Technical report

Western Uranium & Vanadium Mining Operations Update

Retrieved on:

Tuesday, February 13, 2024

Atmosphere, Uranium, Mining, GMG, Technical report, WUC, Vanadium, DV, Water, Uranium mining

Toronto, Ontario and Nucla, Colorado, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to offer an update on its mining operations, highlighting significant achievements and outlining strategic goals for the upcoming year.

Key Points:

Toronto, Ontario and Nucla, Colorado, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to offer an update on its mining operations, highlighting significant achievements and outlining strategic goals for the upcoming year.
Looking forward, the Company is gearing up to produce significant quantities of uranium and vanadium in 2025.
A successful ramp-up would achieve the annual ore production goal of 1 million pounds of uranium and 6 million pounds of vanadium.
Our current production ramp-up efforts are geared towards ensuring an adequate uranium feedstock supply for the Maverick Minerals Processing Plant.

Foremost Lithium Announces Commencement of Drill Program at Zoro Lithium Project

Retrieved on:

Tuesday, February 13, 2024

Lithium, Social media, Technical report, Marketing, News, Dyke, Zoro, DDH, Disclosure, National instrument, Security (finance), Snow, Agreement

VANCOUVER, British Columbia, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Foremost Lithium Resource & Technology Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost Lithium”, “Foremost” or the “Company”), a North American hard-rock lithium exploration company, is pleased to confirm today that it has commenced drilling on it’s Zoro Lithium Property located in the Snow Lake region of Manitoba.

Key Points:

VANCOUVER, British Columbia, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Foremost Lithium Resource & Technology Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost Lithium”, “Foremost” or the “Company”), a North American hard-rock lithium exploration company, is pleased to confirm today that it has commenced drilling on it’s Zoro Lithium Property located in the Snow Lake region of Manitoba.
This drill program has been partially funded from a $300,000 grant awarded to the Company by The Manitoba Mineral Development Fund in January of 2024.
Given the fact that we have received a multi-year permit, we have time on our side to build tonnage and resource.
The Zoro Property drill program was originally targeted to commence following or in conjunction with our Jean Lake property drilling program, but it was decided to first initiate the drill program at Dyke 1 on the Zoro property, with the Jean Lake drill program to follow at a later date.

Defense Metals Updates Metallurgical Test Work and Preliminary Feasibility Study Progress for its Wicheeda Rare Earth Elements Project

Retrieved on:

Tuesday, February 13, 2024

The field-based geotechnical, geochemical and environmental test work required for the PFS has been completed and lab-based studies are in progress.

Key Points:

The field-based geotechnical, geochemical and environmental test work required for the PFS has been completed and lab-based studies are in progress.
Eleven mixed rare earth precipitate samples from the hydrometallurgical test work have been sent to potential partners, processors or end-users.
Over the past 5 years, Defense Metals drilled 58 core holes totalling 12,073 metres (m; ~39,610 feet) to define the Wicheeda Rare Earth Element (REE) deposit and provide samples for metallurgical test work.
From 2018 to date, about CAD$5 million has been spent on metallurgical test work and the development of the metallurgical flowsheets for the Wicheeda REE Project.

Stallion Uranium Signs Definitive Agreement to Sell Non-Core Uranium Projects in Eastern Athabasca Basin

Retrieved on:

Tuesday, February 13, 2024

Property, Uranium, Mineral, News, Technical report, Sale, Date, National instrument, Stallion, National Instrument 43-101, STUD, Heart, Agreement, Reinsurance

“We are excited to see our three eastern basin projects move into the hands of Glorious, while still being able to benefit from their success.

Key Points:

“We are excited to see our three eastern basin projects move into the hands of Glorious, while still being able to benefit from their success.
These projects warrant, and will now receive, a committed uranium exploration program led by the strength of our technical and geological team.
All three projects are located in the heart of the world-renowned Eastern Athabasca Basin and hold potential for a high-grade discovery,” stated Drew Zimmerman CEO.
Uranium mineralization in the Eastern Athabasca Basin occurs in three deposit types: 1) unconformity-hosted uranium which occur at the contact between the overlying Athabasca Basin and the crystalline basement rocks; 2) basement-hosted uranium which occur within the basement rocks; 3) sandstone-hosted uranium which occur perched in the Athabasca sandstone.

