Heliostar Metals Ltd. has commenced open-pit mining at the Veta Madre pit within its La Colorada property in Sonora, Mexico, shifting its previous position from engineering and waste-stripping preparations reported in June 2026.

The company acquired the operating mine in November 2024 and subsequently advanced a drilling and permitting campaign to expand the workings. The operation is currently producing gold from injection leaching and remains on track to meet its 2026 production guidance of 20,000 to 22,300 ounces of gold.

The newly established Veta Madre Plus pit is designed larger than detailed in the 2025 technical report, targeting an additional 20,000 ounces of gold beyond the current reserve base of 376,000 ounces of gold grading 0.68 grams per tonne across 17.1 million tonnes of ore. Within that total, the Veta Madre pit hosts 48,000 ounces of gold grading 0.71 g/t across 2.1 million tonnes of ore.

Production next year will transition from stockpile-and-injection leaching to stacking higher-grade new gold ore mined from the expanded cutback.

In addition to the operational restart, Heliostar has become a signatory to the International Cyanide Management Code, committing to follow its principles and implement its standards of practice for safe and environmentally responsible management.

“The restart of open-pit mining at La Colorada is another important milestone for Heliostar. This progress is part of our corporate plan to secure cash flow through 2027 and 2028 to support construction at Ana Paula. We see production from Veta Madre as a critical part of that plan. Gold production is moving from the innovative approach of stockpile-and-injection leaching that has driven our current production to stacking higher-grade new gold ore for production starting next year. The Company has designed a larger pit than detailed in the 2025 technical report as a result of our recent exploration drilling campaign. Called the Veta Madre Plus pit, it targets an additional 20,000 ounces of gold beyond the current reserve. We see significant potential for additional growth at La Colorada and now have a steady production base from which we can continue to expand the future of the mine.”

— Charles Funk, CEO

The milestone forms part of Heliostar's broader operational strategy to build a steady production base and secure cash flow supporting development across its portfolio.

Read the full announcement: Heliostar Commences Open Pit Mining at La Colorada Mine