HIGHLIGHTS:

• 88.05 m grading 8.82 g/t gold from 88.2 m including
  • 35.5 m grading 13.03 g/t gold from 88.2 m
• 6.4 m grading 5.16 g/t gold from 39.8 m
• 14.3 m grading 4.19 g/t gold from 397.7 m
• 20.5 m grading 4.61 g/t gold from 198.8 m
• A third drill rig has been added to the Ana Paula program to accelerate the drilling program

Heliostar Metals Ltd. (TSX-V: HSTR) (OTCQX: HSTXF) (FSE: RGG1) is pleased to announce additional results from the current 15,000 metre drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.

Heliostar CEO, Charles Funk, commented, “The drill results from the ongoing Ana Paula program continue to provide exciting results. The infill-focused drilling consistently returns broad, continuous intervals of strong grades as expected and – in some instances – hitting higher grade material than is currently estimated in the block model. We intend to make a construction decision for Ana Paula on the back of a Feasibility Study that will allow us to have the mine in production at 100,000 ounces per year in 2028. Our comprehensive plan to de-risk the deposit is ongoing and includes collecting additional technical data beyond assays that will help us design the mine. We are pushing hard toward this goal and, as such, have mobilized a third drill rig to the site in order to compress the timeline as much as possible. I see Ana Paula as a foundational asset of the high-quality mid-tier producer we are growing towards.”

Drilling Program

Heliostar has added a third drill to accelerate the drilling program and has completed 24 holes and 6,529 metres drilled to date. Drilling is designed along north-south sections with angled holes to best define the overall east-west orientation of the High Grade Panel. Heliostar’s drilling approach at Ana Paula has been to rotate drilling by approximately 90 degrees from the majority of historic intercepts. This change has been interpreted by the Company to have contributed to demonstrating more continuous and higher-grade gold mineralization within the High Grade Panel than previous operators recognized.

Where appropriate, the holes are also being used to collect rock strength data, hydrogeologic data and samples for further metallurgical studies that will directly influence the Ana Paula mine design in the ongoing Feasibility Study.

Drill Results Summary

Holes AP-25-327 and AP-25-329 are resource conversion holes drilled at the western end and the central part of the High Grade Panel. Hole AP-25-327 was drilled along the western edge of the polymictic breccia host unit and still returned a number of attractive intercepts, including 21.7 metres grading 2.75 grams per tonne gold in the Parallel Panel from 97.0 m and 20.5 m grading at 4.61 g/t gold from 198.8 m in the High Grade Panel.

AP-25-329 is located approximately 95m southeast of AP-25-327. It is the first north-to-south hole on a new cross-section through the deposit. The hole intercepted the favourable breccia host unit and returned a wide, high-grade interval of 88.05 m grading 8.82 g/t gold from 88.2 m through the core of the High Grade Panel. A near-surface 12.75 m intercept of 3.28 g/t gold through the Parallel Panel has the potential to expand the resource model to the surface.

Figure 1: Plan Map of the current drill program at Ana Paula

 Figure 2: Cross-Section through hole AP-25-329

Holes AP-25-326 and AP-25-328 are geotechnical holes for mine development planning and returned assay results in line with expectations, including a hit of 23.0 m grading 2.86 g/t gold from 389.0 m in AP-25-326.

True widths are unknown. Mineralization at Ana Paula occurs as disseminations or vein stockworks with variable controls including rock porosity, lithology and fault networks.

Drilling continues at the less well-defined western edge of the High Grade Panel, with results from four additional holes pending from this area. Recently, drilling has been focused on the centre and eastern edge of the High Grade Panel, with assays from twelve holes pending from this area.

The next Ana Paula drill results are anticipated to be released in early November.

Drilling Results and Coordinates Tables

Table 1: Significant Drill Intersections

Drilling Coordinates Table

Table 2:  Drill Hole Details

Quality Assurance / Quality Control

Drill core is PQ size, and the core is cut in half, with half sent for analysis. Core samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Zacatecas and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish, and overlimits were analyzed by 30-gram fire assay with gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

Statement of Qualified Person

Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Harris is employed as Exploration Manager of the Company.

About Heliostar Metals Ltd.

Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.