Announcement PDF ASX RELEASE 29 MAY 2024 HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) HIGHLIGHTS • Completion of diamond hole MTD029 (EIS3) at Mulga Tank to 1,722m depth • Hole intersected ~1,600m of high MgO meso-adcumulate dunite with disseminated nickel sulphide mineralisation and numerous high-grade sulphide veinlets and segregations over >860m • Frequent high tenor nickel sulphide veinlets and large segregations highlight very “active” zones of the Complex - confirmed by spot pXRF up to 57.3% Ni • Broad zones up to ~150m with spot pXRF readings ~0.40% Ni including possible richer cloud sulphide as seen at similar depth in MTD027 • Top portion of the hole drilled as wider diameter HQ core with 112kg bulk sample taken for initial metallurgical test work • Hole designed to infill RC pattern, provide material for test work and test conductive MobileMT anomaly at depth • MTD029 (EIS3) was drilled with the aid of WA EIS grant with 50% of the drilling costs co-funded up to $220,000 Western Mines Group Ltd (WMG or Company) (ASX:WMG) is pleased to update shareholders on the completion of diamond drill hole MTD029 (EIS3) at the Mulga Tank Ni-Cu-PGE Project, on the Minigwal Greenstone Belt, in Western Australia’s Eastern Goldfields. Hole MTD029 (EIS3) is located in the centre of the Mulga Tank Complex between RC holes MTRC015 and MTRC016 and previous diamond holes MTD023 (EIS1), MTD026 (EIS2) and MTD027. The hole was designed to both infill the RC pattern, 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 test a coincident MobileMT anomaly near the basal contact (ASX, 2024 Exploration Programs Commence at Mulga Tank, 29 January 2024). The hole was drilled with the aid of WMG’s WA Exploration Incentive Scheme (EIS) award (ASX, WMG Wins $220,000 EIS Award to Drill Mulga Tank, 19 October 2023). MTD029 (EIS3) intersected a ~1,600m thickness of high MgO meso-adcumulate dunite ultramafic containing disseminated magmatic sulphides (trace to 2%) that in a number of places coalesced into interstitial blebs (3 to 5% sulphide). Numerous intersections of high-tenor remobilised nickel sulphide veinlets and large sulphide segregations were also observed down the hole, confirmed by spot pXRF readings up to 57.3% Ni. Broad zones of disseminated mineralisation and frequent sulphide veining and sulphide segregations continue to highlight the significant nickel sulphide mineral system within the Mulga Tank Ultramafic Complex. 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: 75.72m Share Price: $0.39 Market Cap: $29.53m Cash: $1.77m (31/03/24) 1 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) The upper portion of the hole was drilled with wider diameter HQ core, with a 112kg sample taken for preliminary metallurgical test work on the extensive shallow disseminated sulphide mineralisation demonstrated by the Company’s Exploration Target modelling (ASX, Mulga Tank JORC Exploration Target, 5 February 2024). The deeper portion of the hole showed the strongest evidence to date for the system to host a massive sulphide component, with frequent high-grade sulphide veining and numerous zones of large sulphide segregations, in a very “active” and sulphide saturated magma assemblage. This continues to validate the Company’s assumptions and exploration thesis. Initial modelling of the drill trace suggest the hole dropped steeper than anticipated, missing the core of the MobileMT anomaly (Figure 7). DHEM and a drill wedge off this hole is being considered and modelled to further test and hit the centre of the MobileMT target. Commenting on the Mulga Tank Project, WMG Managing Director Caedmon Marriott said: “Diamond hole MTD029 (EIS3), drilled with the aid of our EIS grant, is deepest hole so far at the Mulga Tank Project and again highlights what an extensive nickel sulphide mineral system the Complex hosts. Sulphide mineralisation is encountered nearly everywhere we drill and this hole continued that trend with cumulatively around ~860m of disseminated and blebby sulphide mineralisation, along