Announcement PDF ASX:WMG www.westernmines.com.au 1 Western Mines Group Ltd Unit 10 448 Roberts Road Subiaco WA 6008 HIGHLIGHTS • Geochemical assay results received for Phase 5 RC holes MTRC076 to MTRC094 at Mulga Tank • All holes showed broad zones of nickel sulphide mineralisation - elevated Ni and S coincident with anomalous Cu and PGE - with best results in: MTRC078 Cumulative 182m at 0.30% Ni, 131ppm Co, 147ppm Cu, 16ppb Pt+Pd with S:Ni 0.9* MTRC080 235m at 0.28% Ni, 134ppm Co, 228ppm Cu, 32ppb Pt+Pd from 83m S:Ni 1.3* MTRC082 213m at 0.28% Ni, 128ppm Co, 96ppm Cu, 17ppb Pt+Pd from 87m S:Ni 1.1* MTRC090 186m at 0.30% Ni, 145ppm Co, 101ppm Cu, 28ppb Pt+Pd from 109m S:Ni 1.5 MTRC091 Cumulative 172m at 0.29% Ni, 143ppm Co, 92ppm Cu, 19ppb Pt+Pd with S:Ni 0.9* MTRC092 219m at 0.26% Ni, 126ppm Co, 71ppm Cu, 12ppb Pt+Pd from 81m S:Ni 1.1* • Further shallow higher grade results up to 2.26% Ni, 0.35% Cu: MTRC078 4m at 0.85% Ni, 374ppm Co, 0.21% Cu, 21ppb Pt+Pd from 293m inc. 1m at 2.26% Ni, 0.10% Co, 0.35% Cu, 68ppb Pt+Pd from 295m MTRC080 17m at 0.43% Ni, 176ppm Co, 385ppm Cu, 75ppb Pt+Pd from 177m inc. 2m at 0.94% Ni, 377ppm Co, 0.20% Cu, 0.16g/t Pt+Pd from 192m MTRC089 6m at 0.52% Ni, 228ppm Co, 76ppm Cu, 64ppb Pt+Pd from 198m 1m at 1.08% Ni, 497ppm Co, 0.1% Cu, 25ppb Pt+Pd from 223m MTRC091 5m at 0.77% Ni, 316ppm Co, 352ppm Cu, 57ppb Pt+Pd from 104m that inc. 2m at 1.29% Ni, 520ppm Co, 550ppm Cu, 0.1g/t Pt+Pd from 107m • Assay results for diamond tail MTRC001 on the western margin: MTRC001 Cumulative 442m at 0.26% Ni, 129ppm Co, 78ppm Cu, 27ppb Pt+Pd with S:Ni 1.4 • Phase 4 and 5 results included in updated Mineral Resource Estimate after quarter end +35% increase in Total Tonnes, +98% increase in Indicated Tonnes and +18% increase in Total Tonnes above 0.32% Ni cut-off • Globally significant, large-scale, open-pit able nickel sulphide deposit defined at 0.20% Ni cut-off: Indicated 1,121Mt at 0.28% Ni, 133ppm Co, 90ppm Cu, 19ppb Pt+Pd with S:Ni 1.0 Inferred 1,526Mt at 0.27% Ni, 130ppm Co, 68ppm Cu, 19ppb Pt+Pd with S:Ni 0.9 Total Resource 2,647Mt at 0.27% Ni, 131ppm Co, 77ppm Cu, 19ppb Pt+Pd with S:Ni 1.0 • Total Resource contained metal of 7.2Mt Ni, 347kt Co, 205kt Cu, 1.6Moz Pt+Pd • Capital raise of $2.74m with Lowell Resources Fund investing $2m and becoming WMG’s largest shareholder • Quarterly Shareholder Question and Answer Webinar - Thursday 5 November QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 ASX RELEASE 30 OCTOBER 2026 Telephone: +61 475 116 798 Email: contact@westernmines.com.au Shares on Issue: 130.37m Share Price: $0.14 Market Cap: $18.25 Cash: $1.03m (30/09/26) Western Mines Group Ltd (WMG or Company) (ASX:WMG) is pleased to provide shareholders with the following Quarterly Activities Report, and accompanying Appendix 5B, for what has been another productive quarter for the Company. WMG completed the Phase 5 drilling program at the flagship Mulga Tank Ni-Co-Cu-PGE Project, which included both further reverse circulation (RC) and diamond drilling. Assay results were received for RC holes MTRC076 to MTRC094 and deep diamond tail MTRC001 (ASX, Further High-Grade Results up to 2.26% Ni 