Lodestar Minerals Ltd (LSR.AX) October Investor Presentation: Reports Maiden Inferred Gold Resource at Ned's Creek

Perth, Oct 28, 2026 AEST (ABN Newswire) - Lodestar Minerals Limited (ASX:LSR) (3EJ:FRA) (LSMLF:OTCMKTS) has reported a maiden Mineral Resource Estimate at its 100% owned Ned's Creek Gold Project in Western Australia of 5.9 Mt at 1.16 g/t Au, for 221,000 ounces of gold, reported at a cut-off grade of 0.5 g/t Au and classified entirely as Inferred under the JORC Code (2012 Edition).

Ned's Creek resource and planned drilling

Three deposits contribute to the maiden resource, announced on 22 October 2026. Mineralisation remains open along strike and at depth, with parallel structures underexplored.

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

Lodestar has also defined an Exploration Target outside the maiden Mineral Resource in the range of 5.8 to 7.1 Mt at 0.86 to 1.15 g/t Au containing 159,000 to 264,000 ounces of gold.

The Exploration Target's potential quantity and grade are 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.

Follow-up drilling is planned to commence in Q4 CY2026, aiming to improve confidence in the existing resource and test extensions outside its current boundaries. The company's October 2026 investor presentation outlines 10,000m of drilling planned from Q4 2026 into 2027.

The programmes are intended to test extensions, infill gaps and collect metallurgical, structural and density data. Programmes are staged through 2027 to support a resource update.

Environmental, heritage and technical studies, including metallurgical test work, are underway to support a planned Mining Lease application in early CY2027.

Virgin Mountain exploration

At the Virgin Mountain Heavy Rare Earths Project in Arizona, USA, rock sampling returned 14.68% TREO in sample NGR051, with heavy rare earth oxides comprising 59% of the contained rare earths.

Separately, sample CA053 returned 1.41% TREO, with heavy rare earth oxides comprising 64% of the contained rare earths. The presentation identifies xenotime as the host mineral for the heavy rare earth mineralisation.

Planned work includes a high-resolution radiometric survey, ground follow-up of identified targets and a structural assessment to support drill planning. Drill permitting is to progress in parallel, with further work also to include a dedicated metallurgical test work programme.

Chilean copper portfolio

At Los Loros, completed IP+MT and magnetometry surveys have defined five new Cu-Mo-Au targets at the Aguila Prospect ranging 150-800m depth, ahead of maiden Lodestar drilling.

At Three Saints, combined results from maiden drill holes L3SRD003 and L3SDD004 provide geological and geochemical vectors to refine targeting beneath extensive cover. The presentation describes a mineralised IOCG-type system.

At the Pacifico copper-molybdenum-gold porphyry project in Chile's Paleocene Porphyry Copper Belt, the presentation identifies northern, central and southern target areas. Most historical drilling clustered at the two edges of the porphyry corridor, leaving the central area untested.

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Editorial Note:

This media release has been independently prepared by ABN Newswire editorial staff based on Lodestar Minerals' October Investor Presentation. 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 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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