ASX RELEASE 13 JUNE 2023 MTD026: MULGA TANK DRILLING UPDATE HIGHLIGHTS • Drilling update hole MTD026 - currently at 1,353m depth with drilling still ongoing • Cumulative ~1,300m thickness of high MgO adcumulate dunite with near continuous disseminated nickel sulphide mineralisation and numerous remobilised sulphide veinlets cumulatively over >800m • Very similar geological observations to hole MTD023 ~1km to the northeast but overall “richer” visible sulphide mineralisation* • Hole MTD026 has been approved to receive co-funding as part of WMG’s $220,000 EIS grant • Drilling program continues to validate WMG's geological model and enhance the prospectivity of the Mulga Tank Ultramafic Complex *See cautionary note regards visible sulphides Western Mines Group Ltd (WMG or Company) (ASX:WMG) is pleased to update shareholders on the progress of diamond drill hole MTD026, at the flagship Mulga Tank Ni-Cu-PGE Project, on the Minigwal Greenstone Belt, in Western Australia’s Eastern Goldfields, ahead of a conference presentation this week. Hole MTD026 was designed to test the centre of the Mulga Tank Ultramafic Complex, approximately halfway between holes MTD023 (EIS1) and MTD020. Both of these holes showed extensive intersections of disseminated sulphide mineralisation, with hole MTD020 being the first significant occurrence during the Phase 1 drilling program (ASX, Disseminated Sulphides Seen Over 300m in Hole MTD020, 26 July 2022; MTD020 Assays Confirm Extensive Working Mineral System, 7 November 2022). The hole attempts to test the footprint of mineralisation across the body of the Complex. To date, MTD026 has intersected a cumulative ~1,300m thickness of high MgO adcumulate dunite ultramafic containing near continuous disseminated magmatic sulphides (trace to 2%) that in a number of places coalesced into interstitial blebs (3 to 5% sulphide) and even approaching net textured (5 to 10% sulphide). Multiple intersections of high-tenor remobilised massive nickel sulphide blebs and veining were also observed frequently down the length of the hole (confirmed by spot pXRF readings up to 65.6% Ni). The hole appears to further validate WMG’s lopolith (lenticular bowl) shaped geological model for the Mulga Tank Ultramafic Complex but mostly significantly it shows clear evidence for a very extensive magmatic nickel sulphide mineral system, with large volumes of mineralised ultramafic magma within the Mulga Tank Complex. This result has very positive implications for the prospectivity of the project and ongoing exploration targeting. Western Mines Group Ltd Level 3, 33 Ord Street West Perth WA 6005 ASX:WMG Telephone: +61 475 116 798 Email: contact@westernmines.com.au www.westernmines.com.au Shares on Issue: 59.7m Share Price: $0.73 Market Cap: $43.6m Cash: $4.03m (28/04/23) 1 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE Commenting on the Mulga Tank Project, WMG Managing Director Caedmon Marriott said: “Hole MTD026 is another deep hole into the Mulga Tank Complex and has been approved as our second EIS hole, using our $220,000 co-funded EIS grant. The hole shows some remarkable similarities to hole MTD023 (EIS1) but overall certainly seems to be richer in sulphide mineralisation. The hole further validates our geological model of the Complex and really demonstrates a significant working nickel sulphide mineral system with huge volumes of mineralised ultramafic magma and a large footprint over some ~3.2km.” MULGA TANK PHASE 2 DIAMOND DRILLING PROGRAM WMG is currently undertaking a six-hole diamond drilling program, totalling 4,000-5,000m, to test a number of follow-up targets based on the results of the Company’s first drilling program and ongoing exploration targeting work (ASX, Phase 2 Drilling has Commenced at Mulga Tank, 28 November 2022). The program includes two deep co-funded EIS holes to be drilled with the aid of WMG’s EIS award (ASX, WMG Wins $220,000 EIS Award to Drill Mulga Tank, 17 October 2022). Following the Company’s recent capital raise (ASX, Capital Raise to Expand Mulga Tank Drilling, 13 April 2023) and encouraging exploration results (ASX, MTD023 Assays Confirm Discovery of Significant Nickel Sulphide System, 5 April 2023) this program has been expanded to 14 holes with eight additional drill hole locations selected. Further drill holes will continue to be added to the program with ongoing targeting work as the Company systematically explores the Mulga Tank Complex with the capital available. HOLE MTD026 Hole MTD026 (planned hole MTP024) is the fifth hole of the Phase 2 program and is located approximately halfway between holes MTD023 (EIS1) and MTD020. Both of these holes showed extensive intersections of disseminated sulphide mineralisation, with hole MTD020 being the first significant occurrence during the Phase 1 drilling program (ASX, Disseminated Sulphides Seen Over 300m in Hole MTD020, 26 July 2022; MTD020 Assays Confirm Extensive Working Mineral System, 7 November 2022). The hole attempts to test the footprint of mineralisation across the body of the Complex. The Company has recently received approval for this hole to qualify as the second co-funded EIS deep hole to be drilled with the aid of WMG’s EIS award (ASX, WMG Wins $220,000 EIS Award to Drill Mulga Tank, 17 October 2022). To date the hole has reached a depth of 1,353m and confirms WMG’s geological modelling of a lopolith shape to the Mulga Tank intrusion. The hole has intersected ~1,300m of variably serpentinised and talc-carbonate altered high MgO adcumulate to extreme adcumulate dunite ultramafic, beneath 60.2m of sand cover (0-60.2m) (Appendix - Table 1). The dunite is divided by an approximately ~38m thick dolerite unit (749-787.3m) that most likely represents a later dyke/sill. This dolerite unit was seen at a nearly identical depth and thickness in hole MTD023. Disseminated magmatic sulphides (trace to 2%) were observed down the majority of the hole, starting from around 117m depth. In a number of places the disseminated sulphides coalesced into interstitial blebs (3 to 5% sulphide) between former olivine crystals and also approached net textured (5 to 10% sulphide) (Appendix Table 2). Corresponding pXRF readings of Ni, with elevated Cu and S, support the likelihood of being disseminated magmatic nickel sulphide mineralisation. ASX:WMG www.westernmines.com.au 2 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE MTD026 MTD026 NQ2 Core 2” Diameter NQ2 Core 2” Diameter MTD026 MTD026 NQ2 Core 2” Diameter NQ2 Core 2” Diameter Depth: 1205.4m Spot pXRF: 65.6% Ni, 1.1% Co, 0.5% Cu Figure 1: Photos showing examples of visible disseminated sulphides in hole MTD026 with disseminated sulphide forming interstitial blebs between olivine grains Note: core is NQ2 being 2 inches or 50mm diameter ASX:WMG www.westernmines.com.au 3 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE Cautionary statement on visible sulphides Whilst previous mineralogical work on a limited number of samples from holes MTD020 and MTD022 has confirmed disseminated pentlandite mineralisation similar mineralogical investigation has not yet been performed on hole MTD026. A number of spot pXRF readings on larger sulphide blebs has confirmed nickel presence and aids visual identification of pentlandite, however, this may not be valid for finer grained sulphides. Descriptions of visible sulphides should never be considered a proxy or substitute for laboratory analysis. Only subsequent laboratory geochemical assay can be used to determine the widths and grade of mineralisation. WMG will update shareholders when laboratory results become available. Multiple intersections of high-tenor remobilised massive nickel sulphide blebs and veining were also observed down the length of the hole (confirmed by spot pXRF