Brightstar Resources : South Exploration Update

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25 JULY 2022

BRIGHTSTAR EXPLORATION UPDATE

HIGHLIGHTS

• Anomalous results from aircore drilling in the Brightstar South tenement area have been returned at each of the three prospects Rowena, Jubilee and Sailor Prince.
• Peak regolith gold intersection of 1m @ 4,850ppb Au intersected at Sailor Prince prospect.
• Orientation of anomaly at Sailor Prince prospect aligned with historical workings.

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce results of the aircore drilling program completed at the end of Q1 in the Brightstar South tenement area. The 200m wide-spaced aircore program was designed to test areas of known historic mining and recent successful prospecting as well as discover new bedrock anomalies in the highly prospective Laverton Gold belt of Western Australia.

51 aircore holes were completed for a total of 925m in the second half of March by Strike Drilling and submitted to ALS Global laboratories for both gold and multi- element analysis. Gold results include 1m @ 933ppb Au from 20m from Jubilee, 1m

• 345ppb Au from 12m at Rowena, and several intersections of 1m width greater than 100ppb from in situ regolith at Sailor Prince (see Table 1), including a peak intersection of 1m @ 4,850ppb Au from 20m.

The cover sequence in this area was anticipated to be relatively shallow with potential for hardpan development obstructing aircore drilling techniques however the in-situ regolith was expected to be well developed to approximately 40m. Regolith conditions across all the prospects were on average significantly shallower with minimal recent cover and thin to absent in situ regolith in many cases. Bedrock lithologies intersected were mainly mafic to ultramafic including high and low magnesian basalts and some granitic to porphyritic material adjacent to Rowena. Quartz veining was noted in some drillholes however the anomalous results do not appear to be associated with those intervals.

Future work in this area will need to be assessed with respect to the shallower in situ regolith determined in this program. Tighter spacing of drillholes may be required to better resolve anomalies and provide more information on size and shape of these mineralised systems.

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Figure 1: Aircore Drilling at Sailor Prince prospect.

Commenting on these results, Managing Director, Mr Hobba, said: "These results confirm the existence of gold mineralised systems at each of the prospects. Further work integrating historic information with modern exploration techniques will allow the Company to create new opportunities in the project area. The potential to develop multiple operations in the Brightstar South region remains a key focus for Brightstar."

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Figure 2: Max Au in hole - Brightstar South aircore.

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Results and interpretation.

Sailor Prince.

The orientation of the anomalous intersections noted in the drilling at Sailor Prince broadly matches the strike direction of the historic workings on the lease and tend to fall on the western side of the line of those workings, splitting to the southern end. This anomaly of greater than 100ppb can be traced over 500m in strike adjacent to workings that stretch nearly 700m in length.

Table 1: Anomalous intersections from Q1 aircore at Sailor Prince.

Hole ID	From (m)	To (m)	Au (ppb)
BTRAC0038	17	18	122
BTRAC0043	11	12	120
BTRAC0046	17	18	97
BTRAC0047	20	21	4850
BTRAC0052	12	13	119

The peak anomaly of 4,850ppb Au from 20-21m in BTRAC0047 was in weathered clay in a hole that ended in basalt at 33m. Further drilling is needed to determine the fresh rock opportunity along this structural corridor. Very little is documented about the mineralisation that has been exploited here in the past but there still appears to be significant indications of a mineralised system and no evidence that it has been fully extracted.

Jubilee

Of the ten aircore holes completed at Jubilee only one returned an anomalous result however that result is in the southern most hole on the eastern side of the grid indicating potential for further anomalism to both the east and south. The anomalism in BTRR0010 is 20-21m @ 933ppb Au in basalt. Additional holes may be needed to determine the orientation and scale of this mineralisation.

Rowena.

Significant anomalism of 345ppb Au was intersected in BTRAC0025 at Rowena in basalt bedrock at 12-13m depth. This intersection is surrounded by other holes in the dice patterned grid however it is interpreted that the relatively thin in situ regolith (less than 20m on average for the prospect) may mean that the 200m spaced grid may be too broad to effectively capture this type of mineralisation. Follow-up drilling tightened up around the anomalous results may be required to effectively resolve the shape of this system.

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Figure 3: folds and foliations identified at Rowena prospect.

This ASX announcement has been approved by the Managing Director on behalf of the board of Brightstar.

For further information, please contact:

William Hobba

Managing Director

Phone: [phone]

Email: [e-mail]

Ian Pegg

Exploration Manager

Phone: [phone]

Email: [e-mail]

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