Announcement PDF WESTERN MINES GROUP COMPANY AGM PRESENTATION 27 NOVEMBER 2024 @westernmines Western Mines Group ASX: WMG www.westernmines.com.au DISCLAIMER NATURE OF THIS DOCUMENT This presentation has been prepared by Western Mines Group Ltd ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained. This presentation is a visual aid and is not intended to be read as a stand-alone document. The material contains selected and abbreviated summary information about the Company and its activities current as at the date of this presentation. The material is of general background and does not purport to be complete. The Company is not responsible for providing updated information and assumes no responsibility to do so. NOT AN OFFER This presentation is for information purposes only and does not purport to be all inclusive or to contain all information about the Company or any of the assets, current or future, of the Company. This presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This presentation also does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in any jurisdiction nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. This presentation and its contents must not be distributed, transmitted or viewed by any person in the United States or any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. NOT INVESTMENT ADVICE To the maximum extend permitted by law, the information contained in this presentation is given without any liability whatsoever being accepted by the Company or any of its related bodies corporate or their respective directors, officers, partners, employees, advisors and agents. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and its contents are not intended to be used for the basis of making an investment decision. No representation or warranty, express or implied, is made as to the accuracy, completeness or thoroughness of the information, whether as to the past or future. Recipients of this presentation should carefully consider whether the company is an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. This presentation does not take into account the individual investment objectives, financial situation and particular needs of each recipient of this presentation. Therefore, recipients of this presentation may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products. FORWARD LOOKING STATEMENTS Statements and material contained in this presentation, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of the Company, industry growth or other trend projects are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties and are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. DISCLAIMER No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this presentation, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. To the maximum extent permitted by the law, the Company disclaims any obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. COMPETENT PERSON STATEMENT The information in this announcement that relates to exploration results and the Exploration Target for the Mulga Tank Project complies with the 2012 Edition of the Joint Ore Reserves Committee (JORC) 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 Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Society of Economic Geologists. Caedmon has sufficient experience that is relevant to the styles of mineralisation and type of deposits under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Caedmon consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. MONETARY VALUES Unless otherwise stated, all dollar values are in Australian Dollars (A$). The information in this presentation remains subject to change without notice. ASX:WMG Western Mines Group Company Presentation, November 2024 2 A SIGNIFICANT 18 MONTHS FOR THE COMPANY A MAJOR NICKEL DISCOVERY AGAINST TOUGH MARKET HEADWINDS $1 .0 0 $30,000 $0 .9 0 WMG Share Price $0 .8 0 $0 .7 0 Nickel Price $25,000 $0 .6 0 $0 .5 0 $0 .4 0 $20,000 $0 .3 0 $0 .2 0 $0 .1 0 OCTOBER 2024 Further Phase 3 Assay Results up to 1.25% Ni 0.60% Cu Further High-Grade Intervals up to 2.46% Ni 0.43% Cu Regional EIS Drilling Confirms Belt-Scale Mineral System JULY 2024 Continuous Mineralisation in Upper Part of MTD029 (EIS3) SEPTEMBER 2024 Phase 3 Assays Extend Known Mineralisation at Mulga Tank MTRC046 Two High-Grade Zones inc. 5m at 1.92% Ni 0.21% Cu Phase 3 RC Results Yield Broad Sulphide Mineralisation First 19 Phase 3 RC Holes Complete at Mulga Tank MAY 2024 High-Grade Sulphide Segregations at Depth in MTD029 (EIS3) All Phase 2 RC Holes Show Broad Sulphide Mineralisation 1/05 /2 4 JANUARY 2024 2024 Exploration Programs Commence at Mulga Tank More RC Intersections over 1% Ni at Mulga Tank FEBRUARY 2024 Semi-Massive Sulphide in Mulga Tank Phase 2 RC Holes MULGA TANK JORC EXPLORATION TARGET MARCH 2024 Further RC Results with 200m Zones of Mineralisation MTRC024 Assays – Matrix-Massive Sulphide Over 4.5% Ni MTD029 (EIS3) Diamond Drilling Update MTRC038 Assay Results up to 3.16% Ni and 1.20% Cu MTRC032 Assays Matrix Sulphide 6m at 1.01% Ni 0.32% Cu APRIL 2024 1/04 /2 4 MARCH 2023 Completion of EIS Hole MTD023 APRIL 2023 MTD026 Update and Expansion of Mulga Tank Drilling Aqua Regia Testwork Confirms Nickel Sulphide Association MTD023 Assays Confirm Discovery of Significant Nickel System JUNE 2023 Completion of Hole MTD026 and Upcoming MobileMT Survey MTD026 Mulga Tank Drilling Update AUGUST 2023 Aqua Regia Testwork Confirms Nickel Sulphide MTD026 Assays 840m of Nickel Sulphide Mineralisation MTD027 Expands Mineralisation 4km Across Mulga Tank SEPTEMBER 2023 RC Drilling Program Commences at Mulga Tank Mulga Tank Mineralogy Highlights Carbon Capture PotentialMTD026 OCTOBER 2023 MTD028 Disseminated Nickel Sulphide 140m at 0.49% Ni MTD027 Best Assays Yet at Mulga Tank MTD028 Further Nickel Sulphides at Mulga Tank NOVEMBER 2023 MTRC009 Assays Confirm 367m of Nickel Mineralisation First RC Assays Show Broad Zones of Mineralisation Completion of 7,000m RC Drilling Program at Mulga Tank DECEMBER 2023 MTRC018 Assays Confirm Massive Sulphide 1.8% Ni, 4.9% Cu MTRC015 Assays Reveal Multiple Intersections Over 1% Ni 1/03 /2 4 3 Western Mines Group Company Presentation, November 2024 ASX:WMG 1/11 /2 4 1/10 /2 4 1/08 /2 4 1/09 /2 4 1/07 /2 4 1/06 /2 4 1/02 /2 4 1/01 /2 4 1/12 /2 3 1/11 /2 3 1/10 /2 3 1/09 /2 3 1/08 /2 3 1/07 /2 3 1/06 /2 3 1/05 /2 3 1/04 /2 3 $15,000 $0 .0 0 1/03 /2 3 FRUGAL AND EFFICIENT EXPLORATION CAPITAL SPEND FOCUSED ON ADDING VALUE IN THE GROUND • Small capital raises minimise dilution well supported by top 30 shareholders • Efficient exploration G&A : Exploration Ratio ~1:4 • Maintaining progress through the bottom of the cycle in preparation for the upswing Expenditure Q3CY23 Q4CY23 Q1CY24 Q2CY24 Q3CY24 Q4CY24 Capital Raised - $1.24m placement at $0.28 25 October 2023 $0.25m placement at $0.33 17 October 2023 $1.05m placement at $0.15 13 March 2024 $1.54m placement at $0.32 24 June 2024 - $1.19m