BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2021

May 4, 2021

5 May 2021

$5.5M TO REFURBISH BRIGHTSTAR GOLD MILL

Emerging West Australian gold company Brightstar Resources Ltd ( ASX: BTR ) ( Brightstar or the Company ) is pleased to announce receipt of a report from highly regarded consultancy Como Engineers Pty Ltd ( Como ) that confirms an estimated cost of $5.5 million to refurbish the Brightstar Processing Plant (the Mill ) at the Company’s flagship Brightstar Gold Project ( Brightstar Project ), near Laverton in the northern Goldfields.

The Mill is on care and maintenance while Brightstar completes resource definition drilling and mine design work ahead of finalising plans to re-establish its gold mining operations.

Strategic Significance of Brightstar Gold Mill

The Como report states that refurbishment of the Mill will result in Brightstar having a 650ktpa production plant within 60km of its three major deposits – Alpha, Beta and Cork Tree Well, which boast a combined JORC-2012 compliant Mineral Resource of approximately 445,000oz Au (7,192kt @ 1.9 g/t). The Mill is also close to a number of third-party, advanced gold projects that may lead to toll-treatment opportunities.

The Como report estimates the costs of refurbishment of the Mill, including all modifications and upgrades, to be approximately $3.6 million (excluding GST). In addition, Como has estimated $1.9 million of owner’s costs. The Como cost estimates include a 30% contingency.

The Como report builds on the significant investment Brightstar made in 2014 including purchasing and installing, or partly installing, key capital items such as a new secondary crusher, 450kW ball mill, gravity circuit and elution circuit.

Other key findings of the Como report include that:

• (a) the estimated refurbishment, upgrade and commissioning of the Mill should take approximately three months, plus a potential three months to produce a new head for the Ball Mill;

• (b) core components of the Mill, including the ROM bin and grizzly, the carbon-inleach tanks, crushers and feeders are overall in decent condition; and

• (c) the refurbishment should be undertaken with a crew of up to 10 staff.

The Como report is an exciting milestone for Brightstar and will be incorporated into the Company’s three-year strategic plan, which is expected to be finalised and released to the market by the end of this quarter.

Brightstar Resources Managing Director Bill Hobba commented:

“We are delighted with the outcomes of Como’s report into the Brightstar Mill’s refurbishment and upgrade, which confirmed our expectations of a low capital-cost solution that will underpin plans for us to fast-track the Brightstar Project into production.

“At the upgraded oxide processing capacity of approximately 650,000 tonnes a year, our Mill will be almost twice as large as originally envisaged.

“The Brightstar Board wishes to thank Richard Ladyman and his team at Como for preparing a robust and independent review of the costs associated with returning our Mill to operations. We now look forward to getting on with the job of completing our resource work and associated mine design work at the Brightstar Project – including a final cost estimate for the Mill work – as part of our plans to becoming a profitable gold producer.”

Major Items of Mill Refurbishment Expenditure

Some of the major (>$100,000) items of Mill refurbishment and upgrade expenditure identified in Como’s report include:

• (a) work on the crushing and screening electronics ($100,000);

• (b) replacement of the feed bin ($100,000) and lime silo ($150,000);

• (c) supply and refit of new rubber liners and lifters in Ball Mill 1’s lube system ($150,000);

• (d) replacing the head and trunnion of Ball Mill 3’s trunnion bearing ($250,000);

• (e) acquisition of a new leach tank ($200,000); and

• (f) preparation of a new or second-hand agitator for the leach tank ($100,000).

The belt feeder also requires a new heavy duty conveyor belt and installation of a gravity circuit and concrete repairs need to be completed.

A copy of Como’s report is attached to this announcement. Como has consented to the release of the report.

