Stonegate Capital Partners Mid-Quarter Update on Heliostar Metals Ltd (TSXV: HSTR) 2Q26

Dallas, tX, January 6th 2026

DALLAS, TX -- January 6th, 2026 -- Heliostar Metals Ltd (TSXV: HSTR): Stonegate Capital Partners updates their coverage on Heliostar Metals Ltd (TSXV: HSTR). Flagship Project: Heliostar continued to advance its flagship Ana Paula project in Guerrero as a high-grade underground development asset, now highlighted by a positive PEA released in early 4Q25. The study outlines total recovered production of ~875,000 ounces over a nine-year mine life, with mill feed averaging 5.37 g/t gold and a 1,800 tpd underground operation producing roughly 101 koz per year at cash costs of ~US$923/oz and AISC of ~US$1,011/oz. At US$2,400/oz gold, the PEA delivers a post-tax NPV5 of US$426M, a 28% IRR, and a 2.9-year payback, with strong leverage to higher gold prices. Management is progressing engineering, metallurgical work, and a 15,000m drill program to upgrade Inferred resources, extend the High-Grade and Parallel panels, and support a Feasibility Study targeted for mid-2026, with first underground production still expected in 2028.

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• Mining operations restarted at San Agustin, adding 45,000 ounces
• Cerro del Gallo PFS show a base case NPV at $424.0M
• Oxide targets drilling program underway with 37 holes completed and submitted foranalysis

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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Stonegate Capital Partners
(214) 987-4121
[email protected]

Source: Stonegate, Inc.

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