Lodestar Minerals Ltd (LSR.AX) Delivers Significant Resource at Ned's Creek Gold

Perth, Oct 22, 2026 AEST (ABN Newswire) - Lodestar Minerals Limited (ASX:LSR) (3EJ:FRA) (LSMLF:OTCMKTS) announced the delivery of the maiden Inferred Mineral Resource Estimate (MRE) for the Company's 100%-owned Ned's Creek Gold Project ('the Project') in Western Australia. The MRE totals 5.9 million tonnes at 1.16g/t Au for 221,000 oz of gold based on a cut-off grade of 0.5g/t gold.

Ned's Creek is located approximately 40km east of Catalyst Metals' (ASX:CYL) Plutonic Gold Mine and processing plant. It sits within a proven gold-producing region and is also within trucking distance of several processing plants, including Westgold's (ASX:WGX) Bluebird processing plant near Meekatharra, Andy Well and Fortnum, providing potential opportunities for future development and third-party processing.

HIGHLIGHTS: MAIDEN MINERAL RESOURCE ESTIMATE (MRE)

- Maiden Mineral Resource Estimate (MRE) of 5.9 million tonnes at 1.16 g/t Au, for 221,000 ounces of gold, reported at a cut-off grade (COG) of 0.5 g/t Au and classified entirely as Inferred under the JORC Code (2012 Edition).

- Oxide and transitional material comprise approximately 2.76 million tonnes at 1.17 g/t Au for 103,000 ounces, representing approximately 47% of the reported gold content.

- Three deposits contribute to the maiden resource: Gidgee Flat approximately 125,000 ounces, Contessa 69,000 ounces and Central Part 26,000 ounces.

- Mineralisation remains open along strike and at depth, with underexplored parallel structures. Follow-up drilling planned to commence in Q4 CY2026 aiming to improve confidence in the existing resource and testing extensions outside its current boundaries.

- Potential development pathways include toll treatment, ore sale arrangements, partnerships and joint ventures. Ned's Creek is strategically located within an established gold-producing region, approximately 40 km east of Catalyst Metals' Plutonic Gold Mine and processing plant.

- In addition to the MRE, a substantial new Exploration Target in the range of 5.8 to 7.1 million tonnes at 0.86 to 1.15 g/t Au containing 159,000 to 264,000 ounces of gold has been defined, highlighting the potential for further resource growth. The Exploration Target encompasses extensions along strike and at depth of the three deposits. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource from this Exploration Target and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

- Technical priorities include representative bulk density measurements, metallurgical testwork, and geotechnical studies alongside environmental assessments. Programs areprogressing to support the planned Mining Lease application in early CY2027.

NED'S CREEK GOLD PROJECT - RESOURCE SUMMARY

Commenting on the Mineral Resource Estimate, Lodestar CEO and Executive Director Coraline Blaud said:

"Delivering a maiden Mineral Resource Estimate of 221,000 ounces of gold at Ned's Creek marks a significant milestone for Lodestar, achieving the key objective of our 2026 resource definition drilling program. The resource comprises 5.9 million tonnes grading 1.16g/t gold at a 0.5g/t gold cut-off and is classified entirely as Inferred. It provides a strong foundation for the next phase of exploration, with follow-up drilling planned to improve geological confidence, support future resource upgrades and test extensions along strike and at depth.

From a geological perspective, we see encouraging potential to grow the resource, with mineralisation remaining open along strike and at depth, while parallel structures remain underexplored. The new Exploration Target of 5.8-7.1 million tonnes at 0.86-1.15g/t gold, containing 159,000-264,000 ounces of gold, highlights the scale of the opportunity. Our next phase of drilling will focus on assessing this Exploration Target and improving geological confidence in the existing resource.

In parallel, technical studies and environmental assessments remain on schedule to support a Mining Lease application in early 2027. Ned's Creek's location within an established Western Australian gold region, close to existing processing infrastructure, provides an opportunity to assess potential development pathways as these studies progress. I would like to thank our team and contractors for their work in delivering this milestone."

*To view full Lodestar Minerals' ASX Announcement including tables and figures, please visit:
https://abnnewswire.net/lnk/LX0EA9UN

About Lodestar Minerals Ltd

Lodestar Minerals Limited (ASX:LSM) (OTCMKTS:LSMLF) is an active critical metals, gold and base metals explorerwith projects in Australia, Chile and the United States. The Company's portfolio includes the Virgin Mountain HREE Project in the United States; the Pacifico Cu-Mo Porphyry, Los Loros Cu-Mo-Au Porphyry and Three Saints IOCG projects in Chile; and the Ned's Creek Gold and Earaheedy projects in Western Australia. 

Lodestar also has exposure to lithium via its 27.5M performance rights in ORE Resources (ASX:OR3) (previously known as Future Battery Minerals, ASX-FBM) who own the Kangaroo Hills and Miriam Projects in Western Australia. 
 

   

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