Lodestar Minerals Limited has entered into a binding Heads of Agreement granting the company the opportunity to acquire a significant interest in an exploration project in Chile’s Coastal IOCG Belt. The project, known as Nicanor, features a porphyry-style copper–gold system overprinting earlier IOCG mineralisation. Rock chip sampling from the area has returned robust assay values including up to 7.5% copper, 7.2 grams per tonne gold, 68% iron, and 791 parts per million cobalt, which bolsters confidence in the potential for high-grade deposits. Under the three-stage earn‐in agreement, Lodestar is to spend a minimum of USD 200,000 over the next 12 months to earn an initial 25% interest. Following this phase, an additional expenditure of USD 400,000 over 18 months is required to increase the stake to 51%, with further study and drilling aimed at defining a maiden resource. Finally, an optional stage will allow the company to earn up to a 75% interest by either delivering a scoping study or investing an additional USD 750,000. If the project owner decides not to sell its remaining interest, the parties will enter into a joint venture structure. Technical work completed to date includes detailed geophysics, geological mapping, and rock sampling that have identified three high-priority targets ready for drilling. The extensive helicopter-borne aeromagnetic survey has revealed several large magnetic anomalies that may indicate deep IOCG-style mineralisation, while past mining history in the Carrizal Alto District underscores the region’s potential for economically viable copper and high-grade direct shipping ore. The project’s location along the Atacama Fault System, in a Tier-1 mining jurisdiction, further supports the strategic merit of this exploration initiative. Analysts with a bullish outlook note that the discovery of multiple metal anomalies, strong assay results, and the integration with Lodestar’s existing projects in Chile provide compelling near-term opportunities for drilling and potential resource expansion. The detailed earn-in framework also demonstrates a clear commitment to de-risking and advancing exploration. Conversely, some bearish sentiment arises from the inherent risks associated with early-stage exploration, including reliance on historic estimates that are non-compliant with current reporting standards and the need for further drilling to confirm the mineralisation extents. As such, while the technical indicators are promising, caution is advised until additional drilling and resource definition work can be completed.