Mr. Jacques Vaillancourt reports

HELIOSTAR METALS BOARD ADDITION AND CHANGES

Heliostar Metals Ltd.'s board of directors has made the following changes and additions to its board. Heliostar believes that these changes will provide strengthened governance while also adding depth and skills, providing clarity of responsibility and purpose for the company's next stage of growth. The board has approved the following board and management changes.

Heliostar chairman Jacques Vaillancourt commented: "The past 12 months were transformational for the company with the addition of Ana Paula and San Antonio projects in Mexico to the Unga project in Alaska. The management team made great strides in advancing the company the past year. The next 12 to 18 months will lead Heliostar inexorably from being an exploration company to a development company with an exciting portfolio of exploration projects. This growth requires additional governance, depth, skills, judgement, discipline and clarity of purpose, which we believe these changes will help ensure."

It is with pride and pleasure that Heliostar announces the addition of Barry Murphy as non-executive director with immediate effect to Heliostar's board of directors. Mr. Murphy will also join Heliostar's technical committee, chaired by Dr. Alan Wilson, PhD.

Mr. Murphy is currently the chief operating officer of Aclara Resources Inc. and is a senior mining executive with a career spanning more than more than 30 years in mining and mineral processing. Mr. Murphy has successfully delivered several multimillion-/billion-dollar projects in Southern Africa and South America. Mr. Murphy started with Anglo American in 1987 after earning a degree in mechanical engineering from the University of Witwatersrand and a degree in commerce from the University of South Africa. Progressing to senior vice-president, technical and projects, and vice-president, projects, copper, within Anglo American. Additionally, Mr. Murphy was senior vice-president, technical services and projects, for Yamana Gold Inc. and vice-president, engineering, for Torex Gold Resources. Mr. Murphy is currently a member of Adventus Mining Corp.'s board of directors. As part of the compensation of his service the board will grant Mr. Murphy 200,000 share purchase options and 50,000 restricted share units to the incoming director at the greater of the price on market close of the Dec. 11 or 30 cents.

As part of refining and streamlining responsibilities, Mr. Vaillancourt will become non-executive chairman. This change will allow for better leadership, greater clarity of responsibilities and focus on the best-in-class environmental, social and governance (ESG) standards.

Charles Funk will add the title and role of president to his current title and responsibilities as chief executive officer. This combines the titles to the roles Mr. Funk was already fulfilling on a day-to-day basis and ensure clarity of responsibility and authority.

We seek Safe Harbor.