ENDS

This announcement has been approved for release to the ASX by the Board of Brightstar Resources

For further information, please contact: William Hobba

Managing Director Phone: +61 8 9277 6008 Email: miningservicesA1@bigpond.com

COMPETENT PERSON’S STATEMENT

The information presented here relating to the Mineral Resources of the Alpha, Beta and Cork Tree Well (Delta) deposits is based on information compiled by Mr Richard Maddocks of Auralia Mining Consulting Pty Ltd. Mr Maddocks takes overall responsibility for the Mineral Resource Estimate. Mr Maddocks is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he has undertaken to qualify as a “Competent Person” as that term is defined in the 2012 Edition of the “Australasian Code for Reporting of

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Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012)”. Mr Maddocks consents to the inclusion in this announcement of the matters based in this information in the form and context in which it appears. Mr Maddocks was employed as a contractor of Brightstar.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This Announcement contains forward-looking statements and forward-looking information within the meaning of applicable Australian securities laws, which are based on expectations, estimates and projections as of the date of this Announcement.

This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management’s expectations with respect to, among other things, the timing and amount of funding required to execute the Company’s exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company’s properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company’s ability to raise funding privately or on a public market in the future, the Company’s future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may” and similar expressions have been used to identify such forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time. Forward looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Australia or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information.

Although the forward-looking information contained in this Announcement is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements

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or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this Announcement.

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STONE RESOURCES

BRIGHTSTAR GOLD PLANT

REFURBISHMENT

Job No 3010.15

30 April 2021

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Prepared by Level 2, 38 Richardson St Como Engineers Pty Ltd West Perth WA 6005 Mechanical & Mineral Phone: 08 9432 0100 Processing Engineers www.comoeng.com.au

30/04/2021	0	FINAL	RPL
17/03/2021	C	FINAL	RPL
05/11/2020	B	Draft	~~S~~ RPL
03/11/2020	A	Draft	VW
Date	Rev	Description	By		Checked		Approved

BRIGHTSTAR GOLD PLANT REFURBISHMENT

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CONTENTS

CONTENTS	CONTENTS
CONTENTS ............................................................................................................................. 2
1.	INTRODUCTION ............................................................................................................. 3
2.	EXECUTIVE SUMMARY ................................................................................................. 4
3.	PLANT INSPECTION ...................................................................................................... 5
	Crushing ..................................................................................................................................... 5
	Grinding & Classification ............................................................................................................ 6
	Leach, CIL, Tails Pumps ............................................................................................................ 6
4.	EXECUTION PLAN AND SCHEDULE ............................................................................. 7
5.	DISCLAIMER ................................................................................................................... 8

Appendices

App-1 –	Budget
App-2 –	Photos
App-3–	Quotes

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BRIGHTSTAR GOLD PLANT REFURBISHMENT

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1. INTRODUCTION

At the request of Stone Resources Director , Bill Hobba, the author, Richard Ladyman, Principal Engineer at Como Engineers, visited the Brightstar plant, about 30 km south east of Laverton, accompanied by the site manager, Craig Wales, on 15 October’20 . The purpose was to inspect the plant and prepare a budget (+/- 30%) for refurbishment, upgrade and modifications, generally as set out in Mr.Hobba’s emails dated 8 October’20 and 11 March’21.

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BRIGHTSTAR GOLD PLANT REFURBISHMENT

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2. EXECUTIVE SUMMARY

The estimated costs are:

Refurbishment of existing plant, including modifications and upgrades	$	3.6M
Total Excluding GST	$	3.6M
Owners Costs Excluding GST	$	1.9M

These estimates are shown in detail in the Appendix 1 spreadsheet.

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BRIGHTSTAR GOLD PLANT REFURBISHMENT

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3. PLANT INSPECTION

The plant was originally built in 1984 and installed near Coolgardie.

It was relocated to Brightstar about 2009 , refurbished and upgraded with the addition of a second ball mill and a leach tank.

In about 2014 an upgrade project was commenced, a new secondary crusher, 450 kW ball mill, gravity circuit, and elution circuit were procured and partly installed.

The installation of this equipment was not completed, with the main outstanding items being electrical installation, piping, and access ways.

The plant has not been operated since this time and has been on care and maintenance.

Como Engineers have inspected the Brightstar plant several times between 2010 and 2020, and various reports have been compiled addressing Valuation, Refurbishment, Upgrade and Relocation.

There has been little change since 2014, when the plant was shut down for refurbishment and upgrade, except for the procurement and part installation of various items of equipment.

The estimated costs of refurbishment and upgrade are shown in the attached spreadsheet, Appendix 3.

Comments on major plant items follow:

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Crushing

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• ROM Bin and Grizzly- fair condition, needs some work.

