Lodestar Minerals Ltd (LSR.AX) High Grade Results at Central Park Advance Ned's Creek Gold

Perth, July 30, 2026 AEST (ABN Newswire) - Lodestar Minerals Limited (ASX:LSR) (LSMLF:OTCMKTS) has announced further encouraging assay results from the Reverse Circulation ("RC") drilling campaign at the Central Park prospect located within the Ned's Creek Gold Project in WA.

HIGHLIGHTS

- Results from the 12,000m drilling campaign continue to support the December 2025 published Exploration Target of 250,000-300,000 oz Au in the range of 5-7 Mt at 1.0 - 1.7g/t Au. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

- Thick, high-grade gold results returned from Central Park Prospect drilling, including the significant oxide and transitional intersections below;

o 34m @ 1.81g/t Au from 42m, inc. 12m @ 3.03g/t Au from 60m in vertical hole LNRC210

o 24m @ 1.56g/t Au from 39m, inc. 15m @ 2.25g/t Au from 48m in vertical hole LNRC191

o 20m @ 1.90g/t Au from 28m, inc. 8m @ 3.77g/t Au from 40m in vertical hole LNRC196

o 32m @ 0.82g/t Au from 16m, inc. 12m @ 1.63g/t Au from 24m in vertical hole LNRC200

- Assays confirm mineralisation at Central Park is open toward the west with the western most drill section intersecting a broad zone of high-grade mineralisation - expanding the large-scale potential of the Ned's Creek Gold Project area - Lodestar anticipates publishing a maiden Mineral Resource Estimate (MRE) for Ned's Creek in late CY2026. Environmental, heritage and technical studies including metallurgical test work are being initiated to expedite advancement of the asset. Results will complement the Resource Estimate to support an application for a Mining Lease in early CY2027.

- Ned's Creek Project is located in a proven gold region near Catalyst Metals' Plutonic Gold Mine and plant and within trucking distance of Westgold's Blue Bird plant near Meekatharra (Fig 8*)

Results returned from the recently completed drilling continue to support the published Exploration Target and highlight areas open for mineralisation extension. Partial assay results are outstanding for a small number of holes with remaining assay results eagerly awaited.

LSR personnel have completed the first round of resampling of the 4m composite results that have returned positive results above 0.2 g/t Au. Currently 1,085 resamples are at the laboratory awaiting analysis with additional samples expected once final 4m composite samples are received. within the next 4 weeks. All activities are subject to weather conditions.

This drilling campaign was completed as planned to support the Company's objective of testing the Exploration Target and publishing a maiden Mineral Resource Estimate (MRE) for the Ned's Creek Gold Project later in CY2026 and to support a Mining Lease application in early 2027. To complete a Mining Lease application, a flora survey has been scheduled and will be completed in two stages: a spring survey and an autumn survey, with the first survey taking place this spring. Communications with the Native Title Groups have been initiated.

In December 2025, the Company published an Exploration Target of 250,000-300,000 oz Au in the range of 5-7 Mt at 1.0 - 1.7g/t Au at its Ned's Creek Project across the three main prospects: Gidgee Flat, Contessa and Central Park.

A 10,000m drill program was designed to test the Exploration Target. Drilling was completed in early 2026 for a total of 12,417m drilled from 106 RC drill holes over a two-month period. Samples have been submitted for assaying with results being progressively received. At reporting, 90% of the original 5,345 drill samples have had assays returned.

The current results indicate that the project is tracking within the Exploration Target range.

Commenting on the encouraging drilling outcomes so far, Lodestar CEO and Executive Director Coraline Blaud said:

"The high grades and thick oxide mineralisation returned from Central Park further support the potential to expand the mineralisation footprint at Ned's Creek. Importantly, Ned's Creek continues to demonstrate very strong growth potential in the oxide zone and in fresh rock. This is shown by the identification of new mineralised lodes sub-parallel to those previously recognised, mineralisation extending from the supergene zone into the underlying fresh rock and mineralisation intersected at or beyond the limits of the Exploration Target. Pending results are eagerly awaited to finalise the data collection required to support advancement of the asset towards a Maiden MRE this calendar year."

Drilling Results Discussion

Central Park Prospect

The 2026 RC drilling at the Central Park Prospect was planned to improve the knowledge from the previous drilling used to model shallow oxide mineralisation within the 2025 Exploration Target, and to test its edges.

The results reported here from the Central Park Prospect, confirm the historic drilling and in many cases have returned results significantly better than adjacent historic holes within the oxide zone (saprolite). The mineralisation is open to the west of the Central Park Prospect with the best result returned to date (LNRC210, 34m @ 1.81g/t Au from 42m, inc. 12m @ 3.03g/t Au from 60m) on the western most section.

Many of the significant intersections are 4m composite results and these have now been resampled at 1m intervals and submitted for analysis.

