Heliostar Reports Multiple Stockpile Assays Including 10.7m of 1.81 g/t Gold at La Colorada Mine

Heliostar Reports Multiple Stockpile Assays Including 10.7m of 1.81 g/t Gold at La Colorada Mine

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
  • Additional drilling success at the Truckshop stockpile fits La Colorada's strategy to maximize cashflow ahead of pit expansions
  • Definition of stockpiles ongoing at La Colorada with next drilling planned at El Dorado

Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce results from the Truckshop stockpile at its operating La Colorada Mine in Sonora, Mexico. This is part of an ongoing drilling program across multiple targets at the mine. La Colorada has been profitably producing precious metals from stockpiles through the first half of 2025.

Heliostar CEO, Charles Funk, commented, "We continue to build the future for the La Colorada Mine with a plan to maximize cashflow from low-to-no capex stockpiles and use that capital to expand the Veta Madre, then the Creston pits. Today's results are another example of these tactical opportunities that the Heliostar team continues to find to optimize our operations. Further metallurgy and design work is required before we move forward, but we expect the Truckshop stockpile to provide additional incremental cash flow at La Colorada."

Drill Results Summary

The Truckshop stockpile was deposited as a waste dump in the 1990s when La Colorada was operated by Eldorado Gold Corporation. It is located only 400 metres from the mine's crushing circuit. Production records suggested that some of this material could be at a grade that is potentially economic in the current gold price environment. This provides a production bridge prior to higher-grade production from the Veta Madre and Creston pits.

Having current production from the Junkyard stockpile, the Company is well placed to assess the economics of the various dumps at La Colorada. With this information, drilling of 35 holes was undertaken into the Truckshop stockpile (Figure 2) to ascertain if it has the same potential as the Junkyard.

A total of 26 separate drillholes in the waste dump returned significant widths with grades in excess of the 0.164 g/t gold-equivalent1 cut-off grade used for the Junkyard. Zone A, an easily accessible portion of the stockpile with consistently higher-grade intercepts, could be accessed quickly and added to the production profile for La Colorada (Figure 2). Zone B contains lower grades, or mineralization beneath low grade material that may be less economically viable to re-process.

The Truckshop stockpile is also underlain in parts by historic tailings, which are typically higher grade where drilled. Metallurgical assessment has not yet been completed, and assay results from these historic tailings have not been included in this release.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/256574_ccfc60ab54b0592f_003.jpg

Figure 1: Aerial view of La Colorada showing pits, stockpiles and selected infrastructure.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/256574_ccfc60ab54b0592f_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7729/256574_ccfc60ab54b0592f_004.jpg

Figure 2: Isometric view of Truckshop Stockpile with drilling shown and selected results labelled.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/256574_ccfc60ab54b0592f_004full.jpg

Next Steps

Results from the drill program are being incorporated into an internal resource model that will not be included in the upcoming La Colorada technical report.

The Company is undertaking metallurgical analyses, including bottle roll tests and column leach tests. Should the results of that program provide positive results, Heliostar will complete a mine plan with a view to proceeding with extraction and processing later this year.

Following the successful completion of this drill program, the Company will now change the focus of drilling to test the larger El Dorado stockpile (Figure 1). If that 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 cashflow ahead of primary mining from the open pit pushbacks.

Following the completion of the full stockpile drill program, the focus of drilling 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.

Truckshop Zone A Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
25-LCWD-068 0.0 10.7 10.7 1.81 9.8
25-LCWD-069 1.5 21.3 19.8 0.30 14.2
25-LCWD-070 0.0 13.7 13.7 0.61 10.2
25-LCWD-071 0.0 12.2 12.2 0.24 6.5
25-LCWD-072 0.0 10.7 10.7 0.33 9.3
25-LCWD-073 1.5 10.7 9.1 0.39 18.1
25-LCWD-076 3.0 13.7 10.7 0.34 6.2
25-LCWD-077 7.6 21.3 13.7 0.30 14.1
25-LCWD-078 13.7 21.3 7.6 0.54 13.6
25-LCWD-079 4.6 24.4 19.8 0.62 32.4
25-LCWD-080 6.1 13.7 7.6 0.44 11.0
25-LCWD-081 0.0 9.1 9.1 0.86 9.9
25-LCWD-082 0.0 12.2 12.2 0.32 14.9
25-LCWD-083 0.0 4.6 4.6 0.14 13.7
25-LCWD-084 0.0 10.7 10.7 0.31 9.9

 

Table 1: Significant Drill Intersections from Zone A.