with frequent high-grade and high-tenor remobilised sulphide veining and large sulphide globules or segregations. The hole validates our exploration thesis with very ‘active’ zones seen at depth and very likely basal massive sulphide component to the Mulga Tank system. The team is currently looking at further targeting possible massive sulphide accumulations.” MULGA TANK 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. WMG recently completed a 17 hole 5,534m Phase 2 RC drilling program and has recommenced diamond drilling at the project (ASX, Completion of Phase 2 RC Drilling Commencement of EIS3, 8 April 2024). This two pronged approach uses RC to infill and prove up the extent of shallow disseminated nickel sulphide mineralisation, defined by the Company’s JORC Exploration Target modelling (ASX, Mulga Tank JORC Exploration Target, 5 February 2024), whilst the diamond drilling program continues to test deeper targets. Further drill holes will continue to be added to these programs, with ongoing targeting work, as the Company systematically explores the Mulga Tank Ultramafic Complex. HOLE MTD029 (EIS3) Hole MTD029 (EIS3) is the first diamond hole of 2024 and is located in the centre of the Mulga Tank Complex between RC holes MTRC015 and MTRC016 and previous diamond holes MTD023 (EIS1), MTD026 (EIS2) and MTD027. The hole was positioned for multiple purposes, infilling the RC drilling program at this location and looking to test a conductive MobileMT anomaly around -700m RL, near the basal contact and for a sulphide enriched keel in the deepest part of the Complex. The hole was drilled to a total depth of 1,722m, the deepest hole drilled at the project, and intersected ~1,600m of variably serpentinised and talc-carbonate altered high MgO meso-adcumulate dunite ultramafic (66-1,658.2m), beneath 66m of sand cover (0-66m), before encountering a footwall of basalt and silicified shales at 1,658.2m depth (1,658.2-1,722m) (Appendix - Table 1). ASX:WMG www.westernmines.com.au 2 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) The dunite was divided by an approximately ~27m thick dolerite unit (797.8-825m) that most likely represents a later dyke/sill. This dolerite unit is something of a marker horizon and was seen in holes MTD023 (EIS1) (~900m to WNW), MTD026 (EIS2) (~300m to SSW) and MTD027 (~850m E), though at slightly shallower depths. Disseminated magmatic sulphides (trace to 2%) were observed at numerous intervals down the hole, cumulatively over more than 860m. In a number of places the disseminated sulphides coalesce into interstitial blebs (3 to 5% sulphide) between former olivine crystals (Figure 5) (Appendix - Table 2). Corresponding pXRF readings of Ni, with elevated Cu and S, along with mineralogical thin section analysis, support the likelihood of this being disseminated magmatic nickel sulphide mineralisation. MTD029 NQ2 Core 2” Diameter Depth: 1599.9m Spot pXRF: 57.3% Ni, 1.68% Co, 1.75% Cu Figure 1: Photos showing examples of large sulphide segregations in hole MTD029 (EIS3) Note: core is NQ2 being 2 inches or 50mm diameter MTD029 NQ2 Core 2” Diameter Depth: 1487.95m Spot pXRF: 11.9% Ni, 0.36% Co Figure 2: Photos showing examples of sulphide segregations and veinlets in hole MTD029 (EIS3) Note: core is NQ2 being 2 inches or 50mm diameter ASX:WMG www.westernmines.com.au 3 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) MTD029 MTD029 NQ2 Core 2” Diameter NQ2 Core 2” Diameter Depth: 1487.95m Spot pXRF: 11.9% Ni, 0.36% Co Figure 3: Photos showing examples of sulphide segregations and veinlets in hole MTD029 (EIS3) Note: core is NQ2 being 2 inches or 50mm diameter MTD029 MTD029 NQ2 Core 2” Diameter NQ2 Core 2” Diameter Depth: 1601.1m Spot pXRF: 7.42% Ni, 0.21% Co, 0.15% Cu Figure 4: Photos showing examples of large sulphide segregations in hole MTD029 (EIS3) Note: core is NQ2 being 2 inches or 50mm diameter ASX:WMG www.westernmines.com.au 4 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) Figure 5: Photos showing examples of heavily disseminated