Heliostar Announces VP Sustainability and Special Projects and Early Exercise of Warrants

Rhea-AI Summary

Heliostar Metals (TSXV: HSTR) (OTCQX: HSTXF) has appointed Hernan Dorado as Vice President Sustainability and Special Projects. Dorado brings over 20 years of mining industry experience, most recently as a founding member of Guanajuato Silver, where he held roles including Chief Operating Officer and Chief Sustainability Officer.

Dorado's background includes a Mining Engineering degree, an Executive MBA, and qualification as a mining expert with the Mining and Metallurgical Society of America. CEO Charles Funk highlighted Dorado's proven track record and his role in overseeing permitting, community, and environmental management, as well as advising on the Cerro del Gallo project strategy.

Additionally, Heliostar reported that 3,984,324 warrants have been exercised since September 16th, 2024, contributing $1,195,297 to the company's treasury.

Vancouver, British Columbia--(Newsfile Corp. - October 17, 2024) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce that it has appointed Mr. Hernan Dorado as Vice President Sustainability and Special Projects.

Hernan has over 20 years of experience in the mining industry in Mexico and overseas. Most recently he was a founding member of Guanajuato Silver, holding roles including Chief Operating Officer and Chief Sustainability Officer. During his tenure, the company grew to 4Moz of annual silver equivalent production from four operating mines by undertaking multiple successful permitting processes and mine re-starts.

Mr. Dorado is the fifth mining generation of his family, holding a Mining Engineering degree from the University of Guanajuato, an Executive MBA from the Business School of the University of Salamanca, Spain and is a Qualified Person for mining with the Mining and Metallurgical Society of America (MMSA).

Heliostar CEO, Charles Funk, commented, "We are pleased to add Hernan to the team. Hernan is a dynamic, young leader in the mining industry in Mexico with a proven track record of creating shareholder value. Hernan bolsters our in-country leadership and will oversee our permitting, community and environmental management, reporting to the Chief Operating Officer. He will further take the lead on advising the Company's strategy for the Cerro del Gallo project in Guanajuato state. Heliostar's production profile is growing quickly, and I believe with our recent additions to Management, we have the team in place to deliver in 2024 and 2025."

Warrant Exercise

Heliostar also updates that 3,984,324 warrants of the company have been exercised since September 16^th, 2024. Conversion of these warrants has contributed an additional $1,195,297 to the treasury.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on developing the 100% owned Ana Paula Project in Guerrero, Mexico and has recently entered into an agreement to acquire a portfolio of production and development assets in Mexico.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045

Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: build towards our initial target of 150,000 ounces of profitable annual gold production.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226887

FAQ

Who did Heliostar Metals (HSTXF) appoint as VP Sustainability and Special Projects?

Heliostar Metals appointed Hernan Dorado as Vice President Sustainability and Special Projects on October 17, 2024.

What is Hernan Dorado's background in the mining industry?

Hernan Dorado has over 20 years of experience in the mining industry, including roles as Chief Operating Officer and Chief Sustainability Officer at Guanajuato Silver.

How many warrants of Heliostar Metals (HSTXF) were exercised recently?

3,984,324 warrants of Heliostar Metals were exercised since September 16th, 2024.

How much additional funding did Heliostar Metals (HSTXF) receive from warrant exercises?

Heliostar Metals received an additional $1,195,297 to its treasury from the exercise of warrants.

What project will Hernan Dorado advise on for Heliostar Metals (HSTXF)?

Hernan Dorado will lead in advising Heliostar Metals' strategy for the Cerro del Gallo project in Guanajuato state.