Truckshop Zone B Drilling Results Table

HoleID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Ag
(g/t)
25-LCWD-057 15.2 50.3 35.1 0.19 5.3
25-LCWD-058 33.5 47.2 13.7 0.21 8.1
25-LCWD-059 35.1 45.7 10.7 0.16 18.0
25-LCWD-060 12.2 21.3 9.1 0.14 8.6
and 32.0 45.7 13.7 0.36 8.1
and 51.8 62.5 10.7 0.28 15.1
25-LCWD-061 27.4 47.2 19.8 0.42 5.4
25-LCWD-062 No Significant Results
25-LCWD-063 No Significant Results
25-LCWD-064 No Significant Results
25-LCWD-065 No Significant Results
25-LCWD-066 16.8 25.9 9.1 0.15 6.2
25-LCWD-067 No Significant Results
25-LCWD-074 4.6 10.7 6.1 0.17 7.6
25-LCWD-075 No Significant Results
25-LCWD-085 3.0 9.1 6.1 0.21 10.2
25-LCWD-086 No Significant Results
25-LCWD-087 Assays Pending
25-LCWD-088 12.2 25.9 13.7 0.24 10.9
25-LCWD-089 16.8 36.6 19.8 0.17 9.0
25-LCWD-090 18.3 27.4 9.1 0.27 8.7
25-LCWD-091 No Significant Results

 

Table 2: Significant Drill Intersections from Zone B.

Drilling Coordinates Table

Hole ID Northing
(NAD27 CONUS

Zone 12N)
Easting
(NAD27 CONUS

Zone 12N)
Elevation
(metres)
Azimuth
(°)
Inclination
(°)
Length
(metres)
25-LCWD-057 3185752 542005 478.1 0 -90 71.6
25-LCWD-058 3185681 542003 480.1 0 -90 59.4
25-LCWD-059 3185666 541970 479.9 0 -90 59.4
25-LCWD-060 3185770 541970 476.2 0 -90 73.2
25-LCWD-061 3185754 541934 475.6 0 -90 70.1
25-LCWD-062 3185647 541870 469.6 0 -90 30.5
25-LCWD-063 3185665 541830 444.2 0 -90 19.8
25-LCWD-064 3185710 541831 445.2 0 -90 27.4
25-LCWD-065 3185745 541836 445.6 0 -90 36.6
25-LCWD-066 3185782 541857 448.3 0 -90 48.8
25-LCWD-067 3185630 541828 447.0 0 -90 13.7
25-LCWD-068 3185839 541759 421.3 0 -90 29.0
25-LCWD-069 3185770 541764 428.5 0 -90 27.4
25-LCWD-070 3185735 541767 429.9 0 -90 25.9
25-LCWD-071 3185700 541768 430.8 0 -90 15.2
25-LCWD-072 3185890 541865 417.6 0 -90 21.3
25-LCWD-073 3185860 541830 422.6 0 -90 27.4
25-LCWD-074 3185602 541795 447.7 0 -90 15.2
25-LCWD-075 3185572 541794 449.4 0 -90 15.2
25-LCWD-076 3185683 541792 441.9 0 -90 24.4
25-LCWD-077 3185717 541801 438.6 0 -90 27.4
25-LCWD-078 3185752 541799 434.0 0 -90 33.5
25-LCWD-079 3185787 541795 430.4 0 -90 33.5
25-LCWD-080 3185832 541795 427.0 0 -90 32.0
25-LCWD-081 3185867 541795 421.1 0 -90 27.4
25-LCWD-082 3185885 541829 419.8 0 -90 25.9
25-LCWD-083 3185921 541831 411.3 0 -90 21.3
25-LCWD-084 3185922 541865 413.0 0 -90 22.9
25-LCWD-085 3185629 541761 435.2 0 -90 15.2
25-LCWD-086 3185780 541832 441.6 0 -90 41.1
25-LCWD-087 3185831 541865 434.7 0 -90 39.6
25-LCWD-088 3185819 541826 432.2 0 -90 35.1
25-LCWD-089 3185752 541873 461.2 0 -90 51.8
25-LCWD-090 3185717 541875 462.8 0 -90 45.7
25-LCWD-091 3185629 541790 443.3 0 -90 19.8

 

Table 3: Drill Hole Details

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

 

2 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

Quality Assurance / Quality Control

Reverse circulation (RC) holes were drilled with 5-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 two halves, one of 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 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.

