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SPEED, GRADE AND GROWTH

Developing the High-Grade Ana Paula Gold Deposit

June Corporate Presentation

CAUTIONARY STATEMENT

This presentation contains certain statements that may be deemed "forward-looking statements". All statements in this presentation, other than statements of historical fact, that address future operations, resource potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential", "NPV targets" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.

Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as may be required by applicable law.

The technical and scientific information in this presentation has been reviewed and approved by Stewart Harris, P.Geo., Exploration Manager for the Company. Mr.Harris is a Qualified Person as defined under the terms of National Instrument 43-101.

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A PORTFOLIO OF HIGH GRADE GOLD PROJECTS

THE KEY ASSET

  • Heliostar owns the Ana Paula Gold Deposit in Mexico
    • 1.4Moz of gold (M&I) at 2.16 g/t gold
    • PFS completed in 2023 with post tax 30.5% IRR and US$278.6M NPV at US$1,600 per ounce gold price1
    • Permitted for an Open Pit Mine
    • Previous operators have spent in excess of $US75M on the project

GROWTH ASSETS

  • Heliostar has an option on the San Antonio Gold Deposit in Mexico
    • 1.7Moz of gold (M&I) at 0.83 g/t gold2
  • Unga is a high quality growth project in Alaska
    • 0.4Moz of gold (Inferred) at 13.8 g/t gold

TSX.V: HSTR | OTCQX: HSTXF

1: Ana Paula Project NI 43-101 Preliminary Feasibility Study Update for Heliostar Metals. dated February 28, 2023

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2: NI 43-101 Technical Report on Resources, San Antonio Project for Argonaut Gold Inc. dated October 10, 2012

HELIOSTAR CORPORATE OVERVIEW

Share Structure

Capital Structure

Board and

Management

Shares on Issue

147.8 M

(5%)

Options and RSU's

14.4 M

Warrants

58.0 M

Fully Diluted

219.9 M

Cash

C$5.0 M

Analyst Coverage

Mike Niehuser

HNW and Retail

(45%)

Institutional

(50%)

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HELIOSTAR LEADERSHIP

Charles Funk - CEO & Director

Over 15 years in Business Development and Exploration for companies including Newcrest Mining and OZ Minerals

Led the Panuco discovery for Vizsla Silver in 2020

Sam Anderson - VP Projects

20 years experience with 17 at Newmont in roles including Mine Geology Supt. and Senior Manager of Exploration BD

Significant roles at the Merian Mine in Suriname from resource stage, through studies, construction to steady state operation

Mahesh Liyanage - CFO

CA, CPA with 20 years experience including roles as CFO of

Vizsla Silver, Orogen Royalties and Mirasol Resources

Rob Grey - Investor Relations Manager

15 years experience in Senior Communications positions with Extorre Gold Mines Ltd & Exeter Resources Corporation

Jacques Vaillancourt - Chairman

Investment Banker with 30 years experience. 20 years with BMO. Helped raise $30B for natural resource sector

George Ireland - Director

Founder, CEO and CIO of Boston based Geologic Resource Partners LLC. Financier with over 40 years industry experience

Ken Booth - Director

CEO and Geologist with wide-ranging experience in company management and investment banking with Scotia, BMO & RBC

Dr. Alan Wilson - Director

PHD Economic Geologist with 30 years experience working for Rio Tinto, Billiton, Newcrest, Anglo American and Antofagasta

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Disclaimer

Heliostar Metals Ltd. published this content on 12 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 June 2023 20:07:36 UTC.