Announcement PDF ASX RELEASE 29 JANUARY 2024 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK HIGHLIGHTS • Exploration has recommenced at the Mulga Tank Ni-Co-Cu-PGE Project with Q1 2024 drilling programs designed to involve a combination of RC and diamond drilling • WMG exploration team and drilling contractors mobilised to site last week - clearing drill pads and drilling pre-collars through the sand cover • Second phase of RC drilling will predominantly target infill around a higher grade core area, followed by the commencement of deep diamond hole EIS3 and further extensional RC drilling • Phasing of drilling is designed to progressively de-risk, improve confidence and aid resource evaluation of the newly-discovered nickel sulphide system • Preliminary modelling highlights zones of mineralisation defined by the Company’s initial drilling programs to date - aiding the follow-up drill targeting • WMG continues to de-risk a potentially globally significant, large-scale, open-pitable nickel sulphide deposit at Mulga Tank Western Mines Group Ltd (WMG or Company) (ASX:WMG) is pleased to update shareholders on the commencement of our 2024 exploration programs at the Mulga Tank Ni-Cu-Co-PGE Project, on the Minigwal Greenstone Belt, in Western Australia’s Eastern Goldfields. Drilling programs planned for Q1 2024 will involve a combination of both further reverse circulation (RC) and diamond drilling. Preliminary modelling of the initial RC results has identified a significant mineralised zone in the main body of the Mulga Tank Complex, that includes a higher grade core. Over 35 further RC holes have been designed to extend and delineate this mineralised zone. An initial 17 holes are planned to be drilled during February predominantly focused on infilling the higher grade area. The WMG exploration team and drilling contractor mobilised to site on 19 January and have just about finished clearing pads and drilling pre-collars through the sand cover for this first program. The initial RC holes will be followed by the commencement of a further deep diamond hole EIS3 and then a second phase of RC drilling targeting extensions of the mineralised zone. The phasing of the drilling aims to progressively de-risk and continue to evaluate the size of this newly-discovered nickel sulphide system. Further modelling and drill targeting work remains ongoing, with additional targets and drill holes anticipated to be announced. The Company remains on track to announce an initial JORC Exploration Target for the shallow mineralised zone within the main dunite body of the Mulga Tank Ultramafic Complex and looks forward to update shareholders in due course. 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: 67.57m Share Price: $0.19 Market Cap: $12.84m Cash: $3.07m (31/10/23) 1 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK Commenting on the Company’s exploration plans, WMG Managing Director Dr Caedmon Marriott said: “We’ve undertaken a lot of modelling and targeting work over the New Year period and have some exciting exploration planned at Mulga Tank for the first quarter of 2024. An initial 17 hole RC program will predominantly target infill drilling around a higher grade core in the central-eastern area of the previous RC drilling. This will be followed by deep diamond hole EIS3 and then further RC drilling targeting extensions of the shallow mineralisation. The phasing of the drilling should ensure steady news flow from the project over the next several months. The team has been back on site for the last 10 days. They have completed clearing the drill pads and have drilled the majority of the ~60m pre-collars for the first RC program - this RC drilling should start in the next day or so.” MULGA TANK Q1 2024 DRILLING PROGRAMS Exploration results from the Company’s various drilling programs at the Mulga Tank Project over the last 12 months have demonstrated significant nickel sulphide mineralisation and an extensive nickel sulphide mineral system within the Mulga Tank Ultramafic Complex (ASX, MTD023 Assays Confirm Discovery of Significant Nickel Sulphide System, 5 April 2023; MTD026 Assays - 840m of Nickel Sulphide Mineralisation, 30 August 2023; MTD027 Expands Mineralisation 4km Across Mulga Tank, 28 August 2023). The Company completed a 22 hole RC drilling program in September-October 2023 designed to systematically test the lateral continuity of the shallow, uppermost zone of disseminated nickel sulphide mineralisation observed within the main body of the Mulga Tank Ultramafic Complex (ASX, Completion of 7000m RC Drilling Program at Mulga Tank, 7 November 2023). These holes were spaced at approximately 500m x 300m and covered a 2,500m x 1,000m area across the centre of the Complex; each hole was designed to a target depth of ~300m. Results from this initial RC program have steadily been received over the last two months (ASX, First RC Assays Show Broad Zones of Mineralisation, 14 November 2023; MTRC009 Assays Confirm 367m of Nickel Mineralisation, 30 November 2023; MTRC015 Assays Reveal Multiple Intersections Over 1% Ni, 4 December 2023; MTRC018 Assays Confirm Massive Sulphide 1.8% Ni, 4.9% Cu, 6 December 2023; First RC Without Mineralisation Found at Mulga Tank, 21 December 2023; More Intersections over 1% Ni at Mulga Tank, 11 January 2024). Based on the results from this first RC program, implicit modelling of the RC assay results, and recent MobileMT results, the Company has planned a series of drilling programs for the first quarter of 2024 involving both further RC and diamond drilling. SUMMARY OF RC ASSAY RESULTS Geochemical assay results have now been received for 20 of the 22 initial RC holes. Of these 20 holes, 19 holes demonstrate significant evidence for “live” magmatic sulphide chemical processes and show a number of broad zones of highly anomalous Cu and PGE’s in combination with elevated S, and a S:Ni ratio greater than 0.5. ASX:WMG www.westernmines.com.au 2 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK These anomalous zones provide strong evidence for nickel sulphide mineralisation and were generally defined by a combination of the various geochemical indicators and cut-off grades (Ni >0.16%, Cu >20ppm, Pt+Pd >20ppb, S >0.1% and S:Ni >0.5), with only minimal inclusion of unmineralised material below mineable width. A summary of the RC assay results announced to date are listed below: Figure 1: Assay results for shallow nickel sulphide mineralisation in the Mulga Tank Ultramafic Complex MTRC001 Cumulative 253m at 0.24% Ni, 128ppm Co, 76ppm Cu, 27ppb Pt+Pd with S:Ni 1.4 MTRC002 Cumulative 111m at 0.31% Ni, 136ppm Co, 69ppm Cu, 37ppb Pt+Pd with S:Ni 0.7 MTRC003 Cumulative 175m at 0.26% Ni, 114ppm Co, 18ppm Cu, 19ppb Pt+Pd with S:Ni 0.6 MTRC004 No significant mineralisation MTRC005 Cumulative 164m at 0.26% Ni, 134ppm Co, 114ppm Cu, 20ppb Pt+Pd with S:Ni 1.3* MTRC006 Cumulative 159m at 0.29% Ni, 125ppm Co, 29ppm Cu, 12ppb Pt+Pd with S:Ni 0.6* MTRC007 Cumulative 168m at 0.29% Ni, 125ppm Co, 29ppm Cu, 12ppb Pt+Pd with S:Ni 1.0* ASX:WMG www.westernmines.com.au 3 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK MTRC008 Cumulative 91m at 0.24% Ni, 122ppm Co, 53ppm Cu, 15ppb Pt+Pd with S:Ni 1.1 MTRC009 Cumulative 367m at 0.26% Ni, 133ppm Co, 74ppm Cu, 25ppb Pt+Pd with S:Ni 1.3 MTRC010 Cumulative 106m at 0.25% Ni, 119ppm Co, 25ppm Cu, 15ppb Pt+Pd with S:Ni 1.0 MTRC011 Cumulative 110m at 0.24% Ni, 128ppm Co, 75ppm Cu, 26ppb Pt+Pd with S:Ni 1.9 MTRC012 Cumulative 190m at 0.22% Ni, 124ppm Co, 68ppm Cu, 21ppb Pt+Pd with S:Ni 1.8 MTRC013 Cumulative 149m at 0.29% Ni, 131ppm Co, 42ppm Cu, 30ppb Pt+Pd with S:Ni 1.0 MTRC014 Cumulative 158m at 0.26% Ni, 121ppm Co, 37ppm Cu, 20ppb Pt+Pd with S:Ni 0.5 MTRC015 Cumulative 129m at 0.34% Ni, 156ppm Co, 163ppm Cu, 25ppb Pt+Pd with S:Ni 1.3 MTRC016 200m at 0.30% Ni, 139ppm Co, 92ppm Cu, 25ppb Pt+Pd 103m S:Ni 1.2 MTRC017 Cumulative 183m at 0.26% Ni, 132ppm Co, 165ppm Cu, 16ppb Pt+Pd with S:Ni 1.6 MTRC018 Cumulative 209m at 0.28% Ni, 129ppm Co, 381ppm Cu, 18ppb Pt+Pd with S:Ni 1.3* MTRC019 MTRC020 186m at 0.28% Ni, 135ppm Co, 78ppm Cu, 22ppb Pt+Pd 90m S:Ni 1.2 Cumulative 220m at 0.28% Ni, 132ppm Co, 112ppm Cu, 18ppb Pt+Pd with S:Ni 1.1* MTRC021 Full holes results not yet received MTRC022 Full holes results not yet received * Ending in mineralisation PRELIMINARY MODELLING The Company has undertaken preliminary modelling of the results to aid follow-up drill targeting and as a first step to generating a JORC Exploration Target. Using the implicit grade modelling function of an industry standard 3D geological modelling software package the Company has completed a first-pass review of all drill hole assay results for the Mulga Tank Project (see cautionary note regarding implicit modelling). This modelling has defined a significant mineralised target zone within the main dunite body of the Mulga Tank Ultramafic Complex. Various parameters, including Ni, S, Cu and PGE’s, were investigated and analysed to determine the extent of mineralisation and define models of the mineralised zones as drill targets. Three outcomes from the modelling work are shown in the figures below, with mineralised zones determined by coincident zones of higher S and S:Ni above certain Ni cut-off levels: W E Outer shell of dunite body ASX:WMG Figure 2: Implicit modelling of results using >0.15% Ni and >0.1% S cut-offs Outline of main Mulga Tank dunite body, viewed from south looking north www.westernmines.com.au 4 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK A shallow mineralised zone was modelled based on a nickel cut-off