Heliostar Reports Multiple Stockpile Assays Including 10.7m of 1.81 g/t Gold at La Colorada Mine
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Heliostar Reports Multiple Stockpile Assays Including
10.7m of 1.81 g/t Gold at La Colorada Mine
HIGHLIGHTS:
• 10.7m grading 1.81 g/t gold from surface
• 19.8m grading 0.62 g/t gold from 4.6 metres
• 13.7m grading 0.61 g/t gold from surface
• 9.10m grading 0.87 g/t gold from surface
• Additional drilling success at the Truckshop stockpile fits La Colorada’s strategy to
maximize cashflow ahead of pit expansions
• Definition of stockpiles ongoing at La Colorada with next drilling planned at El Dorado
Vancouver, Canada – June 24 , 202 5 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
(“Heliostar” or the “Company”) is pleased to announce results from the Truckshop stockpile at its operating
La Colorada Mine in Sonora, Mexico. This is part of an ongoing drilling program across multiple targets at
the mine. La Colorada has been profitably producing precious metals from stockpiles through the first half
of 2025.
Heliostar CEO, Charles Funk, commented, “We continue to build the future for the La Colorada Mine with a
plan to maximize cashflow from low-to-no capex stockpiles and use that capital to expand the Veta Madre,
then the Creston pits. Today’s results are another example of these tactical opportunities that the Heliostar
team continues to find to optimize our operations . Further metallurgy and design work is required before
we move forward, but we expect the Truckshop stockpile to provide additional incremental cash flow at La
Colorada.”
Drill Results Summary
The Truckshop stockpile was deposited as a waste dump in the 1990s when La Colorada was operated by
Eldorado Gold Corporation . It is located only 4 00 metres from the mine’ s crushing circuit. Production
records suggested that some of this material could be at a grade that is potentially economic in the current
gold price environment. This provides a production bridge prior to higher-grade production from the Veta
Madre and Creston pits.
Having current production from the Junkyard stockpile, the Company is well placed to assess the economics
of the various dumps at La Colorada. With this information , drilling of 35 holes was undertaken into the
Truckshop stockpile (Figure 2) to ascertain if it has the same potential as the Junkyard.
A total of 26 separate drillholes in the waste dump returned significant widths with grades in excess of the
0.164 g/t gold-equivalent1 cut-off grade used for the Junkyard. Zone A, an easily accessible portion of the
stockpile with consistently higher-grade intercepts, could be accessed quickly and added to the production
profile for La Colorada (Figure 2) . Zone B contains lower grades , or mineralization beneath low grade
material that may be less economically viable to re-process.
The Truckshop stockpile is also underlain in parts by historic tailings, which are typically higher grade where
drilled. Metallurgical assessment has not yet been completed, and assay results from these historic tailings
have not been included in this release.
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Figure 1: Aerial view of La Colorada showing pits, stockpiles and selected infrastructure.
Figure 2: Isometric view of Truckshop Stockpile with drilling shown and selected results labelled.
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Next Steps
Results from th e drill program are being incorporated into an internal resource model that will not be
included in the upcoming La Colorada technical report.
The Company is undertaking metallurgical analys es, including bottle roll tests and column leach tests.
Should the results of that program provide positive results, Heliostar will complete a mine plan with a view
to proceeding with extraction and processing later this year.
Following the successful completion of this drill program, the Company will now change the focus of drilling
to test the larger El Dorado stockpile (Figure 1) . If that drilling is successful, it may provide additional
resources and cash flow similar to that currently being generated from the producing Junkyard reserve. The
intention is to produce from these low-cost stockpiles to maximize cashflow ahead of primary mining from
the open pit pushbacks.
Following the completion of the full stockpile drill program, the focus of drilling will shift to stepping out on
the high-grade vein intercepts beneath and along strike from the open pits. The results received to date
provide optimism for the potential of an underground future at La Colorada (see our April 9, 2025 , press
release here). In addition, the Company will advance property scale exploration targets with mapping and
geophysics to define drill targets beyond the currently mined areas.
