AuStar Gold Limited provided the following update to shareholders regarding the advancements in development of multiple reef zones within the company's Morning Star Gold Mine. Encouraging regional exploration results have also been found within the highly prospective tenement holdings in the Walhalla-Woods Point-Jamieson region, Victoria. The Morning Star Gold Mine has been mined since the 1800s producing >830koz Au at approximately 26.5g/t Au. The mine currently has development and production stopes between the 7 Level and 8 Level on McNally Reef producing grades at >8g/t Au. Austar Gold also has a significant exploration potential with 670km2 of tenements that has produced over 1.6 million oz Au in a 6 million oz Au belt known as the Walhalla Synclinorium. This belt is known for the famous Cohen Reef, 1.4 million oz Au. Following the completion of major underground mapping and sampling programs, in conjunction with a review of sampling from 2010-2012, the number of potential mining zones within the Morning Star Gold Mine has been significantly increased. Planning and scheduling are now underway in the following development areas: Development of high-grade target intersections at Maxwell and Stone Reefs in the 8 Sub Level have commenced. Mapping and sampling have identified thick high-grade Au ore in Whitelaw Reef. Development will commence in the second half of 2021. Mining of Dickenson Reef and Exhibition Reef (the latter, formerly known as Floor 2) will commence in the last quarter of 2021. Multiple high-grade zones from drilling and rock sampling by Morning Star Gold NL (2009 -2011) and AUL (2019) have been found within Kennys Reef. Development is planned to commence in the first quarter of 2022. These areas will deliver another four mining areas over the next 12 months, enhancing delivery of high-grade ore to the mill. This will require extension of underground infrastructure and an increase in mining personnel. Exploration development within the Maxwell and Stone Reefs is partially driven by review of historical assay results. For example, in 2010, sampling within the main 100m Maxwells Drive in 8 Sub Level returned encouraging zones of high-grade Au mineralisation. Development targeting Whitelaw Reef from Level 6 will begin in the second half of 2021. Mapping and sampling during February 2021 have highlighted a thick high-grade zone within the Whitelaw Reef: 1.5m at 14.44g/t Au, including 1m at 20.15g/t Au. 1.1m at 4.6g/t Au, including 0.1m at 32.6g/t Au. This development will also include exploration drives accessing the overlying Burns Reef. Mineralised drillhole intercepts within Burns Reef include: L6002 - 0.13m at 5.1g/t Au. L6003 - 0.35m at 43.3g/t Au.