REG - East Star Resources - Significant Exploration Target: Rulikha Deposit

East Star ResourcesAnnouncement

26/11/2025 07:00

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RNS Number : 0659J  East Star Resources PLC  26 November 2025

26 November 2025

 

East Star Resources Plc

 

("East Star" or the "Company")

 

Significant Exploration Target for the Rulikha Deposit

 

East Star Resources Plc (LSE: EST), the Kazakhstan-focused gold and base
metals explorer, is pleased to announce an Independent JORC-Compliant
Exploration Target (the "Exploration Target") for the Soviet-era Rulikha
Deposit. The Rulikha Deposit is located primarily on East Star's 100%-owned
tenements in the East Region of Kazakhstan. The estimate contains an upper
limit of 23Mt @ 2.4% copper equivalent (CuEq), constrained by an open pit
using the processing recoveries and metal prices contained in Table 2 below.
Using the upper limit assessment, the deposit has the potential to contain
over 550,000 tonnes of copper; nearly double the CuEq metal of the Company's
Verkhuba Copper Deposit.

 

The town of Rulikha and the district of Shemonaikha have already provided East
Star with the required land access approvals to drill, however, further
environmental approvals are still required.

 

Highlights:

·      Near-surface, high-grade copper

o   Vein 1 contains very high Cu grades and significant thickness

o   Mineralisation begins from approximately 30 m depth resulting in a low
strip ratio

·      Multiple payable metals

o   Contributions from Zn, Ag, Pb and Au improve optionality and potential
economics

·      Excellent infrastructure

o   Rail (<2km), roads, power lines, existing concentrators within
trucking/rail distance

·      Large mineralised system

o   Numerous mineralised lenses over a 1.9 km strike

o   Additional untested anomalies (such as the Rulikha North IP target)
provide significant upside beyond current modelling

·      Water, the local settlement, and moving infrastructure are three
hurdles which need to be overcome for permitting drilling and any future
mining of this deposit

·      The full report can be found here:
https://www.eaststarplc.com/presentationsandreports
(https://www.eaststarplc.com/presentationsandreports)

 

Table 1: Exploration Target, Upper and Lower Limit

 

 Veins 1-3    Tonnage     Cu (%)  Contained Cu (t)  Au (g/t)  Au (oz)  Zn (%)  Zn (t)   Ag (g/t)  Ag (oz)
 Lower Limit  15,000,000  1%      150,000           0.1       48,000   0.80%   120,000  5         2,400,000
 Upper Limit  23,000,000  2%      460,000           0.3       222,000  1.50%   345,000  15        11,000,000

 

Independent Consultant Recommendations to Convert to a Mineral Resource

1.    Verification/twin drilling of Vein 1 and upper lens system

2.    Infill drilling to confirm continuity and reduce spacing

3.    Density measurements

4.    Metallurgical sampling

5.    Regulatory approvals for water-protection areas

 

Alex Walker, CEO of East Star Resources, commented:

 

"We're delighted to add a second and significant multi-element advanced
exploration target to our portfolio. If converted to a JORC resource, Rulikha
could increase our copper inventory by three times, while the economic
modelling, based on the limited historic drill data available, provides an
early indication of an extremely robust operation. East Star will need to
undertake the significant consulting work to advance this project, and we look
forward to working with the government and local communities to realise the
shared benefits such a development could bring."

 

Figure 1: Two Priority Target Areas Requiring Verification Drilling

 

 

Figure 2: Samples from Site Containing Copper Oxides and Sulphides Directly
Above Target 1

 

 In-situ copper oxide (malachite) at Target 1  In-situ sulphides at Target 1

 

Table 2: Pit Optimisation Parameters

                                    Value  Unit
 Ore Mining Cost                    2.00   USD$/t
 Waste Mining Cost                  2.00   USD$/t
 Mining Loss                        0.0    %
 Mining Dilution                    0.0    %
 Processing cost (Flotation)        20     USD$/t

 Processing recoveries:
 Copper                             90     wt %
 Zinc                               70     wt %
 Lead                               50     wt %
 Gold                               50     wt %

 T&R Cost                           4.0    USD$/t
 G&A Cost                           2.0    USD$/t

 Element price:
 Copper                             9,300  USD$/t
 Zinc                               2,500  USD$/t
 Lead                               1,750  USD$/t
 Gold                               3,000  USD$/oz

 Payability
 Copper                             90     wt %
 Zinc                               60     wt %
 Lead                               60     wt %
 Gold                               50     wt %

 Royalties:
 Copper                             8.6    wt %
 Zinc                               10.5   wt %
 Lead                               10.4   wt %
 Gold                               10.5   wt %

 Copper Equivalent (Cu_Eq) Factor:
 Copper                             1.000
 Zinc                               0.209
 Lead                               0.105
 Gold                               0.580

 Ore Density                        2.9    t/m(3)
 Waste Density                      2.9    t/m(3)
 Final Pit Slopes                   40     degrees
 Cutoff Grade                       0.50   Cu_Eq %

 

Reference

Nichols, R (2025) Estimation and Reporting of an Exploration Target for the
Rulikha Deposit, East Kazakhstan. [Accessed 20 November 2025]. Available at:
https://www.eaststarplc.com/presentationsandreports
(https://www.eaststarplc.com/presentationsandreports)

 

Contacts:

 

East Star Resources Plc

Alex Walker, Chief Executive Officer

Tel: +44 (0)20 7390 0234 (via Vigo Consulting)

 

SI Capital (Corporate Broker)

Nick Emerson

Tel: +44 (0)1483 413 500

 

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob / Anna Stacey

Tel: +44 (0)20 7390 0234

 

About East Star Resources Plc

 

East Star Resources is focused on the discovery and development of copper and
gold in Kazakhstan. The Company is pursuing multiple exploration strategies
including:

 

·    Volcanogenic massive sulphide (VMS) exploration, which to date
includes a deposit with a maiden JORC MRE of 20.3Mt @ 1.16% copper, 1.54% zinc
and 0.27% lead, in an infrastructure-rich region, amenable to a low capex
development

·    Copper porphyry and epithermal gold exploration, with multiple
opportunities for Tier 1 deposits and a $25 million+ strategic JV agreement
with Endeavour Mining for gold exploration

 

Visit our website:

www.eaststarplc.com

 

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/east-star-resources/
(https://www.linkedin.com/company/east-star-resources/)

 

X: https://x.com/EastStar_PLC (https://x.com/EastStar_PLC)

 

Subscribe to our email alert service to be notified whenever East Star
releases news:

 

www.eaststarplc.com/newsalerts (http://www.eaststarplc.com/newsalerts)

 

The person who arranged for the release of this announcement was Alex Walker,
CEO of the Company.

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market
Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the
publication of this announcement, this inside information (as defined in UK
MAR) is now considered to be in the public domain.

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