BRIGHTSTAR RESOURCES LIMITED — M&A Activity 2024

Jul 9, 2024

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10 July 2024

COMPLETION OF LINDEN GOLD ACQUISITION AND VESTING OF MD PERFORMANCE RIGHTS

Brightstar Resources Limited (ASX:BTR) ( Company or Brightstar ) is pleased to advise that it has completed its takeover of Linden Gold Alliance Limited ( Linden ).

As at the close of the offers on 30 May 2024, Brightstar announced it had a relevant interest in 96.75% of fully paid ordinary shares in Linden ( Linden Shares ) and 96.81% of options in Linden ( Linden Options ). Following completion of the compulsory acquisition processes, Brightstar has now acquired 100% of Linden Shares and Linden Options.

Brightstar has given notice that it has issued the consideration due to former Linden shareholders and Linden optionholders whose Linden Shares and Linden Options were compulsorily acquired to Linden, with the consideration being held on trust for those former Linden shareholders and Linden optionholders.

Brightstar advises that in-conjunction with the completion of the Linden acquisition, 20,000,000 Director incentive performance rights have vested following satisfaction of the performance conditions associated to those securities. Managing Director Alex Rovira has satisfied vesting conditions tied to Tranche’s 2 & 5 of his Director incentive performance rights. Tranche 2 was satisfied upon the Company announcing a 2012 JORC compliant mineral resource of at least 1.25Moz Au above 1.3g/t Au, and; Tranche 5 was satisfied upon the Company achieving a market capitalisation of greater than $50,000,000. Vesting conditions for Director incentive performance rights issued to the Managing Director were approved by shareholders of the Company at the General Meeting held on 29 March 2023.

As a result of the above vesting conditions now being met, 20,000,000 ordinary shares will be issued and quoted on ASX once the Company receives notice of exercise from the Managing Director in accordance with the terms and conditions of the Director incentive performance rights which are set out in the Notice of General Meeting lodged with ASX on 23 February 2023.

This ASX announcement has been authorised for release by the Company Secretary.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alex Rovira

Investor Relations

Managing Director Lucas Robinson Email: alex@brightstarresources.com.au Phone: +61 408 228 889 Email: lucas@corporatestorytime.com

info@brightstarresources.com.au ASX: BTR brightstarresources.com.au ACN 100 727 491

Level 2, 36 Rowland Street Subiaco WA 6008

Tel: (618) 9277 6008 Fax: (618) 9277 6002

ABOUT BRIGHTSTAR RESOURCES

Brightstar Resources Limited is a Perthbased gold exploration and development company listed on the Australian Securities Exchange (ASX: BTR).

In May 2023, Brightstar completed a merger with Kingwest Resources Limited via a Scheme of Arrangement which saw the strategic consolidation of Kingwest’s Menzies Gold Project and Brightstar’s Laverton Gold Project.

During 2023, Brightstar commenced mining operations at the Menzies Gold Project via a Profit Share Joint Venture, with first gold poured in March 2024 and $6.5M profit generated by Brightstar.

In March 2024, Brightstar announced the off-market takeover of unlisted WA-based gold mining company Linden Gold Alliance Limited which is currently operating the underground Second Fortune Gold Mine south of Brightstar’s Laverton project area.

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Brightstar Eastern Goldfield Asset locations

Hosted in the prolific Eastern Goldfields of Western Australia and ideally located proximal to significant regional infrastructure and suppliers, post completion of the Linden transaction Brightstar will emerge with a significant JORC reported Mineral Resource of 28.4Mt @ 1.6g/t Au for 1.45Moz Au.

Importantly, Brightstar owns the Brightstar processing plant (currently on care and maintenance), a 60-man accommodation camp and non-processing infrastructure, located 30km SE of Laverton and within 75km of +800koz Au JORC reported Mineral Resources within the Laverton Hub.

Brightstar’s strategy is to explore and develop its mineral resource inventory in the Tier-1 gold district of the Eastern Goldfields with the view to becoming a substantial ASX gold producer.

