January 06, 2026 4:26 PM EST | Source: Reportable, Inc.\n\nDallas, Texas--(Newsfile Corp. - January 6, 2026) - Heliostar Metals Ltd (TSXV: HSTR): Stonegate Capital Partners updates their coverage on Heliostar Metals Ltd (TSXV: HSTR). Flagship Project: Heliostar continued to advance its flagship Ana Paula project in Guerrero as a high-grade underground development asset, now highlighted by a positive PEA released in early 4Q25. The study outlines total recovered production of ~875,000 ounces over a nine-year mine life, with mill feed averaging 5.37 g/t gold and a 1,800 tpd underground operation producing roughly 101 koz per year at cash costs of ~US$923/oz and AISC of ~US$1,011/oz. At US$2,400/oz gold, the PEA delivers a post-tax NPV5 of US$426M, a 28% IRR, and a 2.9-year payback, with strong leverage to higher
gold prices. Management is progressing engineering, metallurgical work, and a 15,000m drill program to upgrade Inferred resources, extend the High-Grade and Parallel panels, and support a Feasibility Study targeted for mid-2026, with first underground production still expected in 2028.\n\nTo view the full announcement, including downloadable images, bios, and more, [click here](https://api.newsfilecorp.com/redirect/B52VXUzKvw)\n.\n**Key Takeaways:**\n\n* Mining operations restarted at San Agustin, adding 45,000 ounces\n* Cerro del Gallo PFS show a base case NPV at $424.0M\n* Oxide targets drilling program underway with 37 holes completed and submitted foranalysis\n\n[Cannot view this image? Visit: https://images.newsfilecorp.com/files/7294/279662_figure1.png](https://api.newsfilecorp.com/redirect/EZPjVfaDEk)\n\n_Click image above to view full announcement._\n\n\nReady to Announce with Confidence?\n==================================\n\nSend us a message and a member of our TMX Newsfile team will contact you to discuss your needs.\n\n[Contact Us](https://www.newsfilecorp.com/contact.php)\n\nSource: [Stonegate, Inc.](https://api.newsfilecorp.com/redirect/LqDBQTnWE8)
