Heliostar Announces $5 Million Non-Brokered Private Placement

Heliostar Announces $5 Million Non-Brokered Private Placement

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce a non-brokered private placement of up to 18,867,924 common shares (the "Offered Shares") at a price of $0.265 per Offered Share for gross proceeds of up to approximately $5 million (the "Private Placement").

The Company intends to use the net proceeds of the Private Placement for the commencement of drilling at Ana Paula and general working capital.

The Private Placement is scheduled to close on or about June 18, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Up to 3,773,585 of the Offered Shares (the "LIFE Portion") are expected to be offered to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106") and will not be subject a statutory hold period. Up to 15,094,340 of the Offered Shares are expected to be offered to purchasers pursuant to the accredited investor exemption under Section 2.3 of NI 45-106 and will be subject to a statutory hold period of four months and one day.

There is an offering document (the "Offering Document") related to the LIFE Portion that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.heliostarmetals.com. Prospective investors should read the Offering Document before making an investment decision.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or to U.S. Persons (as that term is defined in Rule 902(k) of Regulation S), nor shall this press release be construed to constitute such an offer or solicitation in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

Debt Financing Update

On May 7, 2024, the Company announced that it had entered into a non-binding letter of intent in respect of a senior secured debt facility (the "Debt Facility") for the aggregate principal amount of US$20 million. Closing of the Private Placement is not expected to impact the Debt Facility.

The Company anticipates the Debt Facility to be completed by the end of July, 2024.

Statement of Qualified Person

Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.

About Heliostar Metals Ltd.

Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.

The Company is focused on developing the 100% owned Ana Paula Project in Guerrero, Mexico. In addition, Heliostar is working with the Mexican government to permit the San Antonio Gold Project in Baja Sur, Mexico. The Company continues efforts to explore the Unga Gold Project in Alaska, United States of America.

Ana Paula hosts measured and indicated resources of 710,920 ounces of gold (320,204 measured and 390,716 indicated ounces) at 6.60 g/t gold and an inferred resource of 447,512 ounces of gold at 4.24 g/t gold. The asset is permitted for open-pit mining and contains significant existing infrastructure including a portal and a 412-metre-long decline.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Charles Funk
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: the intended use of proceeds of the Private Placement; the expected closing date of the Private Placement and the anticipated closing of the Debt Facility.

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.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212680

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Heliostar Announces Letter of Intent for a US$20M Gold Linked Debt Facility to Advance Ana Paula Deposit

Heliostar Announces Letter of Intent for a US$20M Gold Linked Debt Facility to Advance Ana Paula Deposit

HIGHLIGHTS:

  • Debt Facility to fund completion of the Decline, Test Mining and processing of a Bulk Sample
  • This self-funding path is an innovative means of funding the advancement of the Ana Paula Project and minimize equity dilution
  • Funding expected to be repaid within 30 months from drawdown through sale of gold from the bulk sample
  • Completion of the decline reduces future capital expenditure and future drilling costs
  • A component of the debt funding and additional cash flows generated from the Test Mining to be used for additional drilling to grow the Ana Paula resource

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to report it has entered into a non-binding letter of intent in respect of a senior secured debt facility (the "Facility") for the aggregate principal amount of US$20 million (the "Loan Amount") with an expected fixed 10% rate of interest with a syndicate of lenders led by a New York based Financial Institution (together, the "Lenders").

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Heliostar Evaluating Test Mining Scenario for Ana Paula in 2024

Heliostar Evaluating Test Mining Scenario for Ana Paula in 2024

Highlights:

  • Heliostar undertakes review of financing options to complete the existing decline and test mining of a bulk gold sample in advance of a Feasibility Study
  • Multiple scenarios show the potential to recover >20,000 ounces of gold from stopes averaging 7-10 g/t gold
  • Demonstrates a potential pathway to production from test mining within 12 months
  • The Company is assesing non-equity funding options for this program
  • Heliostar has initiated a Preliminary Economic Assessment(" PEA") planned for completion in H2, 2024
  • Continued resource growth drilling, PEA, and underground permit modifcation submission to be completed in 2024

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to provide an update on the potential to advance the underground decline and complete test mining to process a bulk sample from the Ana Paula deposit in Guerrero, Mexico.

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Heliostar Metals Files Mineral Resource Update Technical Report for the Ana Paula Project

Heliostar Metals Files Mineral Resource Update Technical Report for the Ana Paula Project

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce it filed its updated mineral resource estimate (the "Updated Mineral Resource Estimate") for the Ana Paula Project (the "Ana Paula Project") located in Guerrero, Mexico. The Updated Mineral Resource Estimate was completed by Rita Teal and Lewis Teal, Qualified Persons with Teal CPG Inc.

The technical report titled "Ana Paula Project NI 43-101 Technical Report Mineral Resource Estimate Update" (the "Report") is dated January 11, 2024, has an effective date of November 27, 2023 and supports the disclosure made by Heliostar in its November 27, 2023 press release titled "Heliostar Metals Announces Updated Mineral Resource Estimate for the Ana Paula Project, Mexico". There are no material differences in the Report from the results disclosed in Company's November 27, 2023 press release. The Report can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on Heliostar's website (www.heliostarmetals.com).

