HIGHLIGHTS:

• Production guidance of 50,000-55,000 oz gold
• Cash Costs of $1,850-$1,950/oz gold and All In Sustaining Costs of $2,025-$2,125/oz gold
• Pre-stripping of Veta Madre open pit expansion at La Colorada
• $27M exploration program funded from operating cash flow

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to provide production and cost guidance for 2026 as well as details of growth plans across the portfolio. The Company plans to produce 50,000-55,000 ounces of gold at by-product cash costs of $1,850-$1,950oz gold and a consolidated All-In Sustaining Cost (AISC) of $2,025-$2,125oz gold. Heliostar will utilize the cash generated from ongoing operations to continue to invest in exploration and growth initiatives across the Company’s portfolio, including advancement of the flagship Ana Paula development project towards production.

1. Cash costs and AISC are non-GAAP measures. Please refer to the ‘Non-GAAP Financial Measures’ section of this news release for further information on this measure.
2. AISC is based on the World Gold Council definition.
3. Mine site AISC includes only the portion of corporate G&A allocated to the operating mines. Consolidated G&A includes the aforementioned corporate G&A allocated to the operating mines plus all corporate stock-based compensation.
4. Annual average exchange rate from all costs based on Mexican peso to US dollar (18 pesos per one dollar).

The La Colorada mine (‘La Colorada’) will continue to produce metals from processing Junkyard and other stockpiles with a focus on additional re-leaching opportunities at the operation. The San Agustin mine (‘San Agustin’) successfully resumed mining operations in December 2025 (see the press release dated December 17, 2025) and will continue mining, crushing, stacking and leaching activities to produce gold and silver through 2026 and beyond.

La Colorada

In 2026, the Company expects to produce 20,000-22,300 ounces of gold at an AISC of $1,775-$1,875 per ounce of gold. This will come from crushing and stacking stockpiles, including the Junkyard Stockpile ore, a portion of the Truckshop Stockpile and re-leaching opportunities.

Development of the Veta Madre open pit expansion project is planned to commence in early Q3. The Company plans to conduct pre-stripping of 11 million tonnes of waste in 2026 to access the 43,000 ounces of in-situ gold in reserves at Veta Madre starting in the first half of 2027. This is a key growth initiative that will drive increased production at the mine in 2027.

De-risking drilling of Veta Madre and Veta Madre Plus (a planned cutback and possible expansion, respectively) is ongoing. The results of this program will provide technical information for a refined pit design and may lead to additional mineral reserves. Heliostar has also budgeted for regional exploration beyond the main mine trend at La Colorada with the aim of unlocking the full geologic potential of the larger, under-explored land package. In addition, the Company has planned for a dedicated drill program in the second half of 2026 to investigate the underground potential below the existing open pits at La Colorada. Heliostar intends to invest up to $5.8M in resource development and exploration activities at La Colorada in 2026.

San Agustin

After successfully restarting open pit production in December 2025, the operation will produce at steady state through 2026 and beyond. The Company expects the mine to produce 30,000-32,700 ounces of gold at a site-level, by-product AISC of $2,150-$2,250 per ounce of gold. The increase in cost compared to that shown in the January 2025 Feasibility Study is driven by general inflation, higher contractor mining costs and allocation of corporate general and administrative costs.

Drilling focused on expanding the oxide reserves at the Corner Area and around the existing open pit is ongoing, with 13,000 metres budgeted in 2026. In addition, Heliostar has planned up to 5,000 metres of drilling to investigate the high-grade portions of the large, polymetallic sulphide deposit that sits both adjacent to and beneath the oxides currently being mined. Further, $2.0M has been earmarked for exploration of Heliostar’s claims across the district, including early-stage exploration of the silver-rich Consejo veins mapped at surface. The Company plans to invest up to $9.7M through this year to unlock the full geologic potential of the property.

Ana Paula

The ongoing 20,000 metre infill and expansion drill program at Ana Paula will continue through Q1 2026. Given the success to date, an additional 6,500 metres have been approved to continue to upgrade inferred material currently in the Preliminary Economic Assessment mine plan. Heliostar has commenced work to complete a Feasibility Study for Ana Paula, scheduled to be completed in the first half of 2027. This important milestone will fully define the construction and operating plans to develop a 100k ounce per year gold mine.

