Lachlan Star Limited (ASX:LSA, Lachlan Star or the Company) is...

Lachlan Star Limited (ASX:LSA, Lachlan Star or the Company) is pleased advise that it has completed the
transaction under the Binding Term Sheet (Koojan BTS) with Liontown Resources Limited (Liontown)
(ASX:LTR) which gives Liontown the right to acquire a 51% interest in the Koojan JV Project (refer ASX
Announcement 27 January 2021). The parties have entered into the Koojan Joint Venture Agreement which
supersedes the Koojan BTS and governs Liontown's farm-in to the Koojan JV Project.

Liontown can acquire 51% equity in the Koojan Project by spending a total of $4 million on exploration
within 5 years with a minimum expenditure commitment of $500,000 before having the right to withdraw.
Upon Liontown earning 51% in the Koojan JV Project, the parties respective interests will be Liontown
(51%), Lachlan Star (24%), Wavetime Nominees (25%).