Quarterly Activities/Appendix 5B Cash Flow Report

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

Highlights:

• First ore mined at Selkirk under the mining JV at Menzies
• 5,000m RC drill program completed at Aspacia and Link Zone at Menzies
• Maiden Mineral Resource Estimate released for the Link Zone
• Aircore drilling extends strike of +300koz Cork Tree Well Deposit for a further 1.5km
• Lithium exploration in Menzies uncovers multiple anomalies and outcropping pegmatites
• Brightstar Processing Plant valued at over A$60m replacement cost
• $5.0 million raised via a Share Placement to accelerate exploration and development activities

Link Zone Maiden Mineral Resource¹

A maiden Mineral Resource Estimate (MRE) at the Link Zone of +21koz @ 1.1g/t Au (Table 1) targeting shallow, easily mineable material at the Menzies Gold Project was announced in November 2023. The Link Zone is located ~1km south of the 287koz Lady Shenton System and ~1km north of the 43koz Lady Harriet System at the Menzies Gold Project (Figures 1 & 2).

This MRE was undertaken on data from over 200 RC holes, including a modest drilling program completed by Brightstar with gold intercepts including 1m @ 13.95g/t and 4m @ 3.21g/t as released on 8th August 2023.

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

Post quarter end, Brightstar announced2 the results of assays for 27 holes completed at the Link Zone, out of a total 42 holes (2,800m) completed in December. The December quarter RC drilling program was designed to both infill and extend known boundaries of mineralisation with the intent of advancing it towards potential near-term mining opportunities, with best intercepts including:

• 1m @ 54.77g/t Au from 10m (MGPRC049)
• 7m @ 3.09g/t Au from 84m (MGPRC050)
• 2m @ 4.46g/t Au from 6m (MGPRC059)
• 3m @ 2.96g/t Au from 31m (MGPRC053)
• 3m @ 2.32g/t Au from 0m (MGPRC040)

Brightstar 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.

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