• GR Engineering Services Limited selected as preferred EPC contractor for Laverton Processing Plant
• Early Works Agreement executed to enable critical long-lead orders and continued detailed engineering
• Final Investment Decision targeted for late MarQ'26, with construction to commence under fixed-price EPC contract

Brightstar Resources Limited (ASX:BTR) has engaged GR Engineering Services Limited (ASX:GNG) as the preferred contractor for the engineering, procurement and construction of the Laverton Processing Plant and associated facilities for the 100%-owned Goldfields Gold Project. An Early Works Agreement has been executed, enabling long-lead time orders such as the SAG mill to be placed, and continued detailed engineering and operational readiness activities to be undertaken. Final Investment Decision is targeted for late in the MarQ'26, with construction of the plant to commence under a fixed-priced EPC contract structure. The engagement of GR Engineering ensures sustained momentum for the development of the Laverton processing plant and is another important milestone in de-risking the near-term development of the Goldfields Project. GR Engineering has a proven track record in delivering the design, engineering and construction of gold projects in Western Australia, with a reputation for on-time and on-budget delivery of EPC projects. The fixed-price EPC structure with cost, schedule and performance guarantees delivers a de-risked engineering and construction partner for Brightstar to ensure the delivery of the DFS 2.0 operational and financial metrics. With the equity financing completed and the debt financing process progressing, all approvals required either granted or lodged awaiting grant, Brightstar is well placed to build the Goldfields Project and grow its gold production profile.

The DFS 2.0 for the Goldfields Project is set to generate outstanding financial returns, with a robust production profile and significant free cashflow. Key metrics include an average LOM annual production of 75koz, peak funding requirement of A$178-205M, free cash flow (pre-tax) of A$1.4-1.6B, pre-tax NPV8 of A$606-1,063M, and pre-tax IRR of 74-121% (at A$6,000-7,500/oz gold price).

Brightstar's indicative pathway to production growth remains on track, with the Goldfields Project targeted to commence first gold production in JunQ'27. This near-term production will underpin Brightstar's future cashflows, which will provide the working capital to unlock the material value of the significant Sandstone Gold Project.