Brightstar Resources : Further High Grade Gold Results at Cork Tree Well

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20 DECEMBER 2021

CORK TREE WELL DRILLING PROGRAM CONTINUES TO DELIVER RESULTS

HIGHLIGHTS

• Gold assays reported from the RC drilling, include: o 26m @ 2.97 g/t Au from 111m (BTRRC025)

1. 17m @ 3.09 g/t Au from 139m (BTRRC026)

1. 12m @ 1.69 g/t Au from 133m (BTRRC021)

1. 3m @ 5.15 g/t Au from 61m and 5m @ 5.01 g/t Au from 70m (BTRRC074)

1. 7m @ 1.40 g/t Au from 56m (BTRRC033)

1. 7m @ 2.21 g/t Au from 111m (BTRRC034)

• 1. 8m @ 2.65 g/t Au from 40m (BTRRC041)
• Intersections continue to confirm tenor and locations of lode compared with geological model.
• Dip extensions of lode intersected consistently through-out strike length of project. Open at depth, requiring further drilling to determine bottom of mineralised lode.

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce further assay results from the successful RC drilling program at Cork Tree Well, located in the Laverton Gold belt of Western Australia.

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RC samples at Cork Tree Well.

Commenting on the latest results, Managing Director, Mr Hobba, said: "The opportunity for Brightstar at the Cork Tree Well project continues to grow with more intersections returned down-dip and outside of the current JORC Resource envelope. With an additional 22 holes returned in this latest batch of analyses, we have now received 69 holes of the 89 holes completed at Cork Tree Well. We are keen to share the results of the final 20 holes when received, and QAQC and analytical review is completed."

Discussion of Results

Results to date from the Cork Tree Well RC drilling program (69/89 holes) have confirmed the location of the lodes as interpreted in the current Resource model, furthermore the average grade of many of the intersections appear to be higher than previous holes and the modelled Resource headgrade. Brightstar therefore expects these results to contribute to a more robust JORC compliant Resource and eventually JORC compliant Reserve. For the first exploration program conducted on this area since 2012 this is an encouraging outcome.

We are currently awaiting the return of re-assays of the original intersections of nickel before interpreting the opportunity for ongoing nickel prospectivity.

Figure 1 below indicates the drill hole collar locations for the reported holes in this announcement and the pending assays currently outstanding.

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Figure 1: Plan view of Cork Tree Well drill collar locations and assays returned

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Gold Mineralisation Discussion

The additional 22 holes returned in this batch included significant (> 1g/t Au) assays from 19 holes including re-assays from 2 holes. Overall, this means that 53 of the 69 holes assayed to date have contained significant results.

Holes near the northern end of the southern pit, adjacent to the 'saddle' between the pits, have had some of the better intersections.

The best intersection returned so far is 26m @ 2.97g/t Au from 111m from BTRRC025.

Table 1 below lists the significant gold intersections received to date.

Appendix 2 lists the relevant hole details.

Hole Number	From (m)	To (m)	Width (m)	Grade (g/t)
BTRRC009	130	132	2	1.38
BTRRC012	108	110	2	1.08
BTRRC013	100	105	5	2.83
BTRRC016	96	97	1	3.03
BTRRC018	94	98	4	2.12
BTRRC019	102	109	7	1.26
BTRRC020	162	166	4	1.92
BTRRC021	133	145	12	1.69
BTRRC022	112	128	16	3.26
133	136	3	1.82
BTRRC023	160	176	16	1.22
	89	93	4	1.22
BTRRC024	96	98	2	3.3
	102	113	11	3.12
BTRRC025	105	106	1	1.35
111	137	26	2.97
BTRRC026	139	156	17	3.09
160	161	1	1.17
BTRRC027	126	132	6	1.67
BTRRC029	120	122	2	2.81
130	137	7	2.84
BTRRC031	121	127	6	1.3
131	143	12	4.25
BTRRC032	176	183	7	3.5
193	200	7	1.87
BTRRC033	56	63	7	1.4
BTRRC034	111	118	7	2.21
BTRRC035	131	132	1	1.54
136	144	8	1.57

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only	BTRRC036A	114	116	2	1.39
119	123	4	1.45
BTRRC037	74	81	7	1.94
	BTRRC038	81	82	1	1.21
		29	30	1	1.35
	BTRRC039	46	48	2	1.62
		71	74	3	1.29
		11	12	1	1.78
use	BTRRC040	31	32	1	1.88
	66	67	1	2.78
BTRRC041	40	48	8	2.65
	56	57	1	1.97
		31	33	2	1.13
	BTRRC043	40	41	1	1.16
		43	45	2	1.25
personal	BTRRC044	99	100	1	4.14
BTRRC046	118	122	4	1.17
BTRRC060	107	110	3	4.38
	BTRRC062	104	109	5	1.45
	BTRRC066	97	100	3	1.95
	BTRRC068	103	107	4	1.33
	BTRRC069	42	47	2	3.69
	BTRRC070	74	75	1	2.08
	BTRRC072	23	24	1	20.32
	29	35	6	5.56
	BTRRC073	82	86	4	2.75
	92	94	2	1.38
		61	64	3	5.15
	BTRRC074	65	68	3	1.01
		70	75	5	5.01
		96	98	2	16.84
For	BTRRC075	102	104	2	2.43
	137	139	2	6.23
BTRRC076	140	141	1	1.18
BTRRC077	48	50	2	2.06
BTRRC078	69	70	1	1.14
71	72	1	1.28
BTRRC080	71	72	1	1.55
		42	43	1	5.68
	BTRRC081	48	49	1	1.36
	58	65	7	3.03
		68	74	6	2.6

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