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• Belt feeder- needs new, heavy duty conveyor belt.

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• Jaw crusher discharge conveyor- needs conveyor belt installed.

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• New secondary crusher- lubrication and electrics to be completed.

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• Tertiary crusher to be refurbished and installed.

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• Stacker conveyor- footings to be repaired.

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Grinding & Classification

• New feed bin required.

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• New lime silo required.

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• New Mill 1- electrics & lubrication to be completed.

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• Steel wave liners to be removed and replaced with rubber liners and lifters.

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• Mill 2- to be removed.

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• Mill 3 (previously Mill 1)- to be reinstalled.

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• New head to be procured and installed.

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• Trunnion bearing to be repoured, machined & installed.

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• New cyclone nest to be procured & installed.

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• New trash screen to be procured & installed.

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• Installation of gravity circuit, and concrete repairs to be completed.

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Leach, CIL, Tails Pumps

• New LT2 to be fabricated, using existing 7.5m diameter cans already on site, and install.

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• Procure & install new or s/h 30 kW agitator, bridge & access way.

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• Modify connecting launders to all CIL tanks.

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• Remove existing draft tubes & agitators on all CIL tanks.

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• Install new long shaft, 3 impellor agitators on all CIL tanks

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• Repair corroded area tank CIL2

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• Procure & install sieve bend screens on 5 CIL tank airlifts.

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• Extend & improve access ways.

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• Install new GD compressor.

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4. EXECUTION PLAN AND SCHEDULE

It is estimated that the refurbishment, upgrade and commissioning of the Brightstar Gold Plant will take approximately 3 months. But a further 3 months would be required to manufacture the new head for the Marcy ball mill.

A site crew of up to 10 persons will be required, including:

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• Construction Manager

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• Engineers of various categories as required

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• Draftsmen of various categories as required

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• Boilermaker/welders

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• Fitters

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• Crane driver

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• Rigger

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• Electricians

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• Trades assistants

Obviously the camp will need to be refurbished and commissioned before the crew mobilise.

To accurately scope and cost the proposed work, a detailed inspection needs to be carried out. This would require a crew of about 6 persons to spend a week on site, running up motors wherever possible, and carrying out a detailed inspection of all items of equipment on site that is to be reused. Bills of materials would be compiled, and a detailed scope of works, budget and schedule prepared.

The resulting report would estimate the cost to +/-15%, and could form the basis for an EPC contract.

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BRIGHTSTAR GOLD PLANT REFURBISHMENT

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5. DISCLAIMER

All reports, valuations and investigations made by Como are subject to the following disclaimer:

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• Whilst all reasonable care has been taken by Como in preparation of this report for the purpose stated herein, to the extent permissible by law Como does not accept any responsibility whatsoever for any consequence arising from the use or reliance upon any information contained herein.

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• This report is based in part on information which has been provided to Como by the client and/or others and which is not under the control of Como, and its directors, employees, consultants and agents do not warrant or guarantee the accuracy of the information contained herein.

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• Como believe that the conclusions, recommendations and valuations contained herein are reasonable and appropriate at the time of issue of this report and has used its best endeavours to ensure such. However the user is cautioned that the assumptions and inputs on which this report is based may change with time and are beyond the control of Como and any persons acting on behalf of them. The user should therefore ensure that the assumptions and inputs remain valid.

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• This report is prepared solely for the use of the person, company or entity to whom it is addressed. Como accepts no responsibility or liability to any third party for any damages whatsoever arising out of the use of this report by a third party.

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• This report must be read in its entirety and this disclaimer constitutes an integral part of the report. Any copy or reproduction of this report must contain this disclaimer.

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• Unless otherwise stated in this report, it is a technical report and does not cover any legal aspects that may be associated with the report and its subject matter. Any valuations do not include representation as to the legal title and/or ownership of any item or asset referred to or contained within the report and the assumptions made regarding such item or asset.

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• Unless specifically agreed otherwise in the contract of engagement, Como retains the intellectual property rights over the contents of this report. The client is granted a nonexclusive license to use that intellectual property rights for the purpose for which this report was commissioned.

