Heliostar Announces Minor Update to Closing of Warrant Incentive Program
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
www.heliostarmetals.com | Trading Symbols: TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Heliostar Announces Minor Update to Closing of
Warrant Incentive Program
Vancouver, Canada, December 18, 2023 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
(“Heliostar” or the “ Company”) is pleased to update its disclosure regarding the closing of its warr ant
exercise incentive program (the “Incentive Program”). Capitalized terms used but not defined in this news
release have the meanings given to them in the Company’s news release dated December 11, 2023.
An additional 18,000 Outstanding Warrants were exercised pursuant to the Incentive Program.
Accordingly, the Company confirms that (a) a total of 17,599,544 common shares in the capital of the
Company were issued upon the exercise of 17,599,544 Outstanding Warrants, providing aggregate gross
proceeds of $5,279,863.20 to the Company, (b) a total of 5,866,504 Incentive Warrants were issued
pursuant to the Incentive Program, and (c) following completion of the Incentive Program, there remains
28,764,086 Outstanding Warrants.
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 developing the 100% owned Ana Paula Project in Guerrero, Mexico. In addition, Heliostar
in conjunction with the Mexican federal and local government, is working to permit the San Antonio Gold
Project in Baja Sur, Mexico. The Company continue s to explore the Unga Gold Project in Al aska, United
States of America.
Ana Paula hosts measured and indicated resources of 710,920 ounces of gold (320,204 measured and
390,716 indicated ounces) at 6.60 g/t gold and an inferred resource of 447,512 ounces of gold at 4.24 g/t
gold. 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: [email protected]
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: [email protected]
Caution Regarding Forward Looking Information and Statements
This press release contains statements which constitute “forward‐looking information” within the meaning of
applicable securities laws. Forward‐looking information is often identified by the words “may,” “would,” “could,”
TSX.V: HSTR
OTCQX: HSTXF
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
www.heliostarmetals.com | Trading Symbols: TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
“should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or similar expressions. Readers are
cautioned that forward‐looking information is not based on historical facts but instead reflects the Company’s
management’s expectations, estimates or projections concerning the business of the Company’s future results or
events based on the opinions, assumptions and estimates of management considered reasonable at the date the
statements are made. Forward-looking information in this press r elease includes statements regarding exploration
plans, the use of proceeds, and other future plans and objectives, and statements pertaining to receipt of TSX Venture
Exchange approval. Although the Company believes that the expectations reflected in such forward‐looking
information are reasonable, such information involves risks and uncertainties, and undue reliance should not be
placed on such information, as unknown or unpredictable fa ctors could have material adverse effects on future
results, performance or achievements. Among the key factors that could cause actual results to differ materially from
those projected in the forward‐looking information are the following: changes in general economic, business and
political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the
markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or
enforcement of current laws; regulations and enforcement priorit ies of governmental authorities; compliance with
government regulation and related costs; and other risks described in the Prospectus. Should one or more of these
risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect,
actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated
or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated
or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking
information except as otherwise required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.