Mr. Charles Funk reports

HELIOSTAR ANNOUNCES CLOSING OF THE ACQUISITION OF THE GOLDSTRIKE PROJECT IN UTAH

Further to its news release dated March 23, 2026, Heliostar Metals Ltd. has completed the acquisition of a 100-per-cent interest in the Goldstrike project located in Utah, United States, from Liberty Gold Corp. Initial consideration consists of $10.0-million (U.S.) in cash plus 1,593,213 shares of the company, with additional staged payments totalling $60.0-million (U.S.) over the next five years.

Heliostar will be publishing an updated technical report next month to support the updated mineral resource of 975,000 indicated gold ounces at 0.46 gram per tonne (g/t) plus 90,000 inferred gold ounces at 0.31 g/t announced on March 24, 2026. The company will evaluate potential strategic options for the Goldstrike project, including, but not limited to, sequencing development within the company's existing growth project pipeline and the use of special purpose vehicles to separate gold and critical minerals value streams. Future development work will focus on resource expansion, investigating the full potential of Antimony Ridge, and confirming the processing and infrastructure plans.

About Heliostar Metals Ltd.

Heliostar is a growing gold producer with a goal to produce 500,000 ounces per year by the end of the decade. The cash flow from the company's La Colorada mine in Sonora and the San Agustin mine in Durango supports the development of its 100-per-cent-owned pipeline of growth projects in Mexico and the United States. These include the flagship Ana Paula development project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur, the Goldstrike project in Utah and the Unga project in Alaska.

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