Heliostar plans to continue to advance the existing 412 metre production-scale decline into the Ana Paula deposit in 2026. This work is planned to start in Q3 and is part of a broader de-risking and early works program to support production at the mine in the second half of 2028. The completion of the decline will also provide a platform for underground drilling to continue to expand the Ana Paula deposit at depth and explore for the causative intrusion and potential mineralized contact skarn deposit.

In addition, $1.5M has been budgeted for early-stage, regional exploration at Ana Paula. This includes a drone magnetics survey, ground-based gravity survey, property-wide soil sampling and geologic mapping. The Ana Paula project sits on a largely unexplored 56,334ha land package – one of the largest in the prolific and highly prospective Guererro Gold Belt. In total, Heliostar plans to invest $6.6M in resource development and regional exploration at Ana Paula in 2026, in addition to the $15.0M required to extend the decline.

Other Properties

At Cerro del Gallo, Heliostar is advancing permitting discussions alongside active engagement with the local communities and social benchmarking surveys. The Company’s workplan includes an update of the geologic model to allow flotation trade-off testing, further metallurgical test work of the sulphide portion of the deposit and hydrological data collection.

Unga and San Antonio will see modest exploration and metallurgical programs, respectively.

The total planned exploration, development and study expenditure for these properties is $4.9M.

Statement of Qualified Persons

Gregg Bush, P.Eng., 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. Mr. Bush is employed as Chief Operating Officer of the Company.

Non-GAAP Financial Measures

Management believes that the reported non-GAAP financial measures will enable certain investors to better evaluate the Company’s performance, liquidity, and ability to generate cash flow. These measures do not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these measures differently. Additional details of the Company’s calculation of Cash Costs and All-In Sustaining Costs can be found in the most recent MD&A.

About Heliostar Metals Ltd.

Heliostar is a gold producer with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and 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.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

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 Company’s plans, prospects and business strategies; the Company’s guidance on the timing and amount of future production and its expectations regarding the results of operations; the completion of additional studies, including and the Feasibility Study for Ana Paula; exploration and metallurgical programs; and expectations for other economic, business, and/or competitive factors.

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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Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to announce the completion of its non-brokered private placement (the ‘Offering’) previously announced on December 24, 2025. 2176423 Ontario Ltd., a company beneficially owned by Eric Sprott, purchased an aggregate of C$6,999,960 of the Offering. The Offering consisted of a total of 13,636,300 units of the Company (the ‘Units’) at a price of C$1.10 per Unit for gross proceeds of C$14,999,930. Each Unit consisted of one common share of the Company (each, a ‘Common Share’) and one-half of one Common Share purchase warrant (each whole warrant, a ‘Warrant’). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of C$1.50 per Common Share until January 8, 2028.

Andrew Pollard, Blackrock’s President and Chief Executive Officer, commented: ‘Supported by Eric Sprott and a new cornerstone investor, this $15 million financing meaningfully strengthens our balance sheet as we advance Tonopah West toward development. As an emerging American silver developer, we are accelerating permitting and de-risking initiatives in 2026 to support the advancement of a secure, high-quality domestic source of silver for the U.S. market.’

The net proceeds of the Offering are intended to be used by the Company to fund exploration, permitting and pre-development activities on the Company’s Tonopah West project and for general working capital.

In connection with the closing of the Offering, the Company paid Research Capital Corporation (the ‘Finder‘) finder’s fees in cash totalling C$689,997 and issued to the Finder a total of 627,270 non-transferable finder’s warrants (‘Finder’s Warrants‘) in connection with the Units placed by the Finder. Each Finder’s Warrant entitles the holder thereof to acquire one Common Share at an exercise price of C$1.50 until January 8, 2028.

The participation of Eric Sprott in the Offering constituted a ‘related party transaction’, within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (‘MI 61-101‘). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the interested parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).

The Common Shares, Warrants and Finder’s Warrants issued in connection with the Private Placement and the Common Shares issuable upon exercise of the Warrants and Finder’s Warrants are subject to a hold period expiring on May 9, 2026.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the net proceeds from the Offering and the intended use of proceeds therefrom; the advancement of the Tonopah West project towards development, including the acceleration of permitting and de-risking initiatives at the Tonopah West project; and the intention for the Tonopah West project to function as a future secure, high-quality domestic source of silver for the U.S. market.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market, political, economic and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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