Heliostar Returns to Trading on TSX-V
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Heliostar Returns to Trading on TSX-V
Vancouver, Canada, March 22, 2023 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1)
(“Heliostar” or the “Company”) is pleased to announce that trading in the Company's shares will resume
at the open of the market today, March 22nd on the TSX Venture exchange.
Heliostar CEO, Charles Funk commented “This is another key milestone for shareholders of the Company
as we complete our tran sformation to become a gold developer. The Company closed a C$20.4 Million
financing on March 17 th, resumes trading today and expects to complete the transaction before the end
of March. Heliostar returns to trade with a significantly more advanced portf olio of projects led by the
permitted Ana Paula deposit, over 3. 2 million measured and indicated ounces owned or optioned and a
much stronger gold price. Our key next step is to provide a detailed re -scoping program for Ana P aula
upon completion of the transaction.”
The Company can now submit the required documentation to retu rn to trade on the OTCQX and will
provide an update once the timeline is clear.
Acquisition Webinar
Heliostar Metals will present detailed introduction to the transaction in a live webinar at 1pm Pacific (4pm
Eastern) on Thursday March 23rd. The webinar can be accessed with this link
https://www.amvestcapital.com/webinar-directory/heliostarmetals032323 or via the Company’s
website. CEO, Charles Funk, will make a presentation and take participants questions. A recording will
be made available on the Company website following the webinar.
About Heliostar Metals Ltd.
Heliostar is a junior mining company with a portfolio of advanced high-grade gold projects in Mexico and
Alaska.
Upon completion of the Transaction, the Company intends to focus on developing the 100% owned Ana
Paula Project in Guerrero, Mexico. In addition, Heliostar is working with the Mexican government to
permit the San Antonio Gold Project in Baja Sur, Mexico . The Company continues efforts to e xpand the
resource at the Unga Gold Project in Alaska, United States of America.
The Ana Paula Project deposit contains proven and probable mineral reserves of 1,021,000 ounces of gold
at 2.36 grams per tonne (" g/t”) gold and 2,254,000 ounces of silver at 5.22 g/t silver. 1 Ana Paula hosts
measured and indicated resources of 1,461,800 ounces of gold at 2.17 g/t gold and 3,269,000 ounces of
silver at 4.8 g/t silver. 1 A Preliminary Feasibility Study was completed in 2017 and the asset is permitted
for open-pit mining.1 The asset contains significant existing infrastructure including a portal and 412 metre
long decline.1
San Antonio is a high-grade oxide gold deposit containing measured and indicated mineral resources of
1,735,000 ounces of gold at 0.83 g/t gold 2. A Preliminary Economic Assessment for Argonaut was
completed in 2012.
TSX.V: HSTR
OTCQX: HSTXF
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
Unga is an advanced vein district containing the SH -1 gold deposit within a large, prospective vein field.
SH-1 contains inferred minerals resources of 384,00 ounces of gold at 13.8 g/t gold.
For additional information please contact:
Charles Funk
Chief Executive Officer
Heliostar Metals Limited
Email: [email protected]
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: [email protected]
Sources
1. Alio Gold Inc. , Ana Paula Gold Project NI 43 -101 Technical Report Amended Preliminary
Feasibility Study with effective date 16 May 2017.
2. Argonaut Gold Inc. , NI 43 -101 Technical Report on Resources San Antonio Project with
effective date 1 September 2012.
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 Transaction, the receipt of final approval for the Transaction by the
TSXV, our key next step is to provide a detailed re-scoping program for Ana Paula upon completion of the
transaction . 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 Transactions, 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 c osts,
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
1090 West Georgia Street, Suite 700, Vancouver BC, V6E 3V7, Canada -- Tel +1 236 429 9306
TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1
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.