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Heliostar Announces Minor Update to Closing of Warrant Incentive Program

Heliostar Announces Minor Update to Closing of Warrant Incentive Program

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to update its disclosure regarding the closing of its warrant exercise incentive program (the "Incentive Program"). Capitalized terms used but not defined in this news release have the meanings given to them in the Company's news release dated December 11, 2023.

An additional 18,000 Outstanding Warrants were exercised pursuant to the Incentive Program. Accordingly, the Company confirms that (a) a total of 17,599,544 common shares in the capital of the Company were issued upon the exercise of 17,599,544 Outstanding Warrants, providing aggregate gross proceeds of $5,279,863.20 to the Company, (b) a total of 5,866,504 Incentive Warrants were issued pursuant to the Incentive Program, and (c) following completion of the Incentive Program, there remains 28,764,086 Outstanding Warrants.

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Heliostar Metals Board Addition and Changes

Heliostar Metals Board Addition and Changes

Heliostar Metals Limited (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") The Board of Directors is pleased to announce the following changes and additions to its Board. We believe that these changes will provide strengthened governance while also adding depth and skills, providing clarity of responsibility and purpose for the company's next stage of growth. The board has approved the following Board and Management changes.

Heliostar Chairman, Jacques Vaillancourt commented, "The past 12 -months were transformational for the Company with the addition of Ana Paula and San Antonio projects in Mexico to the Unga project in Alaska. The management team made great strides in advancing the Company the past year. The next 12-18 months will lead Heliostar inexorably from being an exploration company, to a development company with an exciting portfolio of exploration projects. This growth requires additional governance, depth, skills, judgement, discipline and clarity of purpose which we believe these changes will help ensure."

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SAGA Metals Announces Assay Results from Radar Titanium-Vanadium Project

SAGA Metals Announces Assay Results from Radar Titanium-Vanadium Project

Key Assay Highlights:

  • Total Samples Analyzed: 388 rock samples.
  • Titanium Dioxide (TiO2): 49 samples returned assay values over 4.0% TiO2, with a maximum value of 11.1%.
  • Vanadium Pentoxide (V2O5): 36 samples reported assay values over 0.2% V2O5, with a high value of 0.63%.
  • Iron (Fe): 34 samples yielded assay values over 20% Fe, with a peak of 46.7%.

Saga Metals Corp. (" TSXV: SAGA ") (" FSE: 20H" ) (" SAGA " or the " Company "), a North American exploration company focused on discovering critical minerals, is pleased to release assay results from its 2024 summer field program at the Radar Titanium-Vanadium (Ti-V) project in Labrador. The project, covering 17,250 hectares, is located approximately 10 km south of Cartwright and is road accessible, with early indications pointing to the potential for a classic layered mafic intrusive ore body.

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Lancaster Resources Provides Corporate Update

Lancaster Resources Provides Corporate Update

Lancaster Resources Inc. (CSE:LCR | OTC:LANRF | FRA:6UF0) ( the "Company" or "Lancaster") is pleased to provide a corporate update. The Company's portfolio of projects includes the Piney Lake Gold Project, Catley Lake and Centennial East Uranium Projects in Saskatchewan, the Alkali Flat Lithium Brine Project In New Mexico and the Trans-Taiga Project in James Bay, Quebec. The Company continues to review gold and critical mineral projects for acquisition.

Piney Lake Gold Project

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Brunswick Exploration Outlines Significant New Lithium Potential in Tills at Anatacau West

Brunswick Exploration Outlines Significant New Lithium Potential in Tills at Anatacau West

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; " BRW " or the " Company ") is pleased to report multiple high spodumene grain counts in till samples collected on the Anatacau West Property (the "project") which is the immediate extension of Arcadium's James Bay Lithium project. These highly encouraging results ( up to 1,225 spodumene grains in a single sample ) further reinforce lithium potential in the bedrock and delineate a new, highly prospective unexplored area at Anatacau West property (Figure 1) beyond the previously drilled pegmatites.

Figure 1 : Spodumene Grain Count at Anatacau West

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Altech Batteries Ltd  Breakthrough 55% Higher Energy Density Anodes

Altech Batteries Ltd Breakthrough 55% Higher Energy Density Anodes

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) has achieved a remarkable milestone in its Silumina AnodesTM battery material technology. The Company is delighted to announce an average 55% surge in lithium battery anode energy capacity, marking a significant breakthrough.

Highlights

- Altech achieves 55% surge in energy capacity in Li-ion batteries

- Average energy retention capacity of approximately 500 mAh/g

- Stable battery with sound cycling performance

- Follows Altech previously cracking the "silicon barrier" by achieving 30% energy increase

- Dispersion challenges limited further improvements

- Persistent R&D has now resolved these challenges

- Altech aims to revolutionise the Lithium-ion battery industry

By utilising its innovative proprietary technology, Altech has now improved on the previous 30% energy increase, by blending alumina-coated silicon particles (10%) with battery-grade graphite, to create a composite graphite/silicon anode for the lithium-ion battery electrode. Upon activation, this composite material has now exhibited a remarkable 55% increase in capacity compared to the traditional graphite-only anode material, See Figure 1.