of >0.15% Ni, coincident with a sulphur cutoff >0.1% S (Figure 2). The modelling was limited to a depth range of 380m RL to 100m RL (i.e. starting ~100m below surface, eliminating any oxidised material, to approximately the depth of current RC drilling). W E Outer shell of dunite body Figure 3: Implicit modelling of results using >0.20% Ni and >0.5 S:Ni cut-offs Outline of main Mulga Tank dunite body, viewed from south looking north A medium-grade mineralised zone was modelled based on a nickel cut-off of >0.20% Ni, coincident with a S:Ni ratio of >0.5 (Figure 3). This modelling was limited to a depth range of 380m RL to -100m RL (i.e. starting ~100m below surface, eliminating any oxidised material, to approximately the depth of the deepest RC hole MTRC009). W E Figure 4: Implicit modelling of only central results using >0.28% Ni cut-off Outline of main Mulga Tank dunite body, viewed from south looking north, planned February RC holes shown in red ASX:WMG www.westernmines.com.au 5 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK A higher-grade mineralised zone was modelled based on a nickel cut-off of >0.28% Ni, predominantly associated with the area around holes MTRC015 and MTRC016 (Figure 4). This modelling was limited to a depth range of 380m RL to -100m RL and also excluded other zones above 0.28% Ni outside this central area. Cautionary statement on implicit geochemical modelling Implicit geochemical modelling is used as an exploration tool and a guide only to get a sense of scale of the results to date and help guide future exploration. Insufficient drilling and exploration has been conducted to determine a JORC compliant Mineral Resource and implicit modelling should not be considered as a proxy or substitute for a JORC compliant Resource or Exploration Target. FEBRUARY RC FOLLOW-UP DRILLING A 17 hole RC program is planned to be drilled during February predominantly focused on infilling the higher grade core area. The team has been on site since 19 January and have nearly finished clearing pads and drilling pre-collars through the sand cover for these holes. Figure 5: February RC infill follow-up drilling (section lines below) ASX:WMG www.westernmines.com.au 6 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK Figure 6: Cross section W-E through the Mulga Tank Complex showing February RC Holes (blue) Figure 7: Cross section N-S through the Mulga Tank Complex showing February RC holes (blue) ASX:WMG www.westernmines.com.au 7 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK DIAMOND HOLE EIS3 Following the initial 17 hole RC program the Company intends to drill deep diamond hole EIS3, a co-funded hole with a grant from the WA State Government’s Exploration Incentive Scheme (EIS) (ASX, WMG Wins $220,000 EIS Award to Drill Mulga Tank, 19 October 2023). This hole will look to test for a sulphide enriched keel in the deepest part of the Complex, based on the Company’s previous deep diamond drilling, and also tests a compelling coincident MobileMT anomaly around -700m RL, near the basal contact. E 400mRL W -1000mRL Dunite shell Figure 8: Stacked depth slices of MobileMT conductivity showing drill trace of EIS3 and outline dunite shell of the Mulga Tank Complex Figure 9: MobileMT conductivity depth slice through Mulga Tank Complex (-700m RL) ASX:WMG www.westernmines.com.au 8 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK EXTENSIONAL RC DRILLING WMG has planned around 17 additional RC holes looking to extend the zone tested by the initial SeptemberOctober 2023 RC program. These holes will look to extend mineralisation to the south along with some further infill drilling within the central-eastern area. Figure 10: Extensional RC follow-up drilling The Company is excited to commence our 2024 drilling programs and looks forward to regularly updating shareholders as they progress. 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 9 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK 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-Co-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. WMG’s exploration work has discovered significant nickel sulphide mineral system and is considered highly prospective for globally significant Ni-Co-Cu-PGE deposits. 