Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide Gold from 68 Metres at the La Colorada Mine, Sonora, Mexico

Heliostar Drills 56.6 Metres Grading 2.88 g/t Oxide Gold from 68 Metres at the La Colorada Mine, Sonora, Mexico

HIGHLIGHTS:

  • 56.6m grading 2.88 g/t gold from 68m
  • 23.2m grading 14.4 g/t gold from surface (including 0.85m grading 381 g/t gold)
  • 4.05m grading 17.8 g/t gold from 136m
  • 8.7m grading 6.68 g/t gold from 56m
  • 18.85m grading 3.54 g/t gold from 95m
  • Deeper drilling at the Creston Pit shows a combination of wide intervals and high grades
  • Results will be incorporated in an updated technical study for La Colorada expected to be released mid-2025
  • The focus of drilling at La Colorada will shift to stockpiles and then high-grade veins beneath and along strike from the open pits

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce additional results from an expanded 16,211 metre drilling program at the La Colorada Mine in Sonora, Mexico. La Colorada restarted production in early January 2025, and the current drill program is intended to expand the mineral reserves ahead of an updated technical report and expansion decision planned for mid-2025.

Heliostar CEO, Charles Funk, commented, "The turnaround at La Colorada has been a real strength for Heliostar. In the three months since the acquisition, the Company has restarted production and established a mine life of 6.5 years. This drill program has returned a powerful combination of wide gold intervals and high-grade veins, leading to our expanding the program to a total of 104 drill holes. The intervals reported to date are intended to drive stronger economics in an updated technical report planned for mid-2025. A new drilling program at La Colorada will now focus on defining additional mineralized material from historic stockpiles, which we believe can quickly be brought into production. We will then pivot to exploration for underground targets in the second half of the year."

Drill Results Summary

Mineralization at La Colorada's Creston Pit is predominantly hosted in three veins: the North, Intermediate and South Veins (Figure 1). These veins trend northeast-southwest to east-west, dip northward and are surrounded by halos of smaller mineralized veins. The Creston Pit has historically mined oxide gold and silver from all three of these veins. A current Probable Mineral Reserve of 312,000 ounces of gold grading 0.76 grams per tonne (g/t) gold and 5,074,000 ounces of silver at 10.1 g/t silver is defined at the Creston Pit1.

A technical review of expansion potential identified two opportunities for reserve growth, these being near surface extensions of known veins with little or no drill data and exploring the under-sampled mineralization beneath the pit. Both opportunities were defined using historical drilling, blasthole data, mining shapes, and the geological model.

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Figure 1: Plan view of the Creston Pit showing historic drilling, blast hole samples and Heliostar drillholes. Selected intercepts are labelled.

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Figure 2: Cross-section view looking west at the eastern end of the Creston Pit. The section shows historic drilling and new Heliostar drillhole results below the planned pit boundary.

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Blast hole data clearly shows the potential for the continuation of veins at shallow depths that were previously modelled as waste. They contain elevated gold grades that continue to the edge of the pit walls where they remain open for expansion (Figures 1 and 2). At depth, drill spacing is wider than the area above. Additional drilling allows for improved estimation of grade and continuity.

The Company has completed 104 holes totalling 16,211 metres in the program to date. This is an expansion on the planned 12,500 metre program. This release reports results for 25 new holes at Creston, two at Gran Central and four metallurgical holes completed at Veta Madre. The majority of the new drill holes targeted extensions of the North, Intermediate and South Veins in areas where drilling is widely spaced yet, within the current Creston resource. They aim to add ounces to the overall Creston resources and reserves.

Assay results show narrow to wide, low- to high-grade oxide gold intercepts. Targeted vein zones consistently return intercepts above the 0.16 g/t gold-equivalent cutoff grade of reserves within the Creston pit. The results may increase the tonnes and grade of mineralization in an updated pit shell. If so, that would add to total reserves in an updated technical report.

Next Steps

Results from the current drill program are being incorporated into a resource model. They will support a reserve update to be published with a technical report in mid-2025, which will include an updated mine plan on any additional economic material defined to date.

