Lodestar Minerals: June 2022 quarterly activity and cash report

contacts

Bill Clayton

Media inquiries

General director

Michael Vaughan, Fivemark Partners

[email protected]

[email protected]

+61 8 9435 3200

+61 422 602 720

About Lodestar

Lodestar Minerals is an active gold and base metals explorer in Western Australia.

Lodestar’s projects include the advanced Nepean Nickel project joint venture, the Ned’s Creek joint venture and the wholly owned projects Camel Hills, Earaheedy-Imbin, Jubilee Well, Bulong and Coolgardie West.

The Earaheedy-Imbin project is a major strategic landholding in the emerging province of Earaheedy, site of Rumble Resource’s recent and potentially world-class zinc and lead discoveries. The Imbin project is located on the northern margin of the prospective basin and is the site of significant historical copper intersections in the drill hole and approximately 20 km strike from the Yelma-Frere target misconformity.

Lodestar discovered several zones of gold mineralization related to a syenite intrusion at the Ned’s Creek project on the margin of the Yilgarn craton, 150 km west of Imbin. Vango Mining Limited acquires a 51% stake in the Ned’s Creek joint venture by contributing $5 million in expenditures over 3 years.

Bulong and Jubilee Well are recent acquisitions in highly endowed gold districts; first pass drilling programs have been planned. Coolgardie West, located 12 km west of Coolgardie, has potential for gold, nickel and pegmatite LCT mineralization in greenstone with priority drill targets for lithium and gold identified by soil geochemistry.

Declaration of competent person

The information contained in this report regarding exploration results is based on information compiled by Bill Clayton, Managing Director, who is a Fellow of the Australasian Institute of Geoscientists and has sufficient experience in relation to styles of mineralization and types deposits under study. , and activities undertaken, to qualify as a Competent Person as defined in the Joint Ore Reserves Committee (JORC) Australasian Code 2012 Edition for the Reporting of Exploration Results, Mineral Resources and Ore Reserves . Mr. Clayton consents to the inclusion in this report of matters based on the information in the form and context in which it appears.

Information in this announcement that relates to previously released exploration results was disclosed under JORC 2012 in the ASX announcements of

  • 9e April 2021 “Acquisition of the Jubilee Well – Along the Sunrise Dam Strike”.
  • 15e December 2021 “Earaheedy-Imbin Exploration Update”.
  • 9e June 2022 “Lodestar Exploration Update”.

These announcements can be viewed on the Lodestar website. The company confirms that it is not aware of any new information or data materially affecting the information included in the initial market announcement. The Company confirms that the form and context in which the Competent Person’s Findings are presented have not changed materially from the initial announcement to the market.

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