..and the market rewarded them with a 10% reduction in their Market Cap yesterday…go figure.

Remember FCF x FCF multiple, add to Market Value.  So with a modest multiple of 3, that’s 270 million.  Total Market Cap now is 692 million.  So, they potentially added 40% of their market cap yesterday, but were rewarded with a 10% reduction in NAV…crazy times.

32,000 ounces x 2800 margin = 89.6 million in FCF.

Vancouver, Canada, February 5, 2026 – Heliostar Metals Ltd. (TSX.V: HSTR, OTCQX: HSTXF, FRA: RGG1) (“Heliostar” or the “Company”) is pleased to announce that the first official gold pour from restarted mining operations at the Company’s 100% owned San Agustin mine occurred in late January 2026.

As announced on December 18, 2025, the Company resumed mining, crushing and stacking of new ore on the leach pad in Q4 2025. We completed the restart on time and on budget. The operation continues to ramp up successfully and has exceeded internal targets for ore mining rates and recoverable ounces stacked on the pad to date. The mine is on track to meet production guidance of 30,000-32,700 ounces of gold in 2026.