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BRIGHTSTAR GOLD PLANT REFURBISHMENT

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If there are any questions, or additional information required, related to the material presented in the Study we would be very pleased to provide our assistance.

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Richard Ladyman

FIEAust, FAusIMM, CPMet

Principal Engineer- Como Engineers Pty.Ltd.

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Appendix 1: Budget

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17/03/2021

Equipment List for A1 Minerals Bright Star Plant, Laverton

Como Engineers Pty Ltd

Como Engineers

Mechanical & Mineral Process Engineers

PROJECT: Brightstar Plant Refurbishment LOCATION: Laverton, WA DATE: 12 March'21 REVISION: C Engineer RPL

BUDGET ESTIMATE TO REFURBISH AND UPGRADE THE BRIGHTSTAR GOLD PLANT

	Equip.	No.	Description:	Model:	kW	TOTAL	General Remarks:	Estimated Cost
Crushing & Scre	ening kW
RO	M Retaining Wall 1 Total 10t 0 d bin and Structure 1 25m3 0 Minor repairs required $ 20,000 Feed bin grizzly 1 500mm 0 Minor repairs required $ 10,000 Primary Feeder 1 belt feeder 9m long x 1.5m wide Conveyor 0 New belt required eder hydra pack 1 hydraulic adjustment 8 7.5 Service required $ 5,000 Scalping grizzly 1 110mm 0 rimary Crusher 1 24x36" Kue Ken double toggle 37 37 Service required $ 10,000 y Crusher Lube pump 1 0 0.37 y discharge conveyor 1 20m x 900mm 6 5.5 Belt to be refitted $ 2,000 Magnet 1 static 0 uble deck screen 1 Metso Nordberg Double deck CVB 1845 15 15 New Screen, installation incomplete $ 5,000 n product conveyor 1 20m x 600mm 6 5.5 nveyor to Secondary Crusher 1 20m x 600mm 1 1.1 Metal detector 1 Detec model HFE 03E 0 econdary crusher 1 Metso Nordberg cone GP 100 110 110 New, very small, installation incomplete $ 10,000
Fee Fe P Primar Primar Do Scree Screen O/S co S
	1 Pegson Telesmith 48" Refurb & replace Nordberg ?????
Crush stoc T Tertiary Tertiary Cr	er product conveyor 1 15m x 600mm 8 7.5 crusher lube 1 vane pump 4 4 kpile feed conveyor 1 20m x 600mm 6 5.5 ertiary Crusher 1 Symons 4 1/4 short head 250 Not installed, Refurb and install $ 30,000 Crusher Feed Conveyor 1 20m x 600mm 0 Refurb & install $ 20,000 usher Discharge Conveyor 1 20m x 600mm 0 Refurb & install $ 20,000 Control Room 1 2 x 2 x 2.5 0 Minor repairs required $ 10,000 and Screening Steelwork 1 20t Total 0 and Screening Concrete 1 64 cb /m 0 s and Instrumentation 1 Various 0 Screen, Cone Crusher, misc $ 100,000 0 Classification Circuit 0 Feed Bin 1 3m x 3m (25m3) 0 Replace with new 50 m3 bin $ 100,000 Lime silo 1 25 tonne 0 Replace with new 75 tonne silo $ 150,000 ime bin activator 1 0 Lime bin feeder 1 2 1.5 ll Feed Conveyor 1 35m x 600mm 8 7.5 Weightometer 1 Ramsey 0 Recalibrate $ 5,000 0 Ball mill No.1 1 Yantai Design&Research Engineering 2.7Dx3.6m\L 450 450 Supply and fit new rubber liners & lifters $ 150,000 Lube system 0 To be installed $ 10,000 radiator 1 Versacool 1 0.55 To be installed $ 1,000 jacking pump 1 8 7.5 To be installed $ 5,000 trommel 1 14mm aperture 0 To be installed $ 1,000 Mill Steel Base 1 Steel Structure Base 0 Complete access ways $ 20,000 Electrics 1 0 Supply and install $ 50,000 0 Ball Mill No2 1 Marcy 8ft diam x 8ft L rubber lined 270 Cracked head, remove and replace with No.3 Mill $ 15,000 Secondary lube 1 2 Remove radiator 