0.35% Cu, 21 July 2026; First Phase 5 Assay Results from Mulga Tank, 24 August 2026; Basal Target Zone Along Mulga Tank Western Margin; 21 September 2026; Final Phase 5 RC Assay Results from Mulga Tank; 6 October 2026). Results from all nineteen RC holes highlighted broad intersections of nickel sulphide mineralisation with visually logged disseminated nickel sulphide mineralisation coinciding with assay results showing elevated Ni and S, in combination with anomalous Cu and PGE: MTRC076 200m at 0.28% Ni, 128ppm Co, 102ppm Cu, 16ppb Pt+Pd from 116m S:Ni 0.9* MTRC077 201.9m at 0.25% Ni, 133ppm Co, 144ppm Cu, 16ppb Pt+Pd from 107m S:Ni 1.7* MTRC078 Cumulative 182m at 0.30% Ni, 131ppm Co, 147ppm Cu, 16ppb Pt+Pd with S:Ni 0.9* MTRC079 Cumulative 146m at 0.27% Ni, 124ppm Co, 66ppm Cu, 12ppb Pt+Pd with S:Ni 1.2* MTRC080 235m at 0.28% Ni, 134ppm Co, 228ppm Cu, 32ppb Pt+Pd from 83m S:Ni 1.3* MTRC081 Cumulative 154m at 0.29% Ni, 131ppm Co, 65ppm Cu, 20ppb Pt+Pd with S:Ni 0.8* MTRC082 213m at 0.28% Ni, 128ppm Co, 96ppm Cu, 17ppb Pt+Pd from 87m S:Ni 1.1* MTRC083 Cumulative 171m at 0.30% Ni, 134ppm Co, 57ppm Cu, 30ppb Pt+Pd with S:Ni 0.8* MTRC084 Cumulative 79m at 0.29% Ni, 113ppm Co, 34ppm Cu, 53ppb Pt+Pd with S:Ni 0.5 MTRC085 Cumulative 169m at 0.26% Ni, 125ppm Co, 54ppm Cu, 24ppb Pt+Pd with S:Ni 1.2 MTRC086 Cumulative 124m at 0.29% Ni, 115ppm Co, 11ppm Cu, 6ppb Pt+Pd with S:Ni 0.5* MTRC087 Cumulative 98m at 0.21% Ni, 117ppm Co, 74ppm Cu, 20ppb Pt+Pd with S:Ni 1.9* MTRC088 Cumulative 129m at 0.28% Ni, 132ppm Co, 40ppm Cu, 28ppb Pt+Pd with S:Ni 0.6* MTRC089 Cumulative 169m at 0.29% Ni, 127ppm Co, 21ppm Cu, 7ppb Pt+Pd with S:Ni 0.6* MTRC090 186m at 0.30% Ni, 145ppm Co, 101ppm Cu, 28ppb Pt+Pd from 109m S:Ni 1.5 MTRC091 Cumulative 172m at 0.29% Ni, 143ppm Co, 92ppm Cu, 19ppb Pt+Pd with S:Ni 0.9* MTRC092 219m at 0.27% Ni, 126ppm Co, 71ppm Cu, 12ppb Pt+Pd from 81m S:Ni 1.1* MTRC093 Cumulative 155m at 0.27% Ni, 132ppm Co, 46ppm Cu, 41ppb Pt+Pd with S:Ni 0.9* MTRC094 Cumulative 158m at 0.26% Ni, 131ppm Co, 47ppm Cu, 27ppb Pt+Pd with S:Ni 0.9 * Ending in mineralisation A number of the RC holes contained further intervals with shallow higher grade results up to 2.26% Ni: MTRC076 1m at 1.44% Ni, 664ppm Co, 0.55% Cu, 0.19g/t Pt+Pd from 151m MTRC078 4m at 0.85% Ni, 374ppm Co, 0.21% Cu, 21ppb Pt+Pd from 293m inc. 1m at 2.26% Ni, 0.10% Co, 0.35% Cu, 68ppb Pt+Pd from 295m MTRC080 17m at 0.43% Ni, 176ppm Co, 385ppm Cu, 75ppb Pt+Pd from 177m inc. 2m at 0.94% Ni, 377ppm Co, 0.20% Cu, 0.16g/t Pt+Pd from 192m MTRC089 6m at 0.52% Ni, 228ppm Co, 76ppm Cu, 64ppb Pt+Pd from 198m 1m at 1.08% Ni, 497ppm Co, 0.1% Cu, 25ppb Pt+Pd from 223m ASX:WMG www.westernmines.com.au 2 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 MTRC091 5m at 0.77% Ni, 316ppm Co, 352ppm Cu, 57ppb Pt+Pd from 104m that inc. 2m at 1.29% Ni, 520ppm Co, 550ppm Cu, 0.1g/t Pt+Pd from 107m Assay results were also received for deep diamond tail MTRC001 showing the now familiar geochemical signature of the basal portion of the Complex with broad intersections of disseminated nickel mineralisation with elevated Ni and S, in combination with anomalous Cu and PGE, divided by two horizons