Helius Minerals Limited ("Helius" or the "Company") (TSXV: HHH) notes the recent statements issued by Phoenix Gems, a U.S. company, through Brent Evan Smith, concerning a civil dispute involving Phoenix Gems do Brasil Ltda.

The Company has reviewed with legal counsel the judgment referred to in such statements (the "Judgment") and notes that it concerns Brent Smith's reinstatement as a shareholder of Phoenix Gems do Brasil Ltda. The Judgment does not grant Brent Smith, Phoenix Gems, or Phoenix Gems do Brasil Ltda. any standing, title, interest, or rights in respect of the Serra Pelada project or the mining rights to such project currently held by Serra Pelada Companhia de Desenvolvimento Mineral. The Judgment also preserves the rights of good-faith third parties.

Accordingly, the Company considers any assertion by Phoenix Gems or Mr. Smith of rights over the Serra Pelada project to be without merit. The Company will take such steps as it considers appropriate, in the ordinary course, to protect its interests, and the Company remains focused on completing its acquisition of the Serra Pelada project and then advancing the project, as disclosed in the Company's news release of June 30, 2026.

About Helius Minerals Limited

Helius is a mineral exploration company focused on the identification and development of high-quality mineral assets across the Americas, with an emphasis on South American jurisdictions.

On behalf of the Board of Directors,

Helius Minerals Limited

Website: www.heliusminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Helius Minerals Limited

SOURCE: Helius Minerals Limited

Christian Grainger (PhD, AIG),APresident and CEO,AM: +57 3146364676,
cg@heliusminerals.com

COMTEX_486140625/2197/2026-07-07T09:20:00