sulphide in hole MTD029 (EIS3) (left 698m, centre 1328m, right 1340m) Note: core is NQ2 being 2 inches or 50mm diameter Multiple intersections of high-tenor remobilised nickel sulphide veinlets as well as large immiscible sulphide segregations were observed down the hole (Figures 1 to 4), confirmed by spot pXRF readings up to 57.3% Ni (Appendix - Table 3). These sulphide veinlets and segregations clearly demonstrate all the conditions and processes are present to form basal massive sulphide accumulations within the Mulga Tank Complex, with the most frequent and ‘active’ zones encountered to date seen within hole MTD029 (EIS3). Cautionary statement on visible sulphides Mineralogical work on a limited number of samples from MTD029 (EIS3) and previous diamond holes has confirmed disseminated pentlandite mineralisation. 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. However, 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. 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. ASX:WMG www.westernmines.com.au 5 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) 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 MTD029 (EIS3) have been taken at 25cm intervals over the top 340m and then 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. Processed pXRF data from MTD029 (EIS3) is presented below (Figure 6). In general the pXRF data confirms the rock to be high MgO, meso-adcumulate dunite down the length of the hole. The mean average Ni value across at total of 3,718 readings taken over the logged ultramafic portions of the hole was 0.35% Ni, with individual spot values of up to 57.3% Ni where high tenor remobilised sulphide veining and segregations were tested. 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 broad sections of high MgO, S, Cu and Ni results. Significant trends within the pXRF results (and subsequent assay results) are beginning to be discerned and able to be correlated between the deep diamond holes drilled so far (MTD023, MTD026, MTD027 and MTD028), starting to reveal the architecture of the Mulga Tank Ultramafic Complex. 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. DISCUSSION Hole MTD029 (EIS3) was successfully drilled to a final depth of 1,722m without issues. The hole achieved a number of exploration goals with the upper portion of the hole infilling the RC drilling pattern and wider diameter HQ core providing material for metallurgical test work. The top 600m has been cut, sampled and delivered to the lab for geochemical assay along with a 112kg bulk sample taken for the metallurgical test work. First assay results are expected to be received in the next couple of weeks. The deeper portion of the hole showed the strongest evidence to date for the system to host a massive sulphide component, with frequent sulphide veining and numerous zones of large sulphide segregations, in a very “active” and sulphide saturated magma assemblage. These observations continue to validate the Company’s assumptions and exploration thesis. Heavily disseminated, possible “cloud sulphide”, was encountered in hole MTD029 (EIS3) at a similar relative position to the zone seen in MTD027 - which returned 96m at 0.40% NI from 1,208m, including 38m at 0.56% Ni from 1,262m and 8m at 1.11% Ni from 1,270m. Initial modelling of the drill trace survey for hole MTD029 (EIS3) suggest it dropped steeper sooner than anticipated, missing the core of the MobileMT anomaly (Figure 7). A Down-Hole Electromagnetic (DHEM) survey is planned for the hole and a drill wedge off this hole is being considered and modelled to further test and hit the centre of the MobileMT target. The Company is pleased with the initial visual observations from hole MTD029 (EIS3). It is encouraging that the hole again successfully demonstrates disseminated nickel sulphide mineralisation in the upper section whilst the remobilised veinlets and large sulphide segregations provide yet more evidence for the Mulga Tank Complex to host a hybrid Type 1/2 nickel sulphide mineral system - with both disseminated and massive sulphide components. ASX:WMG www.westernmines.com.au 6 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) Figure 6: Processed pXRF data for hole MTD029 (EIS3) ASX:WMG www.westernmines.com.au 7 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) Figure 7: MobileMT conductivity depth slice through Mulga Tank Complex showing drill trace for hole MTD029 (EIS 3) (-700m RL, ~1170m below surface) The Company looks forward to updating shareholders on the assay results from hole MTD029 (EIS3) once they are received along with continuing progress at the Mulga Tank Project. 