Helius Minerals Provides an Update on the Agência Nacional de Mineração´s Recent Decisions for the Serra Pelada Project

Helius Minerals Limited has secured a critical regulatory milestone for the Serra Pelada Project in Brazil, with the Agência Nacional de Mineração (ANM) granting a one-year extension for the commencement of mining activities at the Serra Pelada mining concession in Para State. This authorization represents a significant risk reduction for a project that has been dormant since 2014 and faced potential annulment and loss of the mining concession.

The company holds an option agreement with Colossus Minerals Inc. to acquire a 75% beneficial interest in the Serra Pelada Mining Concession through the acquisition of Colossus' Brazilian subsidiaries. The ANM's decision was based on Helius' detailed development plans, the responsible approach to deposit development, and the absence of risk from existing dam structures. The authorization comes with conditions that must be satisfied within a 60-day extendable period, including initiating new environmental licensing, submitting updated resource and economic development reports, and regularizing corporate compliance requirements.

The regulatory approval follows extensive legal and technical discussions between Helius and the ANM, with the company obtaining proxy rights from Colossus in February 2026 to represent the project and pursue the extension request that was originally filed in 2012. President and CEO Christian Grainger expressed satisfaction with the progress and emphasized Brazil's position as a premier mining jurisdiction, indicating the company's strategic focus on the region.

Looking forward, Helius plans to restart exploration activities at Serra Pelada upon exercising its option, including demonstrating tailings dam stability through proper registration and safety protocols. The company's exercise of the option remains subject to TSX Venture Exchange approval and satisfaction of closing conditions, with due diligence ongoing regarding potential liabilities. This development positions Helius to advance a significant mining asset in one of South America's established mining jurisdictions, though execution of the complex regulatory requirements will be critical to realizing the project's potential.