Panel, after the Company identified it as new zone of high-grade mineralization over the last few months.

Heliostar CEO, Charles Funk, commented, “Ana Paula continues to outperform our expectations. The Company’s improved understanding of the gold mineralization led to the recent recognition of a new Parallel Panel only 50 metres north of the High Grade Panel. Today’s results are wide, with high-grade mineralization. In hole AP-23-309, the High Grade and Parallel panels almost connect, returning 147m at 4.13g/t gold which remains open to depth. The Company continues to test its growth targets and remains on target to deliver a resource update this month. These new successes demonstrate that the upcoming resource estimate may already be underplaying the true potential of Ana Paula.”

*

Drill Results
Today’s results are the first to specifically target the Parallel Panel. The locations step out from recent drill intercepts and test the target with the optimal north-south orientation. The new holes demonstrate good continuity of width and grade within the Parallel Panel. The gold intercepts demonstrate the strong potential for continued resource growth at Ana Paula.

Hole AP-23-309 is at the eastern end of the currently defined Parallel Panel and returned 147.05 metres grading 4.13 g/t gold from 37.5 metres downhole (Figure 1). Within that, the hole encountered 16.0 metres grading 11.2 g/t gold from 77.0 metres downhole in the Parallel Panel target.

The intercept continues downhole into the High Grade Panel with the two zones almost connecting to create the very long intercept (Figure 2). The hole encountered additional subzones of high-grade gold in the High Grade Panel. Those include 7.0 metres grading 14.5 g/t gold from 112.4 metres downhole and 8.6 metres grading 8.70 g/t gold from 153.5 metres downhole.

Hole AP-23-308 tested the Parallel Panel over 140m west of hole AP-23-309. It is the only hole within the local area that was drilled at the optimal north-south drilling orientation and retuned 14.8 metres grading 5.06 g/t gold. This intercept is open in all directions within the plane of the panel. In the area of AP-23-308, the Parallel Panel is clearly a discrete zone. It is located in the footwall and separate from the High Grade Panel."

[LongDonSilver]

"Vancouver, Canada, November 14, 2023 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) is pleased to announce a warrant exercise incentive program (the “Incentive Program”) designed to encourage the early exercise of up to 46,363,630 common share purchase warrants issued on March 16, 2023 (the “Outstanding Warrants”).

Pursuant to the Incentive Program, the Company will offer holders of all 46,363,630 Outstanding Warrants the opportunity to exercise each of their Outstanding Warrants between 12:00 a.m. Pacific Standard Time (“PST”) on November 17, 2023 and 12:00 p.m. PST on December 8, 2023. In return for the early exercise, each holder will receive one common share in the capital of the Company (each a “Common Share”) pursuant to the original warrant terms, plus as an incentive, one-third of one common share purchase warrant (each whole warrant, an “Incentive Warrant”). Each Incentive Warrant will allow the holder to acquire one Common Share at an exercise price of $0.40 for a period of two years following the date of the issuance of the Incentive Warrant. A holder may elect to exercise all, none, or a portion of their Outstanding Warrants.

Each Warrant is currently exercisable to purchase one Common Share at $0.30 per Common Share until March 16, 2026. Any Outstanding Warrants remaining un-exercised after 12:00 p.m. PST on December 8, 2023 will remain outstanding and continue to be exercisable pursuant to their existing terms.

Holders of Outstanding Warrants who elect to participate in the Incentive Program will be required to deliver the following to the Company on or prior to 12:00 p.m. PST on December 8, 2023:

a duly completed and executed exercise form, in the form which accompanies the certificate representing the Outstanding Warrants;
the original certificate representing the Outstanding Warrants being exercised; and
the applicable aggregate exercise price ($0.30 per Outstanding Warrant) payable to the Company by way of certified cheque, money order, bank draft, or wire transfer in lawful money of Canada.

The proceeds from the early exercise of the Outstanding Warrants will be used to advance the Company’s Ana Paula Project and for general working capital.

The Common Shares issued on exercise of the Outstanding Warrants will not be subject to any hold period. The Incentive Warrants and any Common Shares issued upon the exercise of the Incentive Warrants will be subject to a hold period expiring four months after the date of distribution of the Incentive Warrants.

The Incentive Program is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSXV. "