Western Gold Resources (WGR) Investor presentation summary

Project advancement and approvals

• Mobilisation and site establishment activities have commenced, with all key mining approvals secured for Stage 1, covering four open pits: Eagle, Emu, Gold King, and Golden Monarch.

• A binding toll milling agreement is in place, ensuring ore processing at a nearby facility and supporting a rapid transition to production.

• Letters of award have been signed for mobilisation, site establishment, and production bore drilling, with mining operations scheduled to commence shortly.

• SSH Mining Australia Pty Ltd has been appointed as the mining contractor, offering a deferred payment facility to support cash flow.

Financial metrics and funding

• Stage 1 targets a production of 42,800 oz gold from 686kt @ 2.1g/t Au, with an estimated undiscounted cash surplus of $56.1M at A$4,500/oz.

• Pre-mining and start-up capital requirements are estimated at $2.6–2.8M, with a payback period of 3 months and a total mine plan of 14 months.

• The project is fully funded to production, leveraging a low capital requirement and a rapid payback.

Resource base and growth potential

• The updated global Mineral Resource Estimate stands at 4.8Mt @ 1.8g/t Au for 277,000 oz, with 80% in Measured and Indicated categories.

• Stage 1 LOM extensional drilling and resource modelling are underway to expand mine life and resource confidence.

• Key prospects for LOM extension include Emu South, Eagle South, Eagle East/West, Joyners Find, and Gold King South, all within approved areas.

• Additional near-mine brownfields prospects identified for Stage 2 include Bottom Camp, Brilliant, Bronzewing, and Bowerbird, with infill and extensional drilling planned.

• Comedy King, located north of Golden Monarch, holds an inferred resource of 260kt @ 1.5g/t for 12koz, with mineralisation open along strike.