Mr. Charles Fun reports

HELIOSTAR WELCOMES TARA GILFILLAN TO BOARD

Heliostar Metals Ltd. has added Tara Gilfillan as a non-executive director and audit chair to Heliostar's board of directors effective March 1, 2026.

Ms. Gilfillan has over 30 years of executive and governance experience, with the majority of her career focused in the mining industry, including extensive work in financial oversight, capital markets transactions and corporate leadership. She has served on the boards of publicly listed and privately held mining and mining-services companies including U.S. Gold and MCC Corp.

Her career spans senior executive roles with DRA Americas, Northgate Minerals, and includes serving as founder of Optimize Group and co-founder of Halyard Inc., mining advisory and engineering firms. She has held executive oversight of engineering, consulting and operating businesses, with accountability for financial reporting, internal controls and disciplined capital allocation. Her experience includes capital markets transactions, acquisitions and financial due diligence across publicly listed and private mining companies. Ms. Gilfillan brings significant international experience across Canada, Australia and Latin America, including work in Brazil, Peru, Colombia and Mexico. She holds a bachelor of commerce in accounting and finance from Queen's University, is a chartered professional accountant (CPA, CA), holds the ICDD designation and has completed executive education in cybersecurity governance for boards at MIT Sloan.

Heliostar's new audit chair, Tara Gilfillan, commented: "Heliostar has articulated a clear and ambitious strategy to build meaningful production scale in the precious metals sector. Delivering on that strategy will require consistent execution, disciplined capital deployment and careful stewardship of shareholder capital. I look forward to contributing to the company's financial discipline and governance oversight as it advances through this next phase of growth."

Heliostar's chairman, James Perry, added: "Heliostar has entered an exciting new chapter defined by operational execution, disciplined growth and long-term value creation. As we expand our production base and advance our development pipeline, strong financial oversight and thoughtful capital allocation will be critical. Tara's extensive experience as a CFO, audit chair and mining executive across public companies will further strengthen our governance, enhance our risk management and support management as we scale responsibly. We have assembled a high-quality board with complementary skills to guide Heliostar through its next stage of growth, and Tara's appointment meaningfully strengthens that foundation."

Incentive plan issuance

Heliostar further announces that, pursuant to the company's omnibus equity incentive compensation plan, it has granted 200,000 stock options at an exercise price of $2.94 and 50,000 restricted share units (each, an RSU) to directors of the company. The options are exercisable for a period of five years and will vest over the next three years. The RSUs will vest in three equal annual instalments commencing on the first anniversary of the grant date.

About Heliostar Metals Ltd.

Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada mine in Sonora and the San Agustin mine in Durango. The company also has a strong portfolio of development and exploration stage projects in Mexico and the United States. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur, all in Mexico, and the Unga project in Alaska, United States.

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