Heliostar to restart La Colorada open-pit mining in Q1

Executive Summary

• Heliostar Metals acknowledges positive media reports and government commentary indicating that the permitting process for the La Colorada expansion project is progressing favorably.
• The company has completed all necessary submissions and bonding payments for the Veta Madre open-pit expansion permit and has passed the initial 20-business-day review period by Semarnat without receiving further questions.
• Under the positiva ficta legal process, the lack of questions during the review period results in an automatic positive outcome, with formal documentation expected in Q1 2026.
• The restart of open-pit mining at the Veta Madre pit is scheduled to begin in Q1 2026.

Key Details

• Project: La Colorada expansion project (Veta Madre open pit) in Sonora, Mexico.
• Permitting Status: Application submitted in Q2 2025; all submissions and bonding payments completed in November 2025.
• Regulatory Review: 20-business-day review period by the Secretaria of Environment and Natural Resources (Semarnat) has concluded without requests for additional information.
• Legal Process: The permit is subject to positiva ficta, meaning the absence of questions during the review period triggers an automatic positive outcome.
• Timeline: Formal receipt of permit documentation is expected in Q1 2026; restart of mining operations is targeted for Q1 2026.

Notable Quotes

• "Heliostar looks forward to providing an update on restart of mining in the Veta Madre pit at La Colorada in Q1 2026."