Gold Results from “Star of the East” Drilling

Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to advise that it has received the assay results from its phase 2 reverse circulation (RC) gold drilling campaign at the “Star of the East” project.

HIGHLIGHTS

• Gold assays received for phase 2 reverse circulation drilling at Star of the East
  
• Phase 2 drilling assays include:
  • 5m @ 2.45 g/t Au in hole SRC017 from 9m downhole
    including 3m @ 3.16 g/t Au from 10m downhole
  • 3m @ 3.24 g/t Au in hole SRC009 from 52m downhole
    
  • 3m @ 2.68 g/t Au in hole SRC010 from 34m downhole
• Drilling was designed to extend known mineralisation at the Prospect
• Review of the model is in progress to support final Project evaluation

“The drill program at Star of the East was efficiently executed, with a strategy to test the deposit for extensions.

Project review on the available data, as validated by Star Mineral’s drill testing during phase 1 and now phase 2 is in progress to evaluate the potential value of the deposit.”

The phase 2 drilling program consisted of 10 RC holes which were completed for a total of 757m. Including the phase 1 drilling of 294m over 7 holes, Star Minerals have now drilled a total of 17 holes for 1,051m of RC drilling, to ensure a considered evaluation of the Star of the East Project is completed.

Star of the East is a historic high-grade gold mine in the Murchison region of Western Australia, first mined in 1897 after discovery by prospectors. Tenement E51/1561 contains evidence of this historic work, with an old shaft and other remnants of previous activity. Records indicate that the mine produced around 27,700oz gold, working along a main lode down to around 50m depth.¹

Drilling has tested extensions of the Star of the East gold deposit to the east, west and down dip of the existing high density of drilling focused on the turn of the 19^th Century mining works in the shallow portion of the deposit.

Star Minerals has right to drill at the Star of the East Project due to an access agreement signed as part of an option agreement for the Project with the holders of the tenement.

Figure 1 shows the wider regional overview with Star of the East part of the Tumblegum South Project Area, around ~40km to the South of Meekatharra; Figure 2 below shows a more detailed view of the Star of the East and Tumblegum South tenements.

Figure 1 - Star of the East location, part of the Tumblegum South Project area

Figure 2 - Star of the East and Tumblegum South tenement location.

Drill collars at the Star of the East Project are shown in Figure 3 below, symbolised by drill era.

Intercepts of significance from phase 2 drilling include:

• 5m@ 2.45 g/t Au from 9m depth on hole SRC017, including:
  
  • 3m @ 3.16 g/t Au from 10m depth
• 3m @ 3.24 g/t Au from 52m depth on hole SRC009
  
• 3m @ 2.68 g/t Au from 34m depth on hole SRC010.

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