Heliostar Presents Q3 2026 Financial and Operating Results with Record Mine Operating Earnings and Cash Balance

Charles Funk, CEO of Heliostar Metals Ltd.

“Q3 was Heliostar's most profitable quarter yet. San Agustin continues to steadily produce gold from the Corner Reserve, with drilling pointing to the potential for mine life extensions. At La Colorada, we received continued production from our injection leaching program, and we restarted open pit mining in August with the waste stripping of Veta Madre Plus. With a sub-$2,000 AISC for the quarter and no lost time incidents, we continue to build a strong platform for our growth plans. Heliostar's cash balance grew to a record $53.6 million, a $10.6 million increase in the quarter, after $6.2 million was also spent at Ana Paula. Having such a strong quarter allows us to continue to unlock our production growth pipeline. This is particularly evident at Ana Paula, where the Feasibility Study remains on track for completion in Q2 2027. The project's underground permits have also been submitted, and debt financing discussions are advancing. Initial development expenditure for Ana Paula is anticipated to increase in coming quarters, starting with the ordering of long-lead-time items in the next few weeks. Whilst we expect to maintain strong mine operating earnings, we will start to deploy the cash generated into the items that will de-risk the timeline to first gold at Ana Paula rather than continuing to build cash on the balance sheet. Our goal remains bringing the mine into production without additional equity dilution.”