Stonegate Capital Partners Initiates Coverage on Heliostar Metals Ltd (HSTR)

Dallas, Texas--(Newsfile Corp. - September 26, 2025) - Heliostar Metals Ltd (TSXV: HSTR): Stonegate Capital Partners initiates their coverage on Heliostar Metals Ltd (TSXV: HSTR). The Company's flagship Ana Paula project in Guerrero is a high-grade underground development asset hosting approximately 1.2 million ounces grading 5.4 g/t gold in the High-Grade Panel. Active drilling is extending the Parallel Panel and upgrading inferred ounces. A preliminary economic assessment is underway and will be followed by a feasibility study in mid-2026, with first production targeted in 2028. Ana Paula is fully permitted for open-pit mining, and the Company intends to submit an underground permit amendment in 2026. This expansion is expected to be primarily self-funded from the below mentioned producing assets.

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Key Takeaways:

• HSTR sold 8,556 GEOs at AISC US$1,541/oz, generating $27.9M in revenue with ~$30.0M in cash and no debt.
• In 2Q25, La Colorada produced 3,464 oz at low costs, while San Agustin received approval to restart mining in 4Q25.
• Ana Paula drilling advanced toward a 2026 PFS, targeting 2028 start at ~100koz/year.

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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Source: Stonegate, Inc.

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