ASX ANNOUNCEMENT

COMPANY SNAPSHOT

LODESTAR MINERALS LIMITED ABN: 32 127 026 528

CONTACT DETAILS

Bill Clayton, Managing Director

+61 8 9423 3200

Registered and Principal OfficeLevel 2, 55 Carrington Street Nedlands, WA 6009

PO Box 985

Nedlands, WA, 6909 info@lodestarminerals.com.au www.lodestarminerals.com.au

CAPITAL STRUCTURE Shares on Issue:

450,594,938 (LSR)

Options on Issue: 43,550,127 (unlisted) 21,457,092 (listed)

ASX: LSR

PROJECTS Peak Hill - Doolgunna: Camel Hills - gold Neds Creek - gold Marymia - gold Imbin - gold and base metals

26th October 2016 Electronic lodgement

DRILL PROGRAM COMMENCES AT CONTESSA GOLD PROSPECT
  • Aircore drilling underway targeting extensions to supergene gold mineralisation.
  • Phase 1 drill program of 5,000m to test structural positions to locate primary source of gold.
  • Additional drilling planned for prospective granite margin target and Brumby area following receipt of Contessa results towards the end of November.
  • Work program fully funded following recent completion of underwritten entitlements issue.

West Australian gold explorer Lodestar Minerals Limited (ASX : LSR, "Lodestar" or "the Company") advises that aircore drilling has commenced at the Contessa gold prospect on the Company's 100%‐owned Ned's Creek project, located 170km north of Mekatharra, Western Australia.

The 5,000m aircore program will reduce the existing drill traverse spacing in areas of significant supergene mineralisation from more than 80m to 40m and target extensions to the Contessa discovery. The closer drill spacing is a more appropriate drill density required to define structurally‐ controlled gold targets. It will also improve the likelihood of intersecting shallow, narrower primary zones or structurally controlled mineralisation, oriented at an oblique angle to the current drilling.

The in‐fill drill program follows the successful completion of Lodestar's recent entitlements issue and represents the first phase of a more extensive program aimed at better understanding the gold potential of the Contessa intrusive complex.

Results from the drilling program underway are expected towards the end of November at this stage. Lodestar will provide a further update on the program at its conclusion.

Bill Clayton Media Enquiries:

Managing Director Michael Vaughan, Fivemark Partners michael.vaughan@fivemark.com.au m: +61 422 602 720

Lodestar Minerals Limited published this content on 26 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 October 2016 02:06:05 UTC.

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