Quarterly Activities Report For The Period Ending 31 March 2023

Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to provide its Quarterly Activities Report for the period ending 31 March 2023.

HIGHLIGHTS

Tumblegum South Gold Project

• High-grade gold results from Tumblegum Phase 3 diamond drilling released, including 2.1m @ 20.49g/t Au in hole BGDD002 from 26.7m downhole and 0.4m @ 41.5g/t Au in hole TDH004 from 62.7m downhole
• Refinement of geology model and preparation for updated Mineral Resource Estimate.

West Bryah Copper-Gold Project

• Public data analysis underway.
• Rock Chip results released, with results including a sample returning 35.85g/t in the Top Dimble region and another 3.31g/t in the West Dimble area.

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 the return of the assay results from this work, and the use of this new information further refining our interpretation and geology model.

In addition, the Company has received and analysed the results from its reconnaissance work involving soil sampling, mapping and ground magnetic survey work on the West Bryah tenements. Results of this work has been used to complete planning for further activity, with crews planned to be on-site during the next reporting period, for further geophysical work, sampling and an initial drill program.

CEO Greg Almond comments:

“Following the successful completion of our RC and Diamond drilling programs at Tumblegum South, we are encouraged by the results, and looking forward to the completion of our geology modelling and resource work.

Our exploration success at Tumblegum South and Star of the East confirms the value of these assets and validates our ever-improving knowledge of these projects. The work completed also provides a predictive model to unlock further value in our existing assets, new targets and properties.

We look forward to completing the resource model and progress Tumblegum South through to a PFS. 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”.

Figure 1 - Star of the East and Tumblegum South tenement location

Tumblegum South is located approximately 40km south of the town of Meekatharra in Western Australia (see Figure 1).

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