of barren unmineralised dunite lacking S, Cu and PGE: MTRC001 Cumulative 442m at 0.26% Ni, 129ppm Co, 78ppm Cu, 27ppb Pt+Pd with S:Ni 1.4 After the end of the quarter the Company incorporated all the results from the Phase 4 and 5 drilling into a new Mineral Resources Estimate (JORC 2012). The Company’s internal modelling work was reviewed by independent consultants ERM. The Mineral Resource Estimate using a 0.20% Ni cut-off grade is: Total Resource 2,647 Mt grading 0.27% Ni, 131ppm Co, 77ppm Cu, 19ppb Pt+Pd S:Ni 1.0 Of which: Indicated 1,121 Mt grading 0.28% Ni, 133ppm Co, 90ppm Cu, 19ppb Pt+Pd S:Ni 1.0 Inferred 1,526 Mt grading 0.27% Ni, 130ppm Co, 68ppm Cu, 19ppb Pt+Pd S:Ni 0.9 With contained metal within the Total Resource of: 7.2Mt Ni, 347kt Co, 205kt Cu and 1.6Moz Pt + Pd The updated Mineral Resource Estimate represents a significant increase from the initial April 2025 estimate (ASX, Mulga Tank Mineral Resource over 5Mt Contained Nickel, 10 April 2025) and shows: • +35% increase in Total Resource Tonnes and Total Contained Nickel Metal • +98% increase in Indicated Resource Tonnes and Indicated Contained Nickel Metal • +18% increase in Total Resource Tonnes above 0.32% Ni cut-off At the beginning the period the Company announced a capital raise of $2.74m with commitments received to issue 16,822,694 fully paid ordinary shares, at an issue price of $0.163 per share (ASX, Capital Raise to New Cornerstone Investor, 29 July 2026). The placement was led by Lowell Resources Fund (ASX:LRT) subscribing for a total of 12,269,938 shares and becoming the Company’s new largest shareholder at 10.6%. A further 4,352,756 shares were placed by the Company to professional investors and current Top 20 shareholders, including previous largest shareholder Equentia Natural Resources maintaining their interest in the Company. The Company will host a Quarterly Shareholder Question and Answer Webinar on Thursday 5 November, offering an update on our exploration activities at Mulga Tank and answering any questions shareholders may have. Register for the webinar through our InvestorHub. ASX:WMG www.westernmines.com.au 3 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 PROJECTS MULGA TANK The Mulga Tank Project comprises exploration licences E39/2132, E39/2134 and E39/2223 and exploration licence applications E39/2299, E39/2609 and E39/2610, covering the Minigwal Greenstone Belt, 190km east- northeast of Kalgoorlie. The Minigwal Greenstone Belt is a NNW trending linear sequence of predominantly mafic and ultramafic lithologies; it is very under explored due to the presence of shallow sand cover and presents a “frontier” exploration opportunity for major Ni-Co-Cu-PGE and orogenic gold deposits. Exploration results from the Company’s various drilling programs at the Mulga Tank Project have demonstrated significant nickel sulphide mineralisation and an extensive nickel sulphide mineral system within the Mulga Tank Ultramafic Complex. WMG has undertaken a combination of both diamond and reverse circulation (RC) drilling. With this two pronged approach, RC is used to infill and prove up the extent of shallow disseminated nickel