Heliostar Board Changes at Annual General & Special Meeting

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Heliostar Board Changes at Annual General & Special

Meeting

Vancouver, Canad a – October 31, 2025 – The Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)

(“Heliostar” or the “ Company”) Annual General & Special Meeting (“AGM”) is scheduled for November 26th, 2025.

The Company’s Chairman, Jacques Vaillancourt and director Ken Booth will step down at the AGM , and Mr James

Perry is proposed to succeed Mr. Vaillancourt as Chairman.

Heliostar’s Chairman, Jacques Vaillancourt, commented on his retirement from the board. “The Company has changed

immensely from my initial involvement and investment . It has grown and evolved from a portfolio of prospective

exploration assets in Alaska and Nevada to now producing gold from two mines in Mexico, La Colorada and San Agustin.

That alone would be a significant corporate achievement, but these producing mines are compl emented by a very

exciting development portfolio of 100% owned projects, which include Ana Paula, Cerro del Gallo and San Antonio. All

of this is evidence of the talent, competence and the day -in and day -out diligence of the management team, led by

Charles Funk. I leave a Company operationally, financially and geologically stronger than ever and in very good hands” .

Charles Funk, President and & CEO, stated - “I wish to thank Jacques and Ken for their leadership and guidance as we

have built Heliostar over the last five years. The Company has come a long way, and their contributions to this growth

have been significant. As we continue to expand production towards our goal of 500,000 ounces of annual production

by the end of this decade, we look forward to welcoming James Perry to the Company’s board as Heliostar’s proposed

new Chairman.”

James Perry is proposed to succeed Mr. Vaillancourt as Chair man and will be put forward for approval by the

shareholders at the upcoming AGM. Mr. Perry is currently President of Sweetwater Royalties, a base metals, industrial

minerals and renewable energy royalty Company based in Denver , Colorado. Sweetwater , one of the largest

landowners in the United States, is a privately held company established in 2020 by Orion Resource Partners. Mr. Perry

has extensive mining and resources experience across Latin America , having previously served as Business

Development Manager, as well as Corporate Counsel at Newcrest Mining, one of the world’s largest gold mining

companies, headquartered in Australia. Newcrest was acquired for US$ 19 billion by Newmont Mining in 2023.

Mr. Perry attended the London School of Economics, receiving an M.Sc. in History and International Relations, as well

as earning a Bachelor of Laws from Bond University.

Heliostar Annual General & Special Meeting Voting Instructions

Heliostar’s Annual General & Special Meeting will be held on November 26, 2025, at 8:00 am PST. The shareholders

as of the record date of October 10, 2025, will be entitled to vote and are encouraged to vote before the proxy voting

deadline on November 24, 2025, at 8 am PST. Due to the Canada Post service disruption, paper documents may take

longer to arrive; however, shareholders can still vote their shares with the following instructions.

How Registered Shareholders Can Vote: Registered shareholders are shareholders who hold their shares directly in

the Company, and not through a brokerage account or depository company. Registered shareholders can call

Computershare Shareholder Services at 1 -800-564-6253 (Canada/US) or , for overseas holders, call the direct dial

number 1-514-982-7555 (Monday to Friday, 8:30 am to 8:00 pm EST) to request their voting control numbers.

How Beneficial Shareholders Can Vote: Beneficial shareholders are shareholders who hold their investment through

a brokerage house, depository company or other intermediary. There are two types of beneficial owners: (i) those who

object to their identity being made known to the issuers of secu rities which they own (“Objecting Beneficial Owners”

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or “OBOs”), and (ii) those who do not object to their identity being made known to the issuers of securities which they

own (“Non-Objecting Beneficial Owners” or “NOBOs”). The Company is sending meeting materials directly to NOBOs.

NOBOs may submit their votes by completing the Voting Instruction Form (“VIF”) available on the Company’s website

and sending the completed VIF to Computershare by email at [email protected] . NOBOs can also contact

Computershare at 1-800- 564-6253 to request their voting control numbers and instructions.

OBOs should contact their brokerage house or other intermediary and ask to obtain their voting control number and

instructions to be able to vote on the Broadridge voting site www.proxyvote.com.

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 and

exploration stage 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 , all in Mexico and the Unga project in Alaska, USA.

For Additional Information, Please Contact:

Charles Funk

President and Chief Executive Officer

Heliostar Metals Limited

Email: [email protected]

Phone: +1 844-753-0045

Rob Grey

Investor Relations Manager

Heliostar Metals Limited

Email: [email protected]

Phone: +1 844-753-0045

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.

Cautionary Statement Regarding Forward-Looking Information

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 rel ease, 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 infor mation relate to, among other things, the Company’s annual

production goals.

Forward-looking statements and forward–looking information relating to the terms and completion of the Facility, any

future mineral production, liquidity, 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 receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or

ongoing military conflicts; costs of exploration and development; the est imated 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 may be expressed or implied by such forward –

looking statements or forward-looking 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

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TSX.V: HSTR

OTCQX: HSTXF

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 relating 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 economic 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 volatili ty; 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 documents. Readers are cautio ned 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 or changes in circumstances or any other

events affecting such statements or information, other than as required by applicable law.