readings up to 65.6% Ni, tentatively identified as hypogene millerite), in some of the shallowest and frequent examples of this phenomenon seen so far. This interesting observation, in a new previously undrilled area, supports the potential for multiple massive sulphide sources or deposits within the Complex (Perseverance-style basal massive sulphide) and not just limited to the Western Margin where previously encountered. Overall hole MTD026 shows a number of similarities with the first EIS deep hole MTD023 (~1km to the NW) but it appears to contain a much “richer” disseminated sulphide content down the hole (Figure 2). Lithological similarities were noted including encountering the dolerite unit at a remarkably similar the depth and thickness. This observation has led to a re-examination of Phase 1 hole MTD020 and it appears likely that this hole may have been finished within the dolerite unit, rather than the true footwall of the complex, with no shales or metasediments seen at the base of that hole. The feasibility of re-entering and extended that hole to test this idea is currently being investigated. DOWN HOLE pXRF The Company is methodically using a portable X-ray fluorescence (pXRF) device on site as part of its exploration and geochemical vectoring approach during the drilling program. Spot pXRF readings for hole MTD026 have been taken at 50cm intervals down the core. This data is processed using WMG’s in-house techniques and used to confirm the presence of working magmatic mineral processes and lithogeochemical vectors to aid further exploration and drill targeting. As at the date of this announcement 1,176m of core from MTD026 has been processed and this pXRF data is presented below. In general the pXRF data confirms the rock to be high MgO, adcumulate to extreme adcumulate dunite down the length of the hole. The mean average Ni value across at total of 2,512 readings to date is 0.31% Ni, with individual spot values of up to 65.6% Ni where sulphide mineralisation was observed. A number of factors such as S, Cu and Ni content suggest the potential for a significant working nickel sulphide mineral system in this area with the lower section of dunite of particular interest with broad sections of high MgO, S, Cu and Ni results. It is cautioned that spot pXRF readings may not be representative of the whole rock and only subsequent laboratory geochemical assay will determine widths and grade of mineralisation. ASX:WMG www.westernmines.com.au 4 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE Cautionary statement on pXRF pXRF data is used as an exploration tool and a guide only and should never be considered a proxy or substitute for laboratory analysis. The measurements recorded are for a single spot location and may not be representative of the whole rock. Only subsequent laboratory geochemical assay can be used to determine the widths and grade of mineralisation. WMG will update shareholders when laboratory results become available. VALIDATION OF THE GEOLOGICAL MODEL WMG’s geological model of the Mulga Tank Ultramafic Complex interprets the main body as being a large lopolith (lenticular bowl) shaped intrusion/sub-volcanic sill. This is similar to the geological formation of the Perseverance and Mt Keith Ultramafic Complexes; but whereas those lenticular bodies have undergone significant deformation in their relatively highly attenuated greenstone belts the Mulga Tank Ultramafic Complex is currently thought to be much less deformed and sitting “right way up”. Hole MTD026 appears to validate this model with a maximum depth in excess of 1,350m in the centre of the complex demonstrated by the drilling. Numerous indicators appear to support the conclusion of a “right way up” relatively undeformed body (Figure 2). Figure 2: Cross Section through the centre of the Mulga Tank Ultramafic Complex ASX:WMG www.westernmines.com.au 