sulphide mineralisation, defined by the Company’s recently updated Mineral Resource Estimate (ASX, Mulga Tank Mineral Resource Over 7Mt Contained Nickel, 26 October 2026), whilst the diamond drilling program continues to test deeper targets for basal massive sulphide. ASX:WMG www.westernmines.com.au 4 Figure 1: Map of WMG project locations ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 PHASE 5 DRILLING RESULTS During the previous quarter the Company completed 20 holes as part of the Phase 5 drilling program. These included a deep diamond tail to previous RC hole MTRC001 and 19 further RC holes MTRC076 to MTRC094, two of these holes MTRC076 and MTRC077 were drilled as RC pre-collars to ~100m and shallow diamond tails to 316m. Geochemical assay results for these holes were received during the period: MTRC076 200m at 0.28% Ni, 128ppm Co, 102ppm Cu, 16ppb Pt+Pd from 116m S:Ni 0.9* MTRC077 201.9m at 0.25% Ni, 133ppm Co, 144ppm Cu, 16ppb Pt+Pd from 107m S:Ni 1.7* MTRC078 Cumulative 182m at 0.30% Ni, 131ppm Co, 147ppm Cu, 16ppb Pt+Pd with S:Ni 0.9* MTRC079 Cumulative 146m at 0.27% Ni, 124ppm Co, 66ppm Cu, 12ppb Pt+Pd with S:Ni 1.2* MTRC080 235m at 0.28% Ni, 134ppm Co, 228ppm Cu, 32ppb Pt+Pd from 83m S:Ni 1.3* MTRC081 Cumulative 154m at 0.29% Ni, 131ppm Co, 65ppm Cu, 20ppb Pt+Pd with S:Ni 0.8* MTRC082 213m at 0.28% Ni, 128ppm Co, 96ppm Cu, 17ppb Pt+Pd from 87m S:Ni 1.1* MTRC083 Cumulative 171m at 0.30% Ni, 134ppm Co, 57ppm Cu, 30ppb Pt+Pd with S:Ni 0.8* MTRC084 Cumulative 79m at 0.29% Ni, 113ppm Co, 34ppm Cu, 53ppb Pt+Pd with S:Ni 0.5 MTRC085 Cumulative 169m at 0.26% Ni, 125ppm Co, 54ppm Cu, 24ppb Pt+Pd with S:Ni 1.2 MTRC086 Cumulative 124m at 0.29% Ni, 115ppm Co, 11ppm Cu, 6ppb Pt+Pd with S:Ni 0.5* MTRC087 Cumulative 98m at 0.21% Ni, 117ppm Co, 74ppm Cu, 20ppb Pt+Pd with S:Ni 1.9* MTRC088 Cumulative 129m at 0.28% Ni, 132ppm Co, 40ppm Cu, 28ppb Pt+Pd with S:Ni 0.6* MTRC089 Cumulative 169m at 0.29% Ni, 127ppm Co, 21ppm Cu, 7ppb Pt+Pd with S:Ni 0.6* MTRC090 186m at 0.30% Ni, 145ppm Co, 101ppm Cu, 28ppb Pt+Pd from 109m S:Ni 1.5 MTRC091 Cumulative 172m at 0.29% Ni, 143ppm Co, 92ppm Cu, 19ppb Pt+Pd with S:Ni 0.9* MTRC092 219m at 0.27% Ni, 126ppm Co, 71ppm Cu, 12ppb Pt+Pd from 81m S:Ni 1.1* MTRC093 Cumulative 155m at 0.27% Ni, 132ppm Co, 46ppm Cu, 41ppb Pt+Pd with S:Ni 0.9* MTRC094 Cumulative 158m at 0.26% Ni, 131ppm Co, 47ppm Cu, 27ppb Pt+Pd with S:Ni 0.9 * Ending in mineralisation A number of the holes showed better mineralisation including further shallow higher grade results: MTRC076 200m at 0.28% Ni, 128ppm Co, 102ppm Cu, 16ppb Pt+Pd from 116m S:Ni 0.9* inc. 5m at 0.39% Ni, 162ppm Co, 240ppm Cu, 27ppb Pt+Pd from 122m and inc. 1m at 0.56% Ni, 223ppm Co, 0.14% Cu, 0.47g/t Pt+Pd from 138m and inc. 1m at 1.44% Ni, 664ppm Co, 0.55% Cu, 0.19g/t Pt+Pd from 151m and inc. 1m at 0.36% Ni, 155ppm Co, 0.12% Cu, 0.19g/t Pt+Pd from 159m and inc. 8m at 0.34% Ni, 149ppm Co, 49ppm Cu, 21ppb Pt+Pd from 257m and inc. 7m at 0.37% Ni, 141ppm Co, 38ppm Cu, 11ppb Pt+Pd from 282m and inc. 1m at 0.64% Ni, 277ppm Co, 0.16% Cu, 0.11g/t Pt+Pd from 306m ASX:WMG www.westernmines.com.au 5 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 MTRC078 