Helius Minerals makes progress in Brazil

Mr. Christian Grainger reports HELIUS MINERALS PROVIDES UPDATE ON PROGRESS WITH THE SERRA PELADA GOLD-PGM PROJECT, BRAZIL Helius Minerals Ltd., after signing the definitive exclusivity, share option and acquisition agreement dated as of March 3, 2025, with Colossus Minerals Inc. regarding the Serra Pelada gold-platinum-group-metals project in Brazil, has significantly advanced negotiations and mutual understanding with Brazilian governmental agencies and legal proceedings to finalize this accord. Since the signing of the definitive agreement, Helius has held a series of successful meetings with both the Brazilian Ministry of Mines (MME) and the National Mining Agency (ANM) that have strengthened the strategic framework to facilitate returning the Serra Pelada project to commercial production. Helius has also obtained access to a broad collection of historical technical, legal and financial documentation related to the Serra Pelada project, much of which had been left unstructured following Colossus's insolvency. The company is in the process of systematically organizing and reviewing this material, which is proving instrumental in shaping a clear strategy for repermitting, stakeholder engagement and redevelopment of the project. Under the definitive agreement, Helius has been provided with a 12-month exclusivity period to: (a) undertake a review and development of a plan to ensure compliance with relevant mining laws and other regulatory requirements; (b) formulate a comprehensive strategy to address outstanding debts of the Brazilian subsidiaries of Colossus; and (c) develop a detailed plan to rehabilitate the Serra Pelada project, the Brazilian subsidiaries and SPCDM (as defined below). The Serra Pelada project was put on a care and maintenance program in 2014 when Colossus became insolvent after incurring significant development expenditures prior to achieving commercial production. Christian J. Grainger, president and chief executive officer, commented: "Within just five months of signing the definitive agreement, I am very satisfied with the progress that Helius Minerals has made -- with the invaluable help of our Brazilian legal counsel, led by Philippe Martin -- in advancing mutual understanding with the Brazilian government on the future of the new Serra Pelada project. We have also received overwhelming support from legacy shareholders and are working closely and in partnership with Coomigasp to move the project forward as efficiently as possible. Serra Pelada has already seen significant investment including drilling and underground development. Given current metal prices, we believe it is an opportune time to evaluate alternative mining scenarios that could better unlock the full potential of this truly unique deposit. I am personally excited to return to Serra Pelada, drawing on my prior experience with the deposit, and to work hand in hand with our partners at Coomigasp and the community." The Serra Pelada gold-PGM project Serra Pelada is located within the Carajas mineral province of Brazil. In July, 2007, the Cooperativa de Mineracao dos Garimpeiros de Serra Pelada (Coomigasp) entered into a partnership agreement with Colossus to form Companhia de Desenvolvimento Mineral (SPCDM), which holds a 100-per-cent interest in the Serra Pelada project. Colossus acquired a 75-per-cent interest in SPCDM under the partnership agreement. About Helius Minerals Ltd. Helius is a mineral exploration company focused on the identification and exploration of high-quality mineral assets across the Americas, with an emphasis on South American jurisdictions. We seek Safe Harbor.