East Star Resources Plc has entered into a binding earn-in and joint venture agreement with Endeavour Exploration, a subsidiary of global gold major Endeavour Mining, securing more than $25 million in staged investment for gold exploration across Kazakhstan.
Under the newly established JV structure, Endeavour can earn up to an 80% stake in a dedicated joint venture company through phased funding. The first stage requires a $5 million investment within two years to secure 51%, followed by a further $20 million over three years to reach 70%. Completion of a NI 43-101 compliant pre-feasibility study would grant Endeavour the final 10% interest.
East Star will retain a 20% stake upon full earn-in and will manage the joint venture during early operations, receiving compensation for its role. The agreement also includes milestone payments tied to maiden resource and PFS outcomes, to be verified by an independent qualified person.
CEO Alex Walker described the deal as a transformative step for the company, highlighting Endeavour’s strong discovery and project-development track record, including five mines built in the past decade.
A webcast for investors will be held on 18 November 2025 to discuss the agreement, with registration available through the Investor Meet Company platform.
