Mr. Charles Funkreports

HELIOSTAR RECOGNIZES POSITIVE COMMENTARY ON PERMITTING AT LA COLORADA, SONORA

Heliostar Metals Ltd. has acknowledged positive media reports quoting Mexican government officials that the company's La Colorada expansion project is under way and the restart of open-pit mining will begin in first quarter 2026 at La Colorada.

In second quarter 2025, Heliostar applied for a permit to expand the Veta Madre open pit at La Colorada mine in Sonora. The company completed all necessary submissions and bonding payments in November, 2025, and commenced a 20-business-day period of review by the Secretaria of Environment and Natural Resources (Semarnat). This permit application is subject to the positiva ficta legal process, a process where no further questions of the company in the period result in an automatic positive outcome. The company can confirm that 20 days have passed without any requests. The company is awaiting formal receipt of documentation to confirm the permit which is expected in Q1 2026.

Heliostar looks forward to providing an update on restart of mining in the Veta Madre pit at La Colorada in Q1 2026.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The company is focused on increasing production and developing new resources at the 100-per-cent-owned La Colorada and San Agustin mines, and on developing the Ana Paula, Cerro del Gallo and San Antonio deposits in Mexico.

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