Lodestar Minerals : Lithium Potential Upgraded at Coolgardie West

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ASX ANNOUNCEMENT

11 February 2022

LITHIUM POTENTIAL UPGRADED AT COOLGARDIE WEST

HIGHLIGHTS

• Greenstone-hostedpegmatite lithium corridor identified in geochemical sampling.
• The lithium-caesium-tantalum (LCT) corridor extends over 2.5km south from minor historic workings and is located immediately north of the Great Eastern Highway.
• The Coolgardie-Bullabulling terrane hosts known lithium occurrences at the Londonderry and Red Panda pegmatites, 10km east and 12km south, respectively.
• Large +10ppb gold in soil anomalies adjacent to Coolali-Bali Granite contact represent walk-up drill targets.

Lodestar Minerals Limited ("Lodestar" or "the Company") (ASX:LSR) advises that the recently completed regional soil sampling over E15/1813, located 10km west of Coolgardie, Western Australia (see Figure 1) has revealed a significant LCT geochemical trend extending from sub-cropping pegmatites exposed in historic scrapings.

The results from a 937 sample UFF™ ultrafine soil sampling program completed in December 2021 have highlighted a 2.5km long coincident Li-Cs-Sn-W geochemical trend within the north-east trending Coolgardie greenstone (see Figures 2-4). Significantly, the results indicate that the pegmatite is more extensive than indicated by minor historic excavations, for which there is no public record.

Lodestar's first-pass sampling program was completed on a 200m by 100m regular grid over the area of mapped greenstone and expanded to a 400m by 200m grid over a wider area to test historic gold anomalies along the major structural contact between the Bali and Coolarli Granites.

Two extensive +16ppb Au gold anomalies have also been identified. One, extending over 1.8km and adjacent to a north-east trending structure, has confirmed an historic anomaly in Resolute data1 and demonstrated that the anomaly is not related to drainage dispersion. The second anomaly extends over 2km and trends north-west adjacent to the contact between the Coolarli and Bali Granites (see Figure 5). Both anomalies occur in areas of soil cover and have not been tested by drilling.

Follow up surface exploration planned for the pegmatite target will aim to confirm the lithium potential using LCT-specific analytical methods.

1 See Lodestar's ASX announcement dated 11th October 2021.

Lodestar Minerals Limited	PO Box 584	www.lodestarminerals.com.au
1st Floor, 31 Cliff Street	Fremantle, WA 6959
Fremantle, WA 6160	ABN: 32 127 026 528

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Lodestar Managing Director Bill Clayton commented "The results of our first-passgeochemical program have exceeded our expectations, providing multiple LCT and gold targets of scale in a demonstrably under explored greenstone sequence, adjacent to major transport and infrastructure hubs. We look forward to progressing the Coolgardie West project through the next phase of exploration."

E15/1813

Figure 1 Location plan showing E15/1813 in relation to gold occurrences, LCT and nickel occurrences on 1:500 000 GSWA geology and aeromagnetic images.

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Figure 2 Lithium distribution along strike from pegmatite exposure (MGA94 zone 51).

Figure 3 Caesium distribution along strike from pegmatite exposure.

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Figure 4 Tin distribution along strike from pegmatite exposure.

Figure 5 Tungsten distribution along strike from pegmatite exposure.

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Figure 6 Gold targets highlighted by the 10ppb Au (yellow) contour (RTP1VD aeromagnetic data MGA94 zone 51).

Table 1 Summary statistics for selected elements.

	Au_ppb	Cs_ppm	Li_ppm	Sn_ppm	W_ppm
Mean	7.216	5.107	47.651	1.932	0.615
Median	5.600	4.190	46.000	1.880	0.294
Standard Deviation	4.797	3.846	16.488	0.410	2.097
Range	25.000	37.670	178.000	3.630	36.063
Minimum	1.300	1.430	16.000	0.450	0.037
Maximum	26.300	39.100	194.000	4.080	36.100
n	919	919	919	919	919

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