Footnotes

1 The AuEq cut-off for La Chatarrera is 0.164 g/t AuEq based on metal prices of US$1,900/oz Au, and US$23/oz Ag, processing costs of US$4.82/t, general and administrative costs of US$1.15/t, refining and selling costs of US$0.66/t, gold recovery of 66% and a silver recovery of 27%. The AuEq calculation uses the formula AuEq = (Au + Ag/equivalency factor) where equivalency factor = ((Au price in US$/g * Au recovery) / (Ag price in US$/g * Ag recovery)).

2 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 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, further metallurgy and design work is required before we move forward, but we expect the Truckshop stockpile to provide additional incremental cash flow at La Colorada. Heliostar will complete a mine plan with a view to proceeding with extraction and processing later this year. The intention is to produce from these low-cost stockpiles to maximize cashflow ahead of primary mining from the open pit pushbacks. Following the completion of the full stockpile drill program, 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. In addition, the Company will advance property scale exploration targets with mapping and geophysics to define drill targets beyond the currently mined areas.

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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Heliostar Metals (TSXV:HSTR)

Heliostar Metals


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

Stonegate Capital Partners Initiates Coverage on Heliostar Metals Ltd

Stonegate Capital Partners Initiates Coverage on Heliostar Metals Ltd

Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF): Stonegate Capital Partners initiates their coverage on Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF). 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 gt 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.

To view the full announcement, including downloadable images, bios, and more, click here.

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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Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce that it has been approved for graduation from Tier 2 to Tier 1 issuer status on the TSX Venture Exchange (the "TSXV") effective September 12, 2025.

The TSXV classifies issuers into different tiers based on various factors, including financial performance, stage of development, and available resources. Tier 1 is the TSXV's highest designation and is reserved for more advanced companies with significant financial resources. This upgrade signifies Heliostar's continued growth and its commitment to providing long-term value for its shareholders.

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Q2 2025 Quarter Highlights

  • Q2 2025 production of 7,396 Gold Equivalent Ounces (GEOs)
  • Q2 2025 sales of 8,556 GEOs
  • Consolidated cash costs of $1,413 per GEO sold and consolidated all-in sustaining costs ("AISC") of $1,541 for Q2 2025
  • The Company is on track to achieve its annual sales guidance of 31,000 to 41,000 GEOs, annual cash cost of $1,800-1,900 per GEO sold and AISC of $1,950-2,100 per GEO sold for 2025
  • Mine operating earnings of $14.3M in Q2 2025
  • Closing the quarter with $29.7M in cash, $51.7 million in working capital and no debt

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") today reported unaudited financial results for the three months ended June 30, 2025 ("Q2 2025"), which corresponds to the first quarter of Heliostar's fiscal reporting year 2025. Results are presented in US dollars, unless stated.

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HIGHLIGHTS:

  • 30.20m grading 6.29g/t gold from 195.8m
  • 14.75m grading 13.6g/t gold from 153.5m
  • 20.95m grading 6.67g/t gold from 113.5m
  • 12.20m grading 8.72g/t gold from 344.5m
  • Consistent gold mineralization at the western end of the High Grade Panel
  • First results from a 15,000 metre program continuing throughout 2025

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce its first results from the current 15,000 metre drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.

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  • 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
  • Restart provides confidence for the first significant Heliostar investment into the future of San Agustin, aimed at extending mine life
  • Drilling will commence immediately in H2, 2025, on oxide expansion targets, followed by sulphide porphyry/breccia exploration

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce the restart of mining operations at San Agustin, located in the state of Durango. Heliostar presently produces gold from residual leaching at the San Agustin Mine. The Company will increase production by mining the mineral reserve, principally in an area the Company describes as the Corner Area. This is a key milestone to unlock increased value from San Agustin.

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(TheNewswire)

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Locksley Resources Limited  Advances Multiple Antimony and REE Workstreams

Locksley Resources Limited Advances Multiple Antimony and REE Workstreams

Perth, Australia (ABN Newswire) - Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is pleased to provide a market update on activities across the Mojave Critical Minerals Project in California, where the Company is rapidly advancing numerous parallel workstreams.

