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LODESTAR MINERALS LTD
Symbol	LSMLF
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Lodestar Minerals Ltd (LSMLF) FY2026 Report: Exploration Progress Across Gold, Copper and Heavy Rare Earth Portfolio

2026-09-27 19:41 ET - News Release

Perth, Australia, Sep 28, 2026 - (ABN Newswire) - Lodestar Minerals Limited (ASX:LSR) (FRA:3EJ) (OTCMKTS:LSMLF) has released its Annual Financial Report for the year ended 30 June 2026, reporting exploration progress across its gold, copper and heavy rare earth element projects in Western Australia,Chile and Arizona, United States.

During FY2026, Lodestar advanced the 100%-owned Neds Creek Gold Project in Western Australia toward potential Mineral Resource definition, completed maiden drilling at the 100%-owned Three Saints IOCG Project inChile, entered an option agreement to secure sole exploration rights over the Los Loros copper-molybdenum-gold porphyry project in Chile, and acquired Arizona Mountain Passage Heavy Rare Earths Pty Ltd before exercising its option over the Virgin Mountain Heavy Rare Earth Element Project in Arizona.

The Company also undertook a portfolio review during the year, terminating its Darwin option agreement and withdrawing from the Nicanor Heads of Agreement. Lodestar stated that this enabled it to redirect exploration expenditure and technical resources toward Three Saints and subsequently Los Loros.

Lodestar reported cash and cash equivalents of $3,544,088 at 30 June 2026, compared with $25,816 at 30 June 2025.

NEDS CREEK GOLD PROJECT

Lodestar completed approximately 13,400 metres of reverse-circulation drilling at Neds Creek during FY2026 across the Gidgee Flat, Contessa and Central Park prospects.

During the first half of FY2026, the Company completed 966 metres of reverse-circulation drilling in four holes at Gidgee Flat. In the June quarter, it completed a further 12,417 metres in 106 holes, comprising 7,654 metres at Gidgee Flat, 2,778 metres at Contessa and 1,985 metres at Central Park.

An independent technical review completed in December 2025 defined an initial Exploration Target across Gidgee Flat, Contessa and Central Park of approximately 57 million tonnes at 1.0-1.7 grams per tonne gold, containing approximately 250,000-300,000 ounces of gold.

The potential quantity and grade of the Exploration Target are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource.

Significant Neds Creek drill results reported during the year included:

- 13 metres at 4.38g/t gold from 229 metres, including 1 metre at 49.60g/t gold.

- 28 metres at 0.63g/t gold from 205 metres.

- 16 metres at 1.05g/t gold from 185 metres.

- 9 metres at 1.27g/t gold from 32 metres, including 1 metre at 6.55g/t gold.

- 15 metres at 1.46g/t gold from 151 metres, including 2 metres at 4.34g/t gold.

- 6 metres at 7.16g/t gold from 140 metres, including 1 metre at 35.34g/t gold.

The June-quarter drilling programme was intended to test the continuity of known mineralised zones, identify potential extensions to the Exploration Target and generate geological, density and metallurgical information thatmay support potential Mineral Resource estimation. At 30 June 2026, drilling had been completed, while assay results from a substantial proportion of the programme remained outstanding.

THREE SAINTS IOCG PROJECT

Lodestar commenced maiden drilling at the Three Saints IOCG Project in Chile during the March quarter.

The first diamond drill hole, L3SRD003, was completed to 600 metres. Lodestar reported that geological logging identified recurring intervals of chalcopyrite, pyrite, magnetite and molybdenite from approximately 190 metres to end of hole. Assays confirmed anomalous copper, gold, cobalt and molybdenum mineralisation, together with an alteration-mineralisation assemblage interpreted by the Company to be consistent with anIOCG-style hydrothermal system.

Peak assay values reported from L3SRD003 were up to 0.77% copper, 0.38g/t gold, 449ppm cobalt and 190ppm molybdenum.

The second diamond hole, L3SDD004, was collared approximately 900 metres from the maiden hole and completed to 611.1 metres. Lodestar reported visual identification of multiple zones containing native copper, chalcopyrite, pyrrhotite, magnetite and pyrite between approximately 219 metres and 510 metres, as well as strong hydrothermal alteration and garnet-epidote skarn-style alteration within a brecciated interval near the bottom of the hole.

Laboratory assays for L3SDD004 remained pending at 30 June 2026. Geological observations from this hole should not be interpreted as a proxyfor assay grades.