placement at $0.15 25 November 2024 Exploration and Evaluation $1,414,000 $573,000 $1,203,000 $1,365,000 $875,000 TBC G&A Costs $223,000 $250,000 $183,000 $256,000 $288,000 TBC G&A : Exploration Ratio 1 : 6.3 1 : 2.3 1 : 6.6 1 : 5.3 1 : 3.0 TBC Quarterly Reported: ASX:WMG Western Mines Group Company Presentation, November 2024 4 WA FOCUSED NICKEL AND GOLD EXPLORATION ASX:WMG Western Mines Group Company Presentation, November 2024 5 TRANSFORMATIONAL YEAR FOR THE MULGA TANK PROJECT ADVANCING THE DISCOVERY OF AN EXTENSIVE NICKEL SULPHIDE MINERAL SYSTEM • 21,704m RC and diamond drilling completed since October 2023 November 2023 – January 2024 • Phase 1 RC first systematic drilling targeting shallow mineralisation February 2024 • JORC Exploration Target March – May 2024 • Phase 2 RC targeting higher grade core • Deep diamond hole MTD029 (EIS3) • Two further EIS grants awarded totalling $318,000 July – October 2024 • Phase 3 RC expanding mineralisation • MTRC046 significant high-grade intervals • Regional EIS RC drilling confirmed interpretation of komatiite channels • Ongoing metallurgical testwork ASX:WMG Western Mines Group Company Presentation, November 2024 6 PHASE 1 RC PROGRAM CONFIRMED SHALLOW MINERALISATION FIRST SYSTEMATIC EXPLORATION OF MULGA TANK • Initial 22 hole, 7,035m RC program – 19 out of 22 holes mineralised PHASE 1 RC RESULTS: • 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 • 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, 133ppm Co, 50ppm Cu, 16ppb Pt+Pd with S:Ni 1.0 • 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, 164ppm Cu, 25ppb Pt+Pd with S:Ni 1.3 • MTRC016: 200m at 0.30% Ni, 139ppm Co, 92ppm Cu, 25ppb Pt+Pd from 103m with 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: 186m at 0.28% Ni, 135ppm Co, 78ppm Cu, 22ppb Pt+Pd from 90m with S:Ni 0.9 • MTRC020: Cumulative 220m at 0.28% Ni, 132ppm Co, 112ppm Cu, 18ppb Pt+Pd with S:Ni 1.1 ASX:WMG Western Mines Group Company Presentation, November 2024 7 IMPLICIT MODELLING OF Ni, S AND CHALCOPHILE ELEMENTS JORC EXPLORATION TARGET 350Mt to 2,200Mt at 0.24% to 0.35% Ni, 120ppm to 150ppm Co, S:Ni 1.1 to 1.3 Higher-grade core W (2,800ppm Ni, 1,000ppm S cut-off) E Large lower-grade (1,500ppm Ni, 1,000ppm S cut-off) Dunite shell Cautionary Statement on JORC Exploration Target: The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. ASX:WMG Western Mines Group Company Presentation, November 2024 8 PHASE 2 RC FOCUSED ON THE HIGHER-GRADE CORE MULTIPLE +200M INTERVALS AND HIGHER GRADES EMERGING • 17 hole 5,534m RC completed February-March 2024 – all 17 holes mineralised • Drill hole spacing reduced to ~200m x 200m over 1km2 area PHASE 2 RC RESULTS: • MTRC023: Cumulative 115m at 0.28% Ni, 133ppm Co, 51ppm Cu, 27ppb Pt+Pd with S:Ni 0.9 • MTRC024: 199m at 0.31% Ni, 148ppm Co, 76ppm Cu, 23ppb Pt+Pd from 161m with S:Ni 1.1 • MTRC025: Cumulative 239m at 0.28% Ni, 139ppm Co, 72ppm Cu, 19ppb Pt+Pd with S:Ni 1.2 • MTRC026: 226m at 0.28% Ni, 125ppm Co, 62ppm Cu, 15ppb Pt+Pd from 86m with S:Ni 0.7 • MTRC027: Cumulative 193m at 0.26% Ni, 124ppm Co, 78ppm Cu, 22ppb Pt+Pd with S:Ni 1.0 • MTRC028: Cumulative 152m at 0.30% Ni, 134ppm Co, 109ppm Cu, 20ppb Pt+Pd with S:Ni 0.9 • MTRC029: Cumulative 138m at 0.25% Ni, 113ppm Co, 32ppm Cu, 6ppb Pt+Pd with S:Ni 0.6 • MTRC030: Cumulative 179m at 0.28% Ni, 126ppm Co, 41ppm Cu, 10ppb Pt+Pd with S:Ni 0.7 • MTRC031: 210m at 0.28% Ni, 137ppm Co, 104ppm Cu, 24ppb Pt+Pd from 87m with S:Ni 1.2 • MTRC032: 198m at 0.28% Ni, 