Mr. Charles Funk reports

HELIOSTAR ANNOUNCES FIRST GOLD POUR FROM SAN AGUSTIN MINE RESTART

The first official gold pour from restarted mining operations at Heliostar Metals Ltd.'s 100-per-cent-owned San Agustin mine occurred in late January, 2026.

As announced on Dec. 18, 2025, the company resumed mining, crushing and stacking of new ore on the leach pad in Q4 2025. The company completed the restart on time and on budget. The operation continues to ramp up successfully and has exceeded internal targets for ore mining rates and recoverable ounces stacked on the pad to date. The mine is on track to meet production guidance of 30,000 to 32,700 ounces of gold in 2026.

Charles Funk, chief executive officer, commented: "It is an extraordinary time in the gold market to bring new production on line. Bringing San Agustin on line has increased our year-on-year consolidated production guidance by over 60 per cent whilst maintaining a low [approximately] $2,000 AISC [all-in sustaining cost] in 2026. At our 2026 budget gold price of $3,800 per ounce, cash flow from San Agustin allows us to fund our company-wide exploration programs and capital programs, including a pit expansion at La Colorada and decline development at Ana Paula. At current spot prices, we can do all this and build our cash position more rapidly to help fund the Ana Paula capex planned for 2027/2028. At San Agustin, the next key update will be results from the drill program targeting mine life extension. These results are expected in mid- to late Q1 2026."

Drilling program

The company's 10,000-to-15,000-metre drill program at San Agustin is continuing. The current focus is on defining additional oxide gold mineralization around the open pit that could extend the current mine life.

Initial assays from this program are expected to be released shortly.

Qualified persons

Gregg Bush, PEng, and Mike Gingles, MBA, the company's qualified persons, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and have approved the disclosure herein. Mr. Bush is employed as chief operating officer and Mr. Gingles is employed as vice-president, corporate development, of Heliostar.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The company is focused on increasing production and developing new resources at the La Colorada and San Agustin mines in Mexico and on developing the 100-per-cent-owned Ana Paula project in Guerrero, Mexico.

We seek Safe Harbor.