First Four Drill Holes Completed At Unga

VANCOUVER – Heliostar Metals Limited reported on the first four drill holes completed at Unga in 2021. The company has three drill rigs on the project and has completed 36 holes for a total of 4,245 meters to date.

Drilling Highlights at Apollo: APSRC21-02 – 88.3 grams per tonne (‘g/t’) gold over 3.05 meters from 21.35 meters (‘m’) downhole; SKRC21-03 (500m to the East) – 7.98 g/t gold (10.0 g/t Aueq) over 4.57 meters from 13.72 m downhole and, 1.91 g/t gold (5.20 g/t Aueq) over 4.57 meters from 39.62 m downhole and, 8.65 g/t gold (9.09 g/t Aueq) over 10.67 meters from 54.86 m downhole, including 19.3 g/t (20.1 g/t Aueq) gold over 4.57 meters from 56.39 m downhole and 10.2 g/t gold (10.3 g/t Aueq) over 1.52 meters from 83.82 m downhole; and 27 holes have been completed at Apollo, defining parallel veins over a strike length of 725 meters and a vertical range of 140 meters. Mineralization remains open in all directions and drilling is ongoing.

CEO, Charles Funk, said, “These are exceptional results and this discovery at Apollo adds another high grade zone to the Unga project. Apollo was Alaska’s first underground gold mine and despite historical reports of continuations of gold and base metal mineralization beyond historic workings, Heliostar is the first company to successfully intersect these veins in drilling. The Apollo-Sitka trend is over two kilometers long and drilling completed to date in 2021 has tested just 725 meters of the trend, with additional assays pending. The company is undertaking a 7,000 meter, fully-funded program with a goal of demonstrating the current resource (384,000 inferred ounces at 13.8 g/t gold1) can grow to greater than 1,000,000 ounces of gold.”