Lodestar reported that the two completed diamond holes provided its first direct geological information through the target area and demonstrated a mineralised IOCG hydrothermal system over a footprint exceeding approximately 1.6kilometres, remaining open laterally and at depth.

LOS LOROS COPPER-MOLYBDENUM-GOLD PORPHYRY PROJECT

In January 2026, Lodestar entered an option agreement through its wholly owned Chilean subsidiary, Tesoro Andes SpA, to secure sole exploration rights over eight concessions comprising the Los Loros copper-molybdenum-gold porphyry project.

During FY2026, Lodestar completed the first modern high-resolution geophysical programme over the Aguila prospect. The programme comprised approximately six kilometres of TITAN DCIP-MT surveying across three lines, 60 magnetotelluric stations and a high-resolution drone magnetic survey over approximately 2.8 square kilometres. The MT component extended the depth of investigation to more than approximately one kilometre.

The Company reported that integrated interpretation of the geophysical data, historical drilling and surface geology identified five priority targets for porphyry copper-molybdenum and structurally controlled gold mineralisation at depths of approximately 150 metres to 800 metres. Drilling preparations were progressing at 30 June 2026.

Lodestar disclosed historical drilling results at Los Loros, including 136 metres at 0.20% copper equivalent from 134 metres to end of hole in LLO-01, and 20 metres at 3.67g/t gold from 132 metres in LLO-02, including 2 metres at 33.83g/t gold.

The Company does not intend to undertake work to verify these historical exploration results. Lodestar stated that the historical results are qualitative and indicative in nature only, are not reported in accordance with the JORC Code (2012), and should not be relied upon as representing Mineral Resources or Ore Reserves. Further work, including confirmatory drilling and modern sampling programmes, would be required to verify their reliability and relevance.

VIRGIN MOUNTAIN HEAVY RARE EARTH PROJECT

During FY2026, Lodestar acquired Arizona Mountain Passage Heavy Rare Earths Pty Ltd and subsequently exercised itsoption over the Virgin Mountain Heavy Rare Earth Element Project in Arizona, United States.

At 30 June 2026, Virgin Mountain comprised 23 federal mineral claims covering approximately 475 acres.

Initial fieldwork included geological mapping,radiation surveying and reconnaissance rock-chip sampling. Selected rock-chip results included:

- 3.73% total rare earth oxides containing 48% heavy rare earth oxides.

- 1.81% total rare earth oxides containing 58% heavy rare earth oxides.

- 1.67% total rare earth oxides containing 62% heavy rare earth oxides.

- 1.41% total rare earth oxides containing 64% heavy rare earth oxides.

- 1.00% total rare earth oxides containing 50% heavy rare earth oxides.

The sampled mineralised exposures occur approximately 225 metres apart along a broader interpreted structural trend extending for approximately five kilometres.

Mineralogical analysis undertaken at the Australian National University using scanning electron microscopy confirmed xenotime as the predominant rare earth element-bearing phase and the dominant source of heavy rare earth elements in the samples analysed.

Lodestar cautioned that the rock-chip samples are selective in nature, may be subject to sampling bias and should not be considered representative of the overall mineralised structure or zone.

*To view Lodestar's Annual Report 2026, please visit:
https://abnnewswire.net/lnk/4W539EB7

Editorial Note:

This media release has been independently prepared by ABN Newswire editorial staff based on Lodestar Resources' Annual Report for 2026. It is intended as an editorial summary of information disclosed in that report and should be read in conjunction with Lodestar Minerals' full ASX announcement. All financial, operational and post-reporting-period information in this editorial has been sourced from the Company's report.

About Lodestar Minerals Ltd:

Lodestar Minerals Limited (ASX:LSM) (OTCMKTS:LSMLF) is an active critical metals, gold and base metals explorer. Lodestar’s projects include the Los Loros Porphyry Cu-Mo-Au and the Three Saints IOCG projects in Chile, the 100% owned Ned’s Creek Gold and Earaheedy projects in Western Australia, and the Virgin Mountain HREE project in USA.

Lodestar also has exposure to lithium via its 27.5M performance rights in ORE Resources (ASX:OR3) who own the Kangaroo Hills and Miriam Projects in Western Australia.

Contact:

 
Coraline Blaud
Executive Director - Head of Exploration
info@lodestarminerals.com.au
+61 8 9435 320