Heliostar Recognizes Positive Commentary On Permitting at La Colorada, Sonora

Heliostar Recognizes Positive Commentary On Permitting at

La Colorada, Sonora

Vancouver, Canada, December 15 , 2025 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)

(“Heliostar” or the “ Company”) acknowledges positive media reports quoting Mexican government officials

that the Company’s La Colorada expansion project is underway and restart of open-pit mining will begin in Q1,

2026 at La Colorada.

In Q2 2025, Heliostar applied for a permit to expand the Veta Madre open pit at the La Colorada mine in Sonora.

The Company completed all necessary submissions and bonding payments in November 2025 and commenced

a twenty-business day period of review by the Secretaria of Environment and Natural Resources “SEMARNAT”.

This permit application is subject to the “positiva ficta” legal process, a process where no further questions of

the Company in the period results in an automatic positive outcome. The Company can confirm that twenty

days have passed without any requests. The Company is awaiting formal receipt of documentation to confirm

the permit which is expected in Q1, 2026.

Heliostar looks forward to providing an update on restart of mining in the Veta Madre pit at La Colorada in Q1,

2026.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on increasing production

and developing new resources at the 100% owned La Colorada and San Agustin mines, and on developing the

Ana Paula, Cerro del Gallo and San Antonio deposits in Mexico.

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, the Company’s exploration and development plans including the restart plan at La

Colorada, the expansion of the Veta Madre open pit and the granting of the requisite permitting by SEMERNAT.

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,

TSX.V: HSTR

OTCQX: HSTXF

2

595 Burrard Street, Suite 1723, Vancouver BC, V7X 1J1, Canada -- Tel +1 844 753 0045

TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1

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 de lays; 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 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.