Exercise of Warrants

East Star Resources Plc (LSE: EST), the Kazakhstan-focused gold and base metals explorer, is pleased to announce that it has received warrant exercise notices to subscribe for a total of 25,590,545 new ordinary shares of £0.01 each in the Company ("Ordinary Shares") (the "Warrant Shares").

A total of 25,590,545 Warrant Shares have been exercised at a price of £0.03 pence per Ordinary Share resulting in total gross proceeds to the Company of £767,716.

Admission

Application has been made for the Warrant Shares to be admitted to the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange, and admission of the Warrant Shares is expected to occur on or around 6 January 2026 ("Admission"). The Warrant Shares will rank pari passu with the existing Ordinary Shares.

For the purpose of the Disclosure and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 475,175,080 Ordinary Shares. The Company does not hold any shares in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

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