Heliostar Metals Ltd. reported additional drill results from the Ana Paula project in Mexico. These four holes continue to assess mineralization up- plunge of the High Grade Panel at the core of Ana Paula. Drill Results from this press release are from Heliostar's up-plunge growth target at Ana Paula.

Hole AP-23-299 tested the up-dip and central portion of the High Grade Panel. This hole extended mineralization towards the surface and returned 38.0 metres grading 6.95 g/t gold, including 11.0 metres grading 15.8 g/t gold. Hole AP-23-300 tested a gap in the high grade in the up-plunge area where hole AP-23-297 had intersected a sub-interval of 24 metres at 8.8 g/t gold.

Hole AP-23-300 returned 38 metres grading 13.4 g/t gold including 9.5 metres grading 31.8 g/t gold to better define the northern extent of High Grade Panel in this area. Hole AP-23-301 tested deeper beneath AP-23-300 in an area where the panel is narrower. It intersected 8.5 metres grading 3.0 g/t gold.

Drill Results Impact: The potential impact of the drill results on future resource models can be demonstrated by comparing the current results to the existing model (as reported in the 2023 prefeasibility study1). Drilling that outperforms (i.e., is higher grade or wider than) the model may be expected to improve the grade and size of future resource and reserve estimates. Using a 5 g/t cut-off grade provides a useful benchmark to the most financially impactful ounces in an underground mining scenario.

At a 5 g/t cutoff, hole AP-23-299 has an 83% increase when compared to an expected intercept calculated from the existing resource model. Using the same criteria; AP-23-300 has a 480% increase compared to the expected intercept from the resource model, AP-23-301 has a 63% decrease compared to the expected intercept from the resource model and AP-23-302 was a significant increase as no high grade was estimated in the resource model. Drilling Progress The Company is on schedule and on budget with the drilling program.

The Company completed eighteen holes at Ana Paula. The Company has reported results from twelve holes to date. Holes AP-23-302 through and AP-23-305 are the Company's first holes targeting high-grade mineralization further west into the down-plunge target.

The holes intersected sulfide mineralization throughout, particularly AP-23- 303. The Company is finishing two infill holes in the vicinity of hole AP-23-291. The result will be a cross-section of tightly spaced intercepts and these holes will support resource modelling and provide metallurgical material for analysis.