145ppm Co, 249ppm Cu, 28ppb Pt+Pd from 108m with S:Ni 1.6 • MTRC033: Cumulative 184m at 0.27% Ni, 126ppm Co, 82ppm Cu, 18ppb Pt+Pd with S:Ni 0.9 • MTRC034: 240m at 0.30% Ni, 133ppm Co, 133ppm Cu, 36ppb Pt+Pd from 90m with S:Ni 1.0 • MTRC035: 220m at 0.28% Ni, 124ppm Co, 63ppm Cu, 25ppb Pt+Pd from 82m with S:Ni 0.7 • MTRC036: 182m at 0.27% Ni, 134ppm Co, 66ppm Cu, 27ppb Pt+Pd from 102m with S:Ni 1.0 • MTRC037: 224m at 0.29% Ni, 139ppm Co, 208ppm Cu, 25ppb Pt+Pd from 91m with S:Ni 1.0 • MTRC038: 199m at 0.31% Ni, 139ppm Co, 260ppm Cu, 27ppb Pt+Pd from 119m with S:Ni 1.3 • MTRC039: Cumulative 165m at 0.28% Ni, 125ppm Co, 73ppm Cu, 15ppb Pt+Pd with S:Ni 0.7 ASX:WMG Western Mines Group Company Presentation, November 2024 9 WITH PHASE 3 RC THE SYSTEM IS GETTING BIGGER AND BETTER EXTENDING MINERALISATION TO SOUTH AND EAST • 19 hole 6,002m RC completed July-September 2024 – all 19 holes mineralised • Infill around MTRC016, MTRC034 and follow-up on shallow high-grade results in MTRC032 and MTRC038 PHASE 3 RC RESULTS: • MTRC040: Cumulative 298m at 0.29% Ni, 131ppm Co, 65ppm Cu, 16ppb Pt+Pd with S:Ni 1.1 • MTRC041: Cumulative 254m at 0.27% Ni, 133ppm Co, 82ppm Cu, 20ppb Pt+Pd with S:Ni 1.3 • MTRC042: Cumulative 238m at 0.29% Ni, 133ppm Co, 96ppm Cu, 24ppb Pt+Pd with S:Ni 1.1 • MTRC043: 249m at 0.28% Ni, 129ppm Co, 62ppm Cu, 14ppb Pt+Pd from 111m with S:Ni 0.8 • MTRC044: Cumulative 187m at 0.28% Ni, 121ppm Co, 34ppm Cu, 10ppb Pt+Pd with S:Ni 0.8 • MTRC045: Cumulative 174m at 0.28% Ni, 125ppm Co, 49ppm Cu, 14ppb Pt+Pd with S:Ni 0.7 • MTRC046: 193m at 0.33% Ni, 152ppm Co, 310ppm Cu, 25ppb Pt+Pd from 107 with S:Ni 1.5 • MTRC047: 188m at 0.28% Ni, 129ppm Co, 57ppm Cu, 23ppb Pt+Pd from 112m with S:Ni 1.1 • MTRC048: Cumulative 173m at 0.29% Ni, 131ppm Co, 36ppm Cu, 19ppb Pt+Pd with S:Ni 0.7 • MTRC049: Cumulative 170m at 0.26% Ni, 125ppm Co, 50ppm Cu, 11ppb Pt+Pd with S:Ni 1.0 • MTRC050: Cumulative 164m at 0.28% Ni, 127ppm Co, 58ppm Cu, 13ppb Pt+Pd with S:Ni 1.0 • MTRC051: Cumulative 156m at 0.27% Ni, 133ppm Co, 212ppm Cu, 17ppb Pt+Pd with S:Ni 1.4 • MTRC052: 192m at 0.28% Ni, 125ppm Co, 63ppm Cu, 11ppb Pt+Pd from 114m with S:Ni 0.8 • MTRC053: 205m at 0.28% Ni, 129ppm Co, 85ppm Cu, 16ppb Pt+Pd from 87m with S:Ni 1.0 • MTRC054: 200m at 0.28% Ni, 124ppm Co, 31ppm Cu, 10ppb Pt+Pd from 100m with S:Ni 0.6 • MTRC055: 216m at 0.30% Ni, 144ppm Co, 109ppm Cu, 20ppb Pt+Pd from 84m with S:Ni 1.2 • MTRC056: 201m at 0.31% Ni, 134ppm Co, 176ppm Cu, 15ppb Pt+Pd from 81m with S:Ni 0.9 • MTRC057 216m at 0.27% Ni, 139ppm Co, 159ppm Cu, 13ppb Pt+Pd from 84m with S:Ni 1.1 • MTRC058 209m at 0.29% Ni, 132ppm Co, 50ppm Cu, 18ppb Pt+Pd from 91m with S:Ni 0.8 ASX:WMG Western Mines Group Company Presentation, November 2024 10 ITS NOT MT KEITH – ITS A PERSEVERANCE-STYLE HYBRID SYSTEM SEMI-MASSIVE NICKEL-COPPER SULPHIDE IN RC • Higher grade results in the central-eastern area of the Complex • MTRC015: 1m at 1.11% Ni, 516ppm Co, 0.45% Cu, 62ppb Pt+Pd from 172m 3m at 1.32% Ni, 56ppm Co, 0.10% Cu, 34ppb Pt+Pd from 184m 2m at 1.71% Ni, 836ppm Co, 0.10% Cu, 0.4g/t Pt+Pd from 229m • MTRC018: 1m at 1.84% Ni, 0.10% Co, 4.88% Cu, 26ppb Pt+Pd from 293m • MTRC024: 3m at 2.19% Ni, 777ppm Co, 597ppm Cu, 9ppb Pt+Pd from 253m inc. 1m at 4.51% Ni, 0.16% Co, 0.14% Cu, 16ppb Pt+Pd from 253m • MTRC032: 1m at 1.08% Ni, 602pm Co, 379ppm Cu, 83ppb Pt+Pd from 131m 6m at 1.01% Ni, 443ppm Co, 0.32% Cu, 0.12g/t Pt+Pd from 254m • MTRC038: 2m at 1.51% Ni, 539ppm Co, 0.72% Cu, 94ppb Pt+Pd from 