Heliostar Metals Ltd (HSTR)

[n3m3sis]

Heliostar Metals sells minority interest in Newman Todd for a total consideration of $1,701,000


Vancouver, Canada - TheNewswire - November 25, 2020 - Heliostar Metals Limited (TSXV:HSTR) (OTC:RGCTF) (FRA:RGG) ("Heliostar" or the "Company") is pleased to announce it has entered into an agreement with Trillium Gold Mines Inc. (TSXV:TGM) ("Trillium") to sell its 16.5% interest in the Newman Todd property located in the Red Lake district of Ontario.

Heliostar's CEO, Charles Funk, commented "Converting Heliostar's non-core minority interest in Newman Todd into cash and Trillium shares is consistent with our strategy to focus on our Unga project and our Mexican exploration portfolio. The additional funds further strengthen our cash balance as we complete the 2020 Unga drill program, while our shareholding in Trillium and the potential for a success payment retains exposure to the upside of the Newman Todd property."

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