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Until in any other case specified, capitalised phrases used on this announcement have the identical which means as given in Aurumin’s Scheme Booklet dated 9 October 2025 (Scheme Booklet).
RESULTS OF THE SECOND COURT HEARING
Brightstar is happy to announce that the Supreme Court docket of Western Australia (Court docket) has made orders approving the Schemes underneath which Brightstar will purchase 100% of the shares of Aurumin and all Aurumin choices will likely be cancelled in alternate for brand spanking new Brightstar choices.
Aurumin intends to lodge an workplace copy of the Court docket’s orders with the Australian Securities and Investments Fee (ASIC) on Friday, 21 November 2025, at which era the Schemes will grow to be legally efficient. Aurumin expects that the ASX will droop Aurumin shares from buying and selling on the ASX with impact from the shut of buying and selling on Friday, 21 November 2025.
SANDSTONE PROJECT UPDATE
- Brightstar and Aurumin at present have six drilling rigs working in Sandstone, concentrating on materials Mineral Useful resource Estimate (MRE) development and infill drilling key deposits to allow a rise in confidence classification
- Publish implementation, the consolidated MRE at Sandstone will increase to 2.4Moz @ 1.5g/t Au (professional forma foundation with Aurumin)1, with the group whole MRE rising to three.9Moz @ 1.5g/t Au
- A Mineral Useful resource improve for Sandstone is focused for launch in 1H CY26 following important exploration drilling over the previous 12 months (+70,000m accomplished up to now)
- Workstreams proceed on the consolidated Pre-Feasibility Research, with mining engineering, metallurgical, geotechnical, approvals and allowing actions persevering with apace to fast-track the eventual improvement of the Sandstone Gold Venture (focused for FID in 2H CY27)
- The profitable improvement of Sandstone, along with the near-term manufacturing growth of Brightstar’s Menzies-Laverton asset base, underpins Brightstar’s aspirational manufacturing goal of +200,000oz pa.
Brightstar’s Managing Director, Alex Rovira, commented:
“We’re delighted to see the overwhelming assist from Aurumin securityholders for the Schemes. That is the primary time in over a decade the Sandstone Greenstone Belt has been consolidated underneath one possession, with manufacturing final occurring in Sandstone when the gold worth was lower than A$1,000/oz.
Regardless of the restricted systematic exploration historical past because of the fragmented possession, upon completion of the Schemes, Brightstar will emerge with a Mineral Useful resource of roughly 2.4Moz @ 1.5g/t on the Sandstone Gold Venture that’s largely constrained inside the high 150m from floor. Notably, we see important potential for Mineral Useful resource development following the ~70,000m of drilling already accomplished in Sandstone by Brightstar, with a focused ~120,000m of drilling deliberate for completion previous to the Pre- Feasibility Research focused for launch in mid-2026.
In our view, the Sandstone district doubtlessly represents one of many largest undeveloped gold initiatives within the WA goldfields within the fingers of a junior/rising firm, with the potential for a multi-decade mine life throughout each open pit and underground operations.
The event of our Menzies, Laverton, and Sandstone Gold Initiatives is central to delivering on our imaginative and prescient and positioning Brightstar as an rising mid-tier Western Australian gold producer.”
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This text contains content material from Brightstar Assets, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your accountability to carry out correct due diligence earlier than performing upon any data supplied right here. Please confer with our full disclaimer right here.
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