Heliostar Files Technical Report for Goldstrike Project
TSX.V: HSTR
OTCQX: HSTXF
Heliostar Files Technical Report for Goldstrike Project
Vancouver, Canada, May 7, 2026 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
(“Heliostar” or the “Company”) announces that, further to its news release dated March 24, 2026, it has
filed a Technical Report for its recently acquired Goldstrike Project located in Utah, USA.
The technical report was prepared in accordance with National Instrument 43 -101 – Standards for
Disclosure for Mineral Projects. It has an effective date of March 23, 2026, with SLR Consulting (Canada)
Ltd. as the lead author and consultant. The technical report titled “NI 43-101 Technical Report Goldstrike
Project, Utah, USA ” has been filed on the SEDAR+ web site at www.sedarplus.ca and posted on the
Company’s website at www.heliostarmetals.com.
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, and the Goldstrike project in Utah.
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
information relate to, among other things, timing and economics of mineral production, ability to expand
production, resources, and exploration potential.
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
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TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
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 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 surro unding 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 assumptions or changes in circumstances or any other
events affecting such statements or information, other than as required by applicable law.
This news release includes certain non-International Financial Reporting Standards (IFRS) measures. The
Company has included these measures, in addition to conventional measures conforming with IFRS, to
provide investors with an improved ability to evaluat e the project and provide comparability between
projects. The non -IFRS measures, which are generally considered standard measures within the mining
industry albeit with non-standard definitions, are intended to provide additional information and should
not be considered in isolation or as a substitute for measures of performance prepared in accordance with
IFRS. Cash costs (Cash Costs) are a common financial performance measure in the gold mining industry
but with no standard meaning under IFRS. The Company believes that, in addition to conventional
measures prepared in accordance with IFRS, certain investors use this information to evaluate each
project’s economic results in the technical reports and each project’s potential to generate operating
earnings and cash flow. All -in Sustaining Costs (AISC) more fully defines the total costs associated with
producing precious metals. The AISC is calculated based on guidelines published by the World Gold Council
(WGC), which were first issued in 2013. In light of ne w accounting standards and to support further
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TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
consistency of application, the WGC published an updated Guidance Note in 2018. Other companies may
calculate this measure differently because of differences in underlying principles and policies applied.
Differences may also arise due to a different defin ition of sustaining versus growth capital. Note that in
respect of AISC metrics within the technical reports because such economics are disclosed at the project
level, corporate general and administrative expenses were not included in the AISC calculations.