Announcement PDF Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Announcement Summary Entity name WESTERN MINES GROUP LTD Date of this announcement Wednesday November 22, 2023 The +securities the subject of this notification are: Other Total number of +securities to be issued/transferred ASX +security code New class - code to be confirmed Security description Unlisted Options Refer to next page for full details of the announcement Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 1/7 Total number of +securities to be issued/transferred Issue date 200,000 22/11/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 1 - Entity and announcement details 1.1 Name of entity WESTERN MINES GROUP LTD We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities. 1.2 Registered number type Registration number ACN 640738834 1.3 ASX issuer code WMG 1.4 The announcement is New announcement 1.5 Date of this announcement 22/11/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 2/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 2 - Issue details 2.1 The +securities the subject of this notification are: Other Please specify Unlisted Options 2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which: does not have an existing ASX security code ("new class") Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 3/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B New +securities ASX +security code +Security description New class - code to be confirmed Unlisted Options +Security type ISIN code Options Date the +securities the subject of this notification were issued 22/11/2023 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. https://wcsecure.weblink.com.au/pdf/WMG/02728161.pdf Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.60000000 22/11/2026 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description Unlisted Options Any other information the entity wishes to provide about the +securities the subject of this notification Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 4/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B Options being issued pursuant to approval by shareholders at the Annual General Meeting held on 21 November 2023 refer Appendix 3B lodged on 5 October 2023 Issue details Number of +securities 200,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Unlisted options are being issued as part payment under the terms of an acquisition agreement whereby the Company agreed to purchase Exploration Licence E39/2134 from Dynamic Metals Ltd. Purpose of the issue To pay for the acquisition of an asset Additional Details Name of company or asset being acquired Dynamic Metals Limited. Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 5/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 4 - +Securities on issue Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise: (A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.) 4.1 Quoted +Securities (Total number of each +class of +securities quoted) Total number of +securities on issue ASX +security code and description WMG : ORDINARY FULLY PAID 66,706,546 4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX) Total number of +securities on issue ASX +security code and description WMGAF : OPTION EXPIRING 11-NOV-2024 EX $0.30 466,670 WMGAD : OPTION EXPIRING 15-JUL-2024 EX $0.30 1,750,000 WMGAE : OPTION EXPIRING 15-JUL-2025 EX $0.30 16,000,000 WMGAI : OPTION EXPIRING 21-FEB-2025 EX $0.30 500,000 WMGAK : OPTION EXPIRING 15-JUL-2025 EX $0.30 1,000,000 WMGAJ : PERFORMANCE RIGHTS 2,050,000 New class - code to be confirmed : Unlisted Options Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 200,000 6/7 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities Part 5 - Other Listing Rule requirements 5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No 5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes 5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 21/11/2023 Notification of Issue, Conversion or Payment up of Unquoted Equity Securities 7/7