Earnings release
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1 Level 2, 36 Rowland Street Tel: (618) 9277 6008 info@brightstarresources.com.au ASX:BTR Subiaco WA 6008 Fax: (618) 9277 6002 brightstarresources.com.au ACN 100 727 491 30 JULY 2026 JUNE 2026 QUARTERLY ACTIVITY REPORT PROJECT & CORPORATE DEVELOPMENT o Board approves Final Investment Decision (FID) for the 100% owned Goldfields Project, advancing Brightstar’s TARGET200 strategy focused on near-term major production growth o All key regulatory approvals received, including Mining Development and Closure Proposal approval from the Department of Mines, Petroleum and Exploration and Part V Works Approval from the Department of Water and Environmental Regulation o Engineering, Procurement and Construction (EPC) contra ct executed with GR Engineering Services Limited (GRES) for the new 1.5Mtpa Laverton Processing Plant o Execution of a strategic framework agreement with ASX -listed Aquirian Limited (ASX:AQN) to partner for drill and blast mining services for the Goldfields Hub’s open pit operations o Post quarter -end, Brightstar entered into a Power Purchase Agreement and LNG Supply Agreement for the Laverton mill power station o Goldfields Project under construction due to commence gold production in June 2027 and targeted to produce ~75koz p.a. for an initial mine life of six years o Following the successful completion of the fifth and final processing parcel with Genesis Minerals, Brightstar repaid and closed out the existing working capital facility with Ocean Partners o The Company ended the quarter with $122 million in cash on hand and undrawn net bond proceeds of $161 million. Total liquidity of $283 million OPERATIONS o Safety performance continued to be strong across the Group, with no Lost Time Injuries ( LTIs) o Reconciliation received for the record processing parcel under the Ore Purchase Agreement with Genesis Minerals: ▪ ~140kt at 2.0g/t Au for ~7,900oz recovered gold which was Brightstar’s largest parcel in terms of tonnes and gold produced o Total ore processed through the Genesis OPA since commencement (March 2025): ▪ ~400kt @ 2.2g/t Au for ~24koz Au recovered ounces o Total OPA proceeds have enabled Brightstar to build out its ‘operational readiness’ to de - risk and enable the wider Goldfields project development, including the reinvestment of cash flows across the portfolio to support the wider Goldfields Project develo pment
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2 o In line with previous production outlook, mining production in the June quarter of 28kt @ 3.07g/t Au for 2,794oz from the Second Fortune mine ▪ Second Fortune mining is on -going, and expected to conclude mining operations in the September quarter when it transitions into care and maintenance (C&M) ▪ The Fish mine remains in C&M (per the DFS2.0 plan) ahead of targeted re -start of underground mining operations in 1H’CY27 EXPLORATION ACTIVITIES & MINERAL RESOURCES o Brightstar’s aggressive drilling continued during the quarter, with programs completed at several Sandstone Deposits. A total of 154 holes were drilled totalling 30,266m. o The drilling programs were primarily designed to continue to improve the quality of the Mineral Resources for inclusion in the upcoming pre-feasibility study – with a focus on infill drilling and diamond drilling for metallurgical and geotechnical testwork. o Excellent results were received with highlights including: Sandstone Hub o Vanguard Deposit: ▪ VNDD25001: 10.3m @ 6.80g/t Au from 138m o Bull Oak Deposit: ▪ BODD25003: 214.75m @ 0.97g/t Au from 32.75m ▪ BODD25001: 186.9m @ 0.87g/t Au from 113.75m o Indomitable East Deposit: ▪ INDD25007: 19.05m @ 3.80g/t Au from 106m, including 1.02m @ 54.5g/t Au from 102.03m o Havilah: ▪ HVDD25001: 3.9m @ 11.9g/t Au from 105m, including 0.98 @ 38.4g/t Au from 107.42m o Achilles: ▪ ACRC26014: 5m @ 5.34g/t Au from 102m and 4m @ 3.05g/t Au from 183m ▪ ACRC26002: 4m @ 4.5g/t Au from 82m o Two Mile Hill-Shillington: ▪ Multiple visible gold occurrences intersected in several diamond drillholes at the Two Mile Hill deposit, part of the 2.4Moz @ 1.5g/t Au Sandstone Gold Project ▪ The ~9,100m RC and diamond drilling program is designed to infill areas of the Mineral Resource at depth for inclusion in the pre-feasibility study targeted for delivery in 2H’CY26
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3 OPERATIONS OVERVIEW Brightstar Resources Ltd (Brightstar or the Company) (ASX: BTR) is pleased to announce updates on its operational activities for the June 2026 quarter as outlined below. Production Summary SepQ 2025 DecQ 2025 MarQ 2026 JunQ 2026 Unit Total Total Total Total Mining operations Development ore: Ore mined kt 33.0 30.8 7.4 4.0 Grade mined g/t Au 3.01 2.27 3.47 2.39 Contained gold oz 3,192 2,246 820 309 Stope ore: Ore mined kt 36.2 57.6 51.4 24.2 Grade mined g/t Au 3.27 3.03 3.29 3.19 Contained gold oz 3,810 5,600 5,431 2,486 Total ore mined: Ore mined kt 69.2 88.3 58.7 28.3 Grade mined g/t Au 3.15 2.76 3.31 3.07 Contained gold oz 7,002 7,846 6,250i 2,794i Metres advanced: Operating m 783 677 457 205 Capital (drives) m 340 399 249 - Capital (decline) m 368 304 186 - Total metres m 1,491 1,380 892 205 i. The Fish underground mine transitioned to interim care & maintenance in February 2026 as outlined in the DFS 2.0 mine plan and to coincide with the completion of the Genesis OPA, which contributed to reduced production during the March and June Quarters. FIFTH GOLD PROCESSING CAMPAIGN COMPLETED During the March quarter, ore processing for the fifth and final campaign was completed at Genesis Minerals Ltd’s (ASX:GMD) Laverton Mill under the Ore Purchase Agreement (OPA). This was reconciled during the June quarter. The fifth parcel comprised a record parcel size for the Company – both in terms of tonnes processed and gold poured – with a total of ~ 140kt of ore processed , at a reconciled blended head grade of 2.0g/t Au, which recovered ~7,900oz Au at an 89.1% recovery. This completed Brightstar’s OPA with Genesis under which total ore of ~400kt @ 2.2g/t Au was processed recovering ~24koz Au delivering $138M in gross sales proceeds.
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4 The OPA has enabled Brightstar to build out its ‘operational readiness’ in preparation for its gold production growth strategy in the Goldfields district with OPA cash flows reinvested across the portfolio – particularly the build out of the Company’s Laverton footpri nt to support larger scale mining operations as planned feed for Brightstar-owned processing infrastructure to leverage sunk capital across camps, haul roads, workshops and other supporting infrastructure. FINANCIAL SUMMARY During the June quarter, the Company continued to incur expenditure on development related to advancing the Goldfields Project in-line with the project development plan outlined in the DFS 2.0. Costs were incurred under the ‘Early Works Agreement’ Brightstar had in place with GRES up until the execution of the formal EPC contract, as announced on 26 May 2026. A total of $18.3M expenditure was incurred relating to the Laverton Mill construction during the June 2026 quarter. During the quarter, Brightstar incurred $8.7M of expenditure at the Second Fortune Mining Operation (including mining costs of $6.0M and $2.7M of other site related expenditure) associated with the build - up of stockpiles to provide early feed for the Laverton Mill. At the Fish operation, care and maintenance costs of $0.5M were incurred. The Company incurred exploration and studies expenditure of $ 11.7M and corporate expenditure of $4.1M for the June 2026 quarter. Figure 1: Brightstar’s Project Hubs
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5 MINING & DEVELOPMENT OPERATIONS OVERVIEW SECOND FORTUNE UNDERGROUND MINE During the June quarter, Second Fortune mined a total of 28.3kt @ 3.07g/t Au for 2,794oz, comprised of: o 4,022t @ 2.39 g/t Au of development ore, and o 24,244t @ 3.19 g/t Au of stope ore. Total development for the quarter was 205m, consisting of exclusively operating development meters with no decline or capital development occurring as Second Fortune transitions into C&M. Mining continues at Second Fortune with current Life of Mine ( LOM) plan scheduled to cease in SepQ’CY26 – all ore mined from Second Fortune from April 2026 is now being stockpiled for processing through Brightstar’s Laverton processing plant once commissioned in mid-CY27. Following LOM changes related to DFS 2.0 In January, the Decline was developed down to the 955 Level and capital development works ceased. Development ore driving continued on the 995 and 975 levels with stoping occurring on the on the 1015 and 995 levels. Second Fortune ended the quarter with a ROM stockpile of approximately 30,077t @ 3.09g/t for 2,983oz which will be stockpiled ahead of haulage to Brightstar’s Laverton Processing plant in CY2027. FISH UNDERGROUND MINE The Fish mine transitioned into C&M in March with non-essential mobile equipment and infrastructure being demobilised from site. In the June quarter, the Fish mine commenced preparations for the upcoming underground diamond drilling program, with additional management resourced to site and drill platforms setup underground. The drilling program subsequently commenced in the first week of July and is designed to improve the grade control data for the Stage 2 mine plan (infill) and test for extensions at depth beneath the current mine plane (growth drilling). The Fish ROM contains appr oximately 13,285t @ 2.93g/t for 1,252oz ready for immediate haulage on completion of the Brightstar Laverton Processing Plant. Additionally, the 1350 level underground contains two stoping blocks with drill stocks and is setup for immediate restart to mining in CY2027. The mine remains in a state of operational readiness, with limited care and maintenance costs owing to the minimal water reporting to the underground and dewatering activities only required for two days during each month.