This drill program is designed to increase the volume of rock containing potentially economic gold mineralization, which, in turn, could improve the overall mine economics. Any zones currently modelled as waste but subsequently modelled as ore from this program would have the double benefit of reducing the overall strip ratio of the Creston pit expansion and adding ounces to the mine plan.

That, in-turn, could reduce the up-front capital requirements for the restart of operations and improve the IRR and NPV of the updated technical report compared to the technical report released in January 2025. This upcoming study will be the basis of an investment decision for the expansion of open pit mining production at La Colorada.

Following the successful completion of this drill program, the Company will now change the focus of drilling to test historic stockpiles. If drilling is successful, it may provide additional resources and cash flow similar to that currently being generated from the producing Junkyard reserve. The intention is to produce from these low-cost stockpiles to maximize cash flow ahead of primary mining from the open pit pushbacks.

In the second half of 2025, the focus will shift to stepping out on the high-grade vein intercepts beneath and along strike from the open pits. The results received to date provide optimism for the potential of an underground future at La Colorada (see our April 9, 2025, press release here). In addition, the Company will advance property scale exploration targets with mapping and geophysics to define drill targets beyond the currently mined areas.

Quarterly Review and Future Plans Update

The Company presented a live webinar on Tuesday, May 13th, to provide an in-depth review of Heliostar's recently reported preliminary interim results for Q1 2025.

The Company also provided a forward-looking overview of what to expect in Q2 and beyond. This included how Heliostar plans to leverage operational cash flow to boost annual gold production from its two operating mines and advance the development of the Ana Paula project.

A replay of the webinar can be found on this link.

La Colorada Mineral Reserves Statement

Classification Zone AuEq
Cut-off
(g/t)
Tonnes
(kt)
Gold Grade
(g/t Au)
Silver
Grade
(g/t Ag)
Contained
Gold 

(koz)
Contained Silver 
(koz)
Probable El Crestón 0.160 12,841 0.76 10.1 312 4,181
Veta Madre 0.175 1,905 0.70 3.1 43 189
La Chatarrera 0.164 3,413 0.20 6.4 22 704
Total
18,159 0.65 8.69 377 5,074

 

1 La Colorada Operations, Sonora, Mexico, NI 43-101 technical report (the "Report") is dated January 11, 2024, has an effective date of December 4, 2024

Diamond Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
% True
Width
Comment
24-LCDD-290 290.75 310.7 19.95 2.51 98.0 83.4 South Vein
including 301.25 306.5 5.25 5.79 115 83.4 South Vein
25-LCDD-291 1.0 13.75 12.75 0.91 14.2 100 Intermediate Vein
and 26.5 36.0 9.5 0.47 4.4 99.6 Intermediate Vein
and 40.5 46.5 6.0 0.65 3.6 99.6 Intermediate Vein
and 68.0 124.6 56.6 2.88 6.9 94.1 Intermediate Vein

68.0 124.6 56.6 2.18 6.9 94.1 Top-cut to 23 g/t Au
including 111.85 116.9 5.05 9.22 19.4 96.4 South Vein
25-LCDD-292 2.7 33.95 31.25 0.65 34.7 85.4 Intermediate Vein
and 41.75 51.0 9.25 0.23 33.6 88.7 Intermediate Vein
and 124.9 145.8 20.9 3.63 23.8 82.8 South Vein

124.9 145.8 20.9 3.03 23.8 82.8 Top-cut to 20 g/t Au
including 135.75 139.8 4.05 17.8 99.9 82.8 South Vein

135.75 139.8 4.05 14.6 99.9 82.8 Top-cut to 20 g/t Au
25-LCDD-293 48.35 55.85 7.5 1.00 5.2 77.1 Intermediate Vein
and 68.5 79.25 10.75 1.52 1.8 65.1 Intermediate Vein
and 92.0 100.7 8.7 2.41 8.4 77.8 Intermediate Vein
25-LCDD-294 0.0 15.3 15.3 0.57 28.1 100 Intermediate Vein
and 52.4 82.2 29.8 2.22 22.3 87.8 Intermediate Vein