1 Remove jacking pump 1 4 Remove trommel 1 14mm aperture Remove Mill Steel Base 1 Steel Structure Base Remove Ball Mill No.3 1 Allis chalmers 9ft d x 12ft L rubber lined 450 450 Replace head and trunnion $ 250,000 runnion bearing 1 Repour and machine 0 $ 10,000 1 Steel base 0 Install $ 20,000 Primary lube 1 2 2.2 Hosing & electrics $ 20,000 jacking pump 1 0 Install $ 2,000 trommel 1 0 Install $ 1,000 Electrics 1 0 Supply and install $ 50,000 0 discharge hoppers 1 0 Modify and install $ 20,000 l discharge pump 2 Warman 6/4 E AH (DUTY only) 110 220 Refurb $ 10,000 TechTaylor 1 200mm Warman (Rubber Lined) 0 Mill sump pump 1 Terra Titan 8 7.5 Refurb $ 2,000 Cyclones 3 Warman 10 inch CE - 20 degree cone angle 0 Remove $ 5,000 New cyclones 4 150 mm, new nest 0 Supply, Install & pipe up. $ 80,000 Trash screen 1 Malco 1200mm wide x 3.0m (0.8mm) 4 4 Remove $ 2,000 Trash screen 1 Linear vibrating screen, chutes & hopper 1200 x 2000 approx 1 1 Supply and install $ 50,000 ach Feed pumps 2 Warman 4/3 AH 37 74 Refurb $ 1,000 air compressor 1 Ingersol Rand model EL17 - 280 l/min 2 2.2 Service $ 5,000 w air compressor 1 Gardner Denver ????????? Control Room 1 2 x 2 x 2.5 0 Classification Steelwork 1 15t Total Milling & Clasification area 0 d Clasification Concrete 1 120 cb /m 0 s and Instrumentation 1 0 Misc $ 50,000 Gravity circuit 1 Concept screen, Knelson concentrator, Arcacia reactor 20 20 Repair concrete, supply & install piping & electrics $ 40,000 0 sPump Area 0 Leach Tank 1 7.5m D x11.9m H LT 1 0 Leach Tank 1 7.5m D x11.9m H LT 2 0 Fabricate from s/h cans and install $ 200,000 LT1 1 Agitator 780Q lightnin gearbox 32:1 30 30 LT2 1 Agitator 780Q lightnin gearbox 32:1 30 30 Purchase new or s/h $ 100,000 0 CIL Tank 1 4.5m D x 11m H CIL 1 0 Launder modifications $ 10,000 CIL Tank 1 4.5m D x 11m H CIL 2 0 Launder modifications, replate leaking area $ 20,000 CIL Tank 1 4.5m D x 11m H CIL 3 0 Launder modifications $ 10,000 CIL Tank 1 4.5m D x 11m H CIL 4 0 Launder modifications $ 10,000 CIL Tank 1 4.5m D x 11m H CIL 5 0 Launder modifications $ 10,000 CIL Tank 1 4.5m D x 11m H CIL 6 0 Launder modifications $ 10,000 0 ADS 1 -6 6 Agitator 11 66 Remove draft tubes and agitators $ 60,000 6 New Mixtec agitators 22 kW 22 132 Supply and install $ 360,000 terstage screens 6 wedge wire 0.85mm 630OD x 850mm L 3 18 rlift DSM screens 5 $ 60,000 Blower PDA Blower design 370m3/hr pressure 50kpag 11 0 bon recovery pump 8 0 Refurb $ 2,000 ded carbon screen 1200mm wide x 3m L 0 Refurb $ 3,000 Tails Screen 1 1200mm x 3m L twin motors - 1mm aperture 4 4 Replace with linear vib screen $ 50,000 Tailings pumps 2 Warman 6/4 AH 37 74 Refurb $ 10,000 ails sump pump 1 Terra Titan E22580 11 11 Refurb $ 2,000 n tank top of tank Steel Work 0 Extend walkways $ 50,000 CIL Tanks Area Concrete 1 0 s and Instrumentation 1 0 Compressor 1 GD 110 110 Install $ 20,000 1 Tank 0 Refurb $ 3,000 anide Mixing Tank 1 mono - E1XA551EMA 2 2.2 Refurb $ 1,000 nide dosing pumps 1 agitator - belt drive 11 11 Refurb $ 1,000 anide Mix Adigator 1 0 es, platforms, walkways 1 Concrete for Tanks 0 gent Area Concrete 1 Based on Areas 0 s and Instrumentation Atmospheric Zadra 0
Crushing Crushing
Electric
Milling,Gravity &
L Mi T Mill Mil Le Ne
Milling and Milling an
Electric
Leach, Cil & Tail
In Ai Car Loa T
Leach & Carbo Leach & Electric
Reagent Area
Cy Cya Cy Structur Rea Electric
Elution Area

