Heliostar Announces Closing of the Acquisition of the Goldstrike Project in Utah

Heliostar Metals closed the acquisition of the Goldstrike gold project in Utah, paying US$10.0m cash plus 1,593,213 shares and agreeing to up to US$60.0m in staged payments over five years. The company will publish an updated technical report to support a stated Mineral Resource of 975,000 Indicated ounces at 0.46 g/t and 90,000 Inferred ounces at 0.31 g/t. Management plans resource expansion, evaluation of Antimony Ridge, and strategic options including sequencing within its project pipeline and use of special purpose vehicles. The deal bolsters Heliostar’s growth pipeline and production ambitions (500,000 oz/yr by decade-end) but is a company-level corporate development with limited near-term impact on spot gold prices (XAUUSD).