Star Minerals, through its mining contractor MEGA Resources, is undertaking mining at the Tumblegum South Gold Project, with the first gold pour anticipated in the second half of 2026. Free cashflow will capitalise on gold prices sitting significantly higher than the prices used in the Company's Updated Scoping Study. Gold toll treatment will be undertaken by Catalyst Metals at its Plutonic Gold Mill.

At gold prices from A$3,000 to A$3,800/oz, the updated Production Target for the Tumblegum South Gold Project (Updated Production Target) ranges from approximately:

• 167kt @ 2.43g/t producing 11.8koz gold, to
• 255kt @ 2.16g/t producing 15.9koz gold

Mining is contemplated as a single campaign over approximately 18-24 months. 

In addition, Star Minerals is investigating ways to grow its business by:

• acquisition, application, or joint venturing into areas surrounding and adjacent to the projects; and
• acquisition, application, or joint venturing into other, unrelated but economically attractive projects compatible with Star Minerals' goals and capabilities.