3010.13 BrightStar Valuation 2017 Rev C

17/03/2021

Equipment List for A1 Minerals Bright Star Plant, Laverton

Como Engineers Pty Ltd

P La Electric Elut	Elution Column Heater iping and valves gging & Cladding s and Instrumentation 1 ion Area Concrete 1 ctrowinning Cells 1 ctrowinning Cells 1 winning Cell Rectifier 1 winning Cell Rectifier 1 Bullion Furance 1 Calcine oven 1 s, platforms, walkways 1 Room Area Concrete 1 s and Instrumentation 1 General 1 AAS 1 ab compressor 1 Lab air reciever 1 Furnace 1 Drying oven 1 Bottle roller 1 Pulveriser 1 Disc pulveriser 1 prep dust extraction fan 1 AS exhaust fan 1 et lab exhaust fan 1 Sieve Shaker 3 s, platforms, walkways 1 atory Area Concrete 1 s and Instrumentation 2 cess water pumps 1 otable water tank 1 table water pump lant Generators 6 ant Diesel Tanks 2 LPG tanks 6 Plant Offices 1 First Aid Room 1 Crib Room 1 Abultions Block 1 Plant Services 1 s,brackets and supports 1 1 1 eight 1 1 freight 1 Sub- Total Contingency TOTAL EXCLUSIONS ject and site management. n and messing 6 ent on site Total	AIRA 350KW - MODEL FTA350 0 Install & commission Supply, Install & pressure test Supply and install Supply and install 0 cells 600 x 600 x 1500mm L (9 cathodes)-Elution Polypropylene 0 Fire hazard- replace with SS cell cells 600 x 600 x 1500mm L (9 cathodes)- Gravity Polypropylene Fire hazard- replace with SS cell cell rectifier 10 10 Install & commission cell rectifier 0 Install & commission Kleenheat A100 0 Install & commission Furnace Industries 0 Install & commission Shed 20 x 20 x 10 Steel Shed 0 Currently used as a store room 20 x 20 x .15 = 60cb / m 0 5 5 Refurb screw compressor 8 7.5 160L model 05-WC003 0 Furnace Industries 0 0 0 Labtechnics LM1 0 Essa 3 3 3 3 0 Smiths 0 0 12 meter Transportables x 3 0 Transportables Supports only x 3 0 Three by containers 0 Southern Cross - model 250x200-315 11 22 Refurb 160KL -Rhino 0 3inch outlet 4 4 Refurb 0 Cat/Perkins 450 kW 0 Refurbishment by SR or replace 95,300KL each (self bunded)(RENTED) 0 Rented RENTED 0 Rented 12m x 3m transportables 5 5 Refurb 12m x 3m transportables 3 3 Refurb 12m x 3m transportables 3 3 Refurb 12m x 3m transportables 3 3 Replace Plant Services 0 Pipe racks,brackets and supports 0 0 50 50 Re-establish & refurbish 0 Certify 30% Excluding GST 1977 450 kW Cat/Perkins Refurb or replace existing gen sets Excluding GST	$ 10,000 $ 50,000 $ 10,000 $ 25,000 $ 32,000 $ 32,000 $ 5,000 $ 5,000 $ 5,000 $ 2,000 $ 10,000 $ 20,000 $ 10,000 $ 6,000 $ 2,000 $ 5,000 $ 5,000 $ 5,000 $ 70,000 $ 100,000 $ 10,000 $ 50,000 $ 40,000 $ 30,000 $ 2,778,000
Gold Room
Ele Ele Electro Electro Structure Gold
Electric
Laboratory
L Sample A W Structure Labor
Electric
Services / Power
Pro P Po P Pl
Piping
Pipe rack
Borefield
Mobilisation & fr
R&R travel
DeMobilisation &
			$ 833,400
			$ 3,611,400
			$ 500,000
Owners costs, pro Insurance Site accomodatio First fills Powerstation Diesel for equipm Tailings Dam Camp Refurb
			$ 100,000
			$ 200,000
			$ 400,000
			$ 650,000
			$ 12,000
			$ 1,862,000

