Further High-Grade Gold Results Received from Cork Tree Well Geotechnical Drilling

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce the second round of non- priority assay results from sixteen Geotechnical diamond drillholes at Cork Tree Well (CTW) within the Laverton Gold Project (LGP). These sixteen holes were part of a broader 20-hole diamond drilling program² designed for metallurgical and geotechnical purposes.

HIGHLIGHTS

• Assays received from eight geotechnical diamond holes completed at Cork Tree Well with gold assays up to 40.15g/t Au, located near CTWMET003 which returned 27.6m at 17.77g/t Au from 51m¹
• Intercepts returned include 4.0m @ 17.32g/t Au from 78.0m (CTWGT004), including:
  • 1.0m at 40.15 g/t Au from 78.0m, and
  • 0.59m at 37.4 g/t Au from 81.0m, and
  • 0.41m at 11.62 g/t Au from 81.59m
• Additional lode within CTWGT004 returned 3.0m at 3.46 g/t Au from 68m including 1.0m at 8.48 g/t Au from 70m
• Shallow intercept returned from CTWGT003:
  • 2.6m at 1.74g/t Au from 33.0m
• High-grade results at the base of current pit shell design provides confidence for continuous mineralisation extensions at depth with historically defined significant intercepts
• CTWGT003 and CTWGT004 were drilled into the unmined material north of the historically mined northern pit at Cork Tree Well, with the gold mineralisation entirely contained within a sheared mafic/ultramafic sequence

Brightstar’s Managing Director, Alex Rovira, commented “It is pleasing to see further high-grade assays continuing from geotechnical holes from the diamond drilling program that was completed at Cork Tree Well earlier this year. CTWGT004 returned a significant high-grade intersection of 4.0m @ 17.32g/t Au from 78.0m, which complements the previously announced1 intersection of 27.6m @ 17.77g/t Au (CTWMET003) drilled 200m to the north.

The sixteen Geotechnical drillholes (CTWGT001 – CTWGT016) were drilled into the current optimized $2,750/oz pit- shells generated in the 2023 Scoping Study3 with these holes designed by Brightstar’s independent geotechnical consultants targeting structural and rock mass data for the definitive feasibility study. Both CTWGT003 and CTWGT004 were drilled perpendicular to the orebody and thus reported intersections represent estimated true widths of significant mineralised intercepts.

Given the quality of the assays received from the drilling to date, Brightstar is excited to build on the existing 303koz @ 1.4g/t Au Mineral Resource4, which is open both at depth with high-grade plunging shoots and along strike targeting the structurally-controlled mineralised trends. The high-grade results returned to date are significantly higher than the current 1.4g/t Au head grade of the Mineral Resource (and 1.85g/t mine grade from the 2023 Scoping Study), representing significant upside to both metrics.”

Table 1 - Significant Intercepts (>1g/t Au) for Cork Tree Well geotechnical diamond drilling

Figure 1 - Q1/24 Diamond Drill Program – Section A-A’ displayed in Figure 3

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