AuStar Gold Limited provided the following update to shareholders regarding recent regional exploration activity within the Company's extensive exploration licenses, surrounding its flagship Morning Star gold mining operation at Woods Point, Victoria. This region of Victoria, the Walhalla-Woods Point goldfields, has produced more than 6Moz Au. Within this belt, the company holds a tenure position of approximately 670km2 with historical production of at least 1.7Moz Au. The Morning Star mine historically produced ~857koz gold at an average grade of ~26.5g/t Au. High-Grading of Key Exploration Prospects: Following on from the August 2020 release, the evolving regional exploration has commenced in early December 2020 after approvals for reconnaissance exploration (figure 2) and increasing in the geology team. Key objectives have been to commence a regional geochemistry soil program of 1500 samples to identify anomalous zones for potential mineralisation and identification of undercover dyke systems on a regional structural belt scale and prospect scale. Prospect scale exploration will also involve surface and underground mapping of the historical workings, rock chip sampling along with 3D modelling of the prospects. In addition, workplans and low impact exploration documents are currently being prepared for access to prospects and drill planning. Drilling is scheduled to commence in the second half of 2021. The geology team will continue to review records of geological exploration and mining history to better evaluate and assess prospects within AUL licences.