• Laverton-Menzies Feasibility Study advancing TARGET200 growth strategy
• Phased development with low-capex Menzies start-up in CY26 and 1.0Mtpa Laverton mill construction
• Consolidated Ore Reserves of 235koz at 1.7g/t Au underpinning 5-year production plan averaging ~70koz p.a.

Brightstar Resources Limited (BTR, Brightstar or Company) presents the Laverton-Menzies Feasibility Study, which outlines a phased development approach to advance the Company's TARGET200 growth strategy. The study highlights the key outcomes, including a 5-year production plan averaging ~70koz p.a., underpinned by 235koz of Ore Reserves at 1.7g/t Au. The development strategy involves a low-capex start-up at the Menzies Gold Project through toll treating/ore sales, commencing in CY26, followed by the construction of a 1.0Mtpa processing plant at the Laverton Gold Project. This phased approach aims to generate early cash flow to fund the Laverton mill construction and open pit development, minimizing equity dilution and debt requirements. The Laverton-Menzies DFS outlines robust financial metrics, including a pre-tax, ungeared NPV8 of $316M and an IRR of 73% (at a spot gold price of $5,000/oz). The Company also provides an update on the Sandstone Gold Project, which is progressing towards a Pre-Feasibility Study in 1H CY26, targeting large-scale open pit operations.

The Laverton-Menzies DFS outlines a 5-year production plan averaging ~70koz p.a., with total gold production of 339koz. The Company is also targeting a Group production profile of +200koz p.a. by 2029, subject to the successful completion of the Sandstone PFS and subsequent DFS.

Brightstar is advancing a sequential multi-mine development approach for open pit and underground mines at its Laverton and Menzies projects, enabling strategic and staged allocation of capital. The Company is also progressing the Sandstone Gold Project towards a Pre-Feasibility Study in 1H CY26, targeting large-scale open pit operations as part of its TARGET200 growth strategy.