Heliostar Announces Reinstatement to OTCQX Market Under Symbol HSTXF after Ana Paula Acquisition
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Heliostar Announces Reinstatement to OTCQX Market
Under Symbol HSTXF after Ana Paula Acquisition
Vancouver, Canada, May 22nd, 2023 – Heliostar Metals L td. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG 1)
(“Heliostar” or the “Company”) is pleased today that the company has returned to trading on the OTCQX®
Best Market following the completion of the acquisition of the Ana Paula Project. Heliostar will continue
trading under the symbol “HSTXF”. U.S. investors can find current financial disclosure and Real-Time Level
2 quotes for the company on www.otcmarkets.com.
Heliostar CEO, Charles Funk commented , “Reinstatement on the OTCQX was a priority upon completing
the acquisition of the Ana Paula Gold project. The scale of the transaction required a trading halt on our
primary Canadian exchange resulting in a subsequent pause on the company’s OTCQX status until today.
Heliostar shares resumed trading at an opportune time for our current and prospective American
shareholders. We expect the first drill results from Ana Paula this week.”
The OTCQX Market operates a regulated market for trading 12,000 U.S. and international securities . To
qualify for OTCQX, companies must meet high financial standards . They must follow best practice
corporate governance and demonstrate compliance with applicable securities laws. Trading on the OTCQX
Market enables companies to demonstrate their qualifications and build visibility among U.S. investors.
Burns, Figa & Will PC acted as the company’s OTCQX sponsor.
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 focused on developing the 100% owned Ana Paula Project in Guerrero, Mexico. In
addition, Heliostar is working with the Mexican government to permit the San Antonio Gold Project in
Baja Sur, Mexico. The Company continues efforts to explore the Unga Gold Project in Alaska, United States
of America.
The Ana Paula Project deposit contains proven and probable mineral reserves of 1,081,000 ounces of gold
at 2.38 grams per tonne (“g/t”) gold and 2, 547,000 ounces of silver at 5. 61 g/t silver. Ana Paula hosts
measured and indicated resources of 1,468,800 ounces of gold at 2.16 g/t gold and 3,600,000 ounces of
silver at 5.3 g/t silver. The asset is permitted for op en-pit mining and contains significant existing
infrastructure including a portal and a 412 metre long decline. An updated prefeasibility study titled “Ana
Paula Project NI 43 -101 Technical Report Preliminary Feasibility Study Update” was filed on SEDAR on
April 6, 2023, with an effective date of February 28, 2023, prepared for the Company by Daniel H. Neff,
PE, Art S. Ibrado, PhD, PE, Richard K. Zimmerman, RG, SME -RM, Craig Gibson, PhD, CPG, Andrew Kelly,
P.Eng., Gordon Zurowski, P.Eng., Paul Daigle, P.Geo., Gilberto Dominguez, PE and James A. Cremeens, PE,
PG.
TSX.V: HSTR
OTCQX: HSTXF
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
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 in this
news release and has approved the disclosure herein.
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]
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.
This news release includes certain "Forward–Looking Statements" within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and "forward –looking information" under applicable
Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate",
"expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or
expressions, identify forward–looking statements or information. These forward –looking statements or
information relate to, among other things: the exploration, development, and production at the
Company’s properties; permitting at the San Antonio; and the release of exploration results.
Forward–looking statements and forward–looking information relating to any future mineral production,
liquidity, enhanced value and capital markets profile of the Company, future growth potential for the
Company and its business, and future exploration plans are based on management's reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management's
experience and perception of trends, current conditions and expected developments, and other factors
that management believes are relevant and reasonable in the circumstances, but which may prove to be
incorrect. Assumptions have been made regarding, among other things, the price of metals; no escalation
in the severity of public health crises or ongoing military conflicts; costs of exploration and development;
the estimated costs of development of exploration projects; and the Company's ability to operate in a safe
and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are
necessarily based upon a number of other assumptions and estimates that, while considered reasonable
by management, are inherently subject to significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and unknown, could cause actual results,
performance, or achievements to be materially different from the results, performance or achievements
that are or ma y be expressed or implied by such forward –looking statements or forward -looking
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
information and the Company has made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: precious metals price volatility; risks associated with the
conduct of the Company's mining activities in foreign jurisdictions ; regulatory, consent or permitting
delays; risks relating to reliance on the Company's management team and outside contractors; risks
regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks,
on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate
sufficient cash flow from operations; risks rel ating to project financing and equity issuances; risks and
unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical
recoveries and capital and operating costs of such projects; contests over title to properties, particularly
title to undeveloped properties; laws and regulations governing the environment, health and safety; the
ability of the communities in which the Company operates to manage and cope with the implications of
public health crises ; the econo mic and financial implications of public health crises, ongoing military
conflicts and general economic factors to the Company; operating or technical difficulties in connection
with mining or development activities; employee relations, labour unrest or unavailability; the Company's
interactions with surrounding communities; the Company's ability to successfully integrate acquired
assets; the speculative nature of exploration and development, including the risks of diminishing quantities
or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack
of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption
“Risk Factors” in the Company’s public disclosure docu ments. Readers are cautioned against attributing
undue certainty to forward –looking statements or forward-looking information. Although the Company
has attempted to identify important factors that could cause actual results to differ materially, there may
be other factors that cause results not to be anticipated, estimated or intended. The Company does not
intend, and does not assume any obligation, to update these forward –looking statements or forward -
looking information to reflect changes in assumptions o r changes in circumstances or any other events
affecting such statements or information, other than as required by applicable law.