Lachlan Star Limited — Capital/Financing Update 2021

Sep 7, 2021

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Lachlan Star Limited (ASX:LSA) ACN 000 759 535

8 September 2021

Lachlan Star moves to 75% interest in the Koojan Cu-Ni-PGE Project

Lachlan Star Limited (ASX:LSA Lachlan Star or Company ) is pleased to advise shareholders that the Company has met total expenditure of in excess of $350,000 (inclusive of the initial expenditure) at the Koojan CopperNickel-PGE project ( Koojan Project ), which entitles it to an additional 25% interest in Coobaloo Minerals Pty Ltd ( Coobaloo ).

As announced 10 August 2021, Liontown Resources Limited ( Liontown ) can acquire 51% equity in the Koojan Project by spending a total of $4 million on exploration within 5 years, with a minimum expenditure commitment of $500,000 before having the right to withdraw. Upon Liontown earning 51% in the Koojan JV Project, the parties respective interests will be Liontown (51%), Lachlan Star (24%), Wavetime Nominees (25%).

This announcement was approved by the Board of Lachlan Star Limited.

For more information contact:

Gary Steinepreis Dan Smith Director Director and Company Secretary +61 8 9420 9300 +61 8 9486 4036

About the Koojan Project

The Koojan Project is located in the New Norcia region of Western Australia. The Project is owned by Coobaloo Minerals Pty Ltd and covers a contiguous area of 600km2. Koojan is located 80km north of the recent Julimar Ni-PGE-Cu discovery by Chalice Gold Mines Ltd, and is located in a similar geological setting. The Project is located within the Western Gneiss Terrain of the Archaean Yilgarn Craton of south-west Western Australia.

Lachlan Star Limited ABN 88 000 759 535 www.lachlanstar.com

Level 1, 33 Ord Street West Perth WA 6005 Tel: +61 8 9420 9300