Phase One Program At the Ana Paula Project

VANCOUVER - Heliostar Metals Ltd. reported on the drill program at the Ana Paula project in Guerrero, Mexico. The Company is drilling 2,600 metres in Phase One of the program and will follow-up the best results with a second phase of 2,400 metres.

CEO, Charles Funk, said, "We took our most aggressive step-out shots with the first holes of the 2024 program at Ana Paula. The results show two critical points about Ana Paula. First, we believe the High Grade Panel can be expanded by over 115m down plunge. Second, that new zones of gold could be identified surrounding the main panel. Early on we determined that the higher-grade gold mineralization at Ana Paula trends east-west. We changed the drilling orientation by ninety degrees from the standard historical orientation. Since then, we have found more high-grade gold. We believe Ana Paula will continue to grow as we continue to drill."

The focus of the 2024 drill program at Ana Paula is on extending the High Grade and Parallel Panels to the west. It also tests the down-dip extension of the High Grade Panel while infilling the Parallel Panel target. Two holes will be drilled through potential mine stopes to collect metallurgical samples for the ongoing Feasibility Study.

Hole AP-24-313 was the largest planned step-out of the program. It aimed to connect a deeper zone of higher-grade gold mineralization defined in the 2023 resource estimate with the High Grade Panel. First results from this gap returned an interval of 6.05 meters grading 8.24 g/t gold from 388.5 meters downhole.

This hole tests a gap of 115 meters between the upper and lower sections of the High Grade Panel. If follow-up holes continue to successfully intercept gold mineralization, they could extend the High Grade Panel to over 400 meters up and down plunge.

Hole AP-24-314 delivered a positive surprise, defining a new zone of gold mineralization; 16 meters grading 16.7 g/t gold from 182.0 meters downhole. The intercept occurs between the High Grade Panel and Parallel Panel and will require additional drilling to define its full extent. The Company believes that this could be one of several zones of mineralization at favourable fault/lithology intersections that occur surrounding the High Grade Panel.

Drilling is ongoing, with five holes completed to date for a total of 1994.8 meters. The company anticipates reporting assay results over the remainder of 2024.