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6 GOLDFIELDS DEVELOPMENT OVERVIEW In January 2026, following a competitive Front -End Engineering and Design ( FEED) process, Brightstar executed an Early Works Agreement ( EWA) with GR Engineering Services Limited. The EWA enabled critical pre-FID activities to commence, including procurement of long -lead equipment such as the SAG mill and variable speed drive, together with continued detailed engineering and operational readiness activities. This established a seamless pathway into full project execution upon board approval. In May 2026, Brightstar announced that its Board of Directors had approved Final Investment Decision (FID) for the development of its 100% -owned Goldfields Project in Western Australia. The FID followed receipt of the final key regulatory approvals, including the Mining Development and Closure Proposal (MDCP) from the Department of Mines, Petroleum and Exploration ( DMPE) and the Part V Works Approval from the Department of Water and Environmental Regulation (DWER). With these approvals in p lace, together with execution of the Engineering, Procurement and Construction (EPC) contract with GRES, Brightstar immediately transitioned from early works into full -scale construction of the new 1.5 Mtpa Laverton processing plant. Following FID, Brightstar immediately accelerate d the next phase of the Goldfields project development, including: • commencement of full-scale construction activities at the Laverton processing plant site in late May 2026; • finalisation and execution of remaining construction, infrastructure and operational contracts , including the execution of the Power Purchase Agreement and LNG Supply Agreement after the quarter-end; • full mobilisation of project delivery teams and contractors; • preparation for commencement of ope n pit mining at Lord Byron from late CY26 and the recommencement of stoping at the Fish underground mine in early CY27 (both located ~55km from the Laverton processing plant site); and • ongoing operational readiness, recruitment and commissioning planning . The Company remains focused on delivering the Goldfields Project safely, on schedule and within budget as it builds toward becoming a substantial mid-tier Western Australian gold producer. POWER CONTRACTS During the quarter, commercial negotiations and documentation with Brightstar’s preferred supplier for the LNG power solution for the Goldfields Project continued. After the quarter-end, Brightstar executed an integrated energy solution for the Laverton mill, comprising a long-term Power Purchase Agreement with PWR Hybrid Solutions and a dedicated LNG Supply Agreement with EVOL LNG, both portfolio companies of OCTA Group (OCTA). The integrated solution combines contractor-owned gas-fired power generation, LNG storage, regasification and fuel supply infrastructure under a coordinated energy platform. The LNG infrastructure includes three on-site LNG storage vessels and associated facilities supporting long-term fuel supply security.
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7 The integrated structure is intended to reduce interface risk by aligning fuel supply and power generation under a coordinated contractual framework. Key Benefits of LNG Relative to a Conventional Diesel-Fired Alternative Compared with a traditional diesel -powered solution, the inte grated LNG and gas -fired power model is expected to provide: • Lower exposure to diesel as a fuel and particularly diesel price volatility. • Improved long-term energy cost competitiveness. • Lower emissions intensity through the use of LNG-fuelled generation. • Reduced upfront project capital requirements through contractor ownership of power and fuel infrastructure. The Power Station has been designed with future generator connection provisions, spare electrical capacity and expansion infrastructure to accommoda te potential future increases in Laverton mill processing capacity. OCTA is an Australian energy infrastructure business providing energy solutions to the resources sector. Through PWR Hybrid Solutions and EVOL LNG, OCTA develops, owns and operates power generation, LNG storage and "virtual pipeline" distribution including associated energy infrastructure under long-term service agreements, enabling mining companies to access critical energy infrastructure without significant upfront capital investment. OCTA Group is backed by I Squared Capital, a global infrastructure investment manager with investments across energy, utilities, transport and industrial infrastructure sectors internationally. Figure 2 - Site remediation and establishment works underway (May 2026, pre-FID)
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8 Figure 3 - Construction activities underway (June 2026, post-FID) Top: First concrete pour for CIL circuit footings and SAG mill circuit construction (L); bulk earth works for crushing circuit (R) Bottom: Process and raw water ponds being constructed and NPI pad preparation (L); on-going earth works (R) Figure 4 - Design render of the 1.5Mtpa Laverton Processing Plant
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9 Figure 5 - Project Execution Timetable SANDSTONE PRE-FEASIBILITY STUDY Brightstar’s exploration and project development teams continue to make meaningful progress on advancing the Sandstone Gold Project through the pre -feasibility study (PFS) assessment towards development. PFS workstreams progressed rapidly during the quarter and remain on track for completion in the DecQ’26. The PFS will include the declaration of a maiden Ore Reserve and will assess an initial development scale with potential for future expansion. Brightstar is utilising a number of th e same experienced contractors and consultants who are involved in Brightstar’s Goldfields Project, delivering work flow synergies, technical continuity and efficiencies throughout the PFS. Processing Plant PFS d esign and engineeri ng of the processing plant has commenced with GR Engineering, with studies focused on optimising plant throughput and capital efficiency . Consistent with Brightstar’s development strategy for the Goldfields Processing Plant , the Sandstone processing plant is being designed with embedded optionality for increasing future throughput expansion . Brightstar and GRES are working collaboratively to ensure the design is scalable and capable of supporting long-term production growth.
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10 Metallurgical Metallurgical test work supporting the PFS is well advanced and on-going, with metallurgical drilling for PFS testwork largely completed. Permitting, Heritage & Water Environmental and technical studies are ongoing to support statutory approvals, with wor k focused on informing project design, minimising environmental impacts and facilitating timely progression through regulatory processes. Heritage assessments are being undertaken across the Sandstone Project area, with surveys completed or planned where appropriate to support proposed mining and key infrastructure areas. Water exploration activities have identified multiple potential sources, including paleochannel and hard rock aquifers, to support development and operations. Non-Process Infrastructure Infrastructure studies are underway, including non -process infrastructure, access and haul roads, communications and village. Sandstone benefits from being an area with extensive historical mining activity, with existing access and haul roads, existing camp and town facilities in place. Tailings Storage Facility Tailings Storage Facility design and engineering activities are underway . The identification of a suitable location and preferred construction methodology is nearing finalisation. Geotechnical Geotechnical drilling and sample collection for the PFS has been completed, with on -going logging and analysis underway. Mining Mine pit optimisation, design and scheduling activities are progressing across the study, with ongoing refinement of the proposed mining strategy. Construction & Operational Readiness An experienced owner's team has been established within Brightstar to deliver both the Goldfields and Sandstone Gold Projects. Brightstar is well positioned to execute these sequential projects by retaining its established project team and leveraging the experience, intellectual property, systems and delivery expertise developed through the Goldfields Project. This strategy is expected to enhance execution certainty, improve delivery efficiency and maximise the value of both asset bases and development plans. EXPLORATION ACTIVITIES OPERATIONS OVERVIEW SANDSTONE DRILLING ACTIVITIES During the June Quarter, Brightstar completed drilling campaigns at the Two Mile Hill -Shillington, Vanguard, B ull Oak, Havilah , Lord Nelson and Indomitable Camp Deposits at the Sandstone Project (Figure 6), and at the Montague-Boulder and Achilles Deposits at the Montague Project. Post quarter-end, the Mineral Resource Estimate ( MRE) for the Sandstone Gold Project was upgraded to 2.9Moz @ 1.3g/t Au.
