Heliostar Drills 83.2m Grading 17.35 g/t Gold from 76.0m and Expands Program to 20,000m
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Heliostar Drills 83.2m Grading 17.35 g/t Gold from
76.0m and Expands Program to 20,000m
HIGHLIGHTS:
• 83.2m grading 17.35 g/t gold from 76.0 m, including
o 46.65 m grading 27.35 g/t gold from 88.95 m
• 70.7m grading 9.38 g/t gold from 49.65 m
• 92.1 m grading 4.33 g/t gold from 97.1 m
• 65.2 m grading 5.39 g/t gold from 152.2 m
• Ana Paula drill program to be extended to 20,000 metres of drilling
Vancouver, Canada – November 24, 2025 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
(“Heliostar” or the “Company”) is pleased to announce additional results from the current drill program at
its 100% owned Ana Paula project in Guerrero, Mexico . The program aims to convert inferred ounces to
higher confidence classifications . It will also support the ongoing Feasibility Study and testing the next
exploration targets around the Ana Paula deposit.
Heliostar CEO, Charles Funk, commented , “It’s rare to find a deposit that consistently produces 50-100m
wide drill intercepts of these gold grades. Ana Paula is wide, high- grade, and shallow, with good
underground mining conditions. These factors drive the low $1,011 all in sustaining cost in our new PEA for
the project. It will also drive high margins at the project. The current program is focused on upgrading
inferred ounces to higher confidence categories and the new data will be incorporated in to a Feasibility
Study. The lower costs drive a lower cut -off grade in the planned mine that opens the potential for more
inferred material conversion. To maximize this opportunity, we will expand the program by 33% to 20,000
metres to allow for more infill and exploration drilling at Ana Paula. Across the Company, we have another
study, a Prefeasibility Study for Cerro del Gallo, planned this quarter. We are also drilling at San Agustin and
La Colorada. These programs should increase production and unlock the value we see in our deep growth
portfolio.”
Drilling Program
Heliostar has completed 44 holes and 12,615 metres drilled to date. Drilling is designed along north-south
sections with angled holes to be tter define the overall east-west orientation of the High Grade Panel.
Heliostar’s drilling approach at Ana Paula has been to change the direction of drilling by approximately 90
degrees from the majority of historic intercepts . Th e Company believes that this change contributed to
demonstrating more continuous and higher -grade gold mineralization within the High Grade Panel than
recognized by previous operators.
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.
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Drill Results Summary
Holes AP-25-331, AP-25-333, AP-25-334 and AP-25-336 are resource conversion holes drilled in the central
part of the High Grade Panel. Holes AP-25-334 and AP-25-336 were drilled on the same fence, with AP-25-
334 targeting the polymictic breccia and hanging wall mineralization , and AP -25-336 targeting the
polymictic breccia and footwall mineralization. Hole AP-25-334 intercepted a wide zone of 92.05 met res
(“m”) grading 4.33 grams per tonne (“g/t”) gold, whilst AP-25-336 returned intervals of 3.2 m at 15.58 g/t
gold, 65.15 m at 5.39 g/t and 43.55 m at 4.66 g/t gold with a 3.05 m interval with 24.64 g/t gold.
Figure 1: Plan Map of the current drill program at Ana Paula
Figure 2: Cross-Section through newly reported holes AP-25-334 and AP-25-336
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Hole AP-25-333 is located 60 m to the east of the above- mentioned fence and returned two high -grade
intervals of 26.6 m grading 4.7 8 g/t gold and 83.2 m grading 1 7.35 g/t gold. Hole AP-25-331 is a step out
32 m to the southeast and returned a 7.95 m zone grading 7.92 g/t gold and a wide high -grade interval of
70.65 m at 9.38 g/t gold.
Holes AP-25-330, AP-25-332 and AP-25-335A are geotechnical holes for mine development planning and
returned assay results in line with expectations, including intervals of 48.5 m of 5.48 g/t gold, 5.2 m of 4.23
g/t gold and 35.55 m of 6.73 g/t gold, respectively.
