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BRIGHTSTAR RESOURCES LIMITED Capital/Financing Update 2016

Feb 23, 2016

64581_rns_2016-02-23_d23c62a9-51ca-443e-814f-23ed16b06fcf.pdf

Capital/Financing Update

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**STONE

RESOURCES AUSTRALIA LIMITED**

24 February 2016

UPDATE ON PROPOSED BRIGHTSTAR GOLD PROJECT

JOINT VENTURE

Stone Resources Australia Limited (ASX: SHK) provides the following update further to the ASX announcement released on 11 January 2016 with respect to the Binding Heads of Agreement entered into with MHM Metals Limited (MHM) to develop the Brightstar Gold Project located in the Laverton region of Western Australia.

Both parties have mutually agreed to use reasonable endeavours to negotiate, finalise and execute the Formal Agreement to document the Joint Venture transaction as soon as practicable.

The transaction is conditional upon MHM completing due diligence to its satisfaction and obtaining all necessary shareholder and regulatory approvals.

First Floor 1/250 Fulham Street, Cloverdale W A 6105 Telephone (618) 9277 6008: Facsimile (618) 9277 6002: ASX Code SHK Email [email protected] website: www. stoneral.com.au ABN 44 100 727 491: ASX Code SHK : Member of AMEC