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11 Figure 6: Geology of Brightstar’s Sandstone Project showing deposit and prospect locations. Bull Oak Prior to the recent MRE upgrade, t he Bull Oak deposit host ed a MRE of 2.5Mt @ 1.1g/t Au for 90koz Au , limited by sparse drilling below 100m vertical depth. Mineralisation is hosted by sheeted, shallowly east - dipping veins sets within a granodiorite intrusion, with further mineralisation hosted by banded iron units (BIFs) truncated by the intrusion. This geological setting is similar to that of Brightstar’s nearby Shillingto n- Two Mile Hill deposit (MRE of 0.7Moz @ 1.5g/t Au). The current program of RC and diamond drilling targeted areas below and adjacent to the existing resource, to facilitate the upgrade to the MRE delivered in July. The Bull Oak MRE was subsequently updated to 10.5Mt @ 1.0g/t Au for 322koz Au. A total of four diamond drillholes for ~1,00m were drilled from surface, primarily for structural and geotechnical data, as well providing mass for metallurgical test work for the Pre-Feasibility Study underway. A total of four diamond tails for 534m were completed to extend previous RC drill holes drilled in 2025 that failed to fully test the host granodiorite unit at depth. A total of 6 RC drill holes for 1,050m were drilled targeting extensions to BIF hosted gold mineralisation adjacent to the north -eastern contact with the granodiorite
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12 A further 8 RC drill holes with diamond tails (RCDT) were planned as depth extensions beneath the existing mineral resource (Figure 7), targeting the main stockwork, sh eeted quartz vein mineralisation historically mined in the main Bull Oak pit and historic workings . Drilling was designed to delineate the mineralised lodes and facilitate a Mineral Resource update incorporating these extensions. Significant results for the diamond drilling include: BODD25001 • 10.82m @ 2.91g/t Au from 271.68m • 13m @ 2.26g/t Au from 173m • 13.65m @ 1.16g/t Au from 113.75m • 6m @ 1.88g/t Au from 151m • 1.19m @ 11.3g/t Au from 254m The high -grade intervals were present within a wide halo of lower grade material , which reported an unconstrained intercept of 186.9m @ 0.87g/t Au from 113.75m in BODD25001 BODD25003 • 7m @ 17.7g/t Au from 138m, including 0.7m @ 136g/t Au from 144.3m • 0.78m @ 43.7g/t Au from 88m • 0.30m @ 175.3g/t Au from 277.4m • 0.30m @ 81.6g/t Au from 247.2m BODD25003 reported an unconstrained intercept of 214.75m @ 0.97g/t Au from 32.75m Significant results for the RCDT (RC pre-collars and diamond tails) drilling include: • 1m @ 21.9g/t Au from 310 in BORC25009 • 2m @ 7.49g/t Au from 16m in BORCD26001 • 0.48m @ 28.6g/t Au from 153.52m in BORCD26001 • 1m @ 14.1g/t Au from 172m in BORCD26001 • 7.5m @ 1.98g/t Au from 205.5m in BORCD26002 • 20m @ 1.07g/t Au from 224m in BORCD26002 • 5m @ 2.21g/t Au from 32m in BORCD26003 • 8m @ 5.09g/t Au from 75m in BORCD26003 , including 1m @ 17.4g/t Au from 77m in BORCD26003 Significant results for the RC drilling include: • 10m @ 4.00g/t Au from 80m, including 1m @ 31.4g/t Au from 82m in BORC26003 • 3m @ 24.3g/t Au from 94m, including 1m @ 59.5g/t Au from 94m in BORC26003 The high -grade intervals were typically present within wide haloes of lower grade material. Significant intercepts for these wide zones for the RCDT drilling include:
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13 • 177m @ 0.58g/t Au from 204m in BORCD25009 • 272.5m @ 0.53g/t Au from 16m in BORCD26001 Drilling is ongoing at Bull Oak targeting the area beneath the existing MRE, in order to delineate the mineralised lodes and facilitate a Mineral Resource update incorporating these extensions. Figure 7: Drill section at the Bull Oak Deposit. Looking Northwest. +/- 20m. Vanguard The Vanguard Camp at Sandstone hosts a MRE of 3.7Mt @ 1.8g/t Au for 217koz Au. Gold mineralisation at the Vanguard Camp is located along NW-SE trending structures within a differentiated dolerite unit. At Vanguard North, the lode geometry is relatively simple, hosted within a single quartz vein dipping shallowly to the southwest (Figure 8). The vein is consistently present featuring variable, nuggety gold mineralisation, which is considered typical for this type of narrow vein-hosted deposit. The larger Vanguard deposit consists of multiple mineralised lodes, predominantly dipping m oderately to the NE, although flat -lying supergene lodes are also present. High-grade mineralisation intersected in the drilling is typically associated with quartz veining and abundant pyrite. The recent program of 4 diamond drill holes for 613m were drilled primarily for structural, geotechnical and metallurgical purposes to support future resource upgrades and provide data for the Pre -Feasibility Study underway.
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14 Significant intercepts from the drilling include: • 10.3m @ 6.80g/t Au from 138m, including 2m @ 25.1g/t Au from 144m in VNDD25001 • 6.76m @ 2.12g/t Au from 126.24m in VNDD25001 Figure 8: Drill section at the Vanguard Deposit. Looking Northwest. +/- 10m Indomitable Camp The ‘Indomitable Camp’ is situated 12km southeast of Sandstone townsite. The camp comprises three main deposits (Indomitable, Indomitable East, and Musketeer), as well as three minor resources (Ladybird, Piper and Tigermoth). The Musketeer deposit is located with the Indomitable Camp, which hosts a total MRE of 8.2Mt @ 1.1g/t Au for 296koz Au The Musketeer deposit hosts a modest MRE of 1.4Mt at 1.3g/t gold for 59koz , with mineralisation associated with a northeast-striking banded iron formation (BIF) within a mafic-ultramafic package, crosscut by northwest-southeast structures. The recent program of 11 RC drillholes for ~1,440m was designed to infill mineralisation within a portion of the current mineral resource, ensuring sufficient drill spacing for future MRE updates to support Indicated resource classification for inclusion within the upcoming PFS.
