Estrella Resources

Announcements

Estrella Resources Limited (ESR) is a diverse Western Australian based company, focused on the exploration and development of nickel projects and increasing shareholder value.

Roboto

We've signed a binding sales agreement with Repusource Pty Ltd to sell 27,000 tonnes of manganese ore from our Ira Miri project in Timor-Leste, with a ±5% option exercisable by the buyer.

This is a real commercial milestone. It follows the export authorisation we received on 28 October 2026 and moves our bulk sample a step closer to actually shipping and generating sales receipts. Repusource supplies manganese to processing customers across the Asia Pacific region, so this agreement gives us an efficient route into that market.

The sale sits within the Estrella Murak Rai joint venture, which we manage and hold 70% of, alongside our Timorese partner Murak Rai Timor. The tonnage covers the whole joint venture parcel, not just our share. Pricing is set at prevailing market rates, with specific terms kept commercially confidential, and the final price is subject to quality adjustment. Title stays with us until we receive full payment, and shipment is targeted within 30 to 45 days of contract and letter-of-credit execution.

It's worth being clear about what this is and isn't. This is a single bulk sample sale to test customer acceptance and the practical costs of getting Ira Miri manganese to market, it doesn't commit the buyer to future purchases, and it isn't approval for ongoing commercial mining. Signing the contract also doesn't itself mean shipment, revenue or cash in hand, those steps are still ahead of us.

We'll keep the market updated as shipping arrangements are finalised and delivery progresses.

If you have questions about this announcement, we'd welcome you sending them through.

We've lodged two Appendix 3Y notices this week, reporting changes to the security holdings of directors Les Pereira and Christopher Daws.

For Les Pereira, 164,000 listed options (exercisable at $0.018, expiring 13 December 2026) held through Nannook Holdings Pty Ltd's superannuation account were converted into 164,000 fully paid ordinary shares, for consideration of $2,952.

For Christopher Daws, 6,000,000 Class C Performance Rights were converted into 6,000,000 fully paid ordinary shares, with a non-cash value of $180,000. His direct holding now stands at 30,257,265 fully paid ordinary shares, alongside his other holdings and those held through the Moongold Super Fund and Nimbus Mines Pty Ltd, which are unchanged.

These are standard conversions of existing options and performance rights into shares, not new grants or on-market purchases. Both notices confirm the changes occurred outside any closed period requiring prior written clearance.

Director dealings like these are routine disclosures required under the ASX Listing Rules, and we report them as a matter of course so shareholders can see how director interests in the company evolve over time.

If you have questions about either notice, we'd encourage you to use the question box on this page.

This quarter marked a real shift in our Timor-Leste strategy, centred on the Laleno Dome, a large structure roughly 10km across that we've now shown carries genuine copper-gold porphyry potential.

Rock-chip sampling returned copper grades up to 0.66% from outcropping porphyritic rock, with some individual samples assaying far higher, and gold up to 1.3 g/t. Petrographic analysis confirmed the host rock is hydrothermally altered porphyritic diorite, consistent with a porphyry system. A drone-based electromagnetic survey also picked up large, high-conductivity "plumes" rising from depth across the Dome, the kind of targets worth drilling. Following period end, we received board approval for maiden drilling at Laleno Dome and started preparing drill sites, and a larger helicopter-borne survey has begun across our wider Lautem and Baucau licences.

At Ira Miri, we've now received export approval for the roughly 27,000 tonne manganese trial parcel, including 4,984 tonnes grading 49.38% Mn. A sales agreement still needs to be finalised, and we'll update the market once binding terms are signed.

At Werumata, an updated resource estimate lifted the total to 533Mt, with 274Mt now classified as Indicated, a meaningful upgrade in confidence from the earlier fully Inferred estimate.

Post-quarter, we also signed a binding agreement to divest our Spargoville Nickel Rights to Astral Resources for A$3,000,000 in Astral shares, subject to completion. We closed the quarter with A$2.852 million in cash.

If you've got questions about any of this, we'd like to hear them through the question box on this page.

We've received export authorisation from the Government of Timor-Leste to export our Ira Miri manganese bulk sample via the Tenu Port Facility. This is a meaningful step forward in moving the Ira Miri project from extraction and stockpiling towards an actual sale.

On the ground, causeway construction is underway at Tenu Port, and manganese is being moved from our stockpile to the loading area, ready for the barge and vessel to arrive.

It's worth being clear about what this approval does and doesn't mean. It covers the market appraisal parcel, approximately 27,000 tonnes, out of the up to 30,000 tonnes authorised for extraction under our January 2026 agreement with ANM. It is not an approval for ongoing commercial mining, and export approval on its own doesn't mean a sale has happened or that revenue has been recognised. Execution of the sales agreement is still conditional, and our next steps are to finalise binding sales terms and the logistics for shipment.

The real value here goes beyond this one parcel. It gives us a chance to see how customers respond to the material, test the export process in practice, and gather information that will guide our thinking on Ira Miri's longer-term development, including work towards a Category A Mining Licence.

We'll keep the market updated as binding sales terms and shipment arrangements are finalised.

If you have questions about this announcement, we'd encourage you to send them through.

We've lodged a short correction notice today relating to the Notice of Annual General Meeting we released earlier.

A typographical error was identified in the proxy form attached to that Notice, specifically in the "Step 1 - How to vote" section. We've corrected the wording so it now reads: "The Chair intends to vote undirected proxies in favour or at their discretion in all Resolutions in which the Chair is entitled to vote."

This is purely an administrative fix to the proxy form wording. It doesn't change the substance of the resolutions being put to the AGM or how you can vote on them.

If you've already submitted a proxy, or are preparing to, it's worth checking the corrected wording against your voting instructions.

