Brightstar Resources : Further Significant Gold Grades Returned from Cork Tree Well

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3 DECEMBER 2021

FURTHER SIGNIFICANT GOLD GRADES RETURNED FROM CORK TREE WELL DRILLING PROGRAM

HIGHLIGHTS

• High-gradegold assays returned in shallow RC drilling, including: o 16m @ 3.26 g/t Au from 112m (BTRRC022)
  o 12m @ 4.25 g/t Au from 131m (BTRRC031) o 7m @ 3.03 g/t Au from 58m (BTRRC081) o 6m @ 2.60 g/t Au from 68m (BTRRC081) o 7m @ 2.28 g/t Au from 69m (BTRRC083) o 2m @ 6.23 g/t Au from 137m (BTRRC078) o 2m @ 16.84 g/t Au from 96m (BTRRC075)
• Significant assays intercepted along strike to the North of historical mining.
• Multi-elementnickel assays still pending from the lab for previously reported nickel intercepts (see announcement 10/11/21) including re- assays of original intercepts.

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce that it has successfully completed the RC drilling program at Cork Tree Well, located in the Laverton Gold belt of Western Australia. The Company is also pleased to share newly received gold results.

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Strike Drilling undertaking RC drilling at Cork Tree Well.

Commenting on the success of the program, Managing Director, Mr Hobba, said: "These results continue to correlate very well with Brightstar's geological model and indeed exceed our expectations for grade profile within the Cork Tree Well deposit. This latest batch of assays for an additional 21 holes mean we have now received 47 holes in total from the program of 89 holes completed at Cork Tree Well. We eagerly await the balance of the gold assays as well as the multi-element nickel assays in line with our previous ASX announcement, including re-assays of the original intercepts. Results will be announced when analysed and QAQC processes completed."

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Discussion of Results

Results for the drilling program, the first exploration program conducted on this area since 2012, have been received for 47 holes along the Cork Tree Well deposit. The completed approx. 12,000m and 89-hole program was designed to infill and extend the current JORC Resource of 237koz @ 1.9g/t Au.

Gold assays received to date continue to provide confidence that the Resource is robust and will convert to higher confidence JORC Resource categories and ultimately a JORC Reserve once declared.

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

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

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Gold Mineralisation Discussion

Significant (> 1g/t Au) assays were returned in 36 of the 47 holes assayed to date. The results continue to conform closely with Brightstar's geological model and show continuity down dip and along strike.

The drilling results are encouraging with the grade exceeding the JORC Resource grade profile in many areas of the Resource envelope.

The best intersection returned so far is 16m @ 3.26g/t Au from 112m from BTRRC022.

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
BTRRC019	102	109	7	1.26
BTRRC020	162	166	4	1.92
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
BTRRC027	126	132	6	1.67
BTRRC031	121	127	6	1.3
131	143	12	4.25
BTRRC032	176	183	7	3.5
193	200	7	1.87
BTRRC038	81	82	1	1.21
	11	12	1	1.78
BTRRC040	31	32	1	1.88
	66	67	1	2.78
	31	33	2	1.13
BTRRC043	40	41	1	1.16
	43	45	2	1.25
BTRRC044	99	100	1	4.14
BTRRC060	107	110	3	4.38
BTRRC062	104	109	5	1.45
BTRRC066	97	100	3	1.95
BTRRC069	42	47	2	3.69
BTRRC070	74	75	1	2.08
BTRRC072	23	24	1	20.32

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	29	35	6		5.56
BTRRC073	82	86	4		2.75
92	94	2		1.38
	96	98	2		16.84
BTRRC075	102	104	2		2.43
	137	139	2		6.23
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
	48	49	1		1.36
BTRRC081	58	65	7		3.03
	68	74	6		2.6
	113	114	1		1.75
BTRRC082	26	28	2		1.21
	43	44	1		1.37
BTRRC083	50	53	3		1.92
	69	76	7		2.28
BTRRC084	95	96	1		1.17
BTRRC085	100	101	1		1.21
75	77	2		1.07
BTRRC086	100	101	1		1.13
	17	20	3		1.19
BTRRC087	58	59	1		1.49
	62	65	3		1.99
	18	22	4		1.06
BTRRC088	67	68	1		2.57
70	72	2		2.51
	78	79	1		1.24
BTRRC089	89	90	1		5.39
BTRRC090	106	108	2		1.15
	Table 1: Significant Intercepts (>1g/t Au).

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