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

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27 JANUARY 2022

CORK TREE WELL DRILLING PROGRAM CONTINUES TO DELIVER HIGH-GRADE GOLD

HIGHLIGHTS

• Gold assays reported from the RC drilling, include:

1. 12m @ 3.47 g/t Au from 157m and 9m @ 1.46 g/t Au from 178m (BTRRC028)

1. 5m @ 2.67 g/t Au from 226m (BTRRC030)

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

1. 4m @ 3.19 g/t Au from 107m (BTRRC054)

1. 4m @ 3.35 g/t Au from 127m (BTRRC055)

• 1. 7m @ 1.71 g/t Au from 95m (BTRRC061)
• Intersections over the entirety of the project confirm the tenor and locations of lode compared with geological model.
• Mineralised extensions along strike and down dip to the current Resource will require further drilling to determine the total size of the mineralisation, representing significant exploration upside at Cork Tree Well.

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is delighted to present the final tranche of results from the Cork Tree Well (CTW) RC program completed in late 2021 and located in the Laverton Gold belt of Western Australia.

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RC drilling by Strike Drilling at Cork Tree Well.

With the final successful results delivered, Managing Director, Mr Hobba, said: "Similarly to the previous results received these assays have continued to confirm the orebody model location as well as thickness and grade of earlier intersections. Opportunities for extensions of the orebody have consistently been noted throughout the program and along the strike length of the deposit and this has continued into the final set of results. Of the twenty holes returned in the current batch, 16 have returned significant results (>1g/t). The overall proportion of drillholes with significant intersections over the total program was approximately 80%. We look forward to presenting a new resource model in the coming months and delineating high-priority areas at CTW for follow up drilling programs to continue to grow the footprint of the known mineralisation."

Discussion of Results

The geology and orebody model within the pit area has been confirmed by the drilling program, which has also continued to delineate mineralisation outside the Resource envelope and boundaries of known mineralisation. Significant results north of the pits seem to sit further east than the main lode at CTW on a basalt-ultramafic contact rather than the sedimentary chert units within the pits. This may indicate there are parallel lodes, a splay lode, or cross lodes that have not been effectively tested in this area, and represents an area of potentially material upside. Further drilling will be required to effectively test this mineralised structure.

Results in the northern end of the CTW project, designated the 'Delta' project area, are still returning significant results that could contribute to a shallow open pittable resource. These intersections are still open along strike and down dip.

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Drilling density between the pits and Delta needs improving particularly around the airlanding strip. This area has previously been interpreted as having a deep palaeochannel that may obscure the signal of a primary orebody from shallow drilling.

Figure 1 below indicates areas of potential extensions that are not closed off by the current drill program.

Figure 1: Potential extensions of mineralisation unclosed by current drilling.

Gold Mineralisation Discussion

The remaining 20 holes returned in this batch included significant (> 1g/t Au) assays from 16 holes. This means that 70 of the 90 holes drilled (including the failed BTRRC036) 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. There is also consistent mineralisation intersected in the northern half of the program hole to hole which may be developed into another open pit in the future if further drilling improves the confidence of that mineralisation.

The cross section in Figure 2 below demonstrates the opportunity along strike in the northern 'Delta' area with BTRRC072 returning 6m @ 5.56 g/t Au from 29m and BTRRC073 returning 4m @ 2.75g/t Au from 82m. Each of these intersections are similar to the previous intercepts on this section with similar metal tenor. Growth opportunities are also apparent as the section is not closed down-dip.

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Figure 2: CTW Cross Section with BTRRC072 (6m @ 5.56 g/t Au) and BTRRC073 (4m @ 2.75g/t Au) Table 1 below lists all of the significant gold intersections returned for the whole program. Appendix 2 lists the relevant hole details.

Hole	From	To	Width	Grade
Number	(m)	(m)	(m)	(g/t)	Comment
BTRRC009	130	132	2	1.38
BTRRC012	108	110	2	1.08
BTRRC013	100	105	5	2.83
BTRRC014	134	136	2	1.58
BTRRC016	96	97	1	3.03
BTRRC018	94	98	4	2.12
BTRRC019	102	109	7	1.59
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	1.89
BTRRC024	96	98	2	4.52
	102	113	11	2.86
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

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BTRRC028	157	169	12	3.47
178	187	9	1.46
BTRRC029	120	122	2	2.81
130	137	7	2.84
BTRRC030	226	231	5	2.67
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
BTRRC036A	114	116	2	1.39	Redrill of BTRRC036
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
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
BTRRC044	99	100	1	4.14
BTRRC045	94	97	3	2.28
BTRRC046	118	122	4	1.17
BTRRC048	113	119	6	1.67
BTRRC050	2	3	1	1.48
BTRRC051	102	103	1	1.73
BTRRC052	92	97	5	1.66
BTRRC053	100	104	4	1.62
106	107	1	1.26
BTRRC054	107	111	4	3.19
BTRRC055	127	131	4	3.35
BTRRC056	130	131	1	1.77
BTRRC057	131	132	1	1.04
133	134	1	1.05
BTRRC059	109	118	9	1.06

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