If anything about this correction or the AGM itself is unclear, please get in touch through the question box on this page.

Our Annual General Meeting is coming up on Thursday 26 November 2026 at 12pm (WST), held at our Perth office at Level 8, 216 St Georges Terrace.

In line with the Corporations Act, we won't be posting hard copies of the Notice of Meeting unless you've specifically asked us to. You can view and download the full Notice from the ASX, or through the link on our investor hub announcements page.

If you haven't elected to receive notices by email, we'll send you a personalised proxy form so you can still lodge your vote easily.

We'd encourage you to lodge a directed proxy ahead of time and, if you have questions for the Board, to submit them in advance too. That gives us the best chance to prepare thoughtful answers before the meeting. That said, you're welcome to vote and ask questions on the day as well.

The Notice of Meeting is worth reading in full, as it sets out everything shareholders are being asked to vote on. If anything in it isn't clear, it's worth checking with your financial adviser, lawyer or accountant.

If you have any trouble getting hold of a copy, you can call us on +61 (08) 9481 0389.

If you have questions about this announcement, pop them in the question box on this page.

Our Annual General Meeting is set for Thursday, 26 November 2026, in Perth, and the notice sets out what we're asking shareholders to vote on.

The agenda includes our remuneration report (a non-binding vote), the re-election of Christopher Daws as a director, and approval for a standard 10% placement facility that would let us issue new shares within ASX limits without a separate vote each time. We're also asking shareholders to ratify 80,000,000 options already issued to Million Link (China) Investment Limited under our underwriting agreement for the listed options expiring in December 2026.

Four resolutions ask shareholders to approve performance rights for our directors, Leslie Pereira, Robert Mencel, John Kingswood and Christopher Daws, tied to milestones including a feasibility study outcome, a market capitalisation target, port development and a resource estimate. None of these rights convert unless those milestones are met.

Shareholders will also vote on electing two new directors, John Scholtz and Greg Plumb, and on lifting the cap on total fees paid to non-executive directors from $380,000 to $500,000 a year, to give the board room for future appointments.

Worth noting: the Chair intends to vote undirected proxies in favour of most resolutions, but against the election of Mr Scholtz and Mr Plumb. If you want your shares voted differently, you'll need to direct your own proxy.

All resolutions are subject to the votes cast on the day, and full conditions and voting exclusions are set out in the notice.

If anything here raises a question, we'd welcome you using the question box on this page.

We've issued 20,532,059 fully paid ordinary shares on 26 October 2026, and we're releasing this notice to the market as required under section 708A of the Corporations Act.

This type of notice is a standard compliance step that lets shares be issued without a full disclosure document, provided certain conditions are met. We're confirming to the ASX that those conditions are satisfied: our ongoing reporting obligations are up to date, and there's no information being withheld that investors or their advisers would reasonably need to assess Estrella's financial position, performance or prospects, or the rights attached to these new shares.

In plain terms, this is a procedural filing rather than news about our projects or finances. It formalises the issue of new shares and confirms we're meeting our continuous disclosure obligations as a listed company.

If you have questions about this announcement, we'd encourage you to use the question box on this page.

We've issued 20,532,059 new fully paid ordinary shares (ESR), bringing our total shares on issue to 2,277,051,619. This was a routine conversion, not a capital raise.

Of that total, 14,532,059 shares came from the exercise of options (ESROB) at a price of A$0.018 each, bringing in cash. The remaining 6,000,000 shares came from the conversion of Class C Share Performance Rights awarded to a director. Those rights were approved at our shareholder meeting on 28 November 2023 and vested on 18 July 2025, and no cash was paid for this portion, it reflects the director meeting the performance conditions set at that time.

All the new shares rank equally with our existing ordinary shares from their issue date, 26 October 2026.

Following this issue, we still have 527,479,266 options on issue (ESROB) plus a range of other unquoted options and performance rights, as set out in the announcement. These kinds of conversions happen periodically as options and rights reach their exercise or vesting conditions, and they are a normal part of managing our existing securities on issue rather than a new fundraising.

If you have questions about this announcement, we'd encourage you to use the question box on this page.

We've issued 4,574,333 fully paid ordinary shares on 20 October 2026, and we're required to lodge this notice under section 708A of the Corporations Act whenever shares are issued without a prospectus.

The notice is mostly a compliance formality. It confirms we've met our continuous disclosure obligations, that we're up to date with the governance and reporting requirements under Chapter 2M of the Corporations Act, and that there's no information being withheld that investors would reasonably need to assess our financial position, performance or prospects, or the rights attached to these new shares.

For shareholders, the practical effect is an increase in the number of ordinary shares on issue. The announcement doesn't set out what the shares were issued for or who received them, so we haven't speculated on that here.

If you've got questions about this announcement, we'd encourage you to send them through on the investor hub.

Date	Headline
30 Oct 2026 9:25 AM	ESR enters binding sales agreement for 27kt of Manganese
29 Oct 2026 7:06 PM	Change of Director's Interest Notice x 2
29 Oct 2026 4:38 PM	Quarterly Activities/Appendix 5B Cash Flow Report
28 Oct 2026 9:33 AM	Export authorisation received for Ira Miri Manganese Sample 1
27 Oct 2026 7:23 PM	Correction of typographical error - Notice of AGM
27 Oct 2026 5:28 PM	AGM - Letter to Shareholders
27 Oct 2026 5:19 PM	Notice of Annual General Meeting/Proxy Form 2
26 Oct 2026 5:55 PM	Cleansing notice under s708A
26 Oct 2026 5:52 PM	Application for quotation of securities - ESR
20 Oct 2026 6:32 PM	Cleansing notice under s708A