5 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE Figure 3: Processed pXRF data for hole MTD026 ASX:WMG www.westernmines.com.au 6 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE COMPLETION OF THE HOLE AND DHEM Drilling of hole MTD026 will continue to test the basal margin of the intrusion in this area and until approximately 60m of footwall has been intersect, in order to help characterise the geological setting of the Complex. The rig will then move on to drill MTP026 located on the eastern side of the Complex in an area that has had no previous drilling. The hole will test a coincident gravity and magnetic high, and minor MLEM anomaly, as well as for the presence of disseminated mineralisation in this area. Upon completion a DHEM crew will mobilise to site to survey holes MTD025 and MTD026, and possibly look to re-survey MTD023, looking for offhole conductor anomalies that could be permissive for basal massive sulphide accumulations. Figure 4: WMG’s Diamond Drill Holes Showing Disseminated Sulphide Mineralisation ASX:WMG www.westernmines.com.au 7 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE The Company looks forward to updating shareholders on the continuing progress as this exciting drilling program develops. For further information please contact: Dr Caedmon Marriott Managing Director Tel: +61 475 116 798 Email: contact@westernmines.com.au This announcement has been authorised for release to the ASX by Dr Caedmon Marriott, Managing Director ASX:WMG www.westernmines.com.au 8 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE APPENDIX HoleID From (m) To (m) Primary Lithology MTD026 0.0 60.2 Alteration Comments Sand cover Rock-rolled cover MTD026 60.2 101 Weathered ultramafic ox, tc, mg Talc-magnesite upper saprolite cap + partially oxidised sulphides around serpentinite veinlets MTD026 101 116.5 Weathered dunite ox Partially weathered, no igneous textures, dotty and veined magnetite throughout MTD026 116.5 117 Ex-Adcumulate Dunite srp Black serpentinite dunite, 30mm serpentinite veinlet with NiS remobilised vein material (pXRF 116.8m) MTD026 117 140 Dunite MTD026 140 143 Ex-Adcumulate Dunite Dark green dunite, high-Cr, barely visible cumulate texture, trace-1% disseminated sulphides srp Serpentinised black dunite with 1% disseminated sulphides MTD026 143 143.3 Fault Zone mg 300mm core loss at fault, clay gouge and pure magnesite veinlets preceding MTD026 143.3 153.1 Ex-Adcumulate Dunite cl 5-10% disseminated to blebby NiS in extreme adcumulate dunite with intense chlorite and Ni-Cu-S veining (pXRF 148.7m, 151.3m) MTD026 153.1 161.3 Adcumulate Dunite srp Finer grained adcumulate with 1-3% disseminated sulphides MTD026 161.3 162.2 Fault Zone MTD026 162.2 169.6 Adcumulate Dunite MTD026 169.6 175.2 Adcumulate Dunite tc, mg Bright green talc-ankerite altered dunite, no igneous textures, talc veining and magnetite MTD026 175.2 179 Dunite tc, mg, cb Light green talc-magnesite/carbonate altered dunite, trace sulphides in barely visible cumulate texture MTD026 179 181 Ex-Adcumulate Dunite MTD026 181 189 Dunite tc, mg MTD026 189 190 Ex-Adcumulate Dunite srp 5-10% blebby to net textured NiS (pXRF 189.6m) Bright green adcumulate dunite with trace-1% sulphides, 5mm veinlet with remobilised Ni-Cu-S (pXRF 164.9m) Extreme adcumulate texture, 2-3% disseminated to blebby sulphides Light green talc altered dunite with trace sulphides MTD026 190 200 Mesocumulate Dunite tc, cb Talc-carbonate altered dunite with slightly less packed relict crystals, increase in silicate to meso-cumulate texture MTD026 200 214 Ex-Adcumulate Dunite srp Black serpentinite to lizardite with 3-5% disseminated NiS with elevated Cu MTD026 214 224 Mesocumulate Dunite tc, cb Talc-carbonate altered dunite with trace S in mesocumulus srp Black serpentinite dunite, 400mm serpentinite vein with massive NiS remobilised material (pXRF 224.45m) MTD026 