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 | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) APPENDIX HoleID MTD029 From (m) To (m) Primary Lithology 0 66 Sand cover ox Intensely oxidised ultramafic/saprolite zone Alteration Comments Rock-rolled sand overburden MTD029 66 92 Oxidised Ultramafic/ Saprolite MTD029 92 114.4 Weathered Ultramafic ox, cl, tc-cb Weathered ultramafic with frequent talc-magnesite and magnesite veining, varying levels of Cr depletion, chloritisation, carbonation MTD029 114.4 136 Mesocumulate Dunite srp, tc, cb Moderately serpentinised and intermittently carbonate altered dark green-black mesocumulate dunite, common talc-carb veining MTD029 136 159.4 Mesocumulate Dunite srp Strongly serpentinised green mesocumulate dunite, medium grained MTD029 159.4 172.4 Meso-adcumulate Dunite srp Black magnetite altered serpentinite, 2% disseminated sulphide throughout with 3-5% blebby zones associated with glassy texture and lenticular serpentine veining MTD029 172.4 210.8 Meso-adcumulate Dunite srp Variably serpentinised meso-adcumulate dunite, medium grained MTD029 210.8 217.2 Meso-adcumulate Dunite srp Black magnetite altered serpentinite with 2% disseminated sulphide MTD029 217.2 229.2 Meso-adcumulate Dunite srp Variably serpentinised meso-adcumulate dunite with frequent talc-carb veining, medium grained MTD029 229.2 240.7 Meso-adcumulate Dunite srp Black magnetite altered serpentinite with 2-3% disseminated sulphide and 3-5% blebby/ net textured zones MTD029 240.7 303.8 Meso-adcumulate/TalcCarb Dunite srp, tc, cb Variably serpentinised and talc-carb altered meso-adcumulate dunite, frequent talc-carb veins and slight foliation in places with rare sigmoidal serpentinite veining MTD029 303.8 333.8 Meso-adcumulate Dunite srp Mostly black magnetite altered serpentinite with some moderately serpentinised zones, trace-2% disseminated sulphide with rare 5% blebby zones and sulphide veining MTD029 333.8 359.7 Meso-adcumulate Dunite srp Variably serpentinised meso-adcumulate dunite with rare <20cm black magnetite altered zones with 3-5% blebby sulphide MTD029 359.7 411.3 Meso-adcumulate Dunite srp Variably serpentinised meso-adcumulate dunite with intermittent trace-3% disseminated sulphide and 5-10% blebby zones, high tenor semi-massive sulphide vein (pXRF 395.4m) MTD029 411.3 447.8 Meso-adcumulate Dunite srp, tc, cb Black magnetite altered serpentinite with common talc-carb veining, trace-3% disseminated sulphide throughout with frequent 5-10% blebby zones MTD029 447.8 531.4 Meso-adcumulate Dunite srp, tc, cb Variably serpentinised meso-adcumulate dunite with intermittent trace-2% disseminated sulphide and rare 3-5% blebby zones, sulphide veining (pXRF 514.2m) MTD029 531.4 649.4 Meso-adcumulate Dunite srp Strongly serpentinised green meso-adcumulate dunite, variable grain size 2-10mm, infrequent zones of disseminated sulphide MTD029 649.4 793 Meso-adcumulate Dunite srp Variably serpentinised meso-adcumulate dunite, frequent zones of 1-3% disseminated sulphide and 3-5% blebby zones, several stockworks of sulphide veining (pXRF 676.7m, 688.1m, 697.6m) MTD029 793 797.9 Altered Dunite srp, cb Grey carbonated flooded dunite proximal to underlying dolerite, 1-3% disseminated sulphide MTD029 797.9 825.1 Dolerite MTD029 825.1 936 Meso-adcumulate Dunite srp, tc, cb Very fractured broken ground below sill contact, intense talc-magnesite alteration controlled by frequent