Mr. Charles Funk reports

HELIOSTAR ANNOUNCES MINOR UPDATE TO CLOSING OF WARRANT INCENTIVE PROGRAM

Heliostar Metals Ltd. has updated its disclosure regarding the closing of its warrant exercise incentive program.

An additional 18,000 outstanding warrants were exercised pursuant to the incentive program. Accordingly, the company confirms that: (a) a total of 17,599,544 common shares in the capital of the company were issued upon the exercise of 17,599,544 outstanding warrants, providing aggregate gross proceeds of $5,279,863.20 to the company; (b) a total of 5,866,504 incentive warrants were issued pursuant to the incentive program; and (c) following completion of the incentive program, there remain 28,764,086 outstanding warrants.

About Heliostar Metals Ltd.

Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.

The company is developing the 100-per-cent-owned Ana Paula project in Guerrero, Mexico. In addition, Heliostar, in conjunction with the Mexican federal and local government, is working to permit the San Antonio gold project in Baja Sur, Mexico. The company continues to explore the Unga gold project in Alaska, United States.

Ana Paula hosts measured and indicated resources of 710,920 ounces of gold (320,204 measured and 390,716 indicated ounces) at 6.60 grams per tonne gold and an inferred resource of 447,512 ounces of gold at 4.24 g/t gold. The asset is permitted for open-pit mining and contains significant existing infrastructure, including a portal and a 412-metre-long decline.

We seek Safe Harbor.