Heliostar Metals Ltd V.HSTR

Heliostar Drills 31.8 g/t Gold over 9.5 Metres

[Betteryear2]

Highlights:

• Hole AP-23-300

  • - 72.0 metres @ 8.0 grams per tonne (g/t) gold including

  • - 9.5 metres @ 31.8 g/t gold

• Hole AP-23-302

  • - 52 metres @ 5.0 g/t gold

• Hole AP-23-299

  • - 11 metres @ 15.8 g/t gold

• The up-plunge target is expected to connect into a single block of continuous high grade gold mineralization.

• Hole AP-23-300 is 480% better than predicted in the current resource model at a >5g/t cutoff grade

Vancouver, British Columbia--(Newsfile Corp. - August 9, 2023) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to report additional drill results from the Ana Paula project in Mexico ("Ana Paula" or the "Ana Paula Project"). These four holes continue to assess mineralization up-plunge of the High Grade Panel at the core of Ana Paula.

Heliostar CEO, Charles Funk, commented, "Drilling at Ana Paula continues to exceed our expectations and deliver impressive gold intercepts. The headline hole, AP-23-300, is a 480% increase to the current resource model prediction, at a >5 g/t gold cut-off grade. The most easterly of Heliostar's holes, AP-23-302 was also particularly impactful with an intersection of 51 metres @ 5.0 g/t gold in an area where high gold grades were not modelled in the 2023 PFS resource. These results validate our belief that we can meaningfully increase the value of the Ana Paula project. The Company continues its well-funded expansion and infill drilling program of the High Grade Panel. Additional drill results will continue to be announced ahead of the planned resource update in November 2023."

Heliostar Drills 31.8 g/t Gold over 9.5 Metres within 8.0 g/t Gold over 72.0 Metres in Up-Plunge Target at the Ana Paula Project (newsfilecorp.com)