• Overwhelming support from shareholders enabled the Company to upsize the SPP to $18M
• Additional funds to accelerate exploration and development at the Sandstone Gold Project
• Total equity and debt funding to fully fund the Goldfields Project and advance Sandstone to Final Investment Decision

Brightstar Resources Limited (ASX:BTR) has successfully completed the Share Purchase Plan (SPP), which was tremendously well supported by shareholders. Applications under the SPP totalled approximately $25.8M, significantly exceeding the original $5M target. The Company has upsized the SPP to $18M to accommodate the strong demand from retail investors. The additional funds raised will allow Brightstar to accelerate exploration across its highly prospective Sandstone Gold Project, expanding near-term drilling programs and fast-tracking key development workstreams. The total equity and debt funding package is targeted to fully fund the capital requirements for the Goldfields Project, which is expected to deliver 75kozpa of gold production over six years, and provide the necessary funding to advance the Sandstone project to Final Investment Decision. Brightstar remains well advanced on a debt financing process and is targeting the completion of this in MarQ'25. The Company is entering an exciting phase, with a strong balance sheet, near-term site development activities, active drilling programs, and a clear pathway to unlocking the full value of its +4.0Moz Au gold portfolio.

The updated Definitive Feasibility Study for the Goldfields Project demonstrates an improved production profile, longer mine life, and compelling economics, with key metrics including average LOM annual production of 75koz, free cash flow (pre-tax) of $1.4B at A$7,000/oz gold price, and pre-tax IRR of 106%.