Quarterly Activities Report For The Period Ending 31 December 2022

Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to provide its Quarterly Activities Report for the period ending 31 December 2022.

HIGHLIGHTS

Tumblegum South Gold Project

• Results released for the initial Reverse Circulation (RC) drilling program completed at Star of the East gold project
• Tumblegum Phase 3 diamond drilling logged, sampled and assayed in anticipation of release
• Refinement of geology model and preparation for updated Mineral Resource Estimate

West Bryah Copper-Gold Project

• Public data analysis underway
• Soil sampling and ground magnetic survey completed, with planning for drilling to commence first half of 2023

During the quarter, Star Minerals made further headway towards its goal of bringing its Tumblegum South gold project into production. Completion of a diamond drilling program at the end of last quarter has been followed up with logging, sampling and assay activities.

In addition, the Company has completed its first drill program and completed this work with the collection of samples and return of assay results for the “Star of the East” project, a historical gold mine that complements the Company’s Tumblegum Project, only 2km to the east.

Work on completing analysis of the soil sampling, mapping and ground magnetic survey work on the West Bryah tenements is ongoing, with the results of this planned to be used for a proposed drill program in the first quarter of 2023.

CEO Greg Almond comments:

“Following the successful completion of initial RC drilling at Star of the East and our latest round of diamond core at Tumblegum South, we are heartened by the results so far, and having success at two projects gives us a lot of confidence for the future.

We look forward to making further strides through the work we have in progress, to update the resource model and progress Tumblegum South through to a scoping study. Our diamond drilling leveraged our initial success with our two RC programs, and we are very happy that the assay results continue to support the existing model of the geology and grade.

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