Heliostar Metals Ltd. reported additional drill results from the Ana Paula Project in Mexico ("Ana Paula" or the "Ana Paula Project"). These two holes complete the drilling results
that will be included in the resource update planned for November 2023. The holes form a detailed cross-section through the deposit. The regularly spaced and oriented holes show the remarkable grade consistency in the High Grade Panel within the Ana Paula deposit. Results from this press release are infill holes within the High Grade Panel at Ana Paula. Drillholes AP-23- 306, AP-23-307 and AP-23-291 (previously released) form a tightly spaced fence of holes that form a north-south section through the High Grade Panel. This data is a key component of the upcoming resource estimate. The fence spacing will set the confidence in the continuity of grade between drill holes. The drill results show remarkably consistent gold mineralization across the section. The high-grade mineralization remains open beneath hole AP-23-306. The Company plans additional drilling to define the
full extent of the high-grade gold mineralization beneath this intercept. The upper part of hole AP-23-306 also crossed the Parallel Panel target. The hole overlapped an
intersection in the previously reported hole AP-23-299. It returned a strong intersection of gold mineralization (35.9 metres grading 8.2 g/t gold) further re-enforcing the potential of this target area. Drill results from twelve of the thirteen holes targeting the High Grade Panel delivered increased gold grades or thicknesses when compared to the existing model. One of the twelve holes (AP-23-302) intersecting gold mineralization where none was previously estimated. Results with increased grades or thicknesses are expected to positively impact future resource models. The potential impact of these drill results on future resource models can be inferred by comparing the actual grades to those predicted by the existing model. Drilling that outperforms (i.e. is higher grade or wider) 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.