Gas price shocks and euro area inflation

Retrieved on:

Tuesday, February 13, 2024

Transfer, Person, Marques, OPEC, Interval (mathematics), Policy, NBER, Research Papers in Economics, The Economic Journal, Danmarks Nationalbank, Socialism, Energy transition, VIX, Canadian International Council, Paper, E30, Great, Macroeconomics, VAR, Central bank, Balke, Quarterly Journal, Q43, Census, Elasticity, USD, Projection, PMI, Social science, Hou, Bank of France, Topa, Fertilizer, Electricity, SSRN, University, A.5, Section 2, Natural gas, COVID-19, Swings, Overalls, Rotation, Journal of Monetary Economics, Harmonization, Title Transfer Facility, Pain, Ferrari, Uncertainty, Statistics, Medical classification, C50, Harper (publisher), Democracy, Shock, IMF, TTF, Fed, PPI, Power, European Central Bank, Monetary economics, Temperature, Section 3, E31, Nature, Food, Local, Joseph Schumpeter, Website, Energy economics, Speech, DeSantis, GDP, Rigidity, BVAR, Confidence interval, Money, Refinitiv, Bank, Baumeister, Pressure, Oil, Deutsche Bundesbank, International Energy Agency, Employment, Section 4, GIZ, C54, Sun, ECB, European Economic Association, Weather, A.9, Quarterly Journal of Economics, Exercise, HICP, Technical report, Attention, Literature, Journal of Applied Econometrics, Reproduction, International economics, Political economy, Absorption, Joseph Stiglitz, Unemployment, Journal, American Economic Review, Index, Section 5, Business, IP, Bachmann, Research, Federal Reserve Bank, Government, PDF, IWH, Complexity, Failure, Energy Information Administration, Explosive

We document

Key Points:

We document
how gas price fluctuations have a heterogeneous pass-through to euro area prices
depending on the underlying shock driving them.
How do gas price shocks feed through to euro area
inflation, and is the pass-through shock-dependent?
We analyse the importance of gas price shocks
for euro area inflation in two steps.
We identify three structural shocks driving European gas prices,
inspired by the literature on oil but tailored to the European gas market: (i) a gas supply
shock, which reduces the supply of natural gas to the European market, increases the
gas price and lowers gas inventories; (ii) an economic activity shock, which lifts demand
for gas due to higher economic production, and finally (iii) a shock to gas inventories,
when gas prices are driven by precautionary demand by gas companies.
First, all three identified shocks are
important drivers of gas price dynamics, but they differ in how persistently they push
ECB Working Paper Series No 2905

2

up gas prices.
The effect on euro area HICP of a shock to gas supply is more
persistent and somewhat higher than when gas prices are driven by economic activity
shocks.
A final key finding is that the pass-through of gas market shocks to euro area inflation
appears non-linear.
The unprecedented volatility of gas prices
contributed to the inflation problem in the euro area, with the gas price shocks feeding
through producer prices, wages and persistently lifting core inflation.
More expensive
energy contributed substantially to the rise in inflation in Europe during 2022.2
Figure 1: Gas price and euro area Harmonized Index of Consumer Prices.
How do gas price shocks feed through to euro area
inflation, and is the pass-through shock-dependent?
For instance, about 75% of gas imports to the euro area arrives
through pipelines, making gas imports difficult to substitute and gas markets subject to
3
See for example the evidence by Rubaszek and Uddin (2020) for the US economy.
We analyse the importance of gas price shocks for
euro area inflation in two steps.
We identify three structural shocks driving European gas prices,
inspired by the literature on oil but tailored to the European gas market: (i) a gas supply
shock, which reduces the supply of natural gas to the European market, increases the
gas price and lowers gas inventories; (ii) an economic activity shock, which lifts demand
for gas due to higher economic production, and finally (iii) a shock to gas inventories,
when gas prices are driven by precautionary demand by gas companies.
First, all three identified shocks are
important drivers of gas price dynamics, but they differ in how persistently they push
up gas prices.
But when gas prices are driven by
inventory demand shocks, the price effect typically dies out within one quarter.
A final key finding is that the pass-through of gas market shocks to euro area inflation appears non-linear.
The unprecedented volatility of gas prices
contributed to the inflation problem in the euro area, with the gas price shocks feeding
through producer prices, wages and persistently lifting core inflation.
(2022) and Alessandri and Gazzani (2023) identify gas supply shocks using VAR models,
finding that gas price shocks lead to persistent increases in headline inflation.14 Ba?bura
et al.
(2023) find positive effects of gas price shocks on core inflation in a BVAR for
the euro area that includes one type of gas shock along a longer list of macroeconomic
shocks.
3.1
Data