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15 Significant results returned from recent infill drilling at Musketeer include: • 5m @ 2.37g/t Au from 73m in INRC26004 • 3m @ 4.79g/t Au from 81m in INRC26005 • 11m @ 1.07g/t Au from 138m in INRC26005 Indomitable East The Indomitable East deposit is situated within the Indomitable Camp and located 3km from the Musketeer deposit. The gold mineralisation at Indomitable East is hosted within a northwest -trending sequence of jaspilitic banded iron formation , intercalated with deeply weathered ultramafic rocks. The BIF outcrops at surface in the area and dips steeply to the north. Mineralisation is typically characterised by a visible zone of pyrite+/-quartz veining associated with the ba nd iron formation units and appears to increase when proximal to two interpreted cross cutting structures. The recent program of 2 diamond drill holes for 320m were drilled prim arily for structural, geotechnical and metallurgical purposes to support futur e resource upgrades and provide data for the Pre -Feasibility Study underway. Significant results from include: • 19.05 @ 3.80g/t Au from 106m, including 1.02m @ 54.5g/t Au from 102.03m in INDD25007 • 14m @ 1.41g/t Au from 62m in INDD25008 Mineralisation remains open at depth and along strike, and there is opportunity to further grow the current mineral resource with additional drilling. Lord Nelson The Lord Nelson Deposit hosts a total resource of 5.6Mt at 1.6g/t Au for 291koz Au. The mineralisation at Lord Nelson is mostly within a granodiorite intrusion, the Lords Granodiorite, with a high-grade zone on the contact between the granodiorite and the ultramafic footwall. In general, the mineralisation trends north - northwest, dipping approximately 50 0 to the west increasing to 70 0 with depth and plunging to the south. The mineralisation is typically characterised by a visible zone of pyrite+silica+biotite+/ -quartz veining that follows the ultramafic footwall contact. The recent program of 14 RC drill holes for ~2,500m was designed to infill mineralisation within a portion of the current mineral resource, ensuring sufficient drill spacing for future MRE updates to support Indicated resource classification. Assay results for 10 RC holes for ~1,870m were reported on 18 March 2026. Assays for the remaining 4 RC holes for 618m returned significant results including; • 11m @ 1.04g/t Au from 50m in LNRC26005 • 5m @ 1.77g/t Au from 67m in LNRC26003
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16 Havilah The Havilah and Maninga Marley deposits that comprise the Havilah Camp host a modest Mineral Resource of 1.2Mt @ 1.4g/t Au for 54koz Au and are located 2.5km south -west of Lord Nelson. The deposits are hosted by a northwest striking dolerite unit, bounded to the northeast by pillowed and amygdaloidal basalt, and to the southwest by ultramafic rocks. The recent program of 2 diamond drill holes for 212m was designed primarily for structural, geotechnical and metallurgical purposes to support future resource upgrades and provide further data for the Pre - Feasibility Study underway. Significant intercepts from the drilling include: • 3.9m @ 11.9g/t Au from 105m, including 0.98m @ 38.4g/t from 107.42 in HVDD25001 • 8.0m @ 4.32g/t Au from 31m, including 0.90m @ 16.7g/t from 36.5m in HVDD25002 • 0.8m @ 17.0g/t Au from 42m in HVDD25002 • 0.5m @ 23.9g/t Au from 44.3m in HVDD25002 • 0.5m @ 29.5g/t Au from 50.5m in HVDD25002 Two Mile Hill-Shillington The combined Two Mile Hill -Shillington deposit hosts a current MRE of 753koz @ 1.5g/t Au. The geology at the deposit includes a near vertical, intrusive tonalite stock, which cuts the local stratigraphy of mafic volcanics and Banded Iron Formations (BIF). Gold mineralisation is developed in the tonalite, the enveloping basalts, the BIF and the overlying laterite. High-grade mineralisation is particularly well -developed in the tonalite, hosted by quartz veins within the intrusion, although also extending i nto the neighbouring mafic package. This mineralisation is typically present as sheeted arrays of quartz veins throughout the tonalite, with a dominant shallow-to-moderate dip towards the northeast. The current diamond drilling program utilises RC pre -collars and diamond tails, totalling 20 drillholes for ~9,100m. The holes target deeper areas of the resource up to 550m below surface. This zone has been highlighted as having significant potential for future underground mining, based on the existing inferre d resource component. The drilling is targeted to upgrade the resource to the higher confidence indicated category, to facilitate inclusion in the upcoming Sandstone PFS. Visible gold was intersected in numerous intervals (Figure 9 and Table 1), predominantly in thin quartz veins within the Tonalite intrusion. Gold is often associated with pyrite, chalcopyrite, sphalerite and galena, with minor molybdenite also observed.
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17 Figure 9: Examples of Visible gold from 2026 diamond drilling at the Two Mile Hill Deposit; a) TMHRCD26013 at 268.25m, b) TMHRCD26010 at 174.7m, c) TMHRCD26010 at 438.75m, d) TMHRCD26009 at 302.6m Cautionary Statement Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. The samples were despatched for laboratory analysis during May and June and results will be reported upon receipt in accordance with the Company’s continuous disclosure policy in the com ing weeks . The visible gold grains are typically <1mm in diameter but vary from pinhead to match -head size. The percentage of gold within the mineralised zones is estimated as <0.01%.
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18 Table 1: Geological information for visible gold intersections in Two Mile Hill Diamond drillholes. Hole ID Hole Type From (m) To (m) Lithology Mineralisation TMHRCD26001 RCDT 148.88 149 Quartz veinlets hosted in basalt Gold TMHRCD26001 RCDT 472.29 472.35 6cm quartz vein hosted in Tonalite Gold, Pyrite TMHRCD26005 RCDT 249.24 249.29 5cm Quartz vein hosted in Tonalite Gold, pyrite TMHRCD26005 RCDT 279.54 279.58 Thin quartz vein hosted in Tonalite Gold, pyrite, sphalerite, galena TMHRCD26005 RCDT 332.68 332.8 12cm quartz vein hosted in Tonalite Gold, pyrite TMHRCD26005 RCDT 362.9 362.93 Thin quartz vein hosted in Tonalite Gold, sphalerite TMHRCD26009 RCDT 256.52 256.53 Thin Quartz vein hosted in basalt Gold TMHRCD26009 RCDT 302.3 302.8 50cm quartz vein hosted in Tonalite Gold, galena, sphalerite, molybdenite TMHRCD26009 RCDT 303.9 303.95 Thin quartz vein hosted in Tonalite Gold, galena TMHRCD26009 RCDT 328.3 328.45 15cm quartz vein hosted in Tonalite Gold, chalcopyrite TMHRCD26009 RCDT 336.78 336.85 7cm quartz vein hosted in Tonalite Gold, pyrite, galena TMHRCD26009 RCDT 469.28 469.6 ~30cm quartz vein in basalt Gold, galena TMHRCD26010 RCDT 174.67 174.72 Thin quartz vein in basalt Gold, pyrite, chalcopyrite TMHRCD26010 RCDT 260.65 260.7 Thin quartz vein hosted in Tonalite Gold TMHRCD26010 RCDT 266.7 266.8 Set of thin quartz veins within Tonalite Gold TMHRCD26010 RCDT 267.1 267.15 Set of thin quartz veins within Tonalite Gold TMHRCD26010 RCDT 293.3 293.4 Quartz vein hosted within Tonalite Gold, galena TMHRCD26010 RCDT 297.62 297.65 Thin quartz vein hosted in Tonalite Gold, pyrite TMHRCD26010 RCDT 306.53 306.55 Thin quartz vein hosted in Tonalite Gold TMHRCD26010 RCDT 359.91 359.93 Thin quartz vein hosted in Tonalite Gold, galena TMHRCD26010 RCDT 360.5 360.51 Thin quartz vein hosted in Tonalite Gold TMHRCD26010 RCDT 394.06 394.2 Set of thin quartz veins within Tonalite Gold, sphalerite, galena, pyrite TMHRCD26010 RCDT 434.6 434.67 Quartz vein within Tonalite Gold, galena, chalcopyrite TMHRCD26010 RCDT 438.74 438.76 Thin quartz vein hosted in Tonalite Gold, pyrite, galena TMHRCD26010 RCDT 464.21 464.23 Thin quartz veins on Basalt-Tonalite contact Gold TMHRCD26013 RCDT 214.37 214.48 Quartz vein hosted in Tonalite Gold, sphalerite TMHRCD26013 RCDT 247.58 247.6 Thin quartz vein hosted in Tonalite Gold, galena TMHRCD26013 RCDT 251.1 251.12 Thin quartz vein hosted in Tonalite Gold, galena TMHRCD26013 RCDT 268.23 268.26 Thin quartz vein hosted in Tonalite Gold, galena TMHRCD26016 RCDT 194 195 1m wide quartz vein in Tonalite Gold, galena TMHRCD26016 RCDT 210.38 210.41 Quartz vein hosted in Tonalite Gold, galena TMHRCD26016 RCDT 268.5 268.52 Thin quartz vein hosted in Tonalite Gold, chalcopyrite TMHRCD26016 RCDT 276 276.05 Thin quartz vein hosted in Tonalite Gold, galena TMHRCD26016 RCDT 294.08 294.23 Quartz vein hosted on Dolerite-BIF contact Gold, pyrite, galena
