Quarterly Activities/Appendix 5B Cash Flow Report

Estrella Resources (ASX: ESR) has emerged as the largest concession holder in the unexplored region of Timor-Leste, with new Exploration and Evaluation Concessions awarded in the Baucau Municipality. The company now holds a total landholding of 698.1 km², including high-grade manganese discoveries in the Sica Prospect and Samalari manganese prospect. Laboratory assays have confirmed high-grade manganese results, with surface samples showing concentrations between 57% - 26% Mn.

In terms of corporate updates, Estrella had $370k cash in bank at the end of September 2024 and has entered into a Subscription Agreement with a strategic investor for further manganese exploration. Additionally, a two-tranche placement post-quarter end raised $1.25M. The company's cash and cash equivalents stood at $370k at the end of the quarter.

The company reported a net cash outflow from operating activities of $215k, mainly driven by staff costs and administration expenses. Investing activities included payments for exploration and evaluation, with net cash outflow of $95k. Financing activities resulted in a net cash inflow of $483k, including proceeds from issues of equity securities. Estrella's estimated quarters of funding available are 0.78, with additional funding raised through placements to support ongoing operations and exploration efforts. For more details, refer to the full ASX release dated 29 October 2024. Investors are welcome to ask any questions they may have regarding this update.