52.4 82.2 29.8 1.62 22.3 87.8 Top-cut to 23 g/t Au
including 56.05 64.75 8.7 6.68 62.8 95.1 Intermediate Vein
including 56.05 64.75 8.7 4.63 62.8 95.1 Top-cut to 23 g/t Au
and 103.0 120.4 17.4 1.08 2.2 99.8 South Vein
25-LCDD-295 24.05 29.6 5.55 0.21 31.3 87.6 South Vein
and 35.55 38.35 2.8 0.17 28.0 85.7 South Vein
25-LCDD-296 0.0 29.3 29.3 1.08 7.2 88.9 Intermediate Vein
including 5.5 13.65 8.15 3.25 9.7 93.0 Intermediate Vein
and 59.2 84.8 25.6 0.66 4.8 80.9 Intermediate Vein
and 118.1 135.4 17.3 1.87 9.8 96.2 South Vein
including 121.8 124.8 3.0 6.73 25.4 96.2 South Vein
25-LCDD-297 29.9 46.0 16.1 0.29 17.4 85.1 Intermediate Vein
and 99.7 127.6 27.9 0.62 12.4 79.0 Intermediate Vein
25-LCDD-298 8.6 20.25 11.65 2.01 16.2 99.3 Intermediate Vein
and 77.8 119.05 41.25 1.87 4.9 98.3 South Vein
including 95.15 114.0 18.85 3.54 4.8 98.3 South Vein
25-LCDD-299 99.9 108.15 8.25 0.21 13.4 80.6 Gran Central Vein
and 114.4 118.0 3.6 0.53 19.0 80.6 Gran Central Vein
25-LCDD-300 0.0 23.2 23.2 14.4 21.8 94.5 Intermediate Vein

0.0 23.2 23.2 1.28 21.8 94.5 Top-cut to 23 g/t Au
including 9.15 10.0 0.85 381.0 167 94.5 Intermediate Vein

9.15 10.0 0.85 23.0 167 94.5 Top-cut to 23 g/t Au
and 38.0 51.65 13.65 0.93 12.7 87.6 Intermediate Vein
and 66.95 85.2 18.25 0.66 2.1 87.5 Intermediate Vein
and 104.9 116.25 11.35 1.47 1.8 91.1 South Vein
and 122.5 129.5 7.0 1.18 8.1 91.1 South Vein
25-LCDD-301 35.0 47.4 12.4 0.54 71.8
Gran Central Vein

 

Table 2: Significant Drill Intersections.

RC Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
% True
Width
Comment
24-LCRC-757 No significant results
24-LCRC-758 No significant results
25-LCRC-759 No significant results
25-LCRC-760 No significant results
25-LCRC-761 No significant results
25-LCRC-762 50.3 61.0 10.7 2.01 2.8 98.9 North Vein
including 59.5 61.0 1.5 13.3 4.0 98.9 North Vein
25-LCRC-763 138.7 144.8 6.1 0.42 18.8 100 North Vein
and 167.6 179.8 12.2 0.24 4.5 98.9 Intermediate Vein
25-LCRC-765 No significant results
25-LCRC-766 109.7 120.4 10.7 0.77 123 94.7 Intermediate Vein
25-LCRC-767 47.2 53.3 6.1 0.34 51.7 99.0 North Vein
25-LCRC-768 47.2 57.9 10.7 0.62 82.1 95.0 North Vein
25-LCRC-769 245.4 251.5 6.1 7.94 3.2 80.5 Intermediate Vein

245.4 251.5 6.1 6.36 3.2 80.5 Top-cut to 23 g/t Au
25-LCRC-770 121.9 128.0 6.1 0.47 5.9 99.1 North Vein
and 163.1 169.2 6.1 0.75 4.1 73.7 North Vein
25-LCRC-771 No significant results
25-LCRC-772 No significant results

 

Table 3: Significant Drill Intersections.

Veta Madre Metallurgical Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
% True
Width
Comment
24-LCMET-19 43.8 112.5 68.7 0.73 3.3 74.7
24-LCMET-20 108.6 118.65 10.05 1.00 1.3 69.1
and 138.5 223.75 85.25 1.14 4.3 69.1

138.5 223.75 85.25 1.01 4.3 69.1 Top-cut to 7 g/t Au
including 149.15 162.8 13.65 3.47 3.4 69.1

149.15 162.8 13.65 2.76 3.4 69.1 Top-cut to 7 g/t Au
24-LCMET-21 166.0 237.0 71 1.26 5.1 79.2

166.0 237.0 71 1.24 5.1 79.2
including 223.1 224.4 1.3 8.21 3.4 79.2
including 223.1 224.4 1.3 7.00 3.4 79.2
24-LCMET-22 185.0 247.45 62.45 0.64 6.7 67.2

 

Table 4: Significant Drill Intersections.