3010.13 BrightStar Valuation 2017 Rev C

BRIGHTSTAR GOLD PLANT REFURBISHMENT

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Appendix 2: Photos

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ROM BIN

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CRUSHING CIRCUIT

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STACKER, MILL FEED BIN, LIME SILO, TANKS

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MARCY BALL MILL (MILL 3)

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MARCY BALL MILL BASE

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TAILS SCREEN

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BRIGHTSTAR GOLD PLANT REFURBISHMENT

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CV 2 CONCEPT GRAVITY CIRCUIT ELUTION COLUMN
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CIL TANKS

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NEW LT CANS

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PROCESS WATER POND AND TAILINGS DAM

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WESTERN END OF TAILINGS DAM

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BRIGHTSTAR CAMP 2013

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BRIGHTSTAR GOLD PLANT REFURBISHMENT

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Appendix 3: Quotes

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QUOTATION

Bradken[®]

Bradken Resources Pty Limited (ABN 82 098 300 988) A wholly owned subsidiary of Bradken Limited 170 Railway Parade Bassendean WA 6054 PO Box 51 Bassendean WA 6054 Australia Phone: 08 9449 8333 Fax: 08 9449 8338 Internet: www.bradken.com.au e-mail: bassendean@bradken.com.au

February 23, 2012

Como Engineers Pty Ltd

ATTENTION:

John Edwards / Mark Fidler

Your Enquiry: via email/Meeting Dated: Our Enquiry Number: Q9153A

We thank you for your enquiry and have pleasure in submitting the following quotation along with Bradken’s Terms and Conditions attached.

A Quantity 1 Drawing Number 18273-2029 Description Allis ball Mill trunnion replacement Price $128,650.00 Total

The replacement trunnion is based on sizes taken from the recent trunnion repair. The proposed trunnion is to be manufactured from a SG500-7 iron to Bradken specifications used on mill manufactured by Bradken. It has been allowed to be painted and rubber lined ready for installation.

B Quantity 1 Part Number Description Transport of trunnion casting from Ipswich to Bradken Bassendean workshop. Price $ 7,500.00 Budget Each

The trunnion casting is an over width load and may requires an escort for the journey.

PAYMENT Progressive. 20% on receipt of order. 30% on casting. Remainder on completion.

Ref: Q9153A Date:23/02/12 Page 2 of 2

DELIVERY:

EX works Bassendean

LEAD TIME: 24-26 working weeks from receipt of order and agreed commercial conditions.

DELIVERY:

FCA Perth Metropolitan Area

VARIATION:

1. Prices quoted are exclusive of GST. 2. Where not specified on drawing, cast dimensions will conform to ISO 8062 (or the equivalent AS1100.201) CT Grade 10 for iron and steel castings.

VALIDITY: Quotation is valid for a period of 30 days. CONTACT: For any further enquiries regarding this quotation, please contact Graham Brennan.

“Bradken, with it's own dedicated scrap metal processing operations in Qld and WA, has the ability to manage the recycling of your scrap metal. In Addition to those operations Bradken has staff in place to manage the logistics of scrap metal collection regardless of where the scrap is generated or located.

A distinct advantage in using Bradken for your scrap metal recycling is that you are dealing directly with the end user of the scrap. This enhances security of supply for your critical products in times of tight supply and demand for Ferro Alloys, and at competitive prices as worn scrap metal is used in place of more expensive Ferro Alloys in manufacturing processes.”

Yours faithfully,

Graham Brennan Engineering Manager

BRADKEN[® ]

170 Railway Parade Bassendean WA 6054 Australia PO Box 51 Bassendean WA 6934 Australia Tel: (08) 9449 8243 Fax: (08) 9449 8338 Email: gbrennan@bradken.com.au Internet: www.bradken.com