153m at 0.29% Ni, 122ppm Co, 70ppm Cu, 15ppb Pt+Pd from 104m inc. 9m at 0.38% Ni, 155ppm Co, 191ppm Cu, 36ppb Pt+Pd from 107m 29m at 0.33% Ni, 176ppm Co, 561ppm Cu, 21ppb Pt+Pd from 289m* inc. 4m at 0.85% Ni, 374ppm Co, 0.21% Cu, 21ppb Pt+Pd from 293m that inc. 1m at 2.26% Ni, 0.10% Co, 0.35% Cu, 68ppb Pt+Pd from 295m and inc. 3m at 0.42% Ni, 197ppm Co, 392ppm Cu, 21ppb Pt+Pd from 311m Cumulative 182m at 0.30% Ni, 131ppm Co, 147ppm Cu, 16ppb Pt+Pd with S:Ni 0.9* MTRC080 235m at 0.28% Ni, 134ppm Co, 228ppm Cu, 32ppb Pt+Pd from 83m S:Ni 1.3* inc. 10m at 0.57% Ni, 148ppm Co, 184ppm Cu, 0.20g/t Pt+Pd from 84m and inc. 9m at 0.44% Ni, 180ppm Co, 353ppm Cu, 0.12g/t Pt+Pd from 105m and inc. 1m at 0.52% Ni, 331ppm Co, 0.30% Cu, 56ppb Pt+Pd from 145m and inc. 3m at 0.47% Ni, 270ppm Co, 885ppm Cu, 61ppb Pt+Pd from 150m and inc. 7m at 0.41% Ni, 171ppm Co, 299ppm Cu, 39ppb Pt+Pd from 163m and inc. 17m at 0.43% Ni, 176ppm Co, 385ppm Cu, 75ppb Pt+Pd from 177m that inc. 2m at 0.94% Ni, 377ppm Co, 0.20% Cu, 0.16g/t Pt+Pd from 192m MTRC089 19m at 0.24% Ni, 134ppm Co, 35ppm Cu, 32ppb Pt+Pd from 111m 23m at 0.28% Ni, 115ppm Co, 9ppm Cu, 0ppb Pt+Pd from 140m 127m at 0.29% Ni, 128ppm Co, 21ppm Cu, 5ppb Pt+Pd from 173m* inc. 6m at 0.52% Ni, 228ppm Co, 76ppm Cu, 64ppb Pt+Pd from 198m and inc. 1m at 1.08% Ni, 497ppm Co, 0.1% Cu, 25ppb Pt+Pd from 223m Cumulative 169m at 0.29% Ni, 127ppm Co, 21ppm Cu, 7ppb Pt+Pd with S:Ni 0.6* MTRC090 186m at 0.30% Ni, 145ppm Co, 101ppm Cu, 28ppb Pt+Pd from 109m S:Ni 1.5 inc. 3m at 0.41% Ni, 238ppm Co, 576ppm Cu, 26ppb Pt+Pd from 135m and inc. 10m at 0.50% Ni, 191ppm Co, 208ppm Cu, 76ppb Pt+Pd from 157m and inc. 4m at 0.42% Ni, 233ppm Co, 366ppm Cu, 80ppb Pt+Pd from 180m and inc. 3m at 0.42% Ni, 191ppm Co, 191ppm Cu, 52ppb Pt+Pd from 198m and inc. 28m at 0.37% Ni, 142ppm Co, 93ppm Cu, 36ppb Pt+Pd from 207m and inc. 20m at 0.36% Ni, 157ppm Co, 108ppm Cu, 23ppb Pt+Pd from 242m and inc. 5m at 0.43% Ni, 188ppm Co, 154ppm Cu, 34ppb Pt+Pd from 282m MTRC091 113m at 0.31% Ni, 146ppm Co, 99ppm Cu, 21ppb Pt+Pd from 104m inc. 5m at 0.77% Ni, 316ppm Co, 352ppm Cu, 57ppb Pt+Pd from 104m that inc. 2m at 1.29% Ni, 520ppm Co, 550ppm Cu, 0.1g/t Pt+Pd from 107m and inc. 2m at 0.50% Ni, 229ppm Co, 0.1% Cu, 21ppb Pt+Pd from 138m and inc. 1m at 0.49% Ni, 191ppm Co, 0.11% Cu, 21ppb Pt+Pd from 144m and inc. 2m at 0.33% Ni, 146ppm Co, 30ppm Cu, 0.56g/t Pt+Pd from 194m and inc. 1m at 1.24% Ni, 525ppm Co, 295ppm Cu, 0.15g/t Pt+Pd from 214m 59m at 0.26% Ni, 137ppm Co, 79ppm Cu, 15ppb Pt+Pd from 241m* inc. 9m at 0.46% Ni, 160ppm Co, 104ppm Cu, 27ppb Pt+Pd from 246m Cumulative 172m at 0.29% Ni, 143ppm Co, 92ppm Cu, 19ppb Pt+Pd with S:Ni 0.9* ASX:WMG www.westernmines.com.au 6 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 HOLE MTRC001 DIAMOND TAIL Hole MTRC001 was drilled in September 2023 as part of the westernmost fence of the Company’s Phase 1 RC program (along with holes MTRC010, MTRC011 and MTRC012). The hole is located ~600m S of hole MTRC011, which itself was ~400m SW of MTD028. Hole MTD028 returned an intersection of 140m at 0.49% Ni from 874m, including 82m at 0.55% Ni from 886m, in a zone of possible Perseverance-like “cloud sulphide”, containing multiple high-grade sulphide segregations, above the basal contact (ASX, MTD028 Disseminated Nickel Sulphide 140m at 0.49% Ni, 31 October 2023). MTRC011 diamond tail aimed to step out from hole MTD028 (ASX, MTRC011 128m at 0.39% Ni inc. 36m at 0.50% Ni, 5 February 2026) whilst the diamond tail to MTRC001 looked to further test the basal contact of the Complex up-dip from MTD028 and MTRC011. The MTRC001 diamond tail extension was drilled from 444m to a total depth of 895.1m and intersected ~410m of variably serpentinised and talc-carbonate altered high MgO adcumulate dunite ultramafic (444-855.5m), before encountering a footwall of basalt and silicified shales at 855.5m depth (855.5-895.1m). Disseminated magmatic sulphides (trace to 2%) were observed at numerous intervals down the hole. In a number of places the disseminated sulphides coalesce into interstitial blebs (3 to 5% sulphide) between former olivine crystals. ASX:WMG www.westernmines.com.au 7 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 Figure 2: WMG Phase 5 RC geochemical assay results Combined with previous RC sample assays (ASX, First RC Assays Show Broad Zones of Mineralisation, 14 November 2023) the results for the hole showed the familiar geochemical signature of the basal portion of the Complex with broad intersections of disseminated nickel mineralisation with elevated Ni and S, in combination with anomalous Cu and PGE, divided by two horizons of barren unmineralised dunite lacking S, Cu and PGE: MTRC001 163m at 0.20% Ni, 123ppm Co, 80ppm Cu, 19ppb Pt+Pd from 94m 29m at 0.42% Ni, 138ppm Co, 85ppm Cu, 17ppb Pt+Pd from 344m 74m at 0.28% Ni, 138ppm Co, 63ppm Cu, 63ppb Pt+Pd from 382m inc. 2m at 0.43% Ni, 145ppm Co, 54ppm Cu, 22ppb Pt+Pd from 382m and inc. 5m at 0.48% Ni, 166ppm Co, 178ppm Cu, 21ppb Pt+Pd from 410m and inc. 14m at 0.41% Ni, 150ppm Co, 69ppm Cu, 0.15g/t Pt+Pd from 442m 23m at 0.35% Ni, 130ppm Co, 17ppm Cu, 4ppm Pt+Pd from 629m 79m at 0.23% Ni, 115ppm Co, 69ppm Cu, 18ppb Pt+Pd from 675m inc. 7m at 0.37% Ni, 150ppm Co, 57ppm Cu, 8ppb Pt+Pd from 677m and inc. 6m at 0.40% Ni, 161ppm Co, 122ppm Cu, 45ppb Pt+Pd from 734m 74m at 0.32% Ni, 142ppm Co, 115ppm Cu, 31ppb Pt+Pd from 762m inc. 23m at 0.42% Ni, 144ppm Co, 74ppm Cu, 44ppb Pt+Pd from 812m Cumulative 442m at 0.26% Ni, 129ppm Co, 78ppm Cu, 27ppb Pt+Pd with S:Ni 1.4 ASX:WMG www.westernmines.com.au 8 Figure 3: WMG deep diamond holes intersecting the basal contact of the Mulga Tank Complex ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 UPDATED MINERAL RESOURCE ESTIMATE After the quarter end the Company reported an updated Mineral Resource Estimate for Mulga Tank (ASX, Mulga Tank Mineral Resource over 7Mt Contained Nickel, 26 October 2026). The 32 holes from the recent Phase 4 and Phase 5 drilling were incorporated into the Company’s previous resource modelling (ASX, Mulga Tank Mineral Resource over 5Mt Contained Nickel, 10 April 2025). The Company’s internal modelling work was reviewed by independent consultants ERM. The Mineral Resource Estimate using a 0.20% Ni cut-off grade is: Total Resource 2,647 Mt grading 0.27% Ni, 131ppm Co, 77ppm Cu, 