BRIGHTSTAR RECEIVES FINAL APPROVALS FOR LADY SHENTON OPEN PIT

Green Light for Mining Operations at Menzies Goldfields Hub

Brightstar Resources Limited (ASX:BTR) has secured approval from the Department of Mines, Petroleum and Exploration (DMPE) for the Mining Development and Closure Proposal (MDCP) at its Lady Shenton open pit mine, located within the 1.6Moz @ 1.6g/t Au Goldfields Hub in Menzies.

The company confirmed that the Lady Shenton deposit (352koz @ 1.4g/t Au) is now ‘mine ready’, with the Native Vegetation Clearing Permit already granted. The deposit is set to be included in the upcoming DFS2.0, with ore to be hauled to Brightstar’s proposed carbon-in-leach (CIL) processing facility in Laverton.

Brightstar also noted that updated mine plans for both the Yundaga Underground and Lady Shenton deposits will be incorporated into the revised DFS2.0, due for release this quarter.

Brightstar’s Managing Director, Alex Rovira, commented:

We are pleased to receive approval for the Mining Development and Closure Proposal for the open pit development of the Lady Shenton mine in Menzies. This signifies a key milestone for the development of our Menzies assets, which once in operation will represent the first mining to occur since the successful Selkirk mining JV in 2024.

Lady Shenton is now ‘mine ready’ and represents a low capex, high-margin deposit for Brightstar that complements the broader Goldfields Hub development.

We look forward to releasing the updated DFS2.0 and providing a development update and timeline for the Menzies and Laverton Gold Projects this quarter.

Brightstar remains well placed in a strong gold price environment as an unhedged gold producer with our two owner-operator underground mines, a near-term developer of the 1.6Moz @ 1.6g/t Au Goldfields Hub with FID targeted in MarQ’26, and a material explorer with a large-scale, under-explored asset at the 2.4Moz @ 1.5g/t Au Sandstone Gold Project. With over 4Moz of Mineral Resources on granted mining leases, Brightstar has a strategic objective of developing both the Goldfields and Sandstone Projects in the coming years as part of our aspiration to be a multi-asset, mid-tier scale WA gold producer.