Vancouver, British Columbia--(Newsfile Corp. - December 2, 2021) - Heliostar Metals Limited (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is delighted to announce the appointment of Clark Gillam to the company's Board of Directors.

Clark Gillam is the co-founder of Nebari Partners, an investment management firm that has completed over $100 million in transactions in the natural resources sector since 2017. Previously Mr. Gillam worked in the Trading Division at Glencore. He holds an M.Sc. in Finance from Trinity College Dublin and a B.Sc. in Economics from Wharton Business School.

Heliostar Chairman, Jacques Vaillancourt, commented: "Clark is a proud Alaskan with a wide-ranging background in financing mining and exploration projects around the world. Additionally, Clark is a meaningful shareholder of Heliostar, which he has achieved through open market transactions and participation in recent Heliostar financings. Mr. Gillam's addition builds on our teams' strengths with excellent industry relationships and a strong understanding of the Alaskan business environment. We are pleased and excited to welcome Clark as we move forward with Heliostar's two major gold discoveries in Mexico and Alaska."

Clark Gillam, commented: "Very few explorers have a portfolio as well set up as Heliostar, with a new discovery in Mexico and Unga beginning to show its full potential here in Alaska. The company has a very bright future and I'm excited to be joining ahead of a busy 2022."

About Heliostar Metals Ltd.

Heliostar is a well-financed junior exploration and development company with a portfolio of high-grade gold projects in Alaska and Mexico.

The company's flagship asset is the 100% controlled Unga Gold Project on Unga and Popof Islands in Alaska. The project hosts an intermediate sulfidation epithermal gold deposit, located within the district-scale property that encompasses 240 km²  across the two islands. Additional targets on the property include porphyry copper-gold targets, high sulphidation targets and intermediate sulphidation epithermal veins.

On Unga Island, priority targets include: the SH-1 and Aquila, both on the Shumagin Trend, the former Apollo-Sitka mine, which was Alaska's first underground gold mine, and the Zachary Bay porphyry gold-copper prospect.

Gold mineralization at the Centennial Zone is located on neighbouring Popof Island within four kilometres of infrastructure and services at Sand Point.

In Mexico, the company owns 100% of three early-stage epithermal projects in Sonora that are highly prospective for gold and silver. Cumaro forms part of the El Picacho district, while the Oso Negro and La Lola projects are early-stage projects considered prospective for epithermal gold-silver mineralization.

For additional information please contact:

Jacques Vaillancourt 
Chairman
Heliostar Metals Limited
Phone: +44 780 226 8247
Email: jacques.vaillancourt@heliostarmetals.com

Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Phone: +1 778 357 1313
Email: rob.grey@heliostarmetals.com

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.

Forward-Looking Information. This release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "would", "may", "could" or "should" occur. Forward-looking statements in this press release include, as we push ahead our two major gold discoveries in Mexico and Alaska. Although Heliostar believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, weather, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106135