Lodestar Minerals : Extends Earaheedy Base Metal Footprint

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LODESTAR EXTENDS EARAHEEDY BASE METAL FOOTPRINT

HIGHLIGHTS

• Lodestar applies for new tenement over historic base metal anomalies at the northern margin of the Earaheedy.
• 5km long zone includes historic rock chip samples to maximum 690ppm Cu, 868ppm Pb and 1800ppm Zn.
• Historic drilling into chlorite schist and carbonaceous shales reported

1. NRC03 - 32m at 0.12% Zn and 0.02% Pb from 120m

1. NRC04 - 40m at 0.09% Zn, 0.08% Pb, 1.2g/t Ag, including 4m at 0.21% Zn, 0.06% Pb,

2.3g/t Ag from 60m.

• 1. NRC05 - 26m at 0.06% Zn, 0.12% Pb, 1.1g/t Ag from 172m
• No follow up work since discovery in 2000.

Lodestar Minerals Limited ("Lodestar" or "the Company") (ASX:LSR) advises that it has recently applied for an additional exploration tenement on the Company's 100%-ownedEaraheedy-Imbin project northeast of Wiluna, Western Australia (see Figure 1).

Figure 1 Location plan showing tenement application E69/4030.

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Recent exploration success by Rumble Resources Limited (ASX:RTR) in the discovery of extensive Zn-Pb-Ag mineralisation has indicated the Earaheedy Basin has potential to become a major base metal metallogenic province.

Lodestar's Earaheedy-Imbin project, located 70km northeast of Rumble's project on the active northern margin of the Earaheedy Basin, has recently expanded with the addition of application E69/4030 covering 56 square kilometres over historic zinc-lead and copper anomalies identified by Jubilee Gold Mines NL1 and others2.

Since commencing exploration in 2021 Lodestar has identified 29 late-timeheli-EM anomalies as priority base metal for initial testing with geochemical sampling and three priority heli-EM targets for surface EM and initial RC drilling. These work programs are currently awaiting heritage approval.

E69/4030 is located adjacent to the Salvation Fault, the boundary fault between the Earaheedy Basin and the later Bangemall Basin to the north. The Salvation Fault is a major structure and was targeted as a potential growth fault and feeder for sediment-hosted base metal mineralisation.

Jubilee Gold Mines NL ("Jubilee") completed surface geochemistry, shallow RAB drilling and selective RC drilling of sediment-hostedzinc-lead base metal targets.

Seven wide spaced RC drill holes tested the soil and RAB geochemical anomalies to a depth of 200m. Extensive low-levelZn-Pb anomalies were reported from the weathered zone in support of the geochemical targeting. Deeper intersections also appear to support the potential of the sequence to host base metal mineralisation e.g.

• NRC03 - 32m at 0.12% Zn and 0.02% Pb
• NRC04 - 40m at 0.09% Zn, 0.08% Pb, 1.2g/t Ag, including 4m at 0.21% Zn, 0.06% Pb, 2.3g/t Ag
• NRC05 - 26m at 0.06% Zn, 0.12% Pb, 1.1g/t Ag from 172m (see Figure 2).

RC drilling intersected chlorite phyllite with minor quartz veining containing pyrite-sphalerite/galena (Zn/Pb) in holes NRC-01 and NRC-02, pyritic shale and carbonaceous shale. The geology appears very similar to the Yelma Formation elsewhere on the northern margin of the basin.

In addition to the well-defined surface zinc anomalies identified by Jubilee south of the Salvation Fault, rock chip sampling has outlined an extensive 5km by 1.5km Cu-Pb-Zn anomaly south of and parallel to the Salvation Fault that has not been targeted by drilling (see Figure 2).

On grant of the tenement Lodestar will complete first-passmulti-element geochemical sampling, including the extensive areas under shallow sand cover, to provide an initial framework for exploration targeting.

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AREA OF HISTORIC

ANOMALY

Figure 2 Rock sampling 95th percentile Cu-Pb-Zn distribution in relation to Jubilee Gold Mines NL RC drilling (NRC01 to NRC07). Background Rhodes (3147) 1:100 000 GSWA geology (MGA94 Zone 51).

This announcement has been authorised for release by the Board of Directors.

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Contacts

Competent Person Statement

The information in this report that relates to Exploration Results is based on information compiled by Bill Clayton, Managing Director, who is a Member of the Australasian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Clayton consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

About Lodestar

Lodestar Minerals is an active Western Australian gold and base metal explorer.

Lodestar's projects comprise the advanced Nepean Nickel Project JV, the Ned's Creek JV and the 100% owned Camel Hills, Imbin, Jubilee Well, Bulong and Coolgardie West projects.

The Imbin Project is a major strategic land holding in the emerging Earaheedy Province, site of Rumble Resource's recent and potentially world-classZinc-Lead discoveries. The Imbin Project is located on the northern margin of the prospective basin and is the site of significant historic copper intersections in drilling and approximately 20km of strike of the target Yelma-Frere unconformity

Lodestar discovered multiple zones of syenite intrusion-related gold mineralisation at the Ned's Creek Project on the Yilgarn craton margin, 150km west of Imbin. Vango Mining Limited is earning a 51% interest in the Ned's Creek JV by contributing $5M of expenditure over 3 years.

Bulong and Jubilee Well are recent acquisitions in highly endowed gold districts; first-pass drill programs are being planned. Coolgardie West, located 12km west of Coolgardie, has potential for greenstone hosted nickel, gold and LCT pegmatite mineralisation.

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• Amax Exploration, Aztec Mining and Murilla Exploration completed reconnaissance rock chip sampling over the area of application E69/4030. Sampling methods are not described. Murilla do not describe their analytical methods, samples were analysed by Minlab. After crushing, splitting and pulverizing Amax samples were analysed for Cu, Pb and Zn using a perchloric and nitric acid digest and AAS read (method GA101). Aztec also analysed for Cu, Pb and Zn using perchloric and nitric acid digest followed by AAS read (method GA101). Jubilee Gold Mines NL completed a program of RC drilling over soil geochemical anomalies; Drilling to depths of up to 200m was completed by a Schramm 660 rig using a face sampling hammer (bit diameter not given), 4m composite samples were collected from bagged 1m samples using a PVC spear. Sample size/weight is not reported, samples were pulverized and a 50g split was analysed for Cu, Pb, Zn using an aqua regia digest with AAS read (method IC205). Minor wet samples were noted but otherwise recoveries and sample quality were reported as satisfactory.
• Surface sampling and reverse circulation drilling using a face sampling hammer.

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