Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce that its Board of Directors has approved the Final Investment Decision (FID) for the development of its 100% owned Goldfields Project in Western Australia.

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HIGHLIGHTS

• Board approves Final Investment Decision (FID) for the 100% owned Goldfields Project, advancing Brightstar’s TARGET200 strategy focused on near-term major production growth
• All key regulatory approvals now 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
• Engineering, Procurement and Construction (EPC) contract executed with GR Engineering Services Limited (GRES) for the new 1.5Mtpa Laverton Processing Plant
• Construction now approved with early works, site remediation, detailed engineering, long-lead procurement and contractor mobilisation already well advanced
• Open pit mining at Lord Byron scheduled to commence later in CY26 to establish ore stockpiles ahead of mill commissioning in JunQ’27
• The Goldfields Project is fully funded to first gold in JunQ’27 following completion of the A$193 million equity raising and US$120 million bond debt financing earlier in CY26
• Goldfields Project to produce ~75koz p.a. for an initial mine life of six years, generating strong financial metrics (at A$6,000/oz gold price)¹:
  • ~A$1.0 billion of free cash flow
  • Pre-tax NPV8 of A$606 million and a compelling return of 74% IRR

The FID follows 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).

Together with execution of the EPC contract with GR Engineering Services Limited, these milestones enable immediate commencement of full construction of the new 1.5Mtpa processing plant at Laverton. The EPC contract sum is $110 million.

The Goldfields Project is expected to deliver average gold production of approximately 75koz p.a. over an initial six-year mine life, with strong potential for mine life extensions across the broader Goldfields portfolio and with the benefit of inbuilt processing capacity expansion upside.

Brightstar has already advanced multiple execution workstreams, including site clearing and remediation at the Laverton plant site, progression of detailed engineering, ordering of long-lead items under the GR Engineering Early Works Agreement and mobilisation of key development partners and the Owners’ team.

The Board’s FID approval has been underpinned by the Company’s funding position following settlement of the A$193 million equity² raising and US$120 million bond financing³.

This combined package fully funds construction and commissioning of the Goldfields Project through to first gold production whilst retaining a strong funding…

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce that it has awarded an initial three-year agreement for the supply of all open pit drilling and energetics services with Drillforce, a wholly owned subsidiary of Aquirian, for the Lord Byron open pit mine in our Goldfields Hub.

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The Lord Byron supply agreement is provided under an overarching executed Strategic Framework Agreement between for the Goldfields Hub operations on an initial five-year term plus extension options.

HIGHLIGHTS

• Brightstar has executed a strategic framework agreement (SFA) with Aquirian Limited (ASX:AQN)(Aquirian) for the supply of all drilling and energetics services for open pit mining
• The scope of the of the SFA is limited to the Goldfields Hub, for an initial period of up to five years
• In addition to the SFA, an initial three-year agreement for the supply of all drill and blast services has been executed with Drillforce WA Pty Ltd (Drillforce), a wholly owned subsidiary of Aquirian, for the Lord Byron open pit mine, targeted to commence operations in 2H’CY26
• Drillforce offers a fully integrated offering across the drill and blast value chain, including:
  • a proprietary technology that incorporates the automated Collar Keeper® System onto brand-new Epiroc T45 drill and blast rigs;
  • Western Australia’s largest independent Energetic material manufacturing & storage facility for mining applications in Wubin, WA
• Drillforce’s patented technology underpins the value proposition for Brightstar, achieving a balance between fragmentation and ore preservation which is expected to minimise mining dilution and optimising revenue, costs and ore recovery
• Optimised blasting practises enables reduced ore dilution, better dig productivity and lower load and haul costs in open pit mining
• The removal of traditionally used PVC piping in the blastholes also reduces direct costs and minimises possible blockages and crusher downtime in the processing circuit
• Drillforce’s automated design also minimises man time spent out of the drill rig, thereby improving the safety environment for those operators within the open pit

Brightstar’s Managing Director, Alex Rovira, commented:

“We are excited to be partnering with Aquirian for our open pit drill and blast services for the Goldfields Hub. Aquirian’s vertically integrated business and patented technology provides a material value proposition for Brightstar, with a strong operational focus on ore preservation during the drill and blast sequence which is anticipated to deliver material benefits to Brightstar’s open pit mining operations.

Importantly, Aquirian’s emphasis on precision, data-driven execution and safety performance is expected to support improved blast performance, optimise material movement and contribute to disciplined cost control, which are key drivers of sustainable production and margin performance to maximise value across our operations.

In addition to maximising the performance of our…