Western Gold Resources (WGR) investor relations material

Executive summary

• Strong gold price and a cash balance of $2.86 million as of 30 June 2026 position the company to advance the Gold Duke Project and Stage 1 mining operations.

• Six-month extension of the Toll Milling Agreement with Wiluna Mining Corporation secures processing capacity through December 2027.

• Expanded Scoping Study underway to optimize the Gold Duke Project, targeting results in the September 2026 quarter.

• Bowerbird Production Bore completed in April 2026, securing water supply for mining activities.

• Ongoing engagement with native title stakeholders and heritage consultation to support project development.

Financial highlights

• Cash on hand at quarter end was $2.86 million.

• $1.304 million spent on exploration and evaluation activities during the quarter, mainly for Gold Duke mine development and consultancy.

• Net cash used in operating activities for the quarter was $1.66 million.

• No capital raising occurred; 1,435,750 share options exercised at $0.08/share.

• 3,000,000 performance rights lapsed and 17,388,131 unlisted options expired unexercised.

Outlook and guidance

• Expanded Scoping Study aims to increase Life of Mine, production flexibility, and project economics, with results expected in the September 2026 quarter.

• Company anticipates reduced costs in the next quarter prior to mining commencement.

• Ongoing capital assessment and review for potential equity or loan-based funding to support operations.