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19 Montague-Boulder The Montague-Boulder deposit is located 70km north of the town of Sandstone and forms part of Brightstar’s Montague Project (Figure 10). Mineralisation is observed in shallow WSW -dipping shear lodes, interpreted as thrust faults developed along flow boundaries within the basalt sequence, and extend eastward into a neighbouring granodiorite intrusion, the Montague Granodiorite. Near-surface mineralisation is significantly thicker, typically ranging from 15 to 30 metres, and likely due to in-situ supergene enrichment. In fresh rock, mineralisation generally measures 3 to 7 metres in thickness, with a high -grade zone of 1 to 3 metres wide. The recent program of 16 RC drill holes for ~1,900m was designed to infill mineralisation within a portion of the current mineral resource, ensuring sufficient drill spacing for future MRE updates to support Indicated resource classification. An additional hole was drilled beneath the current mineral resource to test the potential for up-dip extension of an interpreted high-grade lode. Significant assay results returned from infill drilling include; • 3m @ 3.73g/t Au from 80m in MBRC26002 • 3m @ 2.24g/t Au from 107m in MBRC26001 The extensional drill hole intersected mineralisation at the expected depth with results including: • 5m @ 1.67g/t Au from 119m in MBRC26016
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20 Figure 10: Deposits within the Montague Project, part of Brightstar’s Sandstone Hub Achilles The Achilles deposit is located 1km south of Montague-Boulder, and just north of the historic Rosie open pit mine. Mineralisation at Achille s is broadly associated with the sheared western margin of the Montague Granodiorite which forms a NNE tren ding structural corridor also hosting several other historical gold prospects. The mineralisation is associated with a series of moderately (55 -60°) east dipping shear structures with quartz veining which host primary mineralisation and occur within the co ntact zone between granodiorite and mafic lithologies. Mineralisation extends to the near surface and in places, directly beneath the base of transported cover. The latest phase of drilling at Achilles is designed to infill the current mineral resource a nd upgrade the classification of a significant portion of the resource from Inferred to Indicated. Significant assay results returned from infill drilling include; o 5m @ 5.34g/t Au from 102m in ACR26014 o 8m @ 1.53g/t Au from 154m in ACR26014 o 4m @ 3.05g/t Au from 183m in ACR26014 o 4m @ 4.50g/t Au from 82m in ACR26002
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21 o 1m @ 10.5g/t Au from 107m in ACR26004 o 16m @ 1.29g/t Au from 122m in ACR26023 CORPORATE Financial Commentary Quarterly Financials The Company’s Quarterly Cashflow Report (Appendix 5B) follows this activities report. As at 30 June 2026, the Company had $122 million in cash on hand and $161 million of undrawn net bond proceeds (classified as “restricted cash”). Total cash and restricted cash as at 30 June 2026 is $283 million. The undrawn Senior Secured Bond funds were transferred to escrow accounts until the satisfaction of customary conditions precedent for a fully secured bond of this nature, including complet ion of security documentation and satisfaction of a typical cost-to-complete test of each drawdown. Funds will be withdrawn from the escrow account to meet construction and development payments associated with the Goldfields Project. The total amount paid to related parties of Brightstar and their associates, as per item 6.1 of the Appendix 5B, was $295,000 for Directors fees, salaries and superannuation. Financial Summary During the June quarter, expenditure incurred included: - $18.3M relating to construction activities at the Laverton Mill; - $8.7M at the Second Fortune Mining Operation (including mining costs of $6.0M and $2.7M of other site related expenditure) associated with the build -up of stockpiles to provide early feed for the Laverton Mill. - Care and maintenance costs of $0.5M at the Fish operation; - $11.7M of exploration and studies expenditure; - Corporate expenses of $4.1M. During the June quarter, the Company fully repaid the revolving stockpile finance facility with Ocean Partners (US$11.5M) following receipt of net funds for the final processing campaign under the Ore Purchase Agreement with Genesis.
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22 Exploration Disclosures ASX Listing Rule 5.3.1: Exploration and Evaluation Expenditure during the Quarter was $9.2 million. ASX Listing Rule 5.3.2: Production and Development Expenditure during the Quarter was $21.1 million. ASX Listing Rule 5.3.3: The mining tenements held by th e Company at the end of the quarter and their location are set out as a Schedule to this report. This Quarterly Report has been authorised for release to ASX by the Board of Brightstar For further information, please refer to the Company’s ASX announcements or email info@brightstarresources.com.au
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23 ABOUT BRIGHTSTAR RESOURCES Brightstar Resources Limited is an emerging gold producer listed on the Australian Securities Exchange (ASX: BTR) and based in Perth, WA. The Company hosts a portfolio of high-quality assets hosted in the Tier -1 jurisdiction of Western Australia, with over 4.5Moz of Mineral Resources across the Goldfields and Sandstone regions, ideally located near key infrastru cture such as sealed highways and on granted mining leases for ready development. Brightstar is currently advancing the Goldfields Hub into near -term gold production, with a January 2026 updated Feasibility Study outlining the production of +75,000oz per annum for six years which delivered impressive financial metrics such as ~A$1 billion in LOM cashflows, a A$606 million NPV8 and 74% internal rate of return. Construction of the 1.5Mtpa processing plant is underway and Brightstar is targeting commencement of gold production in JunQ’CY27. Brightstar aspires to be a leading mid -tier gold miner via the staged development of its Goldfields Project and Sandstone Project, with current operations and proposed expansions providing a significant platform for growth.
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24 Consolidated Brightstar JORC Resource Table (as at 30 July 2026) Location Cut-off Measured Indicated Inferred Total g/t kt g/t koz kt g/t koz kt g/t koz kt g/t koz Au Au Au Au Au Alpha 0.5 - - - 371 1.9 22 1,028 2.8 92 1,399 2.5 115 Beta 0.5 345 1.7 19 576 1.6 29 961 1.7 54 1,882 1.7 102 Cork Tree Well 0.5 - - - 3,264 1.6 166 3,198 1.2 126 6,462 1.4 292 Lord Byron 0.5 311 1.7 17 2,104 1.5 105 2,974 1.5 145 5,389 1.5 267 Fish 1.6 25 5.4 4 199 4.5 29 153 3.2 16 376 4 49 Gilt Key 0.5 - - - 15 2.2 1 153 1.3 6 168 1.3 8 Second Fortune (UG) 2.5 24 15.3 12 34 13.7 15 34 11.7 13 92 13.4 40 Total – Laverton 705 2.3 52 6,563 1.7 367 8,501 1.7 452 15,768 1.7 873 Lady Shenton System 0.5/1.2 - - - 3,725 1.4 168 4,349 1.3 184 8,074 1.4 352 Yunndaga 0.5/1.2 - - - 2,172 2.2 152 923 1.8 54 3,095 2.1 206 Aspacia 0.5 - - - 137 1.7 7 1,238 1.6 62 1,375 1.6 70 Lady Harriet System 0.5 - - - 520 1.3 22 590 1.1 21 1,110 1.2 43 Link Zone 0.5 - - - 160 1.3 7 740 1 23 890 1 29 Selkirk 0.5 - - - 30 6.3 6 140 1.2 5 170 2.1 12 Lady Irene 0.5 - - - - - - 100 1.7 6 100 1.7 6 Total – Menzies - - - 6,744 1.7 362 8,080 1.4 355 14,814 1.5 718 Montague-Evermore 0.4 - - - 1,683 2.1 114 3,122 1.3 127 4,805 1.6 241 Whistler 0.4 - - - 1,258 2.0 79 565 1.4 25 1,823 1.8 105 Achilles / Airport 0.4 - - - 2,130 1.3 90 4,255 1.0 134 6,385 1.1 224 Duplex 0.4 - - - - - - 1,003 0.9 30 1,003 0.9 30 Julias1 (Attributable) 0.4 - - - 1,258 1.2 49 556 0.8 15 1,814 1.1 64 Lord Nelson 0.4 - - - 4,441 1.5 215 1,758 1.1 64 6,199 1.4 279 Lord Henry 0.4 - - - 1,523 1.6 76 883 1.4 40 2,406 1.5 116 Vanguard Camp 0.4 - - - 1,616 2.2 115 2,194 1.3 90 3,809 1.7 205 Havilah Camp 0.4 - - - - - - 1,359 1.2 54 1,359 1.2 54 Indomitable Camp 0.4 - - - 2,099 1.2 81 8,772 1.0 284 10,871 1.0 366 Bull Oak 0.4/0.8 - - - 1,481 0.9 44 9,056 1.0 278 10,537 1.0 322 Two Mile Hill / Shillington 0.4/0.73 - - - 4,673 1.3 190 9,901 1.7 541 14,574 1.6 731 McIntyre 0.4 - - - 513 1.2 20 77 0.9 2 589 1.2 23 Plum Pudding 0.4 - - - 498 1.0 17 52 0.9 1 550 1.0 18 Central Trend (Eureka, Wirraminna, 0.5 - - - 1,480 1.1 53 1,131 1.1 39 2,612 1.1 91 Old Town, Twin Shafts, Goat Farm, McClaren) Total – Sandstone - - - 24,652 1.4 1,144 44,684 1.2 1,725 69,337 1.3 2,868 Total – BTR (Attributable) 705 2.3 52 37,959 1.5 1,873 61,265 1.3 2,532 99,919 1.4 4,459 NOTE: • Note some rounding discrepancies may occur. Tonnes are reported as thousand tonnes (Kt) and rounded to the nearest 1000; Au o unces are reported as thousands rounded to the nearest 1,000. • Pericles, Lady Shenton & Stirling deposits consolidated into ‘Lady Shenton System’ at Menzies. • Warrior, Lady Harriet & Bellenger deposits consolidated into ‘Lady Harriet System’ at Menzies. • Julias is located on M57/427, which is owned 75% by Brightstar and 25% by Estuary Resources Pty Ltd. Attributable gold ounces to Brightstar include 75% of total • Mineral Resources are reported inclusive of Ore Reserves. • The Mineral Resource estimates include Inferred Mineral Resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Ore Reserves. There is also no certainty that Inferred Mineral Resources will be converted to Measured and Indicated categories through further drilling, or into Ore Reserves once economic considerations are applied. • Mineral Resources are depleted for historical mining.
