Vancouver, Canada, December 5th
, 2022 – Heliostar Metals Limited (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) is pleased to announce that it has entered into a binding share purchase agreement dated December 5th, 2022 (the “Purchase Agreement”) with Argonaut Gold Inc. (“Argonaut”) for the sale of all of the issued and outstanding shares of Aurea Mining Inc. (“Aurea Mining”), a wholly owned subsidiary of Argonaut, which through Aurea Mining’s wholly owned subsidiary Minera Aurea S.A. de C.V. (“Minera Aurea”), holds a 100% indirect interest in and to the Ana Paula Gold Project (or “Ana Paula”) and has also entered into a
binding option agreement (the “Option Agreement”) with Argonaut and its wholly owned subsidiary, Compañía Minera Pitalla S.A. de CV (“Compañía Minera Pitalla”), pursuant to which it has been granted an option (the “Option”) to acquire a 100% interest in the San Antonio Gold Project. Both projects are located in Mexico.