Quarterly Activities/Appendix 5B Cash Flow Report

Brightstar Resources Limited (ASX: BTR) (Brightstar) (Brightstar or the Company) is pleased to present its Quarterly Report and Cash Flow Report.

Highlights:

• Brightstar and Kingwest Resources Limited (ASX:KWR) shareholders agreed to merge under a Scheme of Arrangement, which was approved and implemented during the quarter
• Strategic consolidation of the gold assets of both companies results in materially increased scale with Scoping Study nearing completion to demonstrate a pathway to near-term and low capex production
• Assays for a 30 hole, 6000m RC drilling at Cork Tree Well were returned, with the best intercepts including:
  • 10m @ 4.54g/t Au from 192m (BTRRC184), including:
    • 2m @ 17.23g/t Au from 194m1
  • 2m @ 11.81g/t Au from 172m (BTRRC200);
  • 13m @ 1.83g/t Au from 143m (BTRRC223)
• An upgraded Mineral Resource Estimate was delivered at Cork Tree Well with a 20% increase in ounces to 303koz @ 1.4g/t Au and subsequent uplift to global 1.02Moz resource base1
• Cork Tree Well Resource update delivered at a discovery cost of
• Significant process in advancing towards gold production with Scoping Study2, RC drilling programs3 and positive traction on Selkirk Mining JV2 delivered during the quarter:
  • Scoping Study of combined asset base commenced to investigate potential of combined resource base to monetise gold resources at both Laverton & Menzies, utilising Brightstar’s processing plant in Laverton
  • Inaugural drilling campaign at the Menzies Gold Project commenced, with initial assays being received post-quarter end with intercepts including 1m @ 39.58g/t Au from Aspacia and 8m @ 4.09g/t Au from Lady Irene4
  • Selkirk Mining JV progressing with mobilisation dates confirmed by JV Partner2
• Brightstar funded for growth with a post-quarter capital raising to provide sufficient working capital until anticipated organic cash flow from Selkirk mining JV in Q1 2024

Operations Overview

Key activities for Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) are outlined below.

Cork Tree Well Drilling Program

The Company received final assays from the 30 hole, 6,000m RC campaign completed at Cork Tree Well (CTW) in March 2023, with assay results feeding into a larger database including the previous RC drilling campaign completed in Q4, 2022 by Brightstar at CTW as shown in Figure 1.

The majority of the drill holes in the CTW RC program were designed to intersect the projected mineralised zone at the deepest point on each section, seeking to grow the MRE down dip and also increase the drill density in certain areas to generate Indicated JORC Resources.

Of the entire program, significant assays were received in 20 of the 30 holes drilled and assayed. The results indicate that the mineralised system is open both along strike to the north and at depth, and that further drill testing is required to continue to grow the mineralised footprint.

Post-quarter end in July, Brightstar commenced a ~2,000m RC drilling program at CTW targeting the emerging trend of high-grade plunging shoots within the mineralised system.

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