For the gas market BVAR model, we use gas quantities, gas prices, gas inventories and
euro area industrial production, as displayed in Figure 2.
(2015) to optimize
ECB Working Paper Series No 2905

13

the posterior distribution.16 The vector Y includes the European gas quantity proxy, gas
inventories, the European gas price benchmark and euro area industrial production.
As demand for gas increases, the gas price also rises
while inventories fall as agents use gas in storage to partially satisfy higher demand.
Shocks to gas
quantities driven by gas supply or inventory shocks tend to revert to pre-shock levels after
around five to seven months, while economic activity shocks lead to a more long-lived
increase in gas demand.19 Dynamics in gas inventories are more similar across shocks.
3.4
Historical events in the European gas market

Before analysing the transmission of the different types of gas shocks to euro area prices,
we show how the model interprets the unprecedented gas price rise in 2022 in terms of
driving factors, and compare it with previous historical episodes of heightened gas price
volatility as a way of validating the model.
Inventory shocks play a
slightly smaller role, accounting for 17% of gas quantity and 23% of gas price fluctuations
while the residual component (i.e.
4
Pass-through of gas price shocks to consumer prices

The pass-through of gas price shocks to inflation is likely to be multi-faceted.
We first consider four outcome variables y: the European gas price, euro area HICP,
core HICP and energy HICP.
Third, depending on the driving factor, gas price increases can pass through to core
inflation in the euro area.
The results underline that gas price shocks can have important implications for inflation in the euro area ? depending on the driving factor of higher gas prices.
Casoli, C., Manera, M., and Valenti, D. ?Energy shocks in the euro area: disentangling
the pass-through from oil and gas prices to inflation?.

Demographics, labor market power and the spatial equilibrium

Retrieved on:

Tuesday, February 13, 2024

Diamond, Bias, Azar, Technical report, Annual Review of Economics, Princeton University, Education, Population growth, Interval (mathematics), House, Labour economics, SSRN, J11, SIAB, Medical classification, Human resources, Automation, R2, Section 2, FE, CEPR, Probability, Literature, Workforce, Housing, Reproduction, Research Papers in Economics, Male, Classification, Supply chain, A.2, Section, Political economy, BHP, Sokolov, Calibration, Journal of Labor Economics, Journal of Political Economy, Social Security, Schaffner, Selection bias, Yi, Sample, Inequality, Employment, Paper, Princeton University Press, Theory, Woman, Daron Acemoglu, American Economic Review, XN, Shock, National Academies Press, Female, Retirement, Section 5, Manning, Central bank, National academy, European Central Bank, Section 4, Labor share, IEB, Bachmann, David Berger, Research, Federal Reserve Bank, JEL, Elasticity, Workplace, Section 3, Welfare, Journal of Urban Economics, National Research Council, Projection, Fertility, A4, University Press, Feedback, Market power, Converge, Concentration, PDF, Policy, Click, Meta-analysis, Website, Unemployment, Social science, Quarterly Journal of Economics, ECB, Demography, Real estate

Abstract

Key Points:

Abstract
This paper studies how demographics affect aggregate labor market power, the urban wage
premium and the spatial concentration of population.
I develop a quantitative spatial model
in which labor market competitiveness depends on the demographic composition of the local
workforce.
If these factors differ across workers, labor market power has a role to
play in explaining wage inequality.
This paper contributes to the literature on differences in labor market power by analyzing a
new dimension of heterogeneity: demographics.
Since older workers are less mobile in terms of
switching workplaces, firms have more labor market power over older workers.
I start by estimating labor market power by measuring the sensitivity of worker turnover to
the wage paid.
I find a strong
role of demographics in determining the degree of labor market power enjoyed by firms.
Next, I provide evidence of the importance of differences in labor market power for spatial
wage inequality.
To explore the consequences of labor market sorting, I build a spatial general equilibrium
model in which labor market competitiveness depends on the demographic composition of the
ECB Working Paper Series No 2906

