(TheNewswire)
Vancouver, Canada - TheNewswire - December 31, 2020 – HeliostarMetals Limited (TSXV:HSTR ) (OTC :RGCTF ) ( FRA:RGG)( "Heliostar" or the "Company" )is pleased to announce that it has completed the previously announcedsale of its 16.5% interest in the Newman Todd property to TrilliumGold Mines Inc. (TSXV:TGM) ( “Trillium” ).
The terms of the sale were set out in a purchaseagreement between Heliostar and Trillium dated as of November 24,2020, pursuant to which Heliostar agreed to sell its 16.5% interest inconsideration for $700,000 cash and 650,000 Trillium common sharesissued from treasury. In addition, i f at anypoint after closing there should be 1,000,000 or more ounces of goldin measured and indicated reserves and resources on the Newman Toddproperty, Trillium has agreed to make an additional C$1,000,000 cashpayment to Heliostar.
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: charles.funk@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.
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