Brightstar Resources (BTR) RIU Explorers Conference 2026 summary

Strategic growth and project portfolio

• Transitioned from a small explorer to a 4-million-ounce resource base with two operating mines and 140 employees in three years.

• Focused on two hubs: Goldfields and Sandstone, both on granted mining leases with strong infrastructure and operational synergies.

• Growth driven by targeted M&A and exploration, aiming for all projects to become producing mines in the near term.

• Owner-operator model covers all mining functions, with significant investment in building internal systems and processes.

• Portfolio assembled from acquisitions of underexplored assets, with potential to expand resources beyond current estimates.

Goldfields Hub development and economics

• Definitive feasibility study (DFS) released, outlining a 6-year mine life producing over 75,000 ounces per year.

• Projected to generate over AUD 1.5 billion in free cash flow and nearly AUD 1 billion NPV at current gold prices.

• Fully funded for construction, with FID targeted for March and first gold pour expected by May/June next year.

• Mill designed for 1.5Mtpa with embedded expansion to 2.5Mtpa, allowing for future production increases.

• Production model simplifies operations to one open pit and one underground mine running concurrently.

Sandstone Hub opportunity and timeline

• Sandstone holds 2.5 million ounces, mostly near surface, with significant upside from ongoing drilling.

• Four rigs active, with resource upgrade and pre-feasibility study due mid-year; aiming for FID by end of next year.

• Potential to develop into a 180,000+ ounce per annum operation for 10–15 years with a 5Mtpa mill.

• Project benefits from strong infrastructure, including highway and gas pipeline access.

• Funding for Sandstone’s build expected from Goldfields’ free cash flow, targeting construction start in 2028.