The oxide - transitional nature of the Central Park mineralisation masks the underlying lithologies, however below the saprolite zone (below the base of complete oxidation (BOCO)) multiple intervals of sheared intermediate - mafic schist were identified. These will be modelled, with rock type changes, veining, and sulphide content (often oxidised sulphides) during the geological modelling. The sheared intervals are currently interpreted as north to north-westerly dipping (see relevant sections) and while this is the most obvious interpretation using the available geological information, further drilling is required to confirm it.

The significant results highlight the potential to extend existing mineralisation beyond the previously outlined mineralised envelope and provide improved confidence in the historical RAB drilling used to define the Exploration Target.

LNRC210 is an exciting vertical hole with high-grade oxide mineralisation exceeding historical drilling results. The broad zone of oxide mineralisation identified at the limit of the exploration model is a combination of supergene enrichment within and above the mineralised shear zone. Significant intersections from this hole are:

- 34m @ 1.81g/t Au from 42m, including 12m @ 3.03g/t Au from 60m

Multiple other intersections from holes to the east generally along strike are equally as positive with wide zones of +1g/t Au and internal intervals +2g/t Au, these include:

- 24m @ 1.56g/t Au from 39m, including 15m @ 2.25g/t Au from 48m in vertical hole LNRC191

- 20m @ 1.90g/t Au from 28m, including 8m @ 3.77g/t Au from 40m in vertical hole LNRC196

- 32m @ 0.82g/t Au from 16m, including 12m @ 1.63g/t Au from 24m in vertical hole LNRC200

The oxide / supergene mineralisation is often a relatively flat zone, therefore close to true thickness in a vertical hole, however some of the intervals reported are partially within the transition to fresh rock and demonstrate quartz veining, shearing and sulphide development (often oxidised). The true width of these transition / fresh intervals will be confirmed with further drilling, when the strike and dip of the shear and vein hosts are confirmed. The wide zones of mineralisation reported as down hole thicknesses are likely to be significantly narrower when true thickness is applied.

Geological observations confirm the potential to extend mineralisation at depth, particularly if these shears and veins continue with the interpreted north - northwest-dipping shear zone. Within the north - northwest dipping shear zone the true width is significant, and there are very few holes testing the shear zone into the fresh rock. Thin syenites and other intrusive units were intersected on multiple sections, however their significance at the Central Park prospect is not yet confirmed.

In a regional context there is a major dislocation between the Central Park and Gidgee Flat prospects. This structural and stratigraphic complexity is seen as an exploration opportunity which requires significant work, both on remote datasets and drill testing of new exploration targets. The Central Park stratigraphy, alteration and mineralisation style (when seen in fresh rock) is equivalent to mineralisation seen at Gidgee Flat, hence the two prospects are considered a product of the same mineralising system.

Contessa Prospect Results

Drilling at the Contessa Prospect was focused on testing gaps in the Exploration Target where a combination of insufficient RC drilling and marginal results discounted the areas for inclusion in geological models. Most of the Contessa results returned in the 2026 program from the oxide zone (saprolite) drilling support the historical RAB and Aircore results. Vertical holes completed to test the saprolite were consistent with historical holes used to define the Exploration Target.

Oxide zone mineralisation in LNRC173 and LNRC176 support the historical results in this area, with LNRC173 returning 3m @ 2.73g/t Au from 41m and LNRC176, a wider 4m composite interval of 12m @ 0.71g/t Au from 56m. In drill hole LNRC176, the mineralised 4m composite samples have been resampled with results pending.

To the southwest of Contessa, hole LNRC168 includes 4m @ 1.47g/t Au from 44m (4m composite sample), it is a likely westerly extension of the main Contessa Vein, with 30% quartz veining geologically identified within the interval. Shallow drilling completed in this area has confirmed generally narrow and low-grade oxide mineralisation <0.5g/t.

The angled drill holes northeast of Contessa intersected sulphide mineralisation and strong veining intervals within a variably altered sequence of volcanic and intrusive units, presenting low levels of gold mineralisation.

It is likely that a structure has offset the Contessa mineralisation in this area leaving the northern extension open. Further exploration is required before potential extensions are discounted.

Resampling of four metre compositesis underway for the results reported here, and further sampling is likely required for pending results.

Progress Update

Geological modelling is underway in preparation for publishing a Maiden Mineral Resource Estimate in late CY2026. This follows the development of the Exploration Target published in December 2025 which included a mineralisation model for the three main prospects - Gidgee Flat, Contessa and Central Park. Drilling completed in 2026 was designed to test for mineralisation extensions, infill existing sections and increase the confidence of mineralisation results from RAB and Aircore drilling in zones of oxide and fresh material. All are key aspects to confirming the December 2025 Exploration Target and estimating a Maiden Mineral Resource.

Environmental, heritage and technical studies including metallurgical test work have been initiated to expedite advancement of the asset and support an application for a Mining Lease in early CY2027.

The results continue to support Lodestar's objective of confirming the December 2025 Exploration Target, estimating a maiden Mineral Resource for publishing in late CY2026 and completing environmental, heritage and technical studies to expedite advancement of the asset and support an application for a Mining Lease in early CY2027. Testing potential for additional mineralisation beyond the current exploration target will be undertaken concurrently.

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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. 
 

   

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