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 throughout the High Grade Panel and its less well-defined east and west edges , with
assays pending from twelve holes. Two of the drills have begun to target deeper inferred mineralization
and the northern exploration zone, which is approximately 250 m north of the High Grade Panel that has
two drill holes pending assay.
The next Ana Paula drill results are anticipated to be released in December.
Drilling Results and Coordinates Tables
Holey From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Topcut
Au
(g/t)
Hole
Purpose
AP-25-330 45.4 93.9 48.5 5.48 Geotechnical Hole
including 45.4 53.6 8.2 7.41
and 82.3 85.5 3.2 20.8
AP-25-331 29.9 38.85 8.95 7.27 Resource Hole
including 36.0 38.85 2.85 15.5
and 49.65 120.3 70.65 9.38 1
including 59.65 75.0 15.35 18.3
AP-25-332 140.5 145.75 5.25 4.23 Geotechnical Hole
AP-25-333 38.8 65.4 26.6 4.78 4.58 Resource Hole2
including 38.8 44.45 5.65 11.3 10.4 2
and including 59.7 65.4 5.7 9.45
and 76.0 159.2 83.2 17.3 15.8 1,2
including 88.95 135.6 46.65 27.3 24.5 3
and including 146.1 155.3 9.2 9.60
AP-25-334 97.1 189.15 92.05 4.33 Resource Hole
including 98.2 105.85 7.65 8.17
and including 140.15 147.15 7.0 8.49
and including 166.1 180.0 13.9 9.70
AP-25-335A 12.75 21.2 8.45 4.76 Geotechnical Hole
and 45.0 80.55 35.55 6.73
including 45.0 51.7 6.7 11.0
and including 62.2 80.55 18.35 7.94
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and 102.6 108.2 5.6 4.67
and 140.55 145.8 5.25 5.01
AP-25-336 25.15 28.35 3.2 15.6 Resource Hole
and 128.35 141.7 13.35 2.50
including 128.35 132.0 3.65 6.85
and 152.2 217.35 65.15 5.39 4.98 4
including 152.2 162.4 10.2 13.6
including 173.8 176.85 3.05 24.6 15.8 4
Table 1: Significant Drill Intersections
1 Result reported in November 20th Q3, 2025 quarterly news release
2 Top cut to 47 ppm Au based on resource model domains
3 Top cut to 64 ppm Au based on resource model domains
4 Top cut to 38 ppm Au based on resource model domains
Drilling Coordinates Table
Hole ID Easting
(WGS84 Zone 14N)
Northing
(WGS84 Zone 14N)
Elevation
(metres)
Azimuth
(°)
Inclination
(°)
Length
(metres)
AP-25-330 410,274 1,997,960 962.6 0 -53 126.0
AP-25-331 410,205 1,998,038 917.7 180 -50 192.0
AP-25-332 410,030 1,998,137 972.8 180 -55 329.4
AP-25-333 410,191 1,998,065 907.1 180 -55 204.0
AP-25-334 410,126 1,998,071 931.8 178 -55 302.0
AP-25-335A 410,254 1,998,038 913.4 180 -46 237.0
AP-25-336 410,128 1,998,121 933.8 180 -55 353.0
Table 2: Drill Hole Details
Ana Paula Preliminary Economic Assessment Note
Heliostar announced the results of a Preliminary Economic Assessment on November 6, 2025. References
to the results in this release are provided in greater detail here.
Quality Assurance / Quality Control
Drill core is P Q 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
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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.
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, show the full extent of the deposit, upgrade and expand the resource base,
growing our annual production profile in the near term and bringing additional production online.
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 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
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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 gene rate 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 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 “R isk 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 assumptions or changes in circumstances or any other events affecting such statements
or information, other than as required by applicable law.