224 224.5 Ex-Adcumulate Dunite MTD026 224.5 235 Ex-Adcumulate Dunite MTD026 235 250 Mesocumulate Dunite Extreme adcumulate texture, 3-5% disseminated to blebby NiS tc, cb Talc-carbonate altered dunite with trace S in mesocumulus MTD026 250 324 Mesocumulate Dunite tc, srp Talc altered dunite with 2-3% disseminated NiS with blebby zones within serpentinised meso-cumulate (or no cumulate texture) MTD026 324 366 Dunite tc, cb Talc-carbonate altered dunite with trace-1% disseminated sulphides, intermittent talc-carbonate altered zones MTD026 366 417.5 Ex-Adcumulate Dunite srp Black serpentinite dunite with 3-5% disseminated to blebby sulphides, variable serpentinisation and remobilised NiS in talc-chlorite veining MTD026 417.5 435.1 Dunite tc, cb Talc-carbonate, talc-chlorite altered dunite, no igneous textures, variably structurally controlled alteration MTD026 435.1 480.5 Dunite tc, cb Talc-carbonate altered dunite with trace-1% disseminated sulphides, intermittent talc-carbonate altered zones MTD026 480.5 500 Ex-Adcumulate Dunite srp Black magnetite serpentinite with 3-5% disseminated to blebby NiS MTD026 500 553.4 Adcumulate Dunite srp Variably serpentinised dunite, active +50m with disseminated to blebby sulphides (trace-10% blebs) and frequent mineralised veins (pXRF 528.2m, 543.8m) MTD026 553.4 655.4 Dunite srp, cb Variably serpentinised and carbonate altered, thick carbonate veining with disseminated to blebby sulphides concentrated around less frequent but still prominent mineralised veining MTD026 655.4 657.6 Fault Zone Fault zone with NiS on proximal fracture planes Interchanging black serpentinite to talc-carb alteration, with fluctuating zones of disseminated to blebby (up to 10%) NiS and mineralised veining (pXRF 683.8m, 684.4m) MTD026 657.6 700 Ex-Adcumulate Dunite srp MTD026 700 730 Dunite tc, cb Talc alteration in carbonate flooded dunite, clay zones and fracturing srp Black serpentinite with 3-5% disseminated NiS with frequent intense chlorite veining cb Clay zone precedes carbonate flooding at contact below dyke 730 749 Ex-Adcumulate Dunite MTD026 749 787.3 Dolerite MTD026 787.3 793.6 Dunite MTD026 ASX:WMG Fine grained dolerite mafic dyke www.westernmines.com.au 9 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE HoleID From (m) To (m) Primary Lithology Alteration Comments MTD026 793.6 814.6 Ex-Adcumulate Dunite srp Range in disseminated sulphides (1-5%), visibly constrained perhaps to black serpentinite, section cut by talc-carb veins MTD026 814.6 895.6 Adcumulate Dunite MTD026 895.6 1055.7 Dunite srp, cl Variably chloritised dunite, potential fault zones with intense fracturing, fluctuating zones of disseminated to blebby (3-5%) NiS (pXRF thin mineralised veinlets) MTD026 1055.7 1201.7 Ex-Adcumulate Dunite tc, cl Intense talc-chlorite veining with well preserved adcumulate dunite (fresh olivines), bimodal sulphides in blebby zones (5%), generally 1-3% disseminated MTD026 1201.7 1207.8 Ex-Adcumulate Dunite Large “splodges” of squeezed NiS (pXRF 1201.8m, 1205.4m) Less silicified, fresh olivines, causes abrasive ground, porous, no sulphides visible Adcumulate texture highlighted from alteration overprint, fresh olivines in zones, generally 1-3% disseminated sulphides, occasional remobilised NiS in veinlets MTD026 1207.8 1216.4 Adcumulate Dunite MTD026 1216.4 1217.4 Fault Zone cb Core loss from broken, faulted ground, carbonate flooding above and below contact MTD026 1217.4 1230 Ex-Adcumulate Dunite tc, cb Variable talc-carb alteration, 1-3% disseminated sulphides within the adcumulate Table 1: Logging table summary for hole MTD026 From (m) To (m) Interval (m) Lithology Sulphide Texture Sulphide Abundance (%) Sulphides Observed MTD026 116.5 117 0.5 Ex-Adcumulate Dunite Bleb-Veinlet 10-20% Pentlandite-ChalcopyritePyrrhotite MTD026 117 143 26 Dunite Disseminated tr-1% Pentlandite 5-10% Pentlandite HoleID MTD026 