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25 Forward-Looking Statements This document may include forward -looking statements. Forward -looking statements include, but are not limited to, statements concerning Bright star Resources Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may”, "potential," "should," and similar expressions are forward -looking statements. Although Brightstar believes that its expectations reflected in these forward - looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource. Competent Person Statement – Exploration The information presented here relating to exploration of the Menzies, Laverton and Sandstone Gold Project areas is based on information compiled by Mr Michael Kammermann, MAIG. Mr K ammermann is a Member of the Australasian Institute of Geoscientists (AIG) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a “Competent Person ” as that term is defined in the 2012 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012)”. Mr Kammermann is a fulltime employee of the Company in the position of Exploration Manager an d has provided written consent approving the inclusion of the Exploration Results in the form and context in which they appear. Competent Person Statement – Mineral Resource Estimates The information in the report to which this statement is attached that relates to Mineral Resources for the Sandstone deposits, excluding the Central Trend deposits, is based on information compiled or reviewed by Mr Graham de la Mare, a Competent Person who is a Fellow of the Australian Institute of Geoscientists. Graham de la Mare is a full -time employee of Brightstar Resources and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Perso n as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Results, Mineral Resources and Ore Reserves’. Graham de la Mare consents to the inclusion in this announcement of statements based on this information in the form and context in which it appears. This Announcement contains references to Brightstar’s JORC Mineral Resource estimates, extracted from the ASX announcements titled “Aurumin to acquire 784,000oz Au Sandstone Gold Project” dated 15 December 2021, “Cork Tree Well Resource Upgrade Delivers 1M oz Group MRE” dated 23 June 2023, “Maiden Link Zone Mineral Resource” dated 15 November 2023, "Aspacia deposit records maiden Mineral Resource at the Menzies Gold Project” dated 17 April 2024, “Brightstar Makes Recommended Bid for Linden Gold”, dated 25 Ma rch 2024, “Brightstar to drive consolidation of Sandstone Gold District” dated 1 August 2024, “Scheme Booklet Registered by ASIC” dated 14 October 2024, “Robust Mineral Resource Upgrades at Laverton and Menzies Underpins Future Mining Operations” dated 19 May 2025, “Menzies and Laverton Gold Projects Feasibility Study” dated 30 June 2025, “Brightstar pursues logical consolidation at Sandstone Hub” dated 21 July 2025, “Significant Growth in Menzies Mineral Resource” dated 11 December 2025, “Lord Byron MRE Up date” dated 12 January 2026 and “Sandstone Mineral Resource Grows to 2.9Moz” dated 15 July 2026. Brightstar confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the Mineral Resource estimates in the relevant market
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26 announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Comp etent Person’s findings are presented have not been materially modified from the original market announcements. Competent Person Statement – Ore Reserve Estimates The information in this announcement that relates to Ore Reserves for Lady Shenton, Cork Tr ee Well, Lord Byron Open Pits and the Yunndaga underground is based on, and reasonably represents, information and supporting documentation compiled by Mr Andrew Rich who is employed by Brightstar Resources Ltd and a member of the Australian Institute of M ining and Metallurgy , and, has sufficient relevant experience to advise Brightstar Resources on matters relating to mine design, mine scheduling, mining methodology and mining costs. Mr Rich is satisfied that the information provided in this announcement has been determined to a feasibility level of accuracy or better. Mr Rich consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Production Targets and Forecast Financial Information The production targets and forecast financial information disclosed in this announcement were disclosed in accordance with ASX Listing Rule 5.16 in Brightstar’s announcement ASX announcement ‘Menzies and Laverton Gold Projects Feasibility Study” dated 3 0 June 2025. Brightstar confirms that all the material assumptions underpinning the production target and forecast financial information in that announcement continue to apply and have not materially changed. Compliance Statement With reference to previo usly reported Exploration Results and Mineral Resources, other than those identified in this announcement, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market anno uncement and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that t he form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Production Targets and Forecast Financial Information The production targets and forecast financial information disclosed in this announcement were disclosed in accordance with ASX Listing Rule 5.16 in Brightstar’s announcement ASX announcement ‘Updated Goldfields Feasibility Study” dated 29 January 2026. Brightstar confirms that all the material assumptions underpinning the production target and forecast financial information in that announcement continue to apply and have not materially changed.
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27 TENEMENT SCHEDULE AS AT 30 JUNE 2026 LAVERTON Project Area Tenement ID Status Registered Holder / Applicant Interest / Ownership Central Laverton E38/2452 Granted Brightstar Resources Limited 100% E38/2894 Granted Brightstar Resources Limited 100% E38/3198 Granted Brightstar Resources Limited 100% E38/3279 Granted Brightstar Resources Limited 100% E38/3331 Granted Brightstar Resources Limited 100% E38/3434 Granted Brightstar Resources Limited 100% E38/3438 Granted Brightstar Resources Limited 100% E38/3500 Granted Brightstar Resources Limited 100% E38/3504 Granted Brightstar Resources Limited 100% E38/3673 Granted Brightstar Resources Limited 100% E38/4070 Application Brightstar Resources Limited 100% E38/4071 Application Brightstar Resources Limited 100% G38/39 Granted Brightstar Resources Limited 100% G38/41 Application Brightstar Resources Limited 100% L38/100 Granted Brightstar Resources Limited 100% L38/123 Granted Brightstar Resources Limited 100% L38/154 Granted Brightstar Resources Limited 100% L38/168 Granted Brightstar Resources Limited 100% L38/169 Granted Brightstar Resources Limited 100% L38/171 Granted Brightstar Resources Limited 100% L38/185 Granted Brightstar Resources Limited 100% L38/188 Granted Brightstar Resources Limited 100% L38/205 Granted Brightstar Resources Limited 100% L38/384 Application Brightstar Resources Limited 100% L38/401 Granted Brightstar Resources Limited 100% M38/9 Granted Brightstar Resources Limited 100% M38/94 Granted Brightstar Resources Limited 100% M38/95 Granted Brightstar Resources Limited 100% M38/241 Granted Brightstar Resources Limited 100% M38/314 Granted Brightstar Resources Limited 100% M38/346 Granted Brightstar Resources Limited 100% M38/381 Granted Brightstar Resources Limited 100% M38/549 Granted Brightstar Resources Limited 100% M38/917 Granted Brightstar Resources Limited 100% M38/918 Granted Brightstar Resources Limited 100% M38/968 Granted Desert Exploration Pty Ltd1 100% M38/984 Granted Brightstar Resources Limited 100% M38/1056 Granted Brightstar Resources Limited 100% M38/1057 Granted Brightstar Resources Limited 100% M38/1058 Granted Brightstar Resources Limited 100% P38/4433 Granted Brightstar Resources Limited 100% P38/4444 Granted Brightstar Resources Limited 100% P38/4446 Granted Brightstar Resources Limited 100% P38/4447 Granted Brightstar Resources Limited 100% P38/4448 Granted Brightstar Resources Limited 100% P38/4449 Granted Brightstar Resources Limited 100% P38/4450 Granted Brightstar Resources Limited 100% P38/4508 Granted Brightstar Resources Limited 100% P38/4545 Granted Brightstar Resources Limited 100% P38/4546 Granted Brightstar Resources Limited 100% P38/4558 Granted Brightstar Resources Limited 100% Second Fortune E39/1539 Granted Second Fortune Gold Project Pty Ltd 100% E39/1977 Granted Second Fortune Gold Project Pty Ltd 100% E39/2081 Granted Second Fortune Gold Project Pty Ltd 100% L39/12 Granted Second Fortune Gold Project Pty Ltd 100% L39/13 Granted Second Fortune Gold Project Pty Ltd 100%
