Dr. Christian Grainger reports

HELIUS MINERALS ANNOUNCES CONDITIONAL APPROVAL FOR THE ACQUISITION OF THE SERRA PELADA GOLD - PGM PROJECT

Further Helius Minerals Ltd. has received conditional approval from the TSX Venture Exchange with respect to closing of the acquisition to acquire all of the issued and outstanding quotas of the Brazilian subsidiaries of Colossus Minerals Inc., being Colossus Mineracao Ltda. and Mineracao Fazenda Monte Belo Ltda., along with all intercorporate loans owed by the target companies to Colossus, pursuant to the exclusivity, share option and acquisition agreement dated March 3, 2025, as amended. Colossus Brazil holds a 75-per-cent interest in Serra Pelada -- Companhia de Desenvolvimento Mineral (SPCDM), which holds all right, title and interest in and to the mining rights, concessions, and other assets comprising the Serra Pelada gold -- PGM (platinum group metals) project in Para state, Brazil.

Having cleared this regulatory hurdle with the TSX Venture Exchange, Helius is on track to proceed to exercise the option granted to it pursuant to the definitive agreement and move forward with closing the acquisition.

Subscription receipts escrow release

Concurrent with the option exercise, the company intends to meet the other conditions required to have funds released from escrow related to the brokered private placement offering of 12,481,850 subscription receipts of the company at a price per subscription receipt of $3.00 for aggregate gross proceeds of $37,445,550, which offering was completed on Feb. 5, 2026.

The company continues to advance all workstreams necessary to complete the option exercise and transaction closing, including filings with the TSX-V, continuing liability resolution negotiations and compliance with the conditions established by the Agencia Nacional de Mineracao for the Serra Pelada mining concession. The company will provide further updates as material milestones are achieved.

About Helius Minerals Ltd.

Helius is a mineral exploration company focused on the identification and development of high-quality mineral assets across the Americas, with an emphasis on South American jurisdictions.

We seek Safe Harbor.