Drilling Coordinates Table

Hole ID Northing
(NAD27 CONUS
Zone 12N)
Easting
(NAD27 CONUS
Zone 12N)
Elevation
(metres)
Azimuth
(°)
Inclination
(°)
Length
(metres)
25-LCDD-290 542264 3185808 360.4 180 -43 318.25
25-LCDD-291 542641 3185777 182.7 180 -12 154.95
25-LCDD-292 542415 3185710 221.1 180 -49 151.65
25-LCDD-293 542775 3185810 246.0 180 -70 157.25
25-LCDD-294 542641 3185777 182.3 180 -26 132.65
25-LCDD-295 542184 3185598 381.2 215 -40 84.1
25-LCDD-296 542641 3185777 183.2 180 +2 151.25
25-LCDD-297 542425 3185721 221.1 190 -55 138.15
25-LCDD-298 542653 3185788 182.7 170 -20 129.95
25-LCDD-299 540979 3185503 420.4 180 -60 138.05
25-LCDD-300 542653 3185788 183.3 170 -3 150.85
25-LCDD-301 540997 3185454 416.5 180 -55 72.6
24-LCMET-19 543965 3185611 346.0 184 -45 126.0
24-LCMET-20 543890 3185658 418.4 163 -51 223.75
24-LCMET-21 543880 3185639 419.6 180 -47 237.0
24-LCMET-22 543890 3185659 418.4 173 -55 247.45
24-LCRC-757 542065 3185543 458.7 180 -45 128.0
24-LCRC-758 542065 3185621 455.7 180 -45 158.5
25-LCRC-759 542748 3185451 433.6 180 -45 100.6
25-LCRC-760 542750 3185390 439.7 180 -45 152.4
25-LCRC-761 543080 3185936 444.1 180 -45 195.1
25-LCRC-762 543100 3185898 442.4 175 -50 167.6
25-LCRC-763 543025 3185964 460.6 180 -45 213.4
25-LCRC-764 542214 3185673 373.9 180 -50 121.9
25-LCRC-765 542188 3185623 380.2 215 -44 85.3
25-LCRC-766 542215 3185704 371.3 168 -44 176.8
25-LCRC-767 542218 3185725 369.6 180 -55 103.6
25-LCRC-768 542222 3185726 369.5 155 -45 100.6
25-LCRC-769 542975 3185996 472.7 178 -45 256.0
25-LCRC-770 542900 3186006 476.9 180 -49 268.2
25-LCRC-771 542465 3185371 415.1 179 -45 140.2
25-LCRC-772 542465 3185311 433.0 179 -50 152.4

 

Table 5: Drill Hole Details

Quality Assurance / Quality Control

Core holes were drilled with PQ, HQ, and NQ tools and drill core was sawn in half with one half submitted for analysis and one half retained as a record. Reverse circulation (RC) holes were drilled with 5-inch and 5-1/4 inch tools. Reverse circulation samples with a mass of >20kg were split into one-quarter, which was submitted for analysis. Reverse circulation samples with a mass of ≤20kg were split into half which was submitted for analysis. Three-quarters or one-half of the samples, respectively were retained as a record. Drill samples were shipped to ALS Limited in Hermosillo, Sonora, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Hermosillo and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish, and overlimits were analyzed by 30-gram fire assay with gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.

Statement of Qualified Person

Gregg Bush, P. Eng. and Stewart Harris, P.Geo., the Company's Qualified Persons, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and have approved the disclosure herein. Mr. Bush is employed as Chief Operating Officer of the Company, and Mr. Harris is employed as Exploration Manager of the Company.

