Helius Minerals Provides Update on Serra Pelada Option

Helius Minerals Limited has provided formal notice to Colossus Minerals Inc. regarding its option to acquire a 75% beneficial interest in the Serra Pelada gold-platinum-palladium mining project located in Pará, Brazil. The option stems from a definitive agreement originally dated March 3, 2025 and subsequently amended on October 22, 2025. The company has until October 1, 2026 to exercise this option, with potential extensions available under specific circumstances outlined in the agreement.

The Serra Pelada project represents a significant precious and platinum group metals opportunity in Brazil, historically known as one of the world's most productive gold deposits. For Helius, a mineral exploration company focused on high-quality assets across the Americas with particular emphasis on South American jurisdictions, this option provides potential access to a world-class asset without immediate capital commitment.

The announcement is procedural in nature, representing a milestone in the option timeline rather than a definitive acquisition decision. The extended timeline until October 2026 provides Helius with substantial time to conduct due diligence, secure financing, and evaluate market conditions before making a final determination. The company's ability to extend the option period under certain circumstances provides additional flexibility in the decision-making process.

This development underscores the ongoing interest in Brazil's mining sector among international exploration companies, particularly for precious metals projects. The option structure allows Helius to control a significant interest in a major project while managing risk and capital allocation. The ultimate decision on whether to exercise the option will likely depend on factors including metal prices, project economics, regulatory environment, and the company's ability to secure necessary funding for development.