Brightstar Reports Maiden Mineral Resource at Menzies’ Link Zone

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce a maiden Mineral Resource Estimate (MRE) at Link Zone, located ~1km south of the 287koz Lady Shenton System and ~1km north of the 43koz Lady Harriet System at the Menzies Gold Project (MGP). This MRE was undertaken on over 200 RC holes including a recent program completed by Brightstar with gold intercepts including 1m @ 13.95g/t and 4m @ 3.21g/t as released on 8th August 2023¹.

HIGHLIGHTS

• Maiden JORC2012 Mineral Resource Estimate at the Link Zone of +21koz @ 1.1g/t Au from shallow, near surface material at the Menzies Gold Project
• Brightstar has identified the Link Zone as having the potential for early-stage mining opportunities to generate operational working capital to organically fund exploration and development activities
• The MRE displays favourable orebody characteristics of near surface stacked lodes, oxidised material, likely low strip mining and is still open at depth and along strike at all three deposits within the Link Zone
• A higher-grade core within the MRE of approximately 100kt @ 2.0g/t Au for +6koz illustrates the potential for modest scale mining operations that is synergistic and value- accretive to the larger scale development of Brightstar’s Menzies and Laverton Gold Projects
• Pre-Feasibility Study work streams for the Menzies and Laverton Gold Projects are underway with drilling to be completed at the Link Zone and Aspacia deposits in Q4
• Further work planned for Link Zone to advance the deposit includes infill & extensional drilling, fast-tracking mining approvals and assessing mining scenarios

Brightstar’s Managing Director, Alex Rovira, commented“We are excited to announce this latest increase to our gold inventory, with the new ounces at Link Zone providing strong potential for future near-term mining scenarios.

In addition to completing the necessary approvals, permitting and mine planning, Brightstar are also assessing whether Link Zone can be extracted under a mining joint venture similar to the current Selkirk mining JV, on a stand-alone basis in the short term or alternatively in conjunction with proposed open pit mining activities at Menzies which is presently being advanced as part of our Pre-Feasibility Study.

The Link Zone prospect is a near surface opportunity with potential for strong economics given the shallow depth to mineralisation and favourable ore body geometry.

With the PFS work streams underway, RC drilling will be commencing this quarter at the Menzies Gold Project, focusing on infill/extensional drilling at Link Zone (for potential fast-tracked development optionality) and at the high-grade Aspacia Prospect, which represents significant potential to delineate a maiden high-grade mineral resource for inclusion in the PFS mine plan. The previous BTR drilling in Q2/Q3 highlighted the grades at Aspacia (up to 40g/t Au) and with a historic mined head grade of +30g/t Au1, Aspacia represents a potential high-grade underground mining operation at Menzies that sits outside the impressive economics highlighted in the recent Scoping Study.”

As shown in Tables 1 & 3, Brightstar’s resources at Menzies have increased to 525koz with global resources expanding to 1,036,000oz due to the increased resource base at Link Zone, which sits halfway between Lady Shenton and Lady Harriet and approximately 2km south of the Menzies townsite.

Table 1 – Link Zone Resource Table Summary (November 2023)

Figure 1 - Link Zone location within broader Menzies Gold Project

Technical Discussion – Link Zone

ABGM Pty Ltd (ABGM), were engaged by Brightstar Resources Ltd to undertake a maiden Mineral Resource Estimate for the three “Link Zone” Gold Deposits following completion of recent drill programs and re- interpretation of historic data. The following text is a summary of their report issued to Brightstar.

Project Location

The MGP is centred on the town of Menzies which lies 130km north of Kalgoorlie and is accessed by the Goldfields Highway and then by well-maintained shire roads and exploration tracks as outlined in Figure 2. The railway from Kalgoorlie-Leonora also services Menzies.

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