Consolidated JORC Resources of Laverton & Menzies Gold Projects

Location		Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Au Cut-off (g/t)	Kt	g/t Au	Koz	Kt	g/t Au	Koz	Kt	g/t Au	Koz	Kt	g/t Au	Koz
Alpha	0.5	623	1.6	33	374	2.1	25	455	3.3	48	1,452	2.3	106
Beta	0.5	345	1.7	19	576	1.6	29	961	1.7	54	1,882	1.7	102
Cork Tree Well	0.5	-	-	-	3,036	1.6	157	3,501	1.3	146	6,357	1.4	303
Total – Laverton		968	1.6	52	3,986	1.6	211	4,917	1.6	248	9,691	1.6	511
Lady Shenton System (Pericles, Lady Shenton,Stirling)	0.5	-	-	-	2,770	1.3	119	4,200	1.3	171	6,970	1.2	287
**Yunndaga **	0.5	-	-	-	1,270	1.3	53	2,050	1.4	90	3,310	1.3	144
Yunndaga (UG)	2.0	-	-	-	-	-	-	110	3.3	12	110	3.3	12
Aspacia	0.5	-	-	-	137	1.7	7	1,238	1.6	62	1,375	1.6	70
Lady Harriet System (Warrior, Lady Harriet,Bellenger)	0.5	-	-	-	520	1.3	22	590	1.1	21	1,110	1.2	43
Link Zone	0.5	-	-	-	145	1.2	6	470	1.0	16	615	1.1	21
Selkirk	0.5	-	-	-	30	6.3	6	140	1.2	5	170	2.1	12
Lady Irene	0.5	-	-	-	-	-	-	100	1.7	6	100	1.7	6
Total – Menzies		-	-	-	4,872	1.4	214	8,898	1.3	383	13,760	1.3	595
Total – BTR		968	1.7	52	8,858	1.5	425	13,715	1.4	625	23,351	1.5	1,106
Refer Note 1 below. Note some rounding discrepancies may occur. Pericles,LadyShenton & Stirlingconsolidated into LadyShenton System;Warrior,LadyHarriet & Bellenger consolidated into LadyHarriet System.
Note 1:This Announcement contains references to Brightstar’s JORC Reported Mineral Resources, extracted from the ASX announcements titled “Maiden Link Zone Mineral Resource” dated 15 November 2023, “Cork Tree Well Resource Upgrade Delivers 1Moz Group MRE” dated 23 June 2023, and "Aspacia deposit records maiden Mineral Resource at the Menzies Gold Project” dated 17 April 2024.

Linden Gold Alliance JORC Mineral Resources

Location		Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Au Cut-off (g/t)	Kt	g/t Au	Koz	Kt	g/t Au	Koz	Kt	g/t Au	Koz	Kt	g/t Au	Koz
Lord Byron	0.5	453	1.8	26	1,141	1.6	58	2,929	1.7	160	4,523	1.7	244
Fish	0.6	26	7.7	6	149	5.8	28	51	4.3	7	226	5.7	41
Gilt Key	0.5	-	-	-	15	2.2	1	153	1.3	6	168	1.3	8
Jasper Hills Subtotal		479	2.1	33	1,305	2.1	87	3,133	1.7	173	4,917	1.8	293
Second Fortune	2.5	17	16.9	9	78	8.2	21	71	12.3	28	165	10.9	58
Total		496	2.6	42	1,384	2.4	108	3,2.4	2.0	201	5,082	2.1	351
Refer Note 2 below. Note some rounding discrepancies may occur.

Note 2: This Announcement contains references to Linden’s JORC Reported Mineral Resources, extracted from the ASX announcement titled “Brightstar Makes Recommended Bid for Linden Gold”, dated 25 March 2024. The resource remains undepleted from mining activities.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Brightstar Resources Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may”, "potential," "should," and similar expressions are forward-looking statements. Although Brightstar believes that its expectations reflected in these forward- looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource.

Compliance Statement

With reference to previously reported Exploration Results and Mineral Resources, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.