• Cazaly has exercised its option to proceed with the earn-in Joint Venture with Brightstar
• Cazaly can earn up to 80% interest in the Goongarrie Gold Project by sole funding $3 million exploration
• Exploration activities have commenced, including reprocessing geophysical data and drill planning

Brightstar Resources Ltd (Brightstar) is pleased to announce that Cazaly Resources Limited (Cazaly) has exercised its option to proceed with the earn-in Joint Venture over the Goongarrie Gold Project (Project). This follows the satisfaction of conditions precedent, including technical and legal due diligence by Cazaly. Under the terms of the Joint Venture Agreement, Cazaly may earn up to an 80% interest in the Project by sole funding exploration expenditure totaling $3 million across three stages: an initial $1 million within 12 months to earn a 25% interest; an additional $1 million over a further 18 months to earn an additional 26% interest (aggregate 51% interest); and a further $1 million over 18 months to earn an additional 29% interest (aggregate 80% interest). Upon Cazaly earning an interest in the Project, Brightstar and Cazaly will form a Joint Venture to further explore and potentially develop the Project. Exploration activities have commenced, with Cazaly reprocessing geophysical data across the project area and prioritising drill planning at the Duke of York and Hastings gold prospects. Brightstar remains committed to its exploration strategy focused on growing and improving existing mineral resources at projects with granted mining leases and near-term commercialisation potential, including the Sandstone, Menzies, and Laverton hubs. The Goongarrie Joint Venture supports this focus by allowing Brightstar to divest non-core exploration assets while retaining upside through its retained interest.

Brightstar remains committed to its exploration strategy focused on growing and improving existing mineral resources at projects with granted mining leases and near-term commercialisation potential, including the Sandstone, Menzies, and Laverton hubs. The Goongarrie Joint Venture supports this focus by allowing Brightstar to divest non-core exploration assets while retaining upside through its retained interest.