(TheNewswire)
Vancouver, Canada - TheNewswire - December 9 th , 2020 - Heliostar Metals Limited(TSXV:HSTR ) (OTC :RGCTF ) ( FRA:RGG)( "Heliostar" or the "Company" )is pleased to announce the appointment of Mr. Mahesh Liyanage to theCompany’s executive team in the role of Chief Financial Officer(“CFO”). Mr. Liyanage takes over from Mr. Mark Brown who hasstepped down from his role.
Heliostar CEO, Charles Funk, commented “I welcome Mahesh to Heliostar Metals aswe continue to build a dynamic management team that can unlock thepotential of our high-grade portfolio in Alaska and Mexico. We wouldalso like to thank Mark for his excellent contribution, and histeam’s service, to the company over the last two and halfyears.”
Mr. Liyanage is a Chartered Professional Accountantwith more than 20 years of experience across diverse industries. Hehas strengths in Canadian public company reporting and regulatorycompliance, business spin-offs/mergers and acquisitions, treasurymanagement, Canadian and US tax compliance including extensiveexperience in US and Mexican operations. Mr. Liyanage worked mostrecently as CFO for Orogen Royalties and Mirasol Resources.
In conjunction with his appointment, Mr. Liyanage hasbeen granted 116,667 options (as previously announced in News Release#17, disseminated on September 4, 2020). The Options are exercisablefor a period of five years at a price of $1.725 per share and willvest 1/3 immediately; 1/3 after 12 months from the date of grant; and1/3 after 24 months from the date of grant and are subject to thepolicies of the TSX Venture Exchange.
About Heliostar Metals Ltd.
Heliostar is a well-financed junior exploration anddevelopment company with a portfolio of high-grade gold projects inAlaska and Mexico. The company’s flagship asset is the 100%controlled Unga Gold Project on Unga and Popof Islands in Alaska. The project hosts an intermediate sulphidation epithermal golddeposit within the district-scale property that encompasses240km 2 across the two islands. Additional targets on the propertyinclude intermediate sulphidation epithermal veins, and porphyry andhigh sulphidation targets. On Unga Island, priority targets include:SH-1 and Aquila, both on the Shumagin Trend, the former Apollo-Sitkamine, which was Alaska’s first underground gold mine, and theZachary Bay porphyry gold-copper prospect. Gold mineralization atthe Centennial Zone is located on neighbouring Popof Island withinfour kilometres of infrastructure and services at Sand Point.
In Mexico, the company owns 100% of three early stageepithermal projects in Sonora that are highly prospective for gold andsilver. Cumaro forms part of the El Picacho district, while the OsoNegro and La Lola projects are large, properties with multipleoutcropping veins that have never been drilled.
For additional information pleasecontact:
Charles Funk
Chief Executive Officer
Heliostar Metals Limited?
Email: info@heliostarmetals.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward-Looking Information. Thisrelease includes certain statements that may be deemed"forward-looking statements". Forward-looking statementsare statements that are not historical facts and are generally, butnot always, identified by the words "expects","plans", "anticipates", "believes","intends", "estimates", "projects","potential" and similar expressions, or that events orconditions "would", "may", "could" or"should" occur. Forward-looking statements in this pressrelease include Heliostar’s expectations that the transactionscontemplated in the Agreement will be approved by the TSX VentureExchange and completed. Although the Company believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, suchstatements are not guaranteeing of future performance and actualresults may differ materially from those in the forward-lookingstatements. Factors that could cause the actual results to differmaterially from those in forward-looking statements include marketprices, exploitation and exploration successes, and continuedavailability of capital and financing, and general economic, market orbusiness conditions. Investors are cautioned that any such statementsare not guarantees of future performance and actual results ordevelopments may differ materially from those projected in theforward-looking statements. Forward-looking statements are based onthe beliefs, estimates and opinions of the Company's management on thedate the statements are made. Except as required by applicablesecurities laws, the Company undertakes no obligation to update theseforward-looking statements in the event that management's beliefs,estimates or opinions, or other factors, should change.
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