Proposed Subscription & WRAP Retail Offer

East Star Resources Plc (LSE:EST), which is exploring for copper and gold in Kazakhstan, provides the following updates. The Company expects to mobilise the drill rig in the East Region of Kazakhstan within the next week to commence a drilling programme focusing on several volcanogenic massive sulfide ("VMS") targets which the Company considers are prospective for high-grade base and precious metals including copper, zinc, lead, gold and silver.

In order to provide cost-effective optionality to immediately expand the current drilling programme at Rulikha, Talovskoye and Verkhuba, subject to drill results from each target, the Company has received investor demand and is proposing to raise £250,000 via a subscription (the "Subscription") for 19,230,769 new Ordinary shares (the "Subscription Shares") at a price of 1.3 pence per Ordinary Share (the "Issue Price"). The Issue Price represents a 3.8% discount to the closing price of the Company's shares on 4 June 2025 being the last practicable date prior to this announcement.

The Company also intends to conduct a retail offer via the Winterflood Retail Access Platform ("WRAP ") to existing shareholders for up to a further £200,000 at 1.3 pence per share for up to 15,384,615 new Ordinary shares ("WRAP Shares") to participate on similar terms, with details set out below ("WRAP Retail Offer"). The proceeds of the WRAP Retail Offer will be used in the same way as the proceeds of the Subscription as stated above.

The Subscription and the WRAP Retail Offer are independent and conditional, respectively, on the Subscription Shares and the WRAP Shares (together the "New Ordinary Shares") being admitted to trading on the Main Market of the London Stock Exchange and to listing to the equity shares (transition) category of the FCA's Official List ("Admission"). It is anticipated that Admission will become effective and that dealings in the New Ordinary shares will commence at 8 a.m. on or around 13 June 2025 (following closing of the WRAP Retail Offer). The Company reserves the right to amend the size of the WRAP Retail Offer and the Subscription at its discretion. The Company reserves the right to scale back any order and to reject any application for subscription under the WRAP Retail Offer without giving any reason for such rejection. A further announcement will be made in due course with respect to the final results of the WRAP Retail Offer and the Subscription.

WRAP Retail Offer

Therefore, the Company is making the WRAP Retail Offer open to eligible investors in the United Kingdom, being existing shareholders of East Star, through certain financial intermediaries. Existing shareholders can contact their broker or wealth manager to participate in the WRAP Retail Offer.

The WRAP Retail Offer is expected to close at 4.30 p.m. on 9 June 2025. Eligible shareholders should note that financial intermediaries may have earlier closing times.

There is a minimum subscription of £500 per investor under the WRAP Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.

It is a term of the WRAP Retail Offer that the total value of the WRAP Retail Offer Shares available for subscription at the Issue Price does not exceed £200,000, or such size as agreed by the Company.

East Star Resources Plc

Alex Walker, Chief Executive Officer

SI Capital (Corporate Broker)

Nick Emerson

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob

Winterflood Retail Access Platform

Kaitlan Billings / Sophia Bechev

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

The Company's LEI number is: 2138001Y6SMQC8DX2B40