Lachlan Star Limited — Capital/Financing Update 2014

Nov 30, 2014

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LACHLAN STAR LIMITED

1 December 2014

RECEIPT OF FINAL US$2 MILLION FROM THE SALE OF NON CORE MINING PROPERTIES AND UPDATE ON SATISFACTION OF FINANCING CONDITIONS

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR DIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Perth, Western Australia: Gold miner, Lachlan Star Limited (“Lachlan Star” or the “Company”) (ASX and TSX: LSA) is pleased to announce the receipt by its Chilean subsidiary, Compañía Minera Dayton (“Dayton”), of the final US$2 million from the US$3.5 million transfer of one group of mining properties to Compañía Minera Teck Carmen de Andacollo (“CDA”) and the grant of a five year purchase option over further mining properties to CDA, announced on 15 September 2014.

In addition, as a condition of the working capital financing offer from Hamilton Place Associates LLC (“HPA”) announced on 16 October 2014, the Company was required to hold a minimum of US$4 million cash and cash equivalents on a consolidated basis at 30 November 2014. This was the final condition to be satisfied by the Company, HPA’s representatives having previously made a site visit to the CMD Gold Mine.

The Company was on target to achieve this US$4 million cash balance condition including the final gold pour receipt for the month that, in the normal course of events, would have been received on Thursday 27 November. Dayton was advised in late November that its customer, Johnson Matthey, would be closing their offices not only on the national Thanksgiving holiday on 27[th] November, but also on the “Black Friday” holiday on 28 November,

PO Box 1523 West Perth, WA 6872 Tel +61 8 9481 0051 Fax +61 8 9481 0052 www.lachlanstar.com.au

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the last business day of the month. Johnson Matthey advised payment from this gold pour would not be made until Monday 1 December 2014, which will remain the case despite Dayton’s best efforts to achieve earlier payment. The Company is determining whether its contractual arrangement with Johnson Matthey allows it to categorise the proceeds from this gold pour as a “cash equivalent” at 30 November.

The Company remains in discussions with HPA regarding the availability of a working capital facility and anticipates

providing a further update to the market later in December.

RA Anderson Company Secretary

For further information please visit www.lachlanstar.com.au or contact:

Bob Anderson Company Secretary Lachlan Star Tel: +61(0)8 9481 0051 Email: bob.anderson@lachlanstar.com.au

About Lachlan Star Limited

Lachlan Star Limited is a gold mining company headquartered in Perth, Western Australia. The Company is focused on optimizing free cash flow from its CMD Gold Mine in Chile. The Company has a board of directors and management team with an impressive track record of advancing resource projects through to production. Lachlan Star’s current projects include a 100% interest in the CMD Gold Mine in Chile, a 49% interest in the Bushranger Copper Project in New South Wales and a 100% interest in the Princhester magnesite deposit in Queensland.

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