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28 Project Area Tenement ID Status Registered Holder / Applicant Interest / Ownership L39/14 Granted Second Fortune Gold Project Pty Ltd 100% L39/230 Granted Second Fortune Gold Project Pty Ltd 100% M39/255 Granted Second Fortune Gold Project Pty Ltd 100% M39/649 Granted Second Fortune Gold Project Pty Ltd 100% M39/650 Granted Second Fortune Gold Project Pty Ltd 100% M39/794 Granted Second Fortune Gold Project Pty Ltd 100% Jasper Hills E39/2385 Application Lord Byron Mining Pty Ltd 100% E39/2386 Application Lord Byron Mining Pty Ltd 100% E39/2387 Application Lord Byron Mining Pty Ltd 100% E39/2592 Application Lord Byron Mining Pty Ltd 100% L38/120 Granted Lord Byron Mining Pty Ltd 100% L38/163 Granted Lord Byron Mining Pty Ltd 100% L38/164 Granted Lord Byron Mining Pty Ltd 100% L38/407 Granted Lord Byron Mining Pty Ltd 100% L39/124 Granted Lord Byron Mining Pty Ltd 100% L39/214 Granted Lord Byron Mining Pty Ltd 100% M39/138 Granted Lord Byron Mining Pty Ltd 100% M39/139 Granted Lord Byron Mining Pty Ltd 100% M39/185 Granted Lord Byron Mining Pty Ltd 100% M39/262 Granted Lord Byron Mining Pty Ltd 100% Note 1: Desert Exploration Pty Ltd, Second Fortune Gold Project Pty Ltd and Lord Byron Mining Pty Ltd are wholly-owned subsidiaries of Brightstar Resources Ltd MENZIES Project Area Tenement ID Status Registered Holder / Applicant Interest / Ownership Menzies E29/981 Granted Kalgoorlie Nickel Pty Ltd 100% Gold & Lithium rights L29/42 Granted Menzies Operational & Mining Pty Ltd 100% L29/43 Granted Menzies Operational & Mining Pty Ltd 100% L29/44 Granted Menzies Operational & Mining Pty Ltd 100% M29/14 Granted Menzies Operational & Mining Pty Ltd 100% M29/88 Granted Menzies Operational & Mining Pty Ltd 100% M29/153 Granted Menzies Operational & Mining Pty Ltd 100% M29/154 Granted Menzies Operational & Mining Pty Ltd 100% M29/184 Granted Menzies Operational & Mining Pty Ltd 100% M29/212 Granted Menzies Operational & Mining Pty Ltd 100% M29/410 Granted Menzies Operational & Mining Pty Ltd 100% P29/2450 Granted Menzies Operational & Mining Pty Ltd 100% P29/2511 Granted Menzies Operational & Mining Pty Ltd 100% P29/2512 Granted Menzies Operational & Mining Pty Ltd 100% P29/2513 Granted Menzies Operational & Mining Pty Ltd 100% P29/2514 Granted Menzies Operational & Mining Pty Ltd 100% P29/2515 Granted Menzies Operational & Mining Pty Ltd 100% P29/2538 Granted Menzies Operational & Mining Pty Ltd 100% P29/2539 Granted Menzies Operational & Mining Pty Ltd 100% P29/2578 Granted Menzies Operational & Mining Pty Ltd 100% P29/2579 Granted Menzies Operational & Mining Pty Ltd 100% P29/2580 Granted Menzies Operational & Mining Pty Ltd 100% P29/2581 Granted Menzies Operational & Mining Pty Ltd 100% P29/2582 Granted Menzies Operational & Mining Pty Ltd 100% P29/2583 Granted Menzies Operational & Mining Pty Ltd 100% P29/2584 Granted Menzies Operational & Mining Pty Ltd 100% P29/2585 Granted Menzies Operational & Mining Pty Ltd 100% P29/2649 Granted Menzies Operational & Mining Pty Ltd 100% P29/2650 Granted Menzies Operational & Mining Pty Ltd 100% P29/2651 Granted Menzies Operational & Mining Pty Ltd 100% Goongarrie E29/966 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% E29/996 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% E29/1062 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100%
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29 Project Area Tenement ID Status Registered Holder / Applicant Interest / Ownership P29/2380 Granted Kalgoorlie Nickel Pty Ltd Note 1, Note 2 100% Gold rights P29/2381 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2412 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2413 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2588 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2467 Granted Kalgoorlie Nickel Pty Ltd Note 1, Note 2 100% Gold rights P29/2468 Granted Kalgoorlie Nickel Pty Ltd Note 1, Note 2 100% Gold rights P29/2530 Granted Kalgoorlie Nickel Pty Ltd Note 1, Note 2 100% Gold rights P29/2531 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2532 Granted Kalgoorlie Nickel Pty Ltd Note 1, Note 2 100% Gold rights P29/2533 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2656 Granted Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2675 Pending Goongarrie Operational & Mining Pty Ltd Note 2 100% P29/2676 Pending Goongarrie Operational & Mining Pty Ltd Note 2 100% Note 1: Brightstar retains the Gold Rights for Tenements P29/2380, P29/2467, P29/2468, P29/2530 and P29/2532 which are held by Kalgoorlie Nickel Pty Ltd. Refer to Brightstar announcement dated 17 July 2023 Note 2: These tenements relate to a Joint Venture with Cazaly Resources Ltd. Refer to Brightstar announcement dated 12 February 2025 Note 3: Menzies Operational & Mining Pty Ltd and Goongarrie Operational & Mining Pty Ltd are wholly owned subsidiaries of Brightstar Resources Ltd SANDSTONE Project Area Tenement ID Status Registered Holder / Applicant Interest / Ownership Sandstone E57/1029 Granted Sandstone Exploration Pty Ltd 100% E57/1030 Granted Sandstone Exploration Pty Ltd 100% E57/1031 Granted Sandstone Exploration Pty Ltd 100% E57/1033 Granted Sandstone Exploration Pty Ltd 100% E57/1044 Granted Sandstone Exploration Pty Ltd 100% E57/1072 Granted Sandstone Exploration Pty Ltd 100% E57/1101 Granted Sandstone Exploration Pty Ltd 100% E57/1102 Granted Sandstone Operations Pty Ltd 100% E57/1108 Granted Sandstone Exploration Pty Ltd 100% E57/1140 Granted Aurumin Sandstone Pty Ltd 100% E57/1224 Granted Sandstone Operations Pty Ltd 100% E57/1225 Granted Sandstone Operations Pty Ltd 100% E57/1228 Granted Sandstone Exploration Pty Ltd 100% E57/1254 Granted Aurumin Sandstone Pty Ltd 100% E57/1273 Granted Aurumin Gidgee Pty Ltd 100% E57/1279 Granted Aurumin Sandstone Pty Ltd 100% E57/1294 Granted Aurumin Sandstone Pty Ltd 100% E57/1296 Granted Aurumin Sandstone Pty Ltd 100% E57/1302 Granted Aurumin Sandstone Pty Ltd 100% E57/1315 Granted Aurumin Sandstone Pty Ltd 100% E57/1317 Granted Aurumin Sandstone Pty Ltd 100% E57/1360 Granted Aurumin Sandstone Pty Ltd 100% E57/1366 Pending Aurumin Sandstone Pty Ltd 0%4 E57/1371 Granted Aurumin Sandstone Pty Ltd 100% E57/1373 Granted Aurumin Sandstone Pty Ltd 100% E57/1374 Pending Aurumin Sandstone Pty Ltd 0%4 E57/1375 Granted Aurumin Sandstone Pty Ltd 0%4 E57/1396 Granted Aurumin Sandstone Pty Ltd 100% E57/1413 Granted Aurumin Sandstone Pty Ltd 100% E57/1416 Granted Aurumin Gidgee Pty Ltd 100% E57/1417 Granted Aurumin Gidgee Pty Ltd 100% E57/1462 Granted Aurumin Sandstone Pty Ltd 100% M57/128 Granted Sandstone Operations Pty Ltd 100%
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30 Project Area Tenement ID Status Registered Holder / Applicant Interest / Ownership M57/129 Granted Sandstone Operations Pty Ltd 100% M57/654 Granted Sandstone Operations Pty Ltd 100% M57/352 Granted Aurumin Gidgee Pty Ltd 100% M57/646 Granted Sandstone Exploration Pty Ltd 100% M57/647 Granted Sandstone Exploration Pty Ltd 100% M57/650 Granted Sandstone Exploration Pty Ltd 100% M57/651 Granted Sandstone Exploration Pty Ltd 100% M57/652 Granted Sandstone Exploration Pty Ltd 100% M57/658 Granted Sandstone Exploration Pty Ltd 100% M57/663 Granted Sandstone Exploration Pty Ltd 100% M57/665 Granted Sandstone Exploration Pty Ltd 100% P57/1529 Granted Sandstone Exploration Pty Ltd 100% P57/1442 Granted Sandstone Operations Pty Ltd 100% Montague E53/2108 Granted Gateway Mining Limited 100% E53/2340 Granted Gateway Mining Limited 100% E57/405 Granted Gateway Mining Limited 100% E57/417 Granted Gateway Mining Limited 100% E57/687 Granted Gateway Mining Limited 100% E57/793 Granted Gateway Mining Limited / Estuary Resources Pty Ltd 75%3 E57/807 Granted Gateway Mining Limited 100% E57/823 Granted Gateway Mining Limited 100% E57/824 Granted Gateway Mining Limited 100% E57/874 Granted Gateway Mining Limited 100% E57/875 Granted Gateway Mining Limited 100% E57/888 Granted Gateway Mining Limited 100% E57/945 Granted Gateway Mining Limited 100% E57/1004 