AuStar Gold Limited provided the following update to shareholders regarding the planned regional exploration program within the company's extensive exploration licenses, surrounding its Morning Star mining operation at Woods Point, Victoria. Over the last several months, the Company has held numerous discussions with highly qualified counterparties interested in farming in or joint venturing sections of the Company's exploration portfolio. Notwithstanding the receipt of a number of potentially attractive proposals, which included significant proposals of investment, the Company has elected to progress its program alone and retain 100% interest in its portfolio of exploration ground. Following a program of regional site visits and a detailed assessment of prospectivity led by the group's Geology team, the Company's Board and Management reached a unanimous view that the exploration upside represented by the Company's tenement portfolio was too significant to dilute. This region of Victoria, the Walhalla-Woods Point goldfields has produced more than 6Moz Au. Within this belt, the company holds a tenure position of approximately 670km2 with historical production of 1.7Moz Au. The Morning Star mine historically produced 857koz gold at an average grade of 26.5g/t Au. Prospect targeting: Current desktop studies have highlighted multiple high priority targets for the program in the H1 of 2020 and H2 of 2021. Currently the team is reviewing geological records of exploration, and mining history, including past geochemical data from the Victorian Geological Department, undertaking field reconnaissance for access and planning future work programs. Ranking criteria is being based on lithology, local and regional structures, geochemical anomalies, production history, historical drilling density, geophysical data and accessibility with an eye to near-term conversion of discoveries to production. Based on this ranking, the new technical team is re-evaluating and re-prioritising the regional tenure for projects and has identified several high proiority projects that include: The Toombon to New Dawn area; The Loch Fyne and All Nations mines and their immediate vicinity; Eldorado to Wallaby and The Rose of Denmark, Hunts & Dempsey areas through New Lauraville, up to (but not including) the A1 mine (Centennial Mining Limited). In-Company Expertise and Equipment: The Geological and group Management team has been refreshed over recent months with the appointment of Jason Larocca as group Senior Geologist and Franz Schlosser as General Manager. The new team brings experience from overseas, Australia and the local exploration environment. The team will be augmented with further expertise in the coming months as the program develops and expand. Capital expenditure within the exploration programs will ensure that the team is equipped with the essential equipment to carry out the activities, including vehicles, software, and field equipment. The Company, having successfully established in-mine drilling competency, also expects to acquire at least one further electric-hydraulic drill rig suitable for the testing of deeper targets. The immediate work program includes: Reviewing geological and workings mapping; Undertaking extensive sampling within targeted historical workings on tenement; Field Geochem programs within the tenements; Generating conceptual 3D modelling of prospective targets; Ranking programs to establish priority drilling targets in H1 2021; Planning and permitting for regional exploration drilling.