Star Minerals Limited advised that it has received the assay results from its diamond drilling campaign at the Tumblegum South gold project. Drilled in two programs consisting of 3 holes for a total of 162m in 2020, then a further two holes in 2022 for a total of 354.8m (Total 5 holes for 516.8m). The first program was designed to provide structural and potential metallurgical information, while the second program was planned to pass through multiple modelled geological zones that were interpreted from the previous RC drilling programs. Results of significance include: 2.1m @ 20.49g/t Au in hole BGDD002 from 26.7m downhole; 4.7m @ 2.3g/t Au in hole BGDD003 from 44.6m downhole; 0.4m @ 41.5g/t Au in hole TDH004 from 62.7m downhole; 6.4m @ 1.57g/t Au in hole TDH004 from 111.6m downhole; 2.8 m @ 3.23g/t Au in hole TDH005 from 113.2m downhole.

Once again leveraging from its commercial relationships, Star Minerals was able to quickly execute the planned drilling program during September1 2022, and after completion of core photography, logging and sampling activities submit its samples, with the final results returned in March 2023. The diamond drilling program was planned to test the interpretation of the geology based on the previous exploration data that the Company has and served as a way to increase the confidence of the interpretation and modelling of this information. The success of the diamond drilling shows that the current data set is robust enough to use as a tool for a Resource update, which will then be used as an input for further scoping, engineering and environmental works.

NEXT STEPS: The recent drilling, sampling and assay work from drilling shows that the Company is determined to execute on its announced strategy to immediately develop assets that complement its existing projects. This latest drilling shows the robustness of previous work on the Tumblegum South resource, and gives the Company confidence that the project is suitable for further work to define the gold mineralisation, ready for a future Resource update and further work on a scoping study for mining. The company will provide further details on this work once this has been collected, analysed and reviewed.