THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

3 April 2023

East Star Resources Plc

("East Star" or the "Company")

Talairyk Rare Earths Project Update, Kazakhstan

East Star Resources Plc (LSE:EST), which is defining mineral resources in Kazakhstan for the energy revolution, is pleased to announce assay results from initial drilling to test the Talairyk project for Rare Earth Element ("REE") concentrations in East Kostanay, Kazakhstan. The results demonstrate high grade intersections across the entire tested area and broad intersections in every drill hole, validating historical data and providing a strong indication of an REE deposit of consequential size and grade.

Highlights:

·    13 Reverse Circulation ("RC") drill holes for 473 m, with an average depth of 36.9 m, were sampled and sent for assay as individual and composite samples of up to 4 m

·    Samples analysed reported Total Rare Earth Oxides ("TREO") (includes yttrium oxide Y₂O₃) with an average grade of 934.4 ppm with the highest-grade result of 2m at 6,127 ppm TREO from 8 m in DH TLR_010

·    Reported TREO grades are:

o  TLR_001: 22 m @ 1,341 ppm from surface including 16m @ 1,537 ppm from 2 m

o  TLR_006: 36 m @ 730 ppm from surface including 14 m @ 860 ppm from 4 m

o  TLR_010: 29 m @ 2,193 ppm from 1 m including 17 m @ 3,139 ppm from 1 m

o  TLR_011: 32 m @ 1,045 ppm from surface including 15m @ 1,277ppm from 1 m

o  TLR_014: 45 m @ 1,222 ppm from surface including 17m @ 1,995 ppm from surface

o  TLR_015: 51 m @ 744 ppm from surface including 10 m @ 845 ppm from 15 m

o  TLR_017: 44 m @ 1,122 ppm from surface including 11 m @ 2,154 ppm from 17 m

o  TLR_018: 52 m @ 705 ppm from surface including 6 m @ 1,424 ppm from 5 m

o  TLR_019: 48 m @ 609 ppm from surface including 10 m @ 811 ppm from 10 m

o  TLR_025: 33 m @ 738 ppm from 1 m including 2 m @ 1,283ppm from 28 m

o  TLR_027: 40 m @ 555 ppm from 1 m             

o  TLR_028: 18 m @ 957 ppm from 1 m including 5 m @ 1,579 ppm from 12 m

o  TLR_029: 26 m @ 847 ppm from surface including 8 m @ 1,157ppm from surface

·    Selected samples will be sent for five-stage sequential leach test work, which will give an initial indication as to the leachability of the REEs from the clays

Alex Walker, East Star CEO, commented:

''We are extremely pleased with these results which demonstrate high grade intersections and validate the historical reports on the Talairyk REE project and provide a strong indication of an REE deposit of consequential size and grade.

"Planning will soon begin to continue drilling the Talairyk deposit in parallel with our copper-zinc-lead exploration in the NE of Kazakhstan with the same intention of converting it to a JORC-compliant resource.  We will also test 12 km of granitic strike within the Talairyk licence areas which offer additional resource upside potential.

"Leach test work will begin shortly, the results of which, along with resource drilling, we hope will form the basis of a scoping study to define potential project economics."

Figure 1 Location of drill results demonstrating high grade intersections across the entire tested area and broad intersections in every drill hole.

Next Steps

East Star will shortly commence a five-stage sequential leach analyses of at least eight samples selected from drill intercepts across the deposit. These samples will undergo three sample splits to test the below leaching methods:

Stage 1:

a.    sodium or magnesium chloride leach,

b.    magnesium sulphate leach, or

c.     ammonium sulphate

Stage 2 - Acetic acid leach

Stage 3 - Hydroxylammonium chloride leach

Stage 4 - Hydrogen peroxide + ammonium acetate leach and

Stage 5 - Nitric Acid leach

All samples with also undergo X-ray Diffraction (XRD) to understand their mineralogy.

If the results of the leach test work indicate a potentially economic leaching process, East Star will immediately begin planning the next phase of exploration drilling intended to convert the Talairyk deposit to a JORC-compliant Mineral Resource Estimate and test more than 12 km of potential strike within the licence areas.

Figure 2 Talairyk and Talairyk 1 licence areas with mapped granites as potential sources for overlying REE deposits indicating the immediate area for step out exploration.

Drilling Summary

In October 2022, East Star undertook a 30-hole, 1,001m, RC drill programme at the southwestern area of the Talairyk REE project to confirm historical reports of REEs in kaolinitic clays (regolith) at the project. Drilling intersected a typical regolith layer with a thick kaolinite zone (~33 m thick on average) overlying the fresh granite.

1 m drilling intervals were used for sampling whereby the drill operator advanced in 1 m increments, stopping the advance and rotation after each, allowing the compressed air to blow all sample material through the tube and cyclone, into the relevant numbered sample collection bags. The cyclone and tube were cleaned with compressed air between each run to limit contamination between runs. The drilling was noted to have inconsistencies in sample weights due to the sample cyclone malfunctioning. However, the rig was satisfactorily flushed between metre runs.

Sampling Summary

Holes were selected based on yttrium readings of a hand-held XRF undertaken by East Star geologists in Karaganda. Three standards, two blanks and three duplicates were included as QA/QC in the total of 163 samples analysed. The CRM samples returned acceptable values. Blank material used local brick materials that were thought to have low grades of REE. However, the analyses showed that REEs were concentrated in the material. Therefore, the Company was unable to check for sample contamination in the preparation process. Sample pulp duplicates showed satisfactory repeatability of analyses by the laboratory. Despite these issues, the programme achieved the aim of confirming the presence of REEs in regolith at the Talairyk deposit.

For further information visit the Company's website at www.eaststarplc.com, or contact: 

East Star Resources Plc

Alex Walker, Chief Executive Officer

Tel: +44 (0)20 7390 0234 (via Vigo Consulting)

Peterhouse Capital Limited (Corporate Broker and Placing Agent)

Duncan Vasey / Lucy Williams

Tel: +44 (0) 20 7469 0930

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob

Tel: +44 (0)20 7390 0234

About East Star Resources Plc

East Star Resources is focused on the discovery and development of strategic minerals required for the energy revolution. With an initial nine licenses covering 1,321.5 km² in three mineral rich districts of Kazakhstan, East Star is undertaking an intensive exploration programme, applying modern geophysics to discover minerals in levels that were not previously explored. The Company also intends to further expand its licence portfolio in Kazakhstan. East Star's management are based permanently on the ground, supported by local expertise, and joint ventures with the state mining company.

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

Competent Person's Statement

Scientific or technical information in this disclosure related to exploration was reviewed by Dr Tremain Woods, a full-time employee of MSA Minerals Consulting Ltd. Dr Woods is a member in good standing with the Geological Society of South Africa. He has sufficient experience in exploration of the mineral deposits to undertake as a Competent Person for exploration results.