143.3 153.1 9.8 Ex-Adcumulate Dunite Disseminated-BlebbyVeinlet MTD026 153.1 161.3 8.2 Adcumulate Dunite Disseminated 1-3% Pentlandite MTD026 162.2 169.6 7.4 Adcumulate Dunite Disseminated tr-1% Pentlandite MTD026 175.2 179 3.8 Dunite Disseminated trace Pentlandite MTD026 179 181 2 Ex-Adcumulate Dunite Disseminated-Blebby 2-3% Pentlandite MTD026 181 189 8 Dunite Disseminated trace Pentlandite 5-10% Pentlandite MTD026 189 190 1 Ex-Adcumulate Dunite Disseminated-Net textured MTD026 200 214 14 Ex-Adcumulate Dunite Disseminated 3-5% Pentlandite MTD026 214 224 10 Mesocumulate Dunite Disseminated trace Pentlandite MTD026 224 224.5 0.5 Ex-Adcumulate Dunite Veinlet 10-30% Pentlandite-ChalcopyritePyrrhotite MTD026 224.5 235 10.5 Ex-Adcumulate Dunite Disseminated-Blebby 3-5% Pentlandite MTD026 235 264.5 29.5 Mesocumulate Dunite Disseminated trace Pentlandite MTD026 264.5 276 11.5 Mesocumulate Dunite Disseminated trace Pentlandite MTD026 276 277 1 Mesocumulate Dunite Veinlet 10-15% Pentlandite MTD026 277 314.4 37.4 Mesocumulate Dunite Disseminated tr-3% Pentlandite MTD026 318.1 319.6 1.5 Mesocumulate Dunite Disseminated 1-2% Pentlandite MTD026 323.5 326.1 2.6 Dunite Disseminated 2-3% Pentlandite MTD026 348.4 366.3 17.9 Dunite Disseminated tr-2% Pentlandite MTD026 366.3 368.7 2.4 Ex-Adcumulate Dunite Disseminated-Blebby 3-5% Pentlandite MTD026 369.2 378.3 9.1 Ex-Adcumulate Dunite Disseminated 1-3% Pentlandite MTD026 378.3 378.8 0.5 Ex-Adcumulate Dunite Veinlet 20-30% Pentlandite MTD026 378.8 402.7 23.9 Ex-Adcumulate Dunite Disseminated 2-4% Pentlandite MTD026 405.6 417.5 11.9 Ex-Adcumulate Dunite Disseminated-Blebby 3-5% Pentlandite MTD026 435.1 493.6 58.5 Dunite Disseminated tr-3% Pentlandite MTD026 493.6 493.75 0.15 Ex-Adcumulate Dunite Veinlet 10-20% Pentlandite MTD026 493.75 498.8 5.05 Ex-Adcumulate Dunite Disseminated 2-3% Pentlandite MTD026 498.8 499.1 0.3 Ex-Adcumulate Dunite Veinlet 10-20% Pentlandite MTD026 499.1 545 45.9 Adcumulate Dunite Disseminated 1-5% Pentlandite ASX:WMG www.westernmines.com.au 10 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE From (m) To (m) Interval (m) Lithology Sulphide Texture Sulphide Abundance (%) Sulphides Observed MTD026 553.4 567.2 13.8 Dunite MTD026 567.2 567.7 0.5 Dunite Disseminated tr-1% Pentlandite Veinlet 5-10% MTD026 567.7 568 0.3 Dunite Pentlandite Disseminated 2-3% Pentlandite MTD026 568 569 1 MTD026 569 574.6 5.6 Dunite Veinlet 5-10% Pentlandite Dunite Disseminated trace Pentlandite MTD026 575.4 581.5 MTD026 586.4 630.6 6.1 Dunite Disseminated 1-3% Pentlandite 44.2 Dunite Disseminated tr-3% MTD026 633 640.5 7.5 Pentlandite Dunite Disseminated trace Pentlandite MTD026 642.2 655.4 MTD026 657.9 674 13.2 Dunite Disseminated tr-2% Pentlandite 16.1 Ex-Adcumulate Dunite Disseminated 3-5% Pentlandite MTD026 679.4 MTD026 679.7 679.7 0.3 Ex-Adcumulate Dunite Veinlet 10-15% Pentlandite 683.3 3.6 Ex-Adcumulate Dunite Disseminated 3-5% MTD026 687.4 Pentlandite 692 4.6 Ex-Adcumulate Dunite Disseminated 1-3% Pentlandite MTD026 694 MTD026 731 700 6 Ex-Adcumulate Dunite Disseminated tr-2% Pentlandite 733.8 2.8 Ex-Adcumulate Dunite Disseminated 3-5% Pentlandite MTD026 735.2 MTD026 793.5 739.5 4.3 Ex-Adcumulate Dunite Disseminated 3-5% Pentlandite 799 5.5 Ex-Adcumulate Dunite Disseminated 3-5% MTD026 Pentlandite 811.6 837.6 26 Adcumulate Dunite Disseminated 2-4% Pentlandite MTD026 843.9 856 12.1 Adcumulate Dunite Disseminated 1-3% Pentlandite MTD026 856 857 1 Adcumulate Dunite Veinlet 10-15% Pentlandite MTD026 857 870 23 Adcumulate Dunite Disseminated 1-3% Pentlandite MTD026 870 871 1 Adcumulate Dunite Veinlet 10-15% Pentlandite MTD026 871 909 38 Dunite Disseminated 1-5% Pentlandite MTD026 930.6 964 33.4 Dunite Disseminated 2-5% Pentlandite MTD026 972.4 1031.3 58.9 Dunite Disseminated-Blebby 2-5% Pentlandite MTD026 1031.3 1031.9 0.6 Dunite Veinlet 5-10% Pentlandite MTD026 1031.9 1033.3 1.4 Dunite