Brightstar Resources : Exploration Programs Underway at Laverton Gold Project

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24 MARCH 2022

BRIGHTSTAR TO ACCELERATE EXPLORATION EFFORTS

AT CORK TREE WELL PROJECTS

HIGHLIGHTS

• Completion of successful capital raising to fund exploration and resource development activities in 2022.
• 10,000m of RC and diamond drilling planned at Cork Tree Well (CTW) in 2022.
• CTW drilling will target extensions to the known mineralisation and conduct further exploration of the CTW project area.
• Remote Sensing programs being investigated to improve targeting of subsurface deposits particularly where palaeochannels are interpreted to interrupt geochemical signals.
• Short impactful aircore programs designed to test for anomalism in areas of historical mining and prospecting with significant previous anomalism but little effective modern exploration.
• 2,000m aircore program completed at Brightstar South project area, assays awaited.

After a highly successful oversubscribed capital raising completed on March 23, Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce its exploration plan for 2022 in the highly prospective Laverton Gold belt of Western Australia. The plan is designed to leverage both the advanced project at CTW for JORC Resource growth and to investigate exciting early-stage projects across Brightstar's tenement holdings to generate new targets for future production.

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Figure 1: Brightstar's Project Areas.

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Figure 2: Program areas for Brightstar's 2022 Exploration Plan.

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Commenting on the planned exploration activity for 2022, Managing Director, Bill Hobba, said:

"The Laverton district continues to be a highly prospective region for gold mineralisation and contains some of Western Australia's largest producers. We plan to aggressively investigate the highly prospective ground in our tenure to develop high value new targets, as well as build larger and more robust orebodies in our more advanced projects to support economic assessments of potential production scenarios. The RC drilling campaign at Cork Tree Well will commence as soon as final PoW approvals are received."

Discussion of Projects

Cork Tree Well

CTW produced some outstanding results in the 2021 RC program. The target continues to be open along- strike and down-dip and parallel lodes have not been effectively tested throughout the CTW area. It is incumbent upon the Company to investigate opportunities to grow the Resource and aggressively test its CTW targets during 2022. The Company has planned for 10,000m of RC drilling and 2,000m of diamond drilling for the greater CTW area to address both Resource growth and potential new discoveries.

The JORC Resource expansion work will mainly focus on the northern end of the known system with a smaller proportion of the program focussed on determining the potential of parallel lodes/splay lodes.

Geophysical surveys are being investigated to determine if they can assist in resolving deeper sub-surface anomalies for more accurate drill targeting, particularly under deeper overburden including palaeochannels.

Exploration for new targets in the CTW area to supplement future potential production from CTW will also be investigated during 2022. Exploration in the northern part of the project will be supported by the SAM survey reported 10th June 2021 (see Figure 3). Exploration will be undertaken at the new "Central" project east of the CTW Main lode (Figure 4) identified from historical holes with anomalous results.

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Figure 3: SAM survey results at northern CTW, drilling and interpreted targets.

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