Mr. Charles Funk reports

HELIOSTAR ANNOUNCES $6M FINANCING WITH ERIC SPROTT

Heliostar Metals Ltd. has arranged a non-brokered private placement of 10 million units at a price of 60 cents per unit for gross proceeds of $6-million.

Each unit will consist of one common share in the capital of the company and one-half non-transferable common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one additional common share at an exercise price of 90 cents for a period of 24 months following the closing date of the private placement.

2176423 Ontario Ltd., a corporation beneficially owned and controlled by Eric Sprott, intends to subscribe for the entire private placement.

The private placement is scheduled to close on or about Oct. 11, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The company will pay finders' fees to eligible finders, in accordance with the policies of the TSX-V.

The company intends to use the net proceeds of the private placement for working capital and general corporate purposes.

All securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the closing date of the private placement, in accordance with applicable securities laws.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The company is focused on developing the 100-per-cent-owned Ana Paula project in Guerrero, Mexico, and has recently entered into an agreement to acquire a portfolio of production and development assets in Mexico.

We seek Safe Harbor.