Mr. Christian Grainger reports

HELIUS OBTAINS SUSPENSION OF EX PARTE PRELIMINARY INJUNCTION ISSUED REGARDING THE SERRA PELADA PROJECT

Yesterday, the Court of Appeals of the State of Pernambuco, Brazil, granted Helius Minerals Ltd.'s request for a stay and ordered the immediate suspension of all effects of the incidental protective measure (a tutela cautelar, similar to a preliminary injunction) that was issued by the 18th Civil Court of Recife, State of Pernambuco, Brazil, against Helius, Colossus Minerals Inc. and others on July 31, 2026. The preliminary injunction was issued in incidental protective proceedings (case No. 0069402-29.2026.8.17.2001) commenced in connection with a pre-existing action to which neither Helius nor Colossus is a party (case No. 0034186-18.2011.8.17.0001).

The appellate court's ruling renders the preliminary injunction, which sought to prevent the respondents from carrying out any act aimed at consummating the sale or transfer of the shares of Colossus Mineracao Ltda., its interest in Serra Pelada Companhia de Desenvolvimento Mineral or the mining rights associated with the Serra Pelada project, entirely ineffective. The reporting appellate judge also ordered: (i) the civil court to refrain from issuing notices of litigation to the National Mining Agency and the Commercial Registry of the State of Minas Gerais (JUCEMG); and (ii) the immediate issuance of notices to ANM and JUCEMG for the cancellation and suspension of any blocks, registrations or notations of litigation made pursuant to the preliminary injunction.

As such, Helius and Colossus are no longer restricted in completing Helius's acquisition of Colossus Brazil in accordance with the terms of the exclusivity, share option and acquisition agreement between Colossus and Helius dated as of March 3, 2025, as amended.

The civil court had issued the preliminary injunction based on a motion brought by Brent Smith. The Smith motion was made without notice (ex parte) to Helius or any of the other respondents, and the preliminary injunction was consequently granted based solely on the evidence and submissions presented by Mr. Smith. The Smith case relates solely to Mr. Smith's removal as a minority quotaholder of Phoenix Gems do Brasil Ltda. and does not relate to the Serra Pelada project. Furthermore, neither Helius nor Colossus is a party in the Smith case.

Helius denies that Mr. Smith has any valid claims against it or any right to interfere with the completion of Helius's acquisition of Colossus Brazil. Helius will vigorously defend its rights and interests against any attempt by Mr. Smith to unlawfully and unreasonably interfere with the company's business.

About Helius Minerals Ltd.

Helius is a mineral exploration company focused on the identification and development of high-quality mineral assets across the Americas, with an emphasis on South American jurisdictions.