19ppb Pt+Pd S:Ni 1.0 Of which: Indicated 1,121 Mt grading 0.28% Ni, 133ppm Co, 90ppm Cu, 19ppb Pt+Pd S:Ni 1.0 Inferred 1,526 Mt grading 0.27% Ni, 130ppm Co, 68ppm Cu, 19ppb Pt+Pd S:Ni 0.9 With contained metal within the Total Resource of: 7.2Mt Ni, 347kt Co, 205kt Cu and 1.6Moz Pt + Pd The updated Mineral Resource Estimate represents a significant increase from the initial April 2025 estimate and shows: • +35% increase in Total Resource Tonnes and Total Contained Nickel Metal • +98% increase in Indicated Resource Tonnes and Indicated Contained Nickel Metal • +18% increase in Total Resource Tonnes above 0.32% Ni cut-off ASX:WMG www.westernmines.com.au 9 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 Ni Cut Off (%) Category Tonnes (Mt) Ni (%) Co (ppm) Cu (ppm) Pt+Pd (ppb) S (%) S:Ni 0.16 Indicated 1,134 0.27 133 91 19 0.29 1.1 Inferred 1,551 0.27 129 68 19 0.26 1.0 Total 2,685 0.27 131 78 19 0.27 1.0 0.20 Indicated 1,121 0.28 133 90 19 0.29 1.0 Inferred 1,526 0.27 130 68 19 0.26 1.0 Total 2,647 0.27 131 77 19 0.27 1.0 0.24 Indicated 989 0.28 134 91 19 0.29 1.0 Inferred 1,300 0.28 130 69 19 0.25 0.9 Total 2,289 0.28 132 78 19 0.27 1.0 0.28 Indicated 481 0.30 139 108 21 0.29 1.0 Inferred 516 0.30 134 76 21 0.26 0.9 Total 997 0.30 136 92 21 0.28 0.9 0.32 Indicated 78 0.34 153 194 28 0.41 1.2 Inferred 43 0.33 146 106 29 0.35 1.1 Total 121 0.34 151 163 28 0.39 1.1 Table 1: Mineral Resource Estimate at 0.20% Ni cut-off with Grade-Tonnes details Numbers may not add up due to rounding WMG believes the Mulga Tank October 2026 Mineral Resource further extends Mulga Tank as the largest nickel sulphide deposit in Australia and is very likely in the top 10 nickel sulphide resources in the world. Figure 1 below shows the largest nickel sulphide deposits in Australia in terms of total resources of contained nickel metal: ASX:WMG www.westernmines.com.au 10 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 Ni Cut Off (%) Category Contained Ni (Mt) Contained Co (kt) Contained Cu (kt) Contained Pt+Pd (koz) 0.16 Indicated 3.1 151 103 698 Indicated 4.1 201 106 952 Total 7.3 351 208 1,650 0.20 Indicated 3.1 149 101 690 Inferred 4.1 198 104 939 Total 7.2 347 205 1,629 0.24 Indicated 2.8 132 90 607 Inferred 3.6 169 89 804 Total 6.4 302 179 1,412 0.28 Indicated 1.5 67 52 321 Inferred 1.5 69 39 347 Total 3.0 136 91 667 0.32 Indicated 0.3 12 15 70 Inferred 0.1 6 5 40 Total 0.4 18 20 110 Table 2: Mineral Resource Estimate at 0.20% cut-off with Contained Metal details Numbers may not add up due to rounding Contained Nickel (Kt) 0 2,000 4,000 6,000 8,000 4: Largest nickel sulphide resources in Australia by total contained nickel metal (min. 100kt Ni) EIS SEISMIC SURVEY In the first half of the year, the Company was successful in its application for an EIS Venture 3 Co-Funded Geophysics grant and was awarded the maximum $250,000 of co-funding towards 50% of costs of an active seismic survey targeting the main body of the Mulga Tank Ultramafic Complex within tenement E39/2132 (ASX, WMG Wins $250,000 EIS Award for Mulga Tank Seismic Survey, 27 April 2026). The grant procedure is a competitive application process awarded to geophysical