2

local workforce.
If these factors differ across workers, labor market power has a role to
play in explaining wage inequality.
In
the model, geographic sorting by age matters and leads to higher labor market power in rural
areas, which implies an urban wage premium that is 4% larger than with uniform labor supply
elasticities.
I follow Manning (2013) and estimate labor market power by measuring the sensitivity of worker
turnover to the wage paid.
Bachmann et al., 2021; Ahlfeldt et al., 2022a; Berger et al.,
2022) that nest a monopsonistic labor market in a spatial general equilibrium model (Redding
and Rossi-Hansberg, 2017).
As firms have more labor market power
over older workers, they face an upward-sloping labor supply curve that is less elastic in regions
with an older workforce.
Firms choose in which labor market to operate in the sense that there is free
entry at fixed costs into all locations.
How are differences in labor market competitiveness across space sustained in spatial equilibrium?
I use the model to quantify the importance of heterogeneity
in labor market power for the urban wage premium and the spatial concentration of population.
My work is complementary to but quite different
from this paper since I argue that population aging increases labor market power rather than
product market power.
By analyzing the effects of a changing age composition of the workforce in the context
of labor market power, I relate to literature on the labor market effects of population aging.
ECB Working Paper Series No 2906
7

after controlling for age, differences in labor market power between East and West Germany
vanish.
They conclude that higher
concentration is associated with higher labor market power (as in the model of Jarosch et al.,
forthcoming).
I offer an alternative explanation why labor market power differs across regions:
Since denser regions have a younger workforce, workers are more mobile in terms of switching
jobs which implies lower labor market power of firms.
In this case, I infer a
high labor supply elasticity and low labor market power of firms.
I contribute to this growing debate by
quantifying differences in labor market power across worker groups and their effects on regional
inequality.
While the model shows how demographics affect labor market power, the urban wage premium and agglomeration, one fundamental question remains open for future research: What
are the policy implications of (differences in) labor market power?

The macroeconomic effects of global supply chain reorientation

Retrieved on:

Saturday, February 10, 2024

Bank, Control, Quarterly Journal of Economics, Literature, Deutsche Bundesbank, Reconstruction, COVID-19, Monetary policy, Medical classification, Aggregate, Interest, Hail, Motion, Organization, WT, Policy, Smith, Elasticity, American Economic Review, Information, CHiPs, Journal of Economic Perspectives, Reproduction, Tagliapietra, Culture, Journal of International Economics, Section 3, European Commission, Communication, B16, Shock, NTM, European Chips Act, SSC, PHT, B17, Classification, Common, Tradability, Bank of Italy, Congressional Research Service, NT, Central bank, Private, Exercise, NIU, Labour, PDF, Website, European Parliament, Terrorism, Employment, B10, SUBST, Agricultural economics, F62, RTK, Bank of England, European Central Bank, Calibration, Agriculture, Foreign policy, Semiconductor, International Monetary Fund, Research Papers in Economics, Outline, Council, Openness, Bias, Economic system, European Council, Public policy, Deutsch, Statistics, GDP, Real, American Economic Journal, Table, Journal, YT, EAGLE, Household, Grossman, Science, Conference, Journal of Comparative Economics, Horse, SSRN, TC, Consumption, REA, F13, Section 2, University, Section 5, Legislation, Money, NTD, Central Bank of Ireland, Language, Capital, University of Limerick, Intermediate, CBI, Caselli, Macroeconomics, Crowding, Technical report, B14, Tax, Civil service commission, Growth, Commission, UNCTAD, Optimism, Politics, PIM, PX, Work, Social science, JEL, Government, Automation, HTT, Quarterly Journal, Canadian International Council, ECB, XT, METRO, ELAS, Credit, Bolt, Research, European Communities, American Journal, ArXiv, Unilateralism, Lerner, Motivation, International, C6, Committee, Security (finance)

We analyse the macroeconomic

Key Points:

We analyse the macroeconomic
effects of supply chain reorientation through localisation policies, using a global dynamic
general equilibrium model.
While arguments about comparative advantage, the potential forgone benefits of international specialisation and industry- and product-specific disruptions are familiar, there is less
analysis on the macroeconomic effects of supply chain changes resulting from localisation policies.
The large sensitivity of the global economy to the recent supply chain shocks suggests that
the international trade reconfiguration implied by localisation policies could also have sizable
impacts on key macroeconomic variables such as output, employment and inflation.
Thus, localisation focuses on the
goods in our model most closely related to global supply chains.
Retaliation also attenuates any positive effects from
reshoring on output and implies a reduction in the volume of overall international trade.
This finding calls for limiting the scope of reshoring, such as by focusing on vital goods that are
most susceptible to supply chain disruptions.
Either that, or the economic costs are considered a worthwhile trade-off for an increase
in security of supply, for example.
While arguments about comparative advantage, the potential forgone benefits of international specialisation and industry- and product-specific disruptions are familiar, there is less
analysis on the macroeconomic effects of supply chain changes resulting from localisation policies.
Recent supply chain shocks have had large effects, with disruptions in 2021 estimated
to have reduced euro area GDP by around two percent and doubled the rate of manufacturing producer inflation (Celasun et al., 2022).
To analyse this issue, we simulate a (partial) reshoring of production back to Europe in
a global dynamic general equilibrium framework.
Thus,
localisation focuses on the goods in our model most closely related to global supply chains.3 We
model reshoring through a direct change to the export goods? production-function parameters.
Since reshoring
effectively shortens the supply chain, the sum of markups along the chain falls.
This means that imports that are at the end of the supply chain (i.e.
In particular, our work relates to papers examining the potential for countries to reduce
their exposure to global supply chains.
(2021) demonstrate that reduced reliance on foreign inputs does not mitigate pandemicinduced contractions in labour supply.
(2021) find no evidence of a relationship
between global value chain integration and macroeconomic volatility.
This dynamic, along with factors such as natural disasters, climate-change
induced volatility and terrorism mean that supply chain disruptions could be a new normal
(Grossman et al., 2021).
Our work contributes to the literature providing dynamic general equilibrium analyses of
protectionist policies, in particular those using global macroeconomic models to quantify trade
policy changes.
(2008) analyse the effect of a rise in protectionism in response
to rising global trade imbalances.
Linde? and Pescatori (2019) find that although the macroeconomic costs of a
trade war are substantial, a fully symmetric retaliation is the best response.
(2020) consider a rich input-output structure and demonstrate that closer integration amplifies
the adverse effects of protectionist trade policies.
Several recent studies have also examined the economic effects of a global trade fragmentation.
First, we modify a dynamic general
equilibrium model of the global economy in order to analyse the transmission of localisation
policies.
This allows for a comprehensive treatment of cross-border macroeconomic interdependences and spillovers between the different regions.
4
There is, however, substantial cross-country heterogeneity in terms of impact, with small open economies
(SOEs) reliant on global supply chains more affected.
ECB Working Paper Series No 2903
7

Second, we are able to assess both long-run effects and the transition dynamics of localisation
policies.
Our model contains a detailed monetary block and captures inflation dynamics, which is a key
concern for supply chain reorientation.
Overall, our paper contains a careful analysis of the key aspects of the localisation debate,
including effects of localisation on domestic competition and efficiency.
Section 2 provides a brief overview of the model, the modifications to examine
global supply chain reorientation, some key details on the calibration and a brief discussion of
the nature of our exercise.
(2020) for discussions of the relative strengths and weaknesses of
trade and macroeconomic models in assessing large economic shocks.
2.1
Supply chain reorientation

Our analysis focuses on imported inputs used to produce goods for export, as the introduction
of localisation policies is in response to recent disruptions to global supply chains.
Since reshoring
effectively shortens the supply chain, the sum of markups along the chain falls.
Further to
these effects, engagement with global firms provides an opportunity for knowledge spillovers to
local firms (Criscuolo et al., 2017).
This finding calls for limiting the scope of reshoring, such as by focusing on vital goods that are
most susceptible to supply chain disruptions.
(B12)
Adjusting the share of local inputs in export goods, of course, affects prices and quantities all
along the supply chain.

