Day: November 14, 2023

Prime Chief Executive Officer Daniel Kunz commented, “With 51,000 metres drilled to date and six drills now turning, we are well on our way to completing 2023’s planned 60,000 metre drill program at Los Reyes. Recent results from both expansion and generative drilling continue to demonstrate solid potential to contribute to resource inventories and develop an outstanding high-grade gold-silver project.”

“In late Q2, the mine returned to the level of monthly production planned for the 2023 – 2024 fiscal year, as well as recovering additional ounces over budgeted amounts to make up for the lower than planned production in Q1,” stated Salvador Garcia, Chief Operating Officer.

“We expect to close out 2023 on a solid note with the fourth quarter forecast to be the strongest quarter of production, driven by higher open pit grades now that the period of elevated waste stripping is behind us. Our confidence in achieving full year production guidance of 440,000 to 470,000 ounces is supported by October gold production of 41,450 oz, which included 105 hours of planned maintenance in the process plant at the start of the month.”

Tony Makuch, CEO, states: “We made significant advances at Cordero during and subsequent to the third quarter of 2023. The submission of our Environmental Impact Statement, the principal permit required for the development of Cordero, represents a major milestone for the Company.”

“We made measurable progress in the third quarter delivering a solid performance at our existing operations. Despite the early challenges and a slower than expected ramp-up, we achieved commercial production at our flagship asset, the Magino mine, after the quarter end. This achievement coupled with strong performance at our Florida Canyon mine is a testament to our team who has worked diligently to optimize our operations.”

Heliostar Metals Ltd. is pleased to announce a warrant exercise incentive program designed to encourage the early exercise of up to 46,363,630 common share purchase warrants issued on March 16, 2023.