Granted Gateway Mining Limited 100% E57/1005 Granted Gateway Mining Limited 100% E57/1060 Granted Gateway Mining Limited / Element 25 Limited 80%3 E57/1095 Granted Gateway Mining Limited 100% E57/1113 Granted Gateway Mining Limited 100% E57/1145 Granted Gateway Mining Limited 100% E57/1147 Granted Gateway Mining Limited 100% E57/1215 Granted Gateway Mining Limited 100% E57/1423 Application Gateway Mining Limited 100% E57/1424 Granted Gateway Mining Limited 100% E57/1441 Granted Gateway Mining Limited 100% E57/1453 Granted Gateway Mining Limited 100% E57/1465 Granted Gateway Mining Limited 100% E57/1466 Granted Gateway Mining Limited 100% M57/48 Granted Gateway Mining Limited 100% M57/98 Granted Gateway Mining Limited 100% M57/99 Granted Gateway Mining Limited 100% M57/217 Granted Gateway Mining Limited 100% M57/429 Granted Gateway Mining Limited / Estuary Resources Pty Ltd 75%3 M57/485 Granted Gateway Mining Limited / Estuary Resources Pty Ltd 75%3 P57/1494 Application Gateway Mining Limited 100% P57/1495 Application Gateway Mining Limited 100% P57/1496 Application Gateway Mining Limited 100% Note 1: Sandstone Exploration Pty Ltd is a wholly owned subsidiary of Brightstar Resources Ltd Note 2: all tenements held by Gateway Mining Ltd (including Gateway Projects WA Pty Ltd) are being transferred to Montague Gold Project P ty Ltd, a wholly owned subsidiary of Brightstar Resources Ltd Note 3: E57/1060 are subject to a joint venture agreement, whereby t he Company holds an 80% interest and Element 25 Limited holds the remaining 20% interest. M57/429, M57/485 and E57/793 are subject to a joint venture agreement, whereby the Company holds a 75% interest and Estuary Resources holds the remaining 25% interest. E57/405,
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31 Project Area Tenement ID Status Registered Holder / Applicant Interest / Ownership E57/687, E57/793, E57/793, E57/823, E57/824, E57/875, E57/888, M57/217, M57/48, M57/485, M57/98, M57/99, P57/1409, P57,1410, P57/1411 and P57/1413 are subject to a farm-in joint venture agreement with Premier 1 Lithium Limited (ASX:PLC), whereby PLC will the right to acquire an 80% interest in the lithium rights (and related by-products). The Company retains the precious metals rights. Note 4: These tenements are the subject of pending ballot proceedings.
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Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity BRIGHTSTAR RESOURCES LIMITED ABN Quarter ended (“current quarter”) 44 100 727 491 30 June 2026 Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 1. Cash flows from operating activities 23,666 78,755 1.1 Receipts from customers 1.2 Payments for (9,187) (29,379) (a) exploration & evaluation (b) development - - (c) production (17,946) (75,402) (d) staff costs (1,684) (5,504) (e) administration and corporate costs (1,939) (4,529) 1.3 Dividends received (see note 3) - - 1.4 Interest received 2,816 3,207 1.5 Interest and other costs of finance paid (690) (3,365) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (other income) - 111 Other (care and maintenance costs) (379) (1,157) 1.9 Net cash from / (used in) operating activities (5,343) (37,263) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements (2,489) (4,468) (c) property, plant and equipment (15,970) (24,189) - Interest paid on qualifying asset (5,296) (5,296) (d) exploration & evaluation - - (e) cash acquired in asset purchase - 960
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 (f) other non-current assets (mine properties in development) (3,195) (24,366) 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (put option premium) - (455) 2.6 Net cash from / (used in) investing activities (26,950) (57,814) 3. Cash flows from financing activities - 242,500 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - 1,200 3.4 Transaction costs related to issues of equity securities or convertible debt securities 110 (11,672) 3.5 Proceeds from borrowings (*) 906 198,601 3.6 Repayment of borrowings (6,395) (54,186) 3.7 Transaction costs related to loans and borrowings (2,907) (9,231) 3.8 Dividends paid - - 3.9 Other (repayment of lease liabilities) (2,734) (6,926) Other (*) (restricted cash) (1,495) (155,485) Effect of exchange rate movement on the loan balance 176 595 3.10 Net cash from / (used in) financing activities (12,339) 205,396
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (12 months) $A’000 * During March 2026, the Company received bond proceeds of $158.5M (US$120M at 94% of par value) following settlement of a senior secured bond facility. Upon settlement, the bond proceeds, net of fees, were deposited into an escrow account pursuant to the terms and conditions of the bond. Whilst bond proceeds are held in escrow, they are classified as “restricted cash”. Access to the funds held in the escrow account will be restricted until the satisfaction of customary conditions precedent for a fully secured bond of this nature, including completion of security documentation and satisfaction of a typical cost-to-complete test of each drawdown. 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 166,615 11,664 4.2 Net cash from / (used in) operating activities (item 1.9 above) (5,343) (37,263) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (26,950) (57,814) 4.4 Net cash from / (used in) financing activities (item 3.10 above) (12,339) 205,396 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 121,983 121,983 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 121,983 166,615 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 121,983 166,615
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 295 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities Senior Secured Nordic Bond Facility 174,697 - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities 174,697 - 7.5 Unused financing facilities available at quarter end 174,697 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. During March 2026, the Company completed settlement of US$120M senior secured bond facility for the development of its Goldfields Project. The bond facility is administered by the bond trustee, Nordic Trustee ASA. The key terms of the senior secured bond are as follows: Issuer Brightstar Resources Limited Issue Date 18 March 2026 Guarantors Subsidiaries holding the Goldfields and Sandstone Projects Issue Amount US$120 million Coupon 12.5% p.a. Use of Proceeds Net proceeds from the Bond issue will be applied towards the development costs of the Goldfields Project Tenor 4 years with maturity date in March 2030 Security Senior secured Condition Precedent to disbursement of funds Drawdown of Bond proceeds is subject to satisfaction of customary conditions precedent for a fully secured bond of this nature, including completion of security documentation and satisfaction of a typical cost-to-complete test for each drawdown Issue Price US$1.00 at 94% par value Repayment Schedule Interest-only payments for the first 18 months, followed by scheduled quarterly amortisation of 7.5% of the Issue Amount per quarter for the next four quarters and then 10% per quarter for the next five quarters, with a bullet repayment of 20% of the Issue Amount at maturity
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (5,343) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - 8.3 Total relevant outgoings (item 8.1 + item 8.2) (5,343) 8.4 Cash and cash equivalents at quarter end (item 4.6) 121,983 8.5 Unused finance facilities available at quarter end (item 7.5) 174,697 8.6 Total available funding (item 8.4 + item 8.5) 296,680 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 55.5 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: N/A 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: N/A 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: N/A Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: ...................................30 July 2026........................................... Authorised by: .................................The Board.................................................. (Name of body or officer authorising release – see note 4)
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 6 + See chapter 19 of the ASX Listing Rules for defined terms. Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordan ce with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.