In a series of tests, the Altech lithium-ion battery anode material exhibited an average energy retention capacity of approximately 500 mAh/g, which is significantly higher than the average of approximately 320 mAh/g for a normal lithium-ion battery anode. This represents an average of 55% increase in energy retention capacity. Importantly, the Altech Batteries demonstrated good stability and cycling performance, indicating that the technology is highly promising. Altech's technology has the potential to be gamechanging and has demonstrated that silicon particles can be modified to resolve the capacity fading caused by both the swelling and first-cycle-capacity-loss problems. Altech's Research and Development team, led by Dr. Jingyuan Liu, achieved this significant breakthrough.

Altech had previously declared a major achievement in the field of battery technology. The Company reported that it had overcome the "silicon barrier" and had manufactured and evaluated a range of lithiumion battery anode materials that exhibit a retention capacity of approximately 30% higher than the standard lithium-ion battery anode materials. Following this breakthrough, Altech's research and development laboratory in Perth, Western Australia has been striving to further enhance the technology beyond this initial success.

As the Company endeavoured to surpass the 30% retention capacity achieved in the previous generation of batteries by increasing the silicon content, it encountered challenges in dispersing the alumina-coated silicon particles. However, Altech managed to overcome these challenges by implementing improvements in organic binders, coating parameters, and several other innovative solutions. After persistent efforts, the final challenges were eventually resolved, allowing the Company to move forward with the development of the next generation of batteries.

Through laboratory testing of the composite graphite/silicon batteries, Altech was able to substantially overcome previously unresolved impediments associated with using silicon in lithium-ion battery anodes.

These impediments include silicon particle swelling, first-cycle capacity loss of up to 50%, and rapid battery degradation. Altech's testing showed that the innovative composite graphite/silicon batteries were able to overcome these challenges, by spherification of the silicon particles. The spherical structure allows the distribution of alumina-coated silicon in graphite voids, hence minimises the electrode layer damaging due to expansion, see Figure 3, and 4. By doing so, via the alumina coating, the negative impact caused by the expansion of silicon is well managed in a lithium-ion battery.

The lithium-ion battery industry has recognised the introduction of silicon in battery anodes as a crucial step in achieving a significant increase in energy density, as well as reducing costs. This is because silicon has approximately ten times the energy retention capacity of graphite, making it an ideal anode material for the next generation of lithium-ion batteries. However, until now, the use of silicon in commercial lithium-ion batteries has been limited due to two critical drawbacks. Firstly, during battery charge, silicon particles expand by up to 300% in volume, leading to particle swelling, fracturing, and eventual battery failure.

Secondly, silicon deactivates a high percentage of the lithium ions in a battery, immediately reducing battery performance and lifespan. The industry has been in a race to overcome these obstacles and crack the silicon barrier to unlock the full potential of silicon in lithium-ion batteries.

The Company completed a Definitive Feasibility Study for the construction of an 8,000tpa Silumina AnodesTM plant in Saxony, Germany, that included the following economics.

- Pre-tax NPV10 EUR684 million

- Low capital cost of EUR112 million

- Attractive Internal Rate of Return of 34%

- EBITDA EUR105 million p.a.

- Payback (full rate) 2.4 years

- Revenue per annum of EUR328 million

Altech is in a race to get its patented technology to market. To support the development, Altech has constructed a pilot plant adjacent to the proposed project site to enable the qualification process for its Silumina AnodesTM product. The Company has successfully completed the construction of the pilot plant and is now in the process of hot commissioning.

CEO and MD Mr Iggy Tan stated "We are thrilled with the significant progress we have made in overcoming the critical challenges associated with using silicon in lithium-ion battery anodes. Our breakthrough technology represents a major step forward in unlocking the full potential of silicon in lithium-ion batteries, and we believe it has the potential to revolutionise the battery industry. We are currently commissioning a pilot plant to further scale up our technology and bring it to market".

Watch Interview with Dr Jingyuan Liu
https://www.abnnewswire.net/lnk/297I4J8A



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Mawson Finland Limited Confirms 'New Lens' Continuity with Multiple Significant Intercepts as well as Expands South Palokas Mineralized Zones at Rajapalot

Mawson Finland Limited Confirms 'New Lens' Continuity with Multiple Significant Intercepts as well as Expands South Palokas Mineralized Zones at Rajapalot

Mawson Finland Limited ("Mawson" or the "Company") (TSXV:MFL) is pleased to announce new drill results from the final 13 drillholes of the 38-hole 2024 winter drilling campaign on the Company's wholly-owned Rajapalot gold-cobalt project in Finland (see Table 1 and Figure 1 in Schedule "A" hereto

Highlights:

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NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

NextSource Materials Closes Private Placement for Gross Proceeds of CAD$14.7 Million

Not for distribution to U.S. news wire services or for dissemination in the United States or to a U.S. Person.

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has closed a non-brokered private placement offering of 27,728,100 common shares of the Company ("Shares") at a price of CAD$0.53 per Share for aggregate gross proceeds of CAD$14,695,893 (the "Offering

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