• Firm commitments to raise $175M via placement to institutional investors
• $5M share purchase plan for eligible shareholders
• Funds equity requirements for Goldfields and Sandstone projects
• Updated Goldfields DFS shows compelling economics

Brightstar Resources Limited has received binding commitments to raise $175 million via a two-tranche placement to tier one, long-only institutional investors, both existing and new shareholders. The company is also offering a $5 million share purchase plan to eligible shareholders. The capital raising proceeds will fully fund the equity requirements for the development and construction of the Goldfields Hub Project, including a 1.5Mtpa CIL processing plant, as well as advance the Sandstone Gold Project to Final Investment Decision. Brightstar's updated Definitive Feasibility Study (DFS 2.0) for the Goldfields Project has shown compelling operating and financial metrics, including an initial 6-year mine life producing over 75,000oz per annum from 505,000oz total mine production, generating around $1 billion in project free-cash flow and delivering a NPV8 of $606 million. Brightstar is well-placed to make a Final Investment Decision in Q1 2026 to enable the commencement of construction, with first gold production targeted in Q2 2027. The capital raising will also accelerate Brightstar's growth plans at the Sandstone Gold Project, for which a Pre-Feasibility Study and maiden Ore Reserve is due in early Q3 2026.

The Goldfields Project is expected to produce over 75,000oz per annum for 6 years, generating around $1 billion in project free-cash flow and delivering a NPV8 of $606 million (at A$6,000/oz gold price).

Brightstar is targeting commencement of gold production at the Goldfields Project in Q2 2027. The capital raising will also accelerate Brightstar's growth plans at the Sandstone Gold Project, with a Pre-Feasibility Study and maiden Ore Reserve due in early Q3 2026.