Disseminated 1-2% Pentlandite MTD026 1033.3 1033.9 0.6 Dunite Veinlet 5-10% Pentlandite MTD026 1033.9 1055.7 21.8 Dunite Disseminated 2-4% Pentlandite MTD026 1075.7 1097 21.3 Ex-Adcumulate Dunite Disseminated 1-2% Pentlandite MTD026 1108 1124 16 Ex-Adcumulate Dunite Disseminated 3-5% Pentlandite MTD026 1155.4 1162.6 7.2 Ex-Adcumulate Dunite Disseminated 1-3% Pentlandite MTD026 1165.4 1190.8 25.4 Ex-Adcumulate Dunite Disseminated 2-4% Pentlandite MTD026 1201.7 1201.8 0.1 Ex-Adcumulate Dunite Veinlet 15-20% Pentlandite MTD026 1201.8 1205.3 3.5 Ex-Adcumulate Dunite Disseminated 1-3% Pentlandite MTD026 1205.3 1205.4 0.1 Ex-Adcumulate Dunite Veinlet 15-25% Pentlandite HoleID Table 2: Visual sulphide table for hole MTD026 Depth Point (m) Beam Time (s) Ni (%) Co (ppm) Cu (ppm) S (%) MTD026 528.2 3 x 20 2.17 1595 1771 7.24 MTD026 543.2 3 x 20 6.06 1875 3767 6.10 MTD026 683.8 3 x 20 4.17 1984 3829 9.87 MTD026 684.4 3 x 20 2.45 1556 29128 5.06 MTD026 1201.8 3 x 20 61.4 11179 21279 NR MTD026 1205.4 3 x 20 65.6 11198 4798 NR HoleID Table 3: Significant spot pXRF results 250m-1250m hole MTD026 HoleID MTD026 Easting (MGA51) Northing (MGA51) Total Depth (m) Azimuth Dip 520897 6688842 1353 to date 125 -70 Table 4: Collar details for hole MTD026 ASX:WMG www.westernmines.com.au 11 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE ABOUT WMG Western Mines Group Ltd Western Mines Group Ltd (ASX:WMG) is a mineral exploration company driven by the goal ACN 640 738 834 Level 3, 33 Ord Street West Perth WA 6005 to create significant investment returns for our shareholders through exploration and discovery of high-value gold and nickel sulphide deposits across a portfolio of highlyprospective projects located on major mineral belts of Western Australia. Our flagship project and current primary focus is the Mulga Tank Ni-Cu-PGE Project, a Board Rex Turkington Non-Executive Chairman Dr Caedmon Marriott Managing Director major ultramafic complex found on the under-explored Minigwal Greenstone Belt. Exploration results show significant evidence for an extensive working nickel sulphide mineral system and is considered highly prospective for Ni-Cu-PGE mineralisation. The Company’s primary gold project is Jasper Hill, where WMG has strategically Francesco Cannavo Non-Executive Director consolidated a 3km mineralised gold trend with walk-up drill targets. WMG has a diversified Dr Benjamin Grguric Technical Director Leonora in the heart of the WA Goldfields; Youanmi (Au), Pavarotti (Ni-Cu-PGE), Rock of Capital Structure Shares: 59.7m Options: 21.4m Share Price: $0.73 Market Cap: $43.6m Cash (28/04/23): $4.03m Follow us portfolio of other projects including Melita (Au, Cu-Pb-Zn), midway between Kookynie and Ages (Au), Broken Hill Bore (Au) and Pinyalling (Au, Cu, Li). COMPETENT PERSONS STATEMENT The information in this announcement that relates to Exploration Results and other technical information complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Dr Caedmon Marriott, Managing Director of Western Mines Group Ltd. Caedmon is a Member of the Australian Institute of @westernmines Geoscientists, a Member of the Society of Economic Geologists and a Member of the westernmines Australasian Institute of Mining and Metallurgy. He has sufficient experience that is relevant Western Mines Group to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Caedmon consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. DISCLAIMER Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which WMG operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside WMG’s control. WMG does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of WMG, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement. ASX:WMG www.westernmines.com.au 12 ASX RELEASE | MTD026: MULGA TANK DRILLING UPDATE MULGA TANK PROJECT JORC CODE, 2012 EDITION - TABLE 1 SECTION 1: SAMPLING TECHNIQUES AND DATA Crite