Lachlan Star Limited — Capital/Financing Update 2021

Aug 9, 2021

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

10 August 2021

Completion of Koojan Binding Term Sheet

Lachlan Star Limited (ASX:LSA, Lachlan Star or the Company ) is pleased advise that it has completed the transaction under the Binding Term Sheet ( Koojan BTS ) with Liontown Resources Limited ( Liontown ) (ASX:LTR) which gives Liontown the right to acquire a 51% interest in the Koojan JV Project (refer ASX Announcement 27 January 2021). The parties have entered into the Koojan Joint Venture Agreement which supersedes the Koojan BTS and governs Liontown's farm-in to the Koojan JV Project.

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

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