135m 1m at 3.16% Ni, 662ppm Co, 385ppm Cu, 0.18g/t Pt+Pd from 192m • MTRC046: 4m at 1.14% Ni, 501ppm Co, 803ppm Cu, 0.14g/t Pt+Pd from 224m 5m at 1.92% Ni, 711ppm Co, 0.21% Cu, 0.18g/t Pt+Pd from 283m • MTRC055: 4m at 1.16% Ni, 345ppm Co, 0.13% Cu, 6ppb Pt+Pd from 182m inc. 1m @ 2.46% Ni, 641ppm Co, 0.43% Cu, 18ppb Pt+Pd from 183m ASX:WMG Western Mines Group Company Presentation, November 2024 11 SHALLOW HIGH-GRADE RESULTS IN RC DRILLING PODS OF HIGH-GRADE MATERIAL WITHIN A LARGE OPEN PIT • Targeting areas of higher grade “starter pit” material >0.40% Ni to improve economics of a large-scale project • 23 intersections of high-grade intervals >1% Ni within shallow RC holes • Still wide spaced 200m x 200m drilling • 9 high-grade clusters warrant follow-up infill drilling • May not have even yet drilled the best areas of the Complex – further RC drilling in south and southwestern quadrants required ASX:WMG Western Mines Group Company Presentation, November 2024 12 WHAT LIES AT DEPTH WITHIN THIS EXTENSIVE SULPHIDE SYSTEM? THERE’S A MONSTER HIDING SOMEWHERE • Intersections of “cloud” sulphide potentially vectoring towards sulphide enriched keel and/or feeder vent: • MTD023: 88m at 0.44% Ni, 151ppm Co from 1,212m • MTD027: 96m at 0.40% Ni, 161ppm Co from 1,208m inc. 38m at 0.56% Ni, 159ppm Co from 1,262m inc. 8m at 1.11% Ni, 181ppm Co from 1,270m • MTD028: 140m at 0.49% Ni, 161ppm Co from 874m inc. 82m at 0.55% Ni, 173ppm Co from 886m • MobileMT survey – deep resistivity mapping highlights conductive target within overall resistive dunite body • Further $220,000 EIS grant to co-fund deep diamond hole targeting sulphide enriched keel of the Complex ASX:WMG Western Mines Group Company Presentation, November 2024 13 AND COULD BE KAMBALDA – PROSPECTIVE UNEXPLORED KOMATIITE CHANNELS FERTILE KOMATIITE CHANNELS EXTEND 15KM • Komatiite sequence with A-B zones logged in the Panhandle • Evidence of prospective high-grade mineralisation: • MTD006: 0.25m at 3.8% Ni, 0.7% Cu and 0.7g/t PGE from 221.6m • MTD016: 0.3m at 1.57% Ni, 0.13% Cu and 0.12g/t Pt+Pd from 281.9m • 15km strike of interpreted channels completely unexplored – waiting grant E39/2299 • Completed belt-wide MobileMT survey – further geophysics planned • Recently drilled first regional RC holes with aid of EIS grant – sulphides in komatiite observed ~5km from main body of Complex CONFIRMED GEOLOGICAL INTERPRETATION AND BELT-SCALE MINERAL SYSTEM ASX:WMG Western Mines Group Company Presentation, November 2024 14 EXCITING DISCOVERY OPPORTUNITY EXPLORATION PHILOSOPHY • We believe multiple significant nickel deposits will be found at Mulga Tank • We strive to do high-quality technical exploration work • We are frugal with overheads to maximise exploration spend and minimise equity dilution • We want to change shareholders lives through share price increase not be a lifestyle • We offer a compelling risk vs reward and leverage to exploration success FOR FURTHER INFORMATION PLEASE CONTACT: Dr Caedmon Marriott Managing Director Western Mines Group Ltd FOLLOW US Email: contact@westernmines.com.au Tel: +61 475 116 798 @westernmines Western Mines Group This announcement has been authorised for release to the ASX by the Board of Western Mines Group Ltd Refer to Western Mines Group Ltd ASX Announcements (slide 3) for relevant disclosures, no material changes to previously disclosed information ASX:WMG Western Mines Group Company Presentation, November 2024 ASX: WMG www.westernmines.com.au 15