Star Minerals Secures AU$1.6 million Funding to Advance Tumblegum South Gold Project

Star Minerals Limited (ASX: SMS) has secured firm commitments for an AU$1.6 million placement at AU$0.025 per share, backed by strategic, institutional, and sophisticated investors. CPS Capital Group Pty Ltd acted as Lead Manager. Notably, Bain Global Resources, associated with India's BGR Mining and Infra Limited, joins as a strategic shareholder. The funds will primarily support the development of the Tumblegum South Gold Project, including infill and extension drilling, a resource upgrade, approvals, environmental studies, and a feasibility study.

Additionally, funds will support new project generation and general working capital. The placement will occur in two tranches: AU$750,000 in Tranche 1 under existing placement capacity and AU$850,000 in Tranche 2, subject to shareholder approval.

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