vein sets. Veining includes occasional remobilised massive sulphide in a subparallel trend with drill dip. Infrequent but selectively mineralised zones hold broad patches of disseminated sulphide where cumulate textures still visible MTD029 936 1042 Adcumulate Dunite srp Mildly to unaltered dunite, occasional black magnetite colouration with coarser grained olivine. Looks to contain some juvenile replenishment mix. Where sulphides present tend to be more blebby than disseminated, still remobilised veining through this zone MTD029 1042 1195 Adcumulate Dunite srp, tc, cb Broad intervals of talc-carb flooding, with less altered dunite between, minimal to no mineralisation visible or via pXRF in these zones MTD029 1195 1245.6 Adcumulate Dunite srp Mildly serpentinised, meso-adcumulate dunite, coarser grained relict olivines MTD029 1245.6 1248.1 Basalt cl Chloritised this basal unit, xenolith? MTD029 1248.1 1292 Altered Dunite tc, cb In and out of infrequent igneous texture but generally moderate, though pervasive talc-carb overprint, vein-controlled by numerous thin vein sets and proximal fractures MTD029 1292 1449.5 Adcumulate Dunite mgt, srp Black magnetite adcumulate dunite, rich disseminated to blebby sulphides throughout (Pn + enriched Cu suggests minor Cp) MTD029 1449.5 1550.3 Adcumulate Dunite Mildly to unaltered dunite, coarser grained relict olivine, no sulphides visible. Another possible replenishment zone. MTD029 1550.3 1613 Adcumulate Dunite Slightly finer-grained than above sub-unit, darker more altered with sulphides present: back into mineralisation MTD029 1613 1634.8 Altered Dunite Intense talc-carbonate altered dunite above shale contact, complete magnesite replacement in sections, fractured and brittle MTD029 1634.8 1637.2 Black Shale ASX:WMG Grey equigranular dolerite with frequent qyz veining, qtz-chl-cpy veining in top 2m (pXRF 797.85m 17% Cu), pyrite in fractures, broken contacts si Thin sulphidic black shale unit, highly silicified, flow-banded with thick semi-massive pyrrhotite and minor chalcopyrite www.westernmines.com.au 9 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) HoleID From (m) To (m) Primary Lithology Alteration Comments MTD029 1637.2 1658.2 Adcumulate Dunite tc, mgs Varying between complete magnesite replacement and adcumulate dunite with rich disseminated Pn sulphides. Likely basal subunit of dunite mineralised but overprint of alteration has obliterated many textures and phases MTD029 1658.2 1659 Black Shale si Semi-massive pyrrhotitic, intensely silicified black shale, minor chalcopyrite, where less silicified slightly graphitic MTD029 1659 1673.1 Basalt-Black Shale cl, si Mingling between the two units shows zones of uniformity, partially digested shales and replaced pyrrhotite. Basalt grades out of chloritisation away from immediate contact, compositional mixture within the footwall assemblage MTD029 1673.1 1722 Basalt si Massive, silicified basalt unit, minor qtz veining in sections Table 1: Logging table summary for hole MTD029 (EIS3) HoleID From (m) To (m) Interval (m) Lithology Sulphide Texture Sulphide Abundance (%) Sulphides Observed MTD029 108.1 109.4 1.3 Magnesite Vein Veinlet 3% Pentlandite-Chalcopyrite MTD029 159.4 172.4 13 Mesocumulate Dunite Disseminated Blebby Veinlet 1-2% 3-5% 5% Pentlandite Pentlandite-Pyrrhotite Pentlandite-Pyrrhotite MTD029 210.8 217.2 6.4 Mesocumulate Dunite Disseminated 1-2% Pentlandite MTD029 231 240.7 9.7 Mesocumulate Dunite Disseminated Blebby 1-3% 3-5% Pentlandite Pentlandite-Pyrrhotite MTD029 253.2 253.7 0.5 Mesocumulate Dunite Blebby 3-5% Pentlandite-Pyrrhotite tr-2% 3-5% Pentlandite MTD029 303.8 319.7 15.9 Mesocumulate Dunite Disseminated Veinlet MTD029 320.5 324.8 4.3 Mesocumulate Dunite Veinlet Blebby 3-5% Pentlandite-Pyrrhotite MTD029 329 333.8 4.8 Mesocumulate Dunite Disseminated Veinlet tr-1% 5-10% Pentlandite Pentlandite-Pyrrhotite MTD029 359.7 367.2 7.5 Meso-adcumulate Dunite Disseminated Veinlet tr-3% 3-5% Pentlandite Pentlandite-Pyrrhotite MTD029 370.8 447.8 77 Meso-adcumulate Dunite