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: 67.57m Options: 20.12m Share Price: $0.19 Market Cap: $12.84m Cash (31/10/23): $3.07m 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 10 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK MULGA TANK PROJECT JORC CODE, 2012 EDITION - TABLE 1 SECTION 1: SAMPLING TECHNIQUES AND DATA Criteria Sampling techniques Drilling techniques Drill sample recovery ASX:WMG JORC Code explanation Commentary • Nature and quality of sampling (eg cut channels, • Heliborne MobileMT survey conducted by random chips, or specific specialised industry Expert Geophysics Ltd an independent standard measurement tools appropriate to the geophysical contractor minerals under investigation, such as down hole • MobileMT configuration/parameters: gamma sondes, or handheld XRF instruments, etc). Helicopter: AS 350 B3 These examples should not be taken as limiting the Average Survey Speed: 25m/sec broad meaning of sampling. Helicopter clearance: 168m • Include reference to measures taken to ensure Magnetometer clearance: 97m sample representivity and the appropriate calibration EM Sensor clearance: 78m of any measurement tools or systems used. Survey size: 586 line kms • Aspects of the determination of mineralisation that Survey area: 106 square kms are Material to the Public Report. Line direction: E-W 090-270 Line spacing: 200m In cases where ‘industry standard’ work has been • done this would be relatively simple (eg ‘reverse MobileMT frequencies: 22, 25, 37, 44, 56, 71, circulation drilling was used to obtain 1 m samples 89, 112, 140, 177, 223, 281, 354, 5663, 11327, from which 3 kg was pulverised to produce a 30 g 14271, 17980 and 22654Hz charge for fire assay’). In other cases more VLF EM frequency: 19.80kHz explanation may be required, such as where there is • Processed MobileMT data was inverted into coarse gold that has inherent sampling problems. Glass Earth 3D resistivity models by Unusual commodities or mineralisation types (eg TechnoImaging LLC submarine nodules) may warrant disclosure of • Implicit modelling of drilling assays results detailed information. completed in Micromine using Grade Modelling function • Drill type (eg core, reverse circulation, open-hole • Not applicable hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). • Method of recording and assessing core and chip • Not applicable sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/ coarse material. www.westernmines.com.au 11 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK Criteria JORC Code explanation Commentary • Whether core and chip samples have been • Not applicable geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Logging • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. Sub-sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half • Not applicable or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all subsampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/ second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • The nature, quality and appropriateness of the • MobileMT survey using Expert Geophysics assaying and laboratory procedures used and proprietary equipment including an airborne whether the technique is considered partial or total. receiver with three orthogonal induction coils, airborne DGPS system, EGL PC-104-based For geophysical tools, spectrometers, handheld XRF • data acquisition system, MobileMT base instruments, etc, the parameters used in determining Quality of station, GSM-19 overhauser magnetometer the analysis including instrument make and model, assay data base station reading times, calibrations factors applied and their and laboratory derivation, etc. • Standard geophysical QAQC procedures were tests adopted by Expert Geophysics during • Nature of quality control procedures adopted (eg surveying including re-flying survey lines where standards, blanks, duplicates, external laboratory necessary checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Verification of sampling and assaying Location of data points ASX:WMG • The verification of significant intersections by either • MobileMT survey data reviewed by the independent or alternative company personnel. Company’s consultant geophysicist • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • Accuracy and quality of surveys used to locate drill • MobileMT survey located using an airborne holes (collar and down-hole surveys), trenches, mine GPS navigation system with Line RXM-GNSSworkings and other locations used in Mineral TM GPS engines with accuracy of +/-2.5m Resource estimation. • Ground clearance recorded with a Smartmirco UMRR-0A radar altimeter • Specification of the grid system used. • Quality and adequacy of topographic control. • GDA94 MGA Zone 51 www.westernmines.com.au 12 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK Criteria Data spacing and distribution JORC Code explanation Commentary • Data spacing for reporting of Exploration Results. • Spacing between MobileMT survey lines was 200m • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade • W i t h 2 5 m / s e c s u r v e y s p e e d a n d continuity appropriate for the Mineral Resource and measurements collected every 0.33sec data O re R e s e r v e e s t i m a t i o n p ro c e d u re ( s ) a n d spacing was approximately every 8m along classifications