Highlights

- Plan of Operations approval for upsized drilling program at Desert Antimony Mine (DAM), subject to receipt of bond

- Locksley has secured a drill contractor for El Campo rare earths drilling in Q4 and is in the process of finalising the expanded drill programactivities and timeline at DAM

- Lidar surface and underground survey completed at DAM, providing detailed 3D mapping of adits and stopes to guide drill targeting and mine design

- Underground sampling program planned at DAM to validate historical grades and support resource definition

- Regional exploration advancing across newly acquired claims, extending coverage to over 40 sq km of the Mojave corridor

- Multiple parallel workstreams reinforce Locksley's fast-track mine-tomarket strategy for U.S. antimony supply

Locksley has received approval from the Bureau of Land Management (BLM) expanding the Plan of Operations for the Desert Antimony Mine, which will become effective upon completion of the bond payment and receipt of a letter from the BLM that the bond has been accepted, this process is underway.

Following the announcement on 15th September, which outlined a significant enlargement of the exploration program at the Desert Antimony Mine ("DAM"), Locksley has moved quickly to initiate onground activities across the broader Mojave Project.

Exploration Workstreams

- Drilling: Locksley has secured a drilling contractor for the upcoming exploration program planned for Q4 2025. The drilling at the El Campo rare earths project is designed to target the steeply dipping, structurally controlled mineralised horizon in five locations along the interpreted 860m long NW-SE striking El Campo 'lode'. This lode hosts elevated REE, as delineated from high-grade rock chip sampling conducted during 2023. The first planned drillhole is designed to target the down-plunge El Campo outcrop dipping to the SW.

- LiDAR Surveying - DAM: A comprehensive LiDAR survey of underground adits and stopes has been completed, providing data to inform both program drilling design and future mine planning.

The underground LiDAR survey will expand Locksley's knowledge of historic antimony production. It will also provide a 3D wireframe model of the historic underground mine, which will assist with future drill targeting aiming to delineate un-mined high-grade antimony mineralisation along strike from the historic stopes. The LiDAR survey team deployed an Elios 3 with the Rev7 LiDAR payload to map the internal spaces of the underground mine, while the team also operate the DJI M350 RTK drone equipped with the L2 LiDAR payload to capture imagery for surface mapping.

The dataset will enable the contractors to accurately integrate and geospatially align all underground scans, ensuring a comprehensive and precise 3D model of the Desert Antimony mine site.

- Underground Sampling - DAM: Systematic sampling of underground workings at DAM will commence in the near term, designed to further evaluate grade continuity and confirm historical production records.

An adit located ~50m to the south-east of the historic Desert Antimony smelter will be used to conduct UG mapping and sampling which will progress Locksley's understanding of subsurface stibnite bearing quartz-carbonate vein orientation, grade and continuity. Two stopes crosscutting the main orientation of the adit still contain timber beams and ladders that were used for mining during the late 1920's and 1930's.

Evidence of sheeted massive to semi-massive stibnite bearing quartz-carbonate veining is observed to be dipping sub-vertically to the west and north-west and run parallel to the orientation of the stopes.

- Broader Exploration Activities:

o Field sampling: Regional reconnaissance and claim wide sampling will commence later this month, extending coverage across the newly acquired tenure and prospective corridors.

o Geophysics: Locksley is currenting reviewing the optimal geophysical methods to evaluate its expanded land position. Technics including airborne magnetic, radiometric surveys, Induced polarization, gravity survey and passive seismic are being evaluated. Airborne geophysics has the potential to provide additional REE anomalies that may be associated with REE-bearing carbonatite intrusions, similar to the Mountain Pass REE deposit.

o Stream sediment and rock chip sampling: Wide-spread regional stream sediment and rock chip sampling are planned across the entire North-western Block, South Block, and areas of the newly expanded North Block using coarse fraction stream sediment sampling methodology. Ongoing mapping coinciding with outcrop rock sampling will also assist in providing potential REE, antimony and base metal geochemical anomalies within the Mojave Project's land tenure.

Kerrie Matthews, Chief Executive Officer of Locksley Resources, commented:

"Since commencing as CEO, my focus has been on advancing Mojave through multiple, parallel workstreams. The exploration team is rapidly progressing technical programs, from securing a drill rig to underground sampling and Lidar surveys at the Desert Antimony Mine. With the Plan of Operations now approved pending bond finalisation, we are commencing activities to prepare for the initial drilling at the El Campo REE target. The team and I are extremely focused on our fast-track mine-to-market strategy and it positions Locksley to deliver near-term U.S. antimony supply into critical defense and energy supply chains."



About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials' claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic "Desert Antimony Mine", which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley's North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

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Locksley's Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

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