Technical Report Reference

1 La Colorada Operations, Sonora, Mexico, NI 43-101 Technical Report (the "Report") is dated January 11, 2024, has an effective date of December 4, 2024 and was prepared for Heliostar Metals Inc. by Mr. Todd Wakefield, RM SME, Mr. David Thomas, P.Geo., Mr. Jeffrey Choquette, P.E., Mr. Carl Defilippi, RM SME, and Ms. Dawn Garcia, CPG. The Report can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on Heliostar's website (www.heliostarmetals.com).

About Heliostar Metals Ltd.

Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.

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, the open pit intervals are intended to drive stronger economics in an updated technical report planned for mid-2025. Drilling at La Colorada will now be undertaken to define additional stockpile material and then we will pivot to exploration for underground targets in the second half of the year and, leverage operational cash flow to boost annual gold production from its two operating mines and advance the development of the Ana Paula project, the results received to date provide real optimism for the potential of an underground future at La Colorada.

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.

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Gold miner with a portfolio of producing and developing gold projects in Mexico.

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Highlights:

  • Mining operations to restart at the San Agustin Mine in H2, 2025, with initial production expected in Q4
  • Operations analysis supports a post-tax NPV5% of US$35.25M, IRR of 548%, CAPEX of US$4.2M and an output of 45,000 total gold ounces produced at a US$3,000/oz gold price
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TIME: 11:00am EDT
LINK: REGISTER HERE
Available for 1x1 meetings: July 24, 28 and 29

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HIGHLIGHTS:

  • 10.7m grading 1.81 g/t gold from surface
  • 19.8m grading 0.62 g/t gold from 4.6 metres
  • 13.7m grading 0.61 g/t gold from surface
  • 9.10m grading 0.87 g/t gold from surface
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  • Definition of stockpiles ongoing at La Colorada with next drilling planned at El Dorado

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  • Preliminary interim consolidated cash costs of US$1,175-1,275 per GEOs sold and consolidated all-in sustaining costs ("AISC") of US$1,375-1,475 for Q1 2025. The Company is on track to achieve its annual cash cost guidance range of US$1,800-1,900 per GEOs sold and AISC of US$1,950-2,100 per GEOs sold
  • Average sale price of US$2,875 per ounce of gold for Q1 2025
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Additions to Heliostar Metals Management Team

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce that it has appointed Mr. Stephen Soock as Vice President of Investor Relations and Development and Ms. Connie Lillico as Corporate Secretary.

Heliostar CEO, Charles Funk, commented, "We are delighted to add Stephen and Connie to our team as we continue to build our capacity. Stephen brings his understanding of institutional banking, sales and project knowledge from his role as an analyst at Stifel. He will lead the Company's investor relationships and contribute to Heliostar's strategy for production growth and reduction in our cost of capital. Connie brings a wealth of experience, having helped shepherd First Majestic from an ambitious junior to stable producer. She will lead the Company's regulatory responsibilities in her role as Corporate Secretary. I would also like to thank Ms. Sheryl Dhillon for her diligent, professional long-term service to the Company as our Corporate Secretary."

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Lode Gold Completes Final Tranche Financing for Total $1.51 Million

Lode Gold Completes Final Tranche Financing for Total $1.51 Million

Lode Gold Resources Inc. (TSXV: LOD,OTC:LODFF) (OTCQB: LODFF) ("Lode Gold" or the "Company") is pleased to announce that it has completed the third and final tranche of its previously announced non-brokered private placement offering for $1 million. In this final tranche, the Company has raised an additional $326,780 through the issuance of 1,815,446 Units at a price of $0.18 per Unit. The Company has now raised a total of $1,513,768 through the issuance of 8,409,825 Units.

Each $0.18 unit consists of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share for a period of three years following the date of closing.

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Quimbaya Gold Starts Drilling at Tahami South, Testing Undrilled Gold System Beside Aris' Segovia Mine

Quimbaya Gold Starts Drilling at Tahami South, Testing Undrilled Gold System Beside Aris' Segovia Mine

The 4,000m drilling campaign aims to unlock district-scale potential by testing a possible extension of Aris' producing vein system in Colombia's premier high-grade gold corridor

Quimbaya Gold Inc. (CSE: QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya" or the "Company") is pleased to announce the commencement of its inaugural diamond drill campaign at the 100%-owned Tahami South Project in Antioquia, Colombia. The fully permitted 4,000-meter program marks Quimbaya's transition from surface exploration to drill-testing in one of the country's most prolific gold-producing districts.