applied. survey lines • Whether sample compositing has been applied. • Survey line spacing and data collection spacing is considered adequate for this type of survey • Whether the orientation of sampling achieves • MobileMT survey lines were orientated E-W unbiased sampling of possible structures and the 090-270, approximately perpendicular to the extent to which this is known, considering the deposit NNW trending interpreted komatiite channels Orientation of type. and geological formations data in relation to geological If the relationship between the drilling orientation and • structure the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Sample security Audits or reviews • The measures taken to ensure sample security. • All data acquired by Expert Geophysics was reported to the Company’s consultant geophysicist • The results of any audits or reviews of sampling • MobileMT data was independently verified by techniques and data. the Company’s consultant geophysicist Russell Mortimer of Southern Geoscience Consultants SECTION 2: REPORTING OF EXPLORATION RESULTS Criteria JORC Code explanation Commentary Mineral tenement and land tenure status • Type, reference name/number, location and • Tenements E39/2132 and E39/2223, tenement ownership including agreements or material issues application E39/2299 with third parties such as joint ventures, partnerships, • Held 100% by Western Mines Group Ltd overriding royalties, native title interests, historical • 1% NSR to original tenement holder sites, wilderness or national park and environmental • Native Title Claim by Upurli Upurli Nguratja not settings. yet determined • The security of the tenure held at the time of reporting No known historical or environmentally along with any known impediments to obtaining a • sensitive areas within the tenement area licence to operate in the area. • Tenement is in good standing Exploration done by other parties • Acknowledgment and appraisal of exploration by • Previous exploration over the Mulga Tank other parties. project area by various companies dates back to the 1980s • Of these, more detailed exploration was completed by BHP Minerals Pty Ltd (1982– 1984), MPI Gold Pty Ltd (1995–1999), North Limited (1999–2000), King Eagle Resources Pty Ltd (2004–2012), and Impact (2013–2018) ASX:WMG www.westernmines.com.au 13 ASX RELEASE | 2024 EXPLORATION PROGRAMS COMMENCE AT MULGA TANK Criteria JORC Code explanation Commentary Geology • Deposit type, geological setting and style of • The geology of the project area is dominated mineralisation. b y t h e i r re g u l a r s h a p e d M u l g a Ta n k serpentinised metadunite intrusive body measuring ~5km x 5km, hosted within metasediments, mafic to felsic schists and foliated metagranite of the northwest trending Archean Minigwal Greenstone Belt • Previous drilling intersected disseminated and narrow zones of massive nickel-copper sulphide mineralisation within the dunite intrusion • The intrusion is concealed under variable thicknesses of cover (up to 70 m in places) with the interpretation of the bedrock geology based largely on aeromagnetic data and limited drilling Drill hole information • A summary of all information material to the • A listing of the drill hole information material to understanding of the exploration results including a the understanding of the exploration results tabulation of the following information for all Material provided in the body of this announcement drill holes: • The use of any data is recommended for indicative purposes only in terms of potential • easting and northing of the drill hole collar Ni-Cu-PGE mineralisation and for developing • elevation or RL (Reduced Level – elevation above exploration targets sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth hole length. If the exclusion of this information is justified on the • basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. Data aggregation methods • In reporting Exploration Results, weighting averaging • No metal equivalent values have been quoted techniques, maximum and/or minimum grade • Processed MobileMT data were inverted into truncations (eg cutting of high grades) and cut-off Glass Earth 3D resistivity models by grades are usually Material and should be stated. TechnoImaging LLC • Where aggregate intercepts incorporate short lengths • Implicit modelling of drilling assays results of high grade results and longer lengths of low grade completed in Micromine using Grade Modelling results, the procedure used for such aggregation function should be stated and some typical examples of such • Radial Basis Function Model aggregations should be shown in detail. Input Grade Parameters: Natural Log • The assumptions used for any reporting of metal Interpolant: Exponential equivalent values should be clearly