Lachlan Star Limited — Capital/Financing Update 2021

Apr 8, 2021

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Lachlan Star Limited (ASX:LSA)

ACN 000 759 535

9 April 2021

Completion of Killaloe gold project acquisition

Lachlan Star Limited (ASX:LSA Lachlan Star or Company ) is pleased to advise shareholders that, following successful due diligence and shareholder approval received 31 March 2021, it has completed the acquisition of the Killaloe gold project from Liontown Resources Limited (ASX:LTR). The consideration for the acquisition of Killaloe was 40,000,000 ordinary shares in the Company, which have been issued today. The full terms of the acquisition were announced on 27 January 2021.

Killaloe Gold Project

The Killaloe Project, located in southeast Western Australia approximately 600km east of Perth and 20-30km northeast of the historic gold mining town of Norseman ( Figure 1 ), comprises two, largely contiguous exploration licences (E63/1018 and E63/1713) and a separate mining licence (M63/177) covering a total combined area of 94km[2] . In addition to being prospective for gold, previous work has also recorded significant nickel and zinc mineralisation which warrants further assessment.

Lachlan Star is planning a work program for the Killaloe project. The program planned by Lachlan Star will consist of aircore drilling to follow-up defined structural zones and reverse circulation drilling at the Buldania Gold prospect to follow-up and define the high-grade gold mineralisation and determine the potential for gold mineralisation.

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

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Figure 1: Killaloe Gold Project Location

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

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