Argentina's Lithium Boom: How the Nation is Set to Dominate Global Supply by 2030

Retrieved on:

Thursday, February 8, 2024

VANCOUVER, BC, Feb. 8, 2024 /PRNewswire/ -- USA News Group - In the race to secure new supplies of lithium, one country appears to be surging ahead of others in terms of production and export growth, and that country is Argentina. Amid the current lithium boom, Argentina's mining exports are set to reach around $4.5 billion in 2023, amid strong prices and the launch of a new lithium mine. Thanks to ambitious innovation in lithium extraction methods, including Direct Lithium Extraction (DLE), plenty of firms are aiming to prove their efforts are working. With analysts projecting that production in Argentina could more than triple by 2030, the country is being primed to become the epicenter of new stage of lithium supply. Among the top stories coming from Argentina's lithium landscape include developments from Lithium South Development Corporation (TSX-V:LIS) (OTCQB:LISMF), Alpha Lithium Corporation (OTCPK:APHLF), Lithium Americas Corp. (NYSE:LAAC) (TSX:LAAC), Allkem Limited and Livent Corporation (NYSE:LTHM).

Key Points:

Amid the current lithium boom, Argentina's mining exports are set to reach around $4.5 billion in 2023 , amid strong prices and the launch of a new lithium mine.
Thanks to ambitious innovation in lithium extraction methods, including Direct Lithium Extraction (DLE), plenty of firms are aiming to prove their efforts are working.
With analysts projecting that production in Argentina could more than triple by 2030, the country is being primed to become the epicenter of new stage of lithium supply .
Among the top stories coming from Argentina's lithium landscape include developments from Lithium South Development Corporation (TSX-V:LIS) (OTCQB:LISMF), Alpha Lithium Corporation (OTCPK:APHLF), Lithium Americas Corp. (NYSE:LAAC) (TSX:LAAC), Allkem Limited and Livent Corporation (NYSE:LTHM).

Argentina's Lithium Boom: How the Nation is Set to Dominate Global Supply by 2030

Retrieved on:

Thursday, February 8, 2024

VANCOUVER, BC, Feb. 8, 2024 /PRNewswire/ -- USA News Group - In the race to secure new supplies of lithium, one country appears to be surging ahead of others in terms of production and export growth, and that country is Argentina. Amid the current lithium boom, Argentina's mining exports are set to reach around $4.5 billion in 2023, amid strong prices and the launch of a new lithium mine. Thanks to ambitious innovation in lithium extraction methods, including Direct Lithium Extraction (DLE), plenty of firms are aiming to prove their efforts are working. With analysts projecting that production in Argentina could more than triple by 2030, the country is being primed to become the epicenter of new stage of lithium supply. Among the top stories coming from Argentina's lithium landscape include developments from Lithium South Development Corporation (TSX-V:LIS) (OTCQB:LISMF), Alpha Lithium Corporation (OTCPK:APHLF), Lithium Americas Corp. (NYSE:LAAC) (TSX:LAAC), Allkem Limited and Livent Corporation (NYSE:LTHM).

Key Points:

Amid the current lithium boom, Argentina's mining exports are set to reach around $4.5 billion in 2023 , amid strong prices and the launch of a new lithium mine.
Thanks to ambitious innovation in lithium extraction methods, including Direct Lithium Extraction (DLE), plenty of firms are aiming to prove their efforts are working.
With analysts projecting that production in Argentina could more than triple by 2030, the country is being primed to become the epicenter of new stage of lithium supply .
Among the top stories coming from Argentina's lithium landscape include developments from Lithium South Development Corporation (TSX-V:LIS) (OTCQB:LISMF), Alpha Lithium Corporation (OTCPK:APHLF), Lithium Americas Corp. (NYSE:LAAC) (TSX:LAAC), Allkem Limited and Livent Corporation (NYSE:LTHM).

Heliostar Evaluating Test Mining Scenario for Ana Paula in 2024

Retrieved on:

Thursday, February 8, 2024

Growth, Gold, Teal, News, Ana Paula, Disclosure, Section, Engineering, Feasibility, Technical, Technical report, Mining, Feasibility study, CPG, Metallurgy, National instrument, PEA

Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to provide an update on the potential to advance the underground decline and complete test mining to process a bulk sample from the Ana Paula deposit in Guerrero, Mexico.

Key Points:

Heliostar CEO, Charles Funk, commented, "Since acquiring Ana Paula 10 months ago, Heliostar's team has moved quickly to redefine Ana Paula as a high-grade underground gold project.
In our view, this will be a large step towards de-risking the underground plan for Ana Paula.
Heliostar also intends to complete a PEA in the second half of 2024, submit the underground mining permit modifications and continue resource drilling to further grow the Ana Paula resource."
Figure 1: Plan and Section map of a decline and stope design option for test mining at Ana Paula.