Heliostar Commences Open Pit Mining at La Colorada Mine
TSX.V: HSTR
OTCQX: HSTXF
Heliostar Commences Open Pit Mining at La Colorada Mine
Vancouver, Canada, August 27, 2026 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
(“Heliostar” or the “Company”) is pleased to announce that the commencement of mining at the Veta
Madre pit at the Company’s 100% owned La Colorada property occurred earlier this week.
Charles Funk, CEO , comments: “The restart of open-pit mining at La Colorada is another important
milestone for Heliostar. This progress is part of our corporate plan to secure cash flow through 2027 and
2028 to support construction at Ana Paula. We see production from Veta Madre as a critical part of that
plan. Gold production is moving from the innovative approach of stockpile-and-injection leaching that has
driven our current production to stacking higher-grade new gold ore for production starting next year. The
Company has designed a larger pit than detailed in the 2025 technical report as a result of our recent
exploration drilling campaign. Called the Veta Madre Plus pit, it targets an additional 20,000 ounces of
gold beyond the current reserve. We see significant potential for additional growth at La Colorada and
now have a steady production base from which we can continue to expand the future of the mine.”
La Colorada Mine Details
The La Colorada Mine hosts reserves of 376,000 ounces of gold grading 0.68 grams per tonne (“g/t”) in
17.1 million tonnes ( “Mt”) of ore. The current technical report and operating plan for the mine show a
six-year mine life averaging 46,100 ounces of annual gold production.
Within the larger res erve, the Veta Madre pit hosts 48,000 ounces of gold grading 0.71 g/t in 2.1 Mt of
ore. Through the first half of 2026, the Company completed a drill campaign at the Veta Madre Plus pit
area and is targeting an additional 20,000 ounces of gold beyond the current reserve base in the currently
planned Veta Madre Plus pit.
The operation is currently producing gold from injection leaching and is on track to meet its production
guidance of 20,000-22,300 ounces of gold in 2026.
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Photo 1: The first blast from the restart of mining at Veta Madre
Photo 2: La Colorada leadership team celebrating the first blast
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TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Photo 3: The La Colorada site team
Photo 4: View of mining operations in the Veta Madre cutback area
Cyanide Code
The Company is also proud to announce it has become a Signatory to the International Cyanide
Management Code (the “Cyanide Code”). The Cyanide Code is a risk-based assurance program focused on
the safe and environmentally responsible management of cyanide by companies producing gold and/or
silver and by companies manufacturing, warehousing, and transporting cyanide. This step forward is a
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595 Burrard Street, Suite 1723, Vancouver BC, V7X 1J1, Canada -- Tel +1 844 753 0045
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
part of Heliostar’s ongoing commitment to achieve the highest industry standards in all aspects of the
Company’s operations. By becoming a signatory, Heliostar commits to following the Cyanide Code’s
Principles and implementing its Standards of Practice. As part of this program, the information submitted
by the La Colorada operation to the International Cyanide Management Institute (“ICMI”) will be posted
on the Cyanide Code website (www.cyanidecode.org).
Qualified Persons
Gregg Bush, P.Eng. and Mike Gingles, MBA, the Company’s Qualified Persons, as such term is defined by
National Instrument 43 -101 – Standards of Disclosure for Mineral Projects, have reviewed the scientific
and technical information that forms the basis for this news release and have approved the disclosure
herein. Mr Bush is employed as COO, and Mr Gingles is employed as VP Corporate Development of
Heliostar.
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% owned pipeline of growth projects in Mexico and the USA.
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.
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 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, exploration expectations . expanding the resource base and
growing our annual production profile in the near term.
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
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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 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 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 me tals 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 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 e conomic 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 documents. 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 assumptio ns or changes in circumstances or any other events
affecting such statements or information, other than as required by applicable law.