Heliostar Metals Board Addition and Changes
595 Burrard Street, Suite 1723, Vancouver BC, V7X 1J1, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Heliostar Metals Board Addition and Changes
Vancouver, Canada, December 12, 2023 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
(“Heliostar” or the “Company”) The Board of Directors is pleased to announce the following changes and
additions to its Board. We believe that these changes will provide strengthened governance while also adding
depth and skills, providing clarity of responsibility and purpose for the company’s next stage of growth. The
board has approved the following Board and Management changes.
Heliostar C hairman, Jacques Vaillancourt commented “The past 12 -months were transformational for the
Company with the addition of Ana Paula and San Antonio projects in Mexico to the Unga project in Alaska. The
management team made great strides in advancing the Company the past year. The next 12-18 months will
lead Heliostar inexorably from being an exploration company, to a development company with an exciting
portfolio of exploration projects. This growth requires additional governance, depth, skills, judgement, discipline
and clarity of purpose which we believe these changes will help ensure.”
It is with pride and pleasure that we announce the addition of Mr. Barry Murphy as non-executive director with
immediate effect to Heliostar’s board of directors. Mr. Murphy will also join Heliostar’s Technical Committee,
chaired by Mr. Alan Wilson Ph.D.
Mr. Murphy is currently the Chief Operating Officer of Aclara Resources Inc. and is a senior mining executive
with a career spanning more than more than thirty years in mining and mineral processing. Mr. Murphy has
successfully delivered several multi -million/billion dollar projects in Southern Africa and South America. Mr.
Murphy started with Anglo American in 1987 after earning a degree in Mechanical Engineering from the
University of Witwatersrand and a degree in Commerce from the University of South Africa. Progressing to Sr.
VP Technical and Projects and VP Projects, Copper within Anglo American. Additionally, Mr. Murphy was Senior
Vice President Technical Services & Projects for Yamana Gold Inc and VP Engineering for Torex Gold Resources.
Mr Murphy is currently a member of Adventus Mining Corporation’s Board of Directors. As part of the
compensation of his service the Board will grant Mr Murphy 200,000 share purchase options and 50,000
RSU’s to the incoming director at the greater of the price on market close of the 11th of December or 30c.
As part of refining and streamlining responsibilities, Mr. Jacques Vaillancourt will become Non -Executive
Chairman. This change will allow for better leadership, greater clarity of responsibilities and focus on the best
in class Environmental, Social and Governance (ESG) standards.
Mr. Charles Funk will add the title and role of President to his current title and responsibilities as Chief Executive
Officer. This combines the titles to the roles Mr. Funk was already fulfilling on a day-to-day basis and ensure
clarity of responsibility and authority.
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Jacques Vaillancourt
Chairman
Heliostar Metals Limited
Email: [email protected]
Charles Funk
President & CEO
Heliostar Metals Limited
Email: [email protected]
TSX.V: HSTR
OTCQX: HSTXF
595 Burrard Street, Suite 1723, Vancouver BC, V7X 1J1, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
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 contains forward‐looking information which is subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ from those projected in the forward‐looking statements. Forward
looking statements in this press release include, but are not limited to, statements regarding the proposed Offering and
Transaction, as applicable, the anticipated use of proceeds of the Offering, the anticipated timing of final approval of the
Transaction by the TSXV and, in connection therewith, the resumption of trading of the Common Shares, the payment by the
Company of any finders’ fees in connection with the Offering, and general statements regarding the potential acquisition by
the Company of the Ana Paula and San Antonio projects (together, the “Acquisitions”). These forward‐looking statements are
subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from
those projected in the forward‐looking information. Risks that could change or prevent these statements from coming to
fruition include, but are not limited to, the Company not being able to complete the Offering or the Acquisitions, as applicable;
general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political
and competitive developments; and other risks outside of the Company’s control. Further, the ongoing COVID-19 pandemic,
labour shortages, high energy costs, inflationary pressures, rising interest rates, the global financial climate and the conflict in
Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing
economic uncertainty, which may impact the Company’s operating performance, financial position, and future prospects.
Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable.
Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly,
are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the
Company assumes no obligation to update these forward-looking statements.