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Excellent Stope Performance as Mining Rates Ramping Up at Second Fortune

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to advise that Linden Gold Alliance Limited (subject to an off market takeover offer by Brightstar2) have recently completed its underground capital development program and is now in ore production on the 1085 level under its owner operator model. Production has also started from stoping activities (Figure 2) supplementing ongoing ore drive development along with commencement of surface road haulage activities from the Second Fortune gold mine (Figure 1).

HIGHLIGHTS

Current stoping and development production of 7,000 – 9,000 t/month, ramping up to the 12,000 – 15,000 t/month previously achieved mining rate at Second Fortune.Stoping recommenced in April on the 1085 level (Main Lode South), with stoping performing in-line with or better than expectations, achieving an average stoping width of ~1.5 metresRoad Haulage recommenced in April after significant weather event in previous monthSampled Main Lode ore vein grades within ore development drives exceeding +40g/t AuSurface & underground diamond drilling contractors engaged to commence resource definition and near-mine exploration programs in near term1

Brightstar’s Managing Director, Alex Rovira, commented“The recommencement of ore haulage activities at Second Fortune is exciting to see as the team builds momentum towards the steady state production rate of 12,000 – 15,000t per month by the September quarter 2024, which was the previous mining rate at Second Fortune.

Whilst the operational Linden team on site is focused on safe production, Brightstar and Linden geologists have worked together to design a surface and underground drill program to build confidence in the existing Mineral Resource Estimate as part of Brightstar’s broader +30,000m drilling program across the Menzies and Laverton portfolio in the near term. This forms part of Brightstar’s commitment to unlocking the inherent value in the Linden assets and advancing the enlarged groups’ assets towards development and monetisation of the combined resource base within the Eastern Goldfields.”

TECHNICAL DISCUSSION

The Second Fortune underground mine has a present production run rate of 7,000 – 9,000 tonnes per month with the mine expected to reach steady state production of 12,000 – 15,000 t/month in the September quarter 2024 consistently achieved in recent years. Stoping recommenced in April, along with ongoing capital (decline) and operating (ore drive) development activities in the mine.

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