survey projects assessed against EIS criteria. The proposed ~100 line kilometre ~35km2 active seismic survey will be instrumental in visualising the 3D architecture of the Mulga Tank Ultramafic Complex and in particular mapping the prospective basal contact and possible feeder vent. The survey may even be able to directly detect the presence of significant massive sulphide accumulations, applying a Perseverance target model (>4m thickness). The seismic survey contractor mobilised to site during October and the survey is currently underway. ASX:WMG www.westernmines.com.au 11 Figure 5: WMG’s planned active seismic survey over the Mulga Tank Complex ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 JASPER HILL The Jasper Hill Project comprises exploration licences E39/2073, E39/2079 and prospecting licence P39/6267. The project is located approximately 80km southeast of Laverton and covers part of the poorly exposed Merolia Greenstone Belt, a NNW trending belt, up to 20km wide, that can be traced over 110km in a SSE direction from the Burtville Mining Centre. The project area is lightly explored, but is contiguous to the producing mines of Lord Byron and Fish owned by Brightstar Resources (ASX:BTR). Jasper Hill is the Company’s primary gold project containing a mineralised gold trend over 3km strike. The Company has previously completed various fieldwork campaigns involving involving geological mapping, high- resolution ground magnetic survey and ground gravity survey, soil and rock chip sampling, locating historical drill collars and registered aboriginal heritage sites. Data from a gravity survey completed during the previous quarter was processed during the period and previous soil samples were submitted for assay. ASX:WMG www.westernmines.com.au 12 Figure 6: WMG ground magnetic survey and significant historical drill intersections (E39/2073 and P39/6267) ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 FRASER RANGE The Fraser Range Project comprises tenement application E28/3570 covering approximately ~165km2 in the Fraser Range area of Western Australia, located ~300km east of Kalgoorlie and ~120km southeast of Mulga Tank. The exploration area was previously held by Legend Mining (ASX:LEG) in joint venture with Mark Creasy. The project area contains the Octagonal Intrusive Complex which was explored by Legend for Nova-Bollinger style magmatic nickel-copper sulphide. Between 2019 and 2024, Legend conducted multiple phases of exploration which included aircore, RC and diamond drilling, and airborne magnetic, MLEM, FLEM, DHEM, AMT, IP and 3D seismic geophysical surveys. Exploration results demonstrated a mineralised suite of mafic to ultramafic intrusives with a number of intersections of visible disseminated to semi-massive nickel-copper sulphides observed. No exploration activities have been conducted at Octagonal since mid-2024. ASX:WMG www.westernmines.com.au 13 Figure 7: Seismic survey and drill holes at the Octagonal Intrusion (source: Legend Mining) ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 MT NARRYER The Mt Narryer Project comprises tenement application E09/3048 covering approximately ~