BRIGHTSTAR RESOURCES LIMITED — Interim / Quarterly Report 2021

Jul 26, 2021

27 July 2021

JUNE QUARTER ACTIVITY REPORT

1 Overview of Activities

A summary of key activities for Brightstar Resources Limited ( Brightstar or the Company ) (ASX: BTR) is outlined below. The Company is pleased to report a productive quarter with a number of important milestones having been achieved.

1.1 Acquisition of exploration licence E38/3279

Brightstar executed a tenement acquisition agreement in respect of the acquisition of a prospective exploration licence in Western Australia, E38/3279 ( Tenement ), from Mr Peter Gianni for $50,000 in cash and a 1% net smelter royalty over the Tenement.

Please refer to the ASX announcements dated 6 April 2021 for further details.

1.2 Low cost to expand Brightstar gold mill

The Company received a report from highly regarded consultancy Como Engineers Pty Ltd which confirmed a low cost to expand the Brightstar Processing Plant to 650ktpa, in up to three months, at the Company’s flagship Brightstar Gold Project, near Laverton in the northern Goldfields (see BTR’s ASX Announcement of 5 May 2021).

1.3 Results of SAM Survey at Cork Tree Well

A Sub-Audio Magnetics ( SAM ) survey programme was carried out over the Company’s Cork Tree Well Project ( CTW ) in December 2020. Results from the SAM Survey indicates the extension of mineralisation at CTW and will be utilised to assist planning of further exploration drilling at CTW in the near-term (see BTR’s ASX Announcement of 10 June 2021).

1.4 Exploration and development work

Major work carried out by Brightstar during the quarter includes:

• a. Detailed reviews of Alpha and CTW models against drillhole database. Commenced significant data search in Stone Resources files to find drillhole logged lithology. At end of period there are 18,528 collars in the database and 13,058 holes with lithology.

• b. Extensional and infill drilling planned for Cork Tree Well and Alpha projects to both confirm and extend model. Holes have been selected for phase 1. Successful

drilling will be determined both by visual inspection of the intersected lithologies and grade.

• c. Drilling planned for highly prospective Hawks Nest project to determine anomalism on the lease package.

• d. Drill and Analytical procurement in progress. Discussions underway with several providers.

• e. Drill permitting underway for both the RC programs and the AC program.

• f. The BTR database is growing significantly with data for up to 18,528 holes now available. A significant amount of this quarter has been spent translating lithological data into logging codes so that everything in the new database will be presented consistently.

Development of the Company’s detailed Three-Year Strategic Plan is ongoing. Major work conducted during the quarter includes:

• a. Full data-set QA/QC and qualitative works: Including database works, full BTR project - QA/QC and total new DB rebuild. Grid conversion works, sourcing and confirming transformation calculations, etc.

• b. Internal block model works, Alpha and CTW: Review and re-build for independent cross checks of existing historical model.

• c. Alpha and CTW: Internal UG and OP conceptual mining reviews using updated current day parameters.

• d. Alpha and CTW: Exploration targets generated for Res Dev and extensional drill programs.

• e. Environmental works begun: GAP analysis for head start on Mining Approval works in 2022.

2 Payments to Directors

The Company made an aggregate payment of $28,000 to the directors as remuneration for the quarter.

3 Tenement Schedule

The mining tenements held by the Company at the end of the quarter and their location are set out as a Schedule to this report.

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This announcement has been approved by the Brightstar Board.

For further information, please refer to the Company’s ASX announcements or email info@brightstarresources.com.au

Yours sincerely

==> picture [89 x 28] intentionally omitted <==

William Hobba Managing Director

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TENEMENT SCHEDULE AS AT 30 JUNE 2021 GRANTED TENEMENTS BRIGHTSTAR (SOUTH LAVERTON)

LEASE	STATUS	LEASE MANAGER	TOTAL SHARES
M38/968	Granted	Desert Exploration Pty Ltd	100
M38/1056	Granted	Brightstar Resources Limited	100
M38/1057	Granted	Brightstar Resources Limited	100
M38/1058	Granted	Brightstar Resources Limited	100
M38/9	Granted	Brightstar Resources Limited	100
E38/2316	Granted	Brightstar Resources Limited	100
E38/2364	Granted	Brightstar Resources Limited	100
E38/2365	Granted	Brightstar Resources Limited	100
E38/2411	Granted	Brightstar Resources Limited	100
E38/3034	Granted	Brightstar Resources Limited	100
E38/3108	Granted	Brightstar Resources Limited	100
E38/3293	Granted	Brightstar Resources Limited	100
E38/3331	Granted	Brightstar Resources Limited	100
E38/3438	Granted	Brightstar Resources Limited	100
M38/241	Granted	Brightstar Resources Limited	100
M38/549	Granted	Brightstar Resources Limited	100
M38/984	Granted	Brightstar Resources Limited	100
P38/4377	Granted	Brightstar Resources Limited	100
P38/4385	Granted	Brightstar Resources Limited	100
P38/4431	Granted	Brightstar Resources Limited	100
P38/4432	Granted	Brightstar Resources Limited	100
P38/4433	Granted	Brightstar Resources Limited	100
P38/4444	Granted	Brightstar Resources Limited	100
P38/4445	Granted	Brightstar Resources Limited	100
P38/4446	Granted	Brightstar Resources Limited	100
P38/4447	Granted	Brightstar Resources Limited	100
P38/4448	Granted	Brightstar Resources Limited	100
P38/4449	Granted	Brightstar Resources Limited	100
P38/4450	Granted	Brightstar Resources Limited	100
P38/4508	Granted	Brightstar Resources Limited	100

GRANTED TENEMENTS BRIGHTSTAR NORTH (NORTH LAVERTON)

E38/2452	Granted	Brightstar Resources Limited	100
E38/2894	Granted	Brightstar Resources Limited	100
M38/346	Granted	Brightstar Resources Limited	100
M38/917	Granted	Brightstar Resources Limited	100
M38/918	Granted	Brightstar Resources Limited	100
P38/4108	Granted	Brightstar Resources Limited	100
E38/3198	Granted	Brightstar Resources Limited	100
GRANTED	TENEMENTS STANDALONE	(LAVERTON)
E38/2233	Granted	Brightstar Resources Limited	100

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GRANTED TENEMENTS HAWKES NEST (WEST LAVERTON)

LEASE	STATUS	LEASE MANAGER	TOTAL SHARES
M38/94	Granted	Brightstar Resources Limited	100
M38/95	Granted	Brightstar Resources Limited	100
M38/314	Granted	Brightstar Resources Limited	100
M38/381	Granted	Brightstar Resources Limited	100
GRANTED	MISCELLANEOUS LICENCES
L38/100	Granted	Brightstar Resources Limited	100
L38/123	Granted	Brightstar Resources Limited	100
L38/168	Granted	Brightstar Resources Limited	100
L38/169	Granted	Brightstar Resources Limited	100
L38/171	Granted	Brightstar Resources Limited	100
L38/185	Granted	Brightstar Resources Limited	100
L38/188	Granted	Brightstar Resources Limited	100
L38/154	Granted	Brightstar Resources Limited	100
L38/205	Granted	Brightstar Resources Limited	100

• Transfer of Tenements E38/3279 is underway as of 30 June 2021.

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