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Pinnacle Closes Oversubscribed Non-Brokered Private Placement

Pinnacle Closes Oversubscribed Non-Brokered Private Placement

(TheNewswire)

VANCOUVER, BRITISH COLUMBIA, August 7, 2025 TheNewswire - (TSXV: PINN,OTC:NRGOF, OTC: PSGCF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to announce that, further to Company news releases of July 14 and 25, 2025, it has closed its non-brokered private placement to raise gross proceeds of $1,686,608 (the "Offering").  Due to strong investor demand, the Offering was oversubscribed and now consists of 28,110,134 units (the "Units"), with each Unit, priced at $0.06, comprising one common share ("Share") in the capital of the Company and one-half share purchase warrant ("Warrant").  Each whole Warrant shall be convertible into an additional Share at an exercise price of $0.10 for a period of 24 months from the date of issuance.  Finder's fees consisting of $20,622 in cash commission and 343,700 non-transferable finder's warrants were paid in connection with the offering.  Each finder's warrant entitles the holder to acquire one common share at $0.10 cents per share over a 24-month period.

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LaFleur Minerals Provides Swanson Drilling Update, Acquires Key Swanson Claim, and Files Updated NI 43-101 Technical Report

LaFleur Minerals Provides Swanson Drilling Update, Acquires Key Swanson Claim, and Files Updated NI 43-101 Technical Report

LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to announce that to date, seven (7) diamond drill holes totaling 1,764 metres have been completed at its Swanson Gold Project ("Swanson") since drilling commenced in early July (Figure 1). Three (3) of these holes have been sampled, sawn, and sent to the assay laboratory for analysis, with final results expected in the coming weeks. The Swanson Gold Project is particularly well positioned as it lies in the heart of the Abitibi Greenstone Belt near Val-d'Or, Québec, a globally renowned gold district.

Drilling is currently focused on the northern part of the Swanson Gold Project near the Swanson Gold Deposit, which hosts an Indicated and Inferred Mineral Resource Estimate. These regional exploration holes are testing geological, geophysical, and geochemical targets up to 3 km from the Swanson Gold Deposit and along strike of a major structural break. Visual core logging suggests that several of the completed holes intersected geological features similar to those hosting known mineralization at the Swanson Gold Deposit.

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Sranan Gold Trenching Encounters 36.7 Grams/Tonne Gold over 5 Metres, 150 Metres South of Randy's Pit at the Tapanahony Project in Suriname

Sranan Gold Trenching Encounters 36.7 Grams/Tonne Gold over 5 Metres, 150 Metres South of Randy's Pit at the Tapanahony Project in Suriname

Sranan Gold Corp. (CSE: SRAN) (FSE: P84) (Tradegate: P84) ("Sranan" or the "Company") announces three channel samples with an apparent width of 5 metres that averaged 36.7 gramstonne (gt) gold were sampled in trench 25RACH-001, the first trench of an ongoing trenching program at the Tapanahony Project in Suriname.

This initial trench is located 150 metres south of Randy's Pit, which is the largest artisanal mine within the Tapanahony Project. The previously announced high-grade grab samples from underground workings within Randy's Pit (76.6 g/t and 23.7 g/t gold - see news release dated July 31, 2025) are located approximately 350 metres to the north.

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1911 Gold Intersects 5.52 g/t Au over 6.50 m and 54.00 g/t Au over 0.50 m on SAM Southeast Zone at True North

1911 Gold Intersects 5.52 g/t Au over 6.50 m and 54.00 g/t Au over 0.50 m on SAM Southeast Zone at True North

1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB,OTC:AUMBF) (OTCBB: AUMBF) (FRA: 2KY) is pleased to announce the assay results from ten (10) drill holes for 3,079.0 metres ("m") from the ongoing surface drill program at the True North Project. The True North project, including a permitted mill, camp, and tailings facility, is centrally located within the Company's 100%-owned Rice Lake Gold property in southeast Manitoba, Canada .

Highlights:

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