Sandstone Gold Royalty

Royalty: 2% Gross Revenue Royalty

Red Hill Minerals owns a 2% Gross Revenue Royalty over the Sandstone Gold Project tenements⁽¹⁾.

The tenements form part of Brightstar Resources Limited’s (ASX: BTR) Sandstone Gold Project acquired through its scheme of arrangement with Alto Metals Limited completed in December 2024⁽²⁾.

The royalty tenements cover approximately 443 km² and contain an unconstrained Mineral Resource of 23.5 Mt @ 1.4 g/t Au for 1,046,000 oz predominantly on granted mining leases (or 17.7 Mt @ 1.4 g/t Au for 0.83 Moz Au constrained within optimised pit shells using a gold price of A$2,500/oz Au)^(2,3).

Since completion of the scheme of arrangement, Brightstar has commenced exploration on the tenements and is planning an aggressive exploration program for the coming field season involving approximately 80,000m of drilling across their Sandstone Hub in CY25⁽⁴⁾.

⁽¹⁾ Refer RHI ASX announcement dated 28 April 2025

⁽²⁾ Refer Brightstar Resources ASX announcement "Scheme Booklet registered by ASIC" dated 14 October 2024

⁽³⁾ The current Mineral Resource Estimate for the Sandstone Gold Project was reported to the ASX via Alto Metals Limited on:

3 April 2023 ("Significant increase in shallow gold resources at Sandstone Gold Project") – for the Indomitable, Indomitable East, Musketeer, Lord Nelson, and Bull Oak Mineral Resources.
23 March 2022 ("Sandstone Mineral Resource increases by 92% to 12.4 Mt @ 1.6 g/t gold for 635,000 ounces") – for the Lord Henry, Havilah, Maninga Marley, Vanguard, and Vanguard North Mineral Resources.
11 June 2019 ("Alto increases total Mineral Resource Estimate to 290,000 oz Sandstone Gold Project") – for the Ladybird Mineral Resource.
25 September 2018 ("Maiden Gold Resource at Indomitable and Vanguard Camps, Sandstone, WA") – for the Piper and Tiger Moth Mineral Resources.

⁽⁴⁾ Refer Brightstar Resources ASX Release “Near-surface, high-grade gold drilling results from Sandstone’s Vanguard Camp - updated” Announcement dated 10 April 2025.