# LSA: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03143414 Publisher: asx Original announcement: 2026-09-24T05:05:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-24T06:12:07.531Z Atlas analysis updated: 2026-09-24T06:12:07.531Z - Company: Lachlan Star Limited - Ticker: LSA - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: Copper, Nickel, Pge - Document categories: Drill results, Capital raise, Agreement transaction - Extracted: 2026-09-24 06:12:08 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Lachlan Star Limited reported a significant year marked by the acquisition and rapid advancement of the New Waverley Gold Project in Western Australia, yielding multiple shallow, high-grade gold intercepts from maiden and follow-up drilling. The company successfully completed two capital raises totaling $9.36 million, strengthening its balance sheet and funding ongoing exploration at New Waverley and other projects. While drilling at North Cobar did not intersect economic mineralization, the New Waverley discovery has reshaped the company's strategic focus, with mineralization remaining open along strike, down-plunge, and at depth. Reasoning: Lachlan Star Limited reported significant high-grade gold intercepts from maiden and follow-up drilling at its newly acquired New Waverley Gold Project, indicating a potentially substantial gold system that remains open. This was supported by successful capital raises, a strengthened financial position, and a reduced net loss, marking a highly positive year for the company's exploration and growth strategy. - Positive factor: High-grade gold intercepts - Positive factor: Multiple new intercepts - Positive factor: Mineralization open along strike, down-plunge, and at depth - Positive factor: Successful capital raises providing strong funding - Positive factor: Strategic acquisition of a high-potential project - Positive factor: Reduced financial loss compared to prior year - Positive factor: Increased cash position - Positive factor: Competent Person sign-off on exploration results - Negative factor: No true width reported for most drill intercepts - Negative factor: No specific QA/QC methods \(e.g., blanks, standards, duplicates\) disclosed beyond CP statement - Negative factor: No cut-off grades explicitly stated for drill results - Negative factor: North Cobar drilling did not intersect significant economic mineralization Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 38 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: Multiple drill intercepts at New Waverley, such as 2.9m at 17.7g/t Au and 0.7m at 27.97g/t Au, exceed the exceptional threshold for gold in an open-pit setting. Evidence · text > 2.9m at 17.7g/t Au \(NWDD006\) **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Follow-up RC drilling at New Waverley targeted extensions along strike and down-plunge, successfully extending known mineralization. Evidence · text > Drilling targeted known mineralisation and extensions along strike and down-plunge **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The report includes a Competent Person Statement by Mr Alan Hawkins, indicating professional oversight of the exploration results. Evidence · text > The information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Alan Hawkins, who is a Competent Person **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: Drill intercepts are reported as downhole lengths without explicit true width or drill orientation information, which may overstate true thickness. Evidence · text > 6.15m at 8.6g/t Au from 46.9m **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: While a Competent Person is named, specific QA/QC methods such as blanks, standards, or duplicates are not detailed in the release, limiting verifiability of assay protocols. Evidence · text > The information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Alan Hawkins, who is a Competent Person **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: No cut-off grades are stated for the reported drill intercepts, making it difficult to assess the economic significance of the intervals. Evidence · text > Significant results from this first round of drilling included: • 6.15m at 8.6g/t Au from 46.9m **Maiden Resource** Polarity: neutral Story-specific tag Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The New Waverley Gold Project is undergoing maiden diamond and follow-up RC drilling, with the intent to progressively evaluate the resource potential, indicating it is at an early stage of resource definition. Evidence · text > Maiden Diamond Drilling and High-Grade Discovery ## Extracted facts Stored fact records: 38. Some facts used in scoring do not have a stored record. ## Drill Results (38) ### NWDD006 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-0) New Waverley · gold #### Identity - Hole ID: NWDD006 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 8.6 - Grade Unit: g/t - Intercept: 6.15 m - From: 46.9 m - To: 53.05 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD006:46.9-53.05 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This intercept represents a bonanza-grade gold result from maiden drilling at a shallow depth, indicating significant mineralization potential at the newly acquired project. - Positive factor: Bonanza Intercept - Positive factor: High-grade gold intercept - Positive factor: Shallow depth - Positive factor: Maiden drilling program - Negative factor: Apparent Width Only Evidence · text > 6.15m at 8.6g/t Au from 46.9m, including 2.9m at 17.7g/t Au \(NWDD006\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD006 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-1) New Waverley · gold #### Identity - Hole ID: NWDD006 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 17.7 - Grade Unit: g/t - Intercept: 2.9 m - From: 50.2 m - To: 53.1 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD006:50.2-53.1 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows exceptionally high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: Exceptionally high-grade sub-interval - Positive factor: Shallow depth - Positive factor: Visible gold observed - Negative factor: Apparent Width Only Evidence · text > including 2.9m at 17.7g/t Au \(NWDD006\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD013 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-2) New Waverley · gold #### Identity - Hole ID: NWDD013 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 2.65 - Grade Unit: g/t - Intercept: 7.6 m - From: 18.5 m - To: 26.1 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD013:18.5-26.1 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong gold intercept from maiden drilling at a very shallow depth, contributing to the overall positive results from the new project. - Positive factor: High-grade gold intercept - Positive factor: Shallow depth - Positive factor: Maiden drilling program - Negative factor: Apparent Width Only Evidence · text > 7.6m at 2.65g/t Au from 18.5m, including 0.7m at 27.97g/t Au \(NWDD013\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD013 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-3) New Waverley · gold #### Identity - Hole ID: NWDD013 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 27.97 - Grade Unit: g/t - Intercept: 0.7 m - From: 24.4 m - To: 25.1 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD013:24.4-25.1 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows exceptionally high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: Exceptionally high-grade sub-interval - Positive factor: Shallow depth - Positive factor: Visible gold observed - Negative factor: Apparent Width Only Evidence · text > including 0.7m at 27.97g/t Au \(NWDD013\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD010 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-4) New Waverley · gold #### Identity - Hole ID: NWDD010 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 9.83 - Grade Unit: g/t - Intercept: 1.6 m - From: 44.5 m - To: 46.1 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD010:44.5-46.1 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade gold intercept from maiden drilling at a shallow depth, contributing to the overall positive results from the new project. - Positive factor: Bonanza Intercept - Positive factor: High-grade gold intercept - Positive factor: Shallow depth - Positive factor: Maiden drilling program - Negative factor: Apparent Width Only Evidence · text > 1.6m at 9.83g/t Au from 44.5m, including 0.6m at 24.91g/t Au \(NWDD010\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD010 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-5) New Waverley · gold #### Identity - Hole ID: NWDD010 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 24.91 - Grade Unit: g/t - Intercept: 0.6 m - From: 16.5 m - To: 17.1 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD010:16.5-17.1 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows exceptionally high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: Exceptionally high-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 0.6m at 24.91g/t Au \(NWDD010\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD004 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-6) New Waverley · gold #### Identity - Hole ID: NWDD004 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 4.24 - Grade Unit: g/t - Intercept: 4.6 m - From: 18.5 m - To: 23.1 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD004:18.5-23.1 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong gold intercept from maiden drilling at a very shallow depth, contributing to the overall positive results from the new project. - Positive factor: High-grade gold intercept - Positive factor: Shallow depth - Positive factor: Maiden drilling program - Negative factor: Apparent Width Only Evidence · text > 4.6m at 4.24g/t Au from 18.5m, including 0.9m at 21.5g/t Au \(NWDD004\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD004 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-7) New Waverley · gold #### Identity - Hole ID: NWDD004 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 21.5 - Grade Unit: g/t - Intercept: 0.9 m - From: 16.5 m - To: 17.4 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD004:16.5-17.4 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows exceptionally high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: Exceptionally high-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 0.9m at 21.5g/t Au \(NWDD004\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD003 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-8) New Waverley · gold #### Identity - Hole ID: NWDD003 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 1.55 - Grade Unit: g/t - Intercept: 7 m - From: 16.5 m - To: 23.5 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD003:16.5-23.5 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade gold intercept from maiden drilling at a very shallow depth, contributing to the overall positive results from the new project. - Positive factor: Moderate-grade gold intercept - Positive factor: Shallow depth - Positive factor: Maiden drilling program - Negative factor: Apparent Width Only Evidence · text > 7.0m at 1.55g/t Au from 16.5m, including 1.7m at 5.48g/t Au \(NWDD003\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWDD003 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-9) New Waverley · gold #### Identity - Hole ID: NWDD003 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 5.48 - Grade Unit: g/t - Intercept: 1.7 m - From: 16.5 m - To: 18.2 m - Intercept Depth: 16.5 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWDD003:16.5-18.2 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows high-grade gold, enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: High-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 1.7m at 5.48g/t Au \(NWDD003\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC052 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-10) New Waverley · gold #### Identity - Hole ID: NWRC052 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 4 - Grade Unit: g/t - Intercept: 13 m - From: 46 m - To: 59 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC052:46-59 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong, broad gold intercept from follow-up RC drilling, confirming the continuity of high-grade mineralization at shallow depth. - Positive factor: High-grade gold intercept - Positive factor: Good intercept length - Positive factor: Shallow depth - Positive factor: Follow-up drilling confirming discovery - Negative factor: Apparent Width Only Evidence · text > 13m at 4.0g/t Au from 46m, including 3m at 15.2g/t Au from 52m \(NWRC052\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC052 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-11) New Waverley · gold #### Identity - Hole ID: NWRC052 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 15.2 - Grade Unit: g/t - Intercept: 3 m - From: 52 m - To: 55 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC052:52-55 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows exceptionally high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: Exceptionally high-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 3m at 15.2g/t Au from 52m \(NWRC052\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC051 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-12) New Waverley · gold #### Identity - Hole ID: NWRC051 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 6.61 - Grade Unit: g/t - Intercept: 7 m - From: 46 m - To: 53 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC051:46-53 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong, broad gold intercept from follow-up RC drilling, confirming the continuity of high-grade mineralization at shallow depth. - Positive factor: Bonanza Intercept - Positive factor: High-grade gold intercept - Positive factor: Good intercept length - Positive factor: Shallow depth - Positive factor: Follow-up drilling confirming discovery - Negative factor: Apparent Width Only Evidence · text > 7m at 6.61g/t Au from 46m, including 2m at 21.0g/t Au from 46m \(NWRC051\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC051 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-13) New Waverley · gold #### Identity - Hole ID: NWRC051 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 21 - Grade Unit: g/t - Intercept: 2 m - From: 46 m - To: 48 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC051:46-48 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows exceptionally high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: Exceptionally high-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 2m at 21.0g/t Au from 46m \(NWRC051\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC048 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-14) New Waverley · gold #### Identity - Hole ID: NWRC048 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 3.14 - Grade Unit: g/t - Intercept: 13 m - From: 50 m - To: 63 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC048:50-63 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong, broad gold intercept from follow-up RC drilling, confirming the continuity of high-grade mineralization at shallow depth. - Positive factor: High-grade gold intercept - Positive factor: Good intercept length - Positive factor: Shallow depth - Positive factor: Follow-up drilling confirming discovery - Negative factor: Apparent Width Only Evidence · text > 13m at 3.14g/t Au from 50m, including 3m at 11.1g/t Au from 55m \(NWRC048\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC048 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-15) New Waverley · gold #### Identity - Hole ID: NWRC048 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 11.1 - Grade Unit: g/t - Intercept: 3 m - From: 55 m - To: 58 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC048:55-58 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: High-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 3m at 11.1g/t Au from 55m \(NWRC048\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC050 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-16) New Waverley · gold #### Identity - Hole ID: NWRC050 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 4.42 - Grade Unit: g/t - Intercept: 8 m - From: 46 m - To: 54 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC050:46-54 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong, broad gold intercept from follow-up RC drilling, confirming the continuity of high-grade mineralization at shallow depth. - Positive factor: High-grade gold intercept - Positive factor: Good intercept length - Positive factor: Shallow depth - Positive factor: Follow-up drilling confirming discovery - Negative factor: Apparent Width Only Evidence · text > 8m at 4.42g/t Au from 46m, including 5m at 7.0g/t Au from 49m \(NWRC050\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC050 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-17) New Waverley · gold #### Identity - Hole ID: NWRC050 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 7 - Grade Unit: g/t - Intercept: 5 m - From: 49 m - To: 54 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC050:49-54 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: High-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 5m at 7.0g/t Au from 49m \(NWRC050\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC080 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-18) New Waverley · gold #### Identity - Hole ID: NWRC080 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 4.01 - Grade Unit: g/t - Intercept: 12 m - From: 48 m - To: 60 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC080:48-60 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong, broad gold intercept from follow-up RC drilling, confirming the continuity of high-grade mineralization at shallow depth. - Positive factor: High-grade gold intercept - Positive factor: Good intercept length - Positive factor: Shallow depth - Positive factor: Follow-up drilling confirming discovery - Negative factor: Apparent Width Only Evidence · text > 12m at 4.01g/t Au from 48m, including 8m at 5.77g/t Au \(NWRC080\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC080 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-19) New Waverley · gold #### Identity - Hole ID: NWRC080 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 5.77 - Grade Unit: g/t - Intercept: 8 m - From: 46 m - To: 54 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC080:46-54 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows high-grade gold, further enhancing the significance of the overall intercept and indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: High-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 8m at 5.77g/t Au \(NWRC080\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NWRC079 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-20) New Waverley · gold #### Identity - Hole ID: NWRC079 - Project: New Waverley - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 3.31 - Grade Unit: g/t - Intercept: 4 m - From: 52 m - To: 56 m - Intercept Depth: 46 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NWRC079:52-56 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A solid gold intercept from follow-up RC drilling, confirming mineralization at shallow depth. - Positive factor: High-grade gold intercept - Positive factor: Shallow depth - Positive factor: Follow-up drilling confirming discovery - Negative factor: Apparent Width Only Evidence · text > 4m at 3.31g/t Au from 52m \(NWRC079\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KRC007 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-21) Killaloe · gold #### Identity - Hole ID: KRC007 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 2.11 - Grade Unit: g/t - Intercept: 9 m - From: 81 m - To: 90 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KRC007:81-90 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade gold intercept from maiden drilling at Killaloe, indicating mineralization. - Positive factor: Moderate-grade gold intercept - Positive factor: Good intercept length - Negative factor: Apparent Width Only Evidence · text > 9m at 2.11g/t Au from 81m, including 2m at 8.60g/t Au \(KRC007\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KRC007 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-22) Killaloe · gold #### Identity - Hole ID: KRC007 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 8.6 - Grade Unit: g/t - Intercept: 2 m - From: 8 m - To: 10 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KRC007:8-10 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows high-grade gold, enhancing the significance of the overall intercept. - Positive factor: Bonanza Intercept - Positive factor: High-grade sub-interval - Negative factor: Apparent Width Only Evidence · text > including 2m at 8.60g/t Au \(KRC007\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KAC0039 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-23) Killaloe · gold #### Identity - Hole ID: KAC0039 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 0.7 - Grade Unit: g/t - Intercept: 24 m - From: 8 m - To: 32 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KAC0039:8-32 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A broad, shallow gold intercept from maiden drilling at Killaloe, indicating widespread mineralization. - Positive factor: Broad gold mineralization - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > 24m at 0.70g/t Au from 8m, including 4m at 1.39g/t Au \(KAC0039\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KAC0039 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-24) Killaloe · gold #### Identity - Hole ID: KAC0039 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 1.39 - Grade Unit: g/t - Intercept: 4 m - From: 8 m - To: 12 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KAC0039:8-12 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows moderate-grade gold, enhancing the significance of the overall intercept. - Positive factor: Moderate-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 4m at 1.39g/t Au \(KAC0039\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KAC0135 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-25) Killaloe · gold #### Identity - Hole ID: KAC0135 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 2.33 - Grade Unit: g/t - Intercept: 6 m - From: 48 m - To: 54 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KAC0135:48-54 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade gold intercept from maiden drilling at Killaloe, indicating mineralization. - Positive factor: Moderate-grade gold intercept - Positive factor: Good intercept length - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > 6m at 2.33g/t Au from 48m to end-of-hole, including 1m at 4.79g/t Au \(KAC0135\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KAC0135 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-26) Killaloe · gold #### Identity - Hole ID: KAC0135 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 4.79 - Grade Unit: g/t - Intercept: 1 m - From: 8 m - To: 9 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KAC0135:8-9 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: This sub-interval shows high-grade gold, enhancing the significance of the overall intercept. - Positive factor: High-grade sub-interval - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > including 1m at 4.79g/t Au \(KAC0135\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KRC026 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-27) Killaloe · gold #### Identity - Hole ID: KRC026 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 0.52 - Grade Unit: g/t - Intercept: 13 m - From: 25 m - To: 38 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KRC026:25-38 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A broad, shallow gold intercept from follow-up drilling at Killaloe, indicating continued mineralization. - Positive factor: Broad gold mineralization - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > 13m at 0.52g/t Au from 25m \(KRC026\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KRC027 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-28) Killaloe · gold #### Identity - Hole ID: KRC027 - Project: Killaloe - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: LSA #### Geometry - Grade: 0.24 - Grade Unit: g/t - Intercept: 19 m - From: 41 m - To: 60 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KRC027:41-60 - Mining Method: open\_pit #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A broad, shallow gold intercept from follow-up drilling at Killaloe, indicating continued mineralization, though at lower grades. - Positive factor: Broad gold mineralization - Positive factor: Shallow depth - Negative factor: Apparent Width Only Evidence · text > 19m at 0.24g/t Au from 41m \(KRC027\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 30 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-29) New Waverley Gold Project · gold #### Identity - Project: New Waverley Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: LSA #### Geometry - Grade: 56 - Grade Unit: g/t #### Classification - Sample Type: surface #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: An exceptionally high-grade rock-chip sample from the Trial Pit, indicating strong gold mineralization at surface. - Positive factor: Bonanza Intercept - Positive factor: Exceptionally high-grade surface sample - Positive factor: Visible gold observed Evidence · text > Trial Pit results included 56g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 31 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-30) New Waverley Gold Project · gold #### Identity - Project: New Waverley Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: LSA #### Geometry - Grade: 29.2 - Grade Unit: g/t #### Classification - Sample Type: surface #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade rock-chip sample from the Trial Pit, indicating strong gold mineralization at surface. - Positive factor: Bonanza Intercept - Positive factor: High-grade surface sample - Positive factor: Visible gold observed Evidence · text > 29.2g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 32 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-31) New Waverley Gold Project · gold #### Identity - Project: New Waverley Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: LSA #### Geometry - Grade: 20.9 - Grade Unit: g/t #### Classification - Sample Type: surface #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade rock-chip sample from the Trial Pit, indicating strong gold mineralization at surface. - Positive factor: Bonanza Intercept - Positive factor: High-grade surface sample - Positive factor: Visible gold observed Evidence · text > 20.9g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 33 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-32) New Waverley Gold Project · gold #### Identity - Project: New Waverley Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: LSA #### Geometry - Grade: 14.15 - Grade Unit: g/t #### Classification - Sample Type: surface #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade rock-chip sample from the Trial Pit, indicating strong gold mineralization at surface. - Positive factor: High-grade surface sample - Positive factor: Visible gold observed Evidence · text > 14.15g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 34 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-33) #### Identity - Ticker: LSA #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A successful share placement raising $2.16 million at $0.05 per share, providing capital for the company's operations. - Positive factor: Successful capital raise - Positive factor: Provides funding for exploration Evidence · text > On 28 August 2025, the Company announced a two-tranche share placement to raise $2.16 million before costs at an issue price of $0.05 per share. Tranche one, comprising 36,650,000 fully paid ordinary shares to sophisticated and professional investors, was completed on 3 September 2025. Following shareholder approval at the Company’s Annual General Meeting, tranche two was completed through the issue of a further 6,600,000 fully paid ordinary shares to Directors \(or their respective nominees\) and DevEx Resources Limited at the same issue price. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 35 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-34) #### Identity - Ticker: LSA #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A highly successful share placement raising $7.2 million at a higher share price, significantly strengthening the company's financial position for exploration activities. - Positive factor: Successful capital raise - Positive factor: Significant funding amount - Positive factor: Higher share price compared to previous raise Evidence · text > On 1 April 2026, the Company announced a two-tranche share placement to raise $7,200,000 \(before costs\) at an issue price of $0.12 per share. Tranche one comprising the issue of 60,000,000 fully paid ordinary shares to sophisticated and professional investors was completed on 9 April 2026. Following shareholder approval at the Company’s General Meeting on 28 May 2026, tranche two was completed through the issue of a further 2,233,333 fully paid ordinary shares to Directors \(or their respective nominees\) at the same issue price. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 36 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-35) #### Identity - Ticker: LSA #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Issuance of options to employees as part of an incentive plan, aiming to align their interests with the company's performance. - Positive factor: Employee incentive program - Positive factor: Aligns employee interests with shareholders Evidence · text > On 24 November 2025, 2,700,000 options \(exercise price of $0.088, expiring 24 November 2029\) were issued to Company employees, under the Company’s Employee Securities Incentive Plan. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 37 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-36) #### Identity - Ticker: LSA #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Issuance of incentive options to directors, aiming to align their interests with the company's performance and long-term value creation. - Positive factor: Director incentive program - Positive factor: Aligns director interests with shareholders Evidence · text > Also following the General Meeting, the Directors were granted 7,000,000 incentive options \(exercise price of $0.19, expiring 28 May 2029\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 38 [Link to this fact](https://atlas-staging.minestarters.com/news/lsa-annual-report-to-shareholders--0bb06a07-3127-46d5-a104-d29d672b08fa#fact-drill-facts-37) New Waverley Gold Project #### Identity - Project: New Waverley Gold Project - Ticker: LSA #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The acquisition of a 90% interest in the New Waverley Gold Project for a modest initial cash and share consideration is a highly strategic move, providing the company with a significant new exploration focus and potential for substantial growth. - Positive factor: Strategic acquisition of a high-potential gold project - Positive factor: Low initial cash outlay - Positive factor: Contingent payments tied to significant resource milestones Evidence · text > Lachlan Star acquired a 90% interest in the New Waverley Gold Project from private prospector David ‘Golly’ Pascoe in March 2026 for $150,000 in cash and 12.5 million fully-paid ordinary shares. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.