Disseminated Veinlet tr-3% 10-40% Pentlandite Pentlandite-Pyrrhotite MTD029 453.7 504.4 50.7 Meso-adcumulate Dunite Disseminated tr-5% Pentlandite tr-3% 10-20% Pentlandite MTD029 511.8 538.5 26.7 Mesocumulate Dunite Disseminated Veinlet MTD029 553.3 560.8 7.5 Mesocumulate Dunite Disseminated tr-1% Pentlandite MTD029 564.3 577.3 13 Mesocumulate Dunite Disseminated tr-3% Pentlandite MTD029 586 589.9 3.9 Mesocumulate Dunite Blebby 2-3% Pentlandite MTD029 592.1 601.1 9 Mesocumulate Dunite Disseminated tr-1% Pentlandite MTD029 613.5 620.8 7.3 Mesocumulate Dunite Disseminated tr-2% Pentlandite tr-2% 3-5% 5-10% Pentlandite Pentlandite Pentlandite-Pyrrhotite 700.7 51.5 Mesocumulate Dunite Disseminated Blebby Veinlet 707.8 719 11.2 Meso-adcumulate Dunite Disseminated tr-2% Pentlandite 726.2 728.9 2.7 Meso-adcumulate Dunite Disseminated tr-2% Pentlandite MTD029 747.4 767.2 19.8 Meso-adcumulate Dunite Disseminated Blebby tr-3% Pentlandite MTD029 778.1 797.9 19.8 Meso-adcumulate Dunite Disseminated tr-1% Pentlandite tr-2% 3-5% Pentlandite MTD029 649.2 MTD029 MTD029 MTD029 825.1 883.3 58.2 Meso-adcumulate Dunite Disseminated Veinlet MTD029 883.3 998.6 115.3 Meso-adcumulate Dunite Disseminated Blebby Veinlet tr-2% 3-5% 5-10% Pentlandite Pentlandite Pentlandite-Pyrrhotite MTD029 1001.1 1014.7 13.6 Adcumulate Dunite Disseminated tr-1% Pentlandite MTD029 1020.3 1033.2 12.9 Adcumulate Dunite Disseminated tr-2% Pentlandite MTD029 1045.5 1050 4.5 Adcumulate Dunite Blebby 1-2% Pentlandite tr-10% 3-5% Pentlandite tr-1% 3-5% Pentlandite MTD029 1195 1256.7 61.7 Adcumulate Dunite Disseminated Veinlet MTD029 1259 1265 6 Adcumulate Dunite Disseminated Veinlet ASX:WMG www.westernmines.com.au 10 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) HoleID From (m) To (m) Interval (m) Lithology Sulphide Texture Sulphide Abundance (%) Sulphides Observed MTD029 1318 1410.4 92.4 Adcumulate Dunite Disseminated Blebby Veinlet 2-5% 3-5% 5-30% Pentlandite Pentlandite Pentlandite-Pyrrhotite MTD029 1413 1426.9 13.9 Adcumulate Dunite Disseminated 3-10% Pentlandite MTD029 1436 1450.7 14.7 Adcumulate Dunite Disseminated 5-10% Pentlandite tr-1% 5-10% Pentlandite MTD029 1454.4 1457.5 3.1 Adcumulate Dunite Disseminated Veinlet MTD029 1482.5 1515.6 33.1 Adcumulate Dunite Blebby Veinlet/Segregations 3-5% 10-30% Pentlandite MTD029 1550.3 1571.7 21.4 Adcumulate Dunite Disseminated 1-3% Pentlandite MTD029 1583.4 1588.4 5 Adcumulate Dunite Disseminated 1-3% Pentlandite 5-10% 10-20% Pentlandite 1-3% Pentlandite MTD029 1598.1 1634.2 36.1 Adcumulate Dunite Blebby Veinlet/Segregations MTD029 1641 1654 13 Adcumulate Dunite Disseminated Table 2: Visual sulphide table for hole MTD029 (EIS3) HoleID Depth Point (m) Beam Time (s) Ni (%) Co (ppm) Cu (ppm) S (%) MTD029 164.2 3 x 20 2.82 1284 975 3.25 MTD029 346.7 3 x 20 3.35 941 796 3.93 MTD029 395.4 3 x 20 42.2 8597 7039 fd MTD029 514.2 3 x 20 2.69 2180 1054 24.5 MTD029 676.6 3 x 20 2.45 1615 1034 8.90 MTD029 688.1 3 x 20 2.16 1291 947 5.47 MTD029 697.6 3 x 20 9.15 3205 4091 19.5 MTD029 733.15 3 x 20 2.22 1118 229 7.84 MTD029 886.4 3 x 20 2.93 1519 428 5.36 MTD029 898.35 3 x 20 3.91 1065 655 4.46 MTD029 951.6 3 x 20 5.07 2498 481 6.69 MTD029 971.4 3 x 20 36.5 5805 3831 fd MTD029 986.6 3 x 20 4.28 1793 2429 9.53 MTD029 988.3 3 x 20 10.1 2685 1791 20.5 MTD029 1372.1 3 x 20 7.09 2612 3668 6.46 MTD029 1487.95 3 x 20 11.9 3631 391 10.7 MTD029 1599.9 3 x 20 57.3 16828 17478 fd MTD029 1601.1 3 x 20 7.42 2117 1545 13.4 MTD029 1608 3 x 20 2.92 1041 1070 2.62 MTD029 1646.1 3 x 20 2.35 1010 358 6.67 Table 3: Significant spot pXRF results hole MTD029 (EIS3) HoleID MTD029 Easting (MGA51) Northing (MGA51) Depth (m) Azimuth Dip 520998 6689137 1722 270 -85 Table 4: Collar details for hole MTD029 (EIS3) ASX:WMG www.westernmines.com.au 11 ASX RELEASE | HIGH-GRADE SULPHIDE SEGREGATIONS AT DEPTH IN MTD029 (EIS3) 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: 75.72m Options: 20.13m Share Price: $0.39 Market Cap: $29.35m Cash (31/03/24): $1.77m 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 eve