Truckshop Zone A Drilling Results Table
HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
25-LCWD-068 0.0 10.7 10.7 1.81 9.8
25-LCWD-069 1.5 21.3 19.8 0.30 14.2
25-LCWD-070 0.0 13.7 13.7 0.61 10.2
25-LCWD-071 0.0 12.2 12.2 0.24 6.5
25-LCWD-072 0.0 10.7 10.7 0.33 9.3
25-LCWD-073 1.5 10.7 9.1 0.39 18.1
25-LCWD-076 3.0 13.7 10.7 0.34 6.2
25-LCWD-077 7.6 21.3 13.7 0.30 14.1
25-LCWD-078 13.7 21.3 7.6 0.54 13.6
25-LCWD-079 4.6 24.4 19.8 0.62 32.4
25-LCWD-080 6.1 13.7 7.6 0.44 11.0
25-LCWD-081 0.0 9.1 9.1 0.86 9.9
25-LCWD-082 0.0 12.2 12.2 0.32 14.9
25-LCWD-083 0.0 4.6 4.6 0.14 13.7
25-LCWD-084 0.0 10.7 10.7 0.31 9.9
Table 1: Significant Drill Intersections from Zone A.
Truckshop Zone B Drilling Results Table
HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
25-LCWD-057 15.2 50.3 35.1 0.19 5.3
25-LCWD-058 33.5 47.2 13.7 0.21 8.1
25-LCWD-059 35.1 45.7 10.7 0.16 18.0
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25-LCWD-060 12.2 21.3 9.1 0.14 8.6
and 32.0 45.7 13.7 0.36 8.1
and 51.8 62.5 10.7 0.28 15.1
25-LCWD-061 27.4 47.2 19.8 0.42 5.4
25-LCWD-062 No Significant Results
25-LCWD-063 No Significant Results
25-LCWD-064 No Significant Results
25-LCWD-065 No Significant Results
25-LCWD-066 16.8 25.9 9.1 0.15 6.2
25-LCWD-067 No Significant Results
25-LCWD-074 4.6 10.7 6.1 0.17 7.6
25-LCWD-075 No Significant Results
25-LCWD-085 3.0 9.1 6.1 0.21 10.2
25-LCWD-086 No Significant Results
25-LCWD-087 Assays Pending
25-LCWD-088 12.2 25.9 13.7 0.24 10.9
25-LCWD-089 16.8 36.6 19.8 0.17 9.0
25-LCWD-090 18.3 27.4 9.1 0.27 8.7
25-LCWD-091 No Significant Results
Table 2: Significant Drill Intersections from Zone B.
Drilling Coordinates Table
Hole ID
Northing
(NAD27 CONUS
Zone 12N)
Easting
(NAD27 CONUS
Zone 12N)
Elevation
(metres)
Azimuth
(°)
Inclination
(°)
Length
(metres)
25-LCWD-057 3185752 542005 478.1 0 -90 71.6
25-LCWD-058 3185681 542003 480.1 0 -90 59.4
25-LCWD-059 3185666 541970 479.9 0 -90 59.4
25-LCWD-060 3185770 541970 476.2 0 -90 73.2
25-LCWD-061 3185754 541934 475.6 0 -90 70.1
25-LCWD-062 3185647 541870 469.6 0 -90 30.5
25-LCWD-063 3185665 541830 444.2 0 -90 19.8
25-LCWD-064 3185710 541831 445.2 0 -90 27.4
25-LCWD-065 3185745 541836 445.6 0 -90 36.6
25-LCWD-066 3185782 541857 448.3 0 -90 48.8
25-LCWD-067 3185630 541828 447.0 0 -90 13.7
25-LCWD-068 3185839 541759 421.3 0 -90 29.0
25-LCWD-069 3185770 541764 428.5 0 -90 27.4
25-LCWD-070 3185735 541767 429.9 0 -90 25.9
25-LCWD-071 3185700 541768 430.8 0 -90 15.2
25-LCWD-072 3185890 541865 417.6 0 -90 21.3
25-LCWD-073 3185860 541830 422.6 0 -90 27.4
25-LCWD-074 3185602 541795 447.7 0 -90 15.2
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25-LCWD-075 3185572 541794 449.4 0 -90 15.2
25-LCWD-076 3185683 541792 441.9 0 -90 24.4
25-LCWD-077 3185717 541801 438.6 0 -90 27.4
25-LCWD-078 3185752 541799 434.0 0 -90 33.5
25-LCWD-079 3185787 541795 430.4 0 -90 33.5
25-LCWD-080 3185832 541795 427.0 0 -90 32.0
25-LCWD-081 3185867 541795 421.1 0 -90 27.4
25-LCWD-082 3185885 541829 419.8 0 -90 25.9
25-LCWD-083 3185921 541831 411.3 0 -90 21.3
25-LCWD-084 3185922 541865 413.0 0 -90 22.9
25-LCWD-085 3185629 541761 435.2 0 -90 15.2
25-LCWD-086 3185780 541832 441.6 0 -90 41.1
25-LCWD-087 3185831 541865 434.7 0 -90 39.6
25-LCWD-088 3185819 541826 432.2 0 -90 35.1
25-LCWD-089 3185752 541873 461.2 0 -90 51.8
25-LCWD-090 3185717 541875 462.8 0 -90 45.7
25-LCWD-091 3185629 541790 443.3 0 -90 19.8
Table 3: Drill Hole Details
La Colorada Mineral Reserves Statement
Classification Zone
AuEq
Cut-off
(g/t)
Tonnes
(kt)
Gold Grade
(g/t Au)
Silver
Grade
(g/t Ag)
Contained
Gold
(koz)
Contained
Silver
(koz)
Probable
El Crestón 0.160 12,841 0.76 10.1 312 4,181
Veta Madre 0.175 1,905 0.70 3.1 43 189
La Chatarrera 0.164 3,413 0.20 6.4 22 704
Total 18,159 0.65 8.69 377 5,074
2 La Colorada Operations, Sonora, Mexico, NI 43-101 technical report (the “Report”) is dated January 11, 2024, has an effective date of December 4, 2024
Quality Assurance / Quality Control
Reverse circulation (RC) holes were drilled with 5 -inch tools. Reverse circulation samples with a mass of
>20kg were split into one- quarter, which was submitted for analysis. Reverse circulation samples with a
mass of ≤20kg were split into two halves, one of which was submitted for analysis. Three-quarters or one-
half of the samples, respectively , were retained as a record. Drill samples were shipped to ALS Limited in
Hermosillo, Sonora, Mexico, for sample preparation and analysis at the ALS laboratory in North Vancouver.
The Hermosillo 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.
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Statement of Qualified Person
Gregg Bush, P. Eng. and Stewart Harris, P.Geo. , 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 ha ve approved the disclosure
herein. Mr. Bush is employed as Chief Operating Officer of the Company, and Mr. Harris is employed as
Exploration Manager of the Company.
Footnotes
1 The AuEq cut-off for La Chatarrera is 0.164 g/t AuEq based on metal prices of US$1,900/oz Au, and
US$23/oz Ag, processing costs of US$4.82/t, general and administrative costs of US$1.15/t, refining and
selling costs of US$0.66/t, gold recovery of 66% and a silver recovery of 27%. The AuEq calculation uses the
formula AuEq = (Au + Ag/equivalency factor) where equivalency factor = ((Au price in US$/g * Au recovery)
/ (Ag price in US$/g * Ag recovery)).
2 La Colorada Operations, Sonora, Mexico, NI 43 -101 Technical Report (the “Report”) is dated
January 11, 2024, has an effective date of December 4, 2024 and was prepared for Heliostar Metals Inc. by
Mr. Todd Wakefield, RM SME, Mr. David Thomas, P.Geo., Mr. Jeffrey Choquette, P.E., Mr. Carl Defilippi, RM
SME, and Ms. Dawn Garcia, CPG. The Report can be found under the Company’s profile on SEDAR+
(www.sedarplus.ca) and Heliostar’s website (www.heliostarmetals.com).
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, further metallurgy and design work is required before we move forward, but
we expect the Truckshop stockpile to provide additional incremental cash flow at La Colorada. Heliostar will
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complete a mine plan with a view to proceeding with extraction and processing later this year. The intention
is to produce from these low-cost stockpiles to maximize cashflow ahead of primary mining from the open
pit pushbacks. Following the completion of the full stockpile drill program, the focus will shift to stepping
out on the high-grade vein intercepts beneath and along strike from the open pits. The results received to
date provide optimism for the potential of an underground future at La Colorada. In addition, the Company
will advance property scale exploration targets with mapping and geophysics to define drill targets beyond
the currently mined areas.
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
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 regar ding 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 re serves;
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.