Slide 1: Advancing a High-Grade Norseman Gold Discovery
ADVANCING A HIGH-GRADE NORSEMAN GOLD DISCOVERY Resources Rising Stars September 2026 ANDREW TYRRELL CEO ASX: LSA
Slide 2: Important Information
IMPORTANT INFORMATION Forward Looking Statements This Presentation contains forward-looking statements which are identified by words such as ‘proposed’, ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These sta
Slide 3: Executing Our Discovery Strategy
Executing Our Discovery Strategy Discovery • Growth • Scale • Value Creation Repeat High-grade District-Scale Proven Discovery Value Pathways Potential Opportunity Confirmed a significant high- Guided by a Large strategic Unlocking new and grade Norseman- predictive landholding with existing style g
Slide 4: Corporate Overview
Corporate Overview CAPITAL STRUCTURE LEADERSHIP TEAM Discovery • Development • Operations • Capital Markets Share Price (4/09/2026) $0.145 Andrew Tyrrell Tony Kiernan (AM) Shares on issue 371,556,528 Chief Executive Officer Non-Executive Chair Led the exploration team behind the Lead Independent Dir
Slide 5: Rapidly Advancing New Waverley
Rapidly Advancing New Waverley From acquisition to systematic evaluation of resource potential New Waverley Maiden diamond Follow-up 4,600m RC Results confirm high- Final RC assays pending Acquisition completed drilling completed drilling program grade discovery completed Define system scale New Boa
Slide 6: Multiple High-Grade Shoots - A framework for defining system scale and continuity
Multiple High-Grade Shoots - A framework for defining system scale and continuity >400m >400m Baker Boys 7.6m @ 2.65g/t Au from 18.5m, Trial Pit 13m @ 4g/t Au from 46m, 1.6m @ 9.83g/t Au from 44.5m, Waverley Pit incl. 0.7m @ 27.97g/t Au incl. 3m @ 15.2g/t Au incl. 0.6m @ 24.91g/t Au 50m Below Surfac
Slide 7: Consolidating a Strategic Position in the Norseman Gold District
Consolidating a Strategic Position in the Norseman Gold District • ENDOWED GOLD PROVINCE • Norseman District hosts >6Moz Au1 endowment, multiple high- grade gold operations and established mining infrastructure and workforce. • PROVEN GEOLOGICAL TERRANE • Woolyeenyer Formation host rocks provide a p
Slide 8: Hallmarks of a Significant System
Hallmarks of a Significant System • High-grade quartz reef system defined over 400m • Remains open along strike and at depth • Multiple, shallow, high-grade intercepts1 remain open: • 4m @ 13.8g/t Au incl. 1m @ 53g/t Au (53g*m) • 13m @ 4g/t Au incl. 3m @ 15.2g/t Au (52g*m) • 6.15m @ 8.6g/t Au incl.
Slide 9: Structural Understanding Drives Targeting
Structural Understanding Drives Targeting • High-grade discovery confirmed through systematic exploration and early diamond drilling • Structural modelling identified predictable north- westerly plunging high-grade shoots • This understanding now guides all drill targeting • Stacked and repeated sho
Slide 10: Waverley Lode
Waverley Lode • Multiple high-grade intercepts1: • 6.15m @ 8.6g/t Au incl. 2.9m @ 17.7g/t Au • 13m @ 4g/t Au incl. 3m @ 15.2g/t Au • 7m @ 6.61g/t Au incl. 2m @ 21g/t Au • 13m @ 3.14g/t Au incl. 3m @ 11.1g/t Au • High-grade shoots confirmed and open • Historic production ~4,500oz @ ~14.2g/t Au, with
Slide 11: Trial Lode
Trial Lode • Very shallow, high-grade gold in a stacked quartz reef system • Rock chips (with visible gold) from 6m below surface in Trial Pit Plunge Direction returned up to 56g/t, 29.2g/t, 20.9g/t Au1 • Recent diamond results1 include: • 4.6m @ 4.24g/t Au incl. 0.9m @ 21.5g/t Au • 7.6m @2.65g/t Au
Slide 12: Emerging Scale Potential at New Waverley
Emerging Scale Potential at New Waverley Analogous to established Norseman deposit settings New Waverley Long Section Royal Group Long Section – 1.8Moz Historical Gold Production 1. For LSA long section see ASX Announcement dated 4 February 2026, 17 March 2026 and 25 May 2026 ASX: LSA 2. Historical
Slide 13: Defining the Scale of the System
Defining the Scale of the System CONFIRMED MINERALISED TREND High-grade mineralisation defined over ~400m of strike between Waverley Pit, Trial Pit and Baker Boys EMERGING CORRIDOR SCALE Geochem, drilling and high-resolution magnetics support an interpreted target corridor extending beyond 800m REGI
Slide 14: Killaloe - The Next Step in District-Scale Growth
Killaloe - The Next Step in District-Scale Growth • Strategic position adjacent to New Waverley, expanding Lachlan Star’s footprint across a highly prospective Norseman gold corridor • Multiple broad, shallow gold-bearing zones identified1, providing several established starting points for follow-up
Slide 15: Proposed Schedule and Forward Plan
Proposed Schedule and Forward Plan Advancing New Waverley and Building the Broader Growth Pipeline Q3 ‘26 Q4 2026 Q1 2027 Sep Oct Nov Dec Jan Feb Mar Targeting & Geophysics Clearances New Waverley RC / DD Drilling (WA) Assays / Metallurgy Potential Maiden MRE Potential Maiden MRE Killaloe Gravity /
Slide 16: Positioned for Discovery-Driven Growth
Positioned for Discovery-Driven Growth Discovery • Growth • Scale • Value Creation HIGH-GRADE DISCOVERY WITH CLEAR SCALE POTENTIAL New Waverley has confirmed multiple high-grade shoots over ~400m of strike within an emerging corridor extending beyond 800m THE PATHWAY TO ACCRETIVE GROWTH A springboar
Slide 17: ASX: LSA
Positioned for Discovery-Driven Growth ASX: LSA