Heliostar Announces Closing of $5.6M Brokered Private Placement

Vancouver, Canada, May 5th,2021 – Heliostar Metals Limited (TSX.V:HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar”or the “Company”) ispleased to announce that, further to its news releases dated April 8, 2021 andApril 14, 2021, it has closed its marketed private placement offering of 5,348,616units (the “Units”) at a price of $1.05per Unit for gross proceeds of $5,616,047 (the “Offering”).  As previouslyannounced, the Offering was made pursuant to an agreement with CanaccordGenuity Corp., as lead agent, on behalf of a syndicate of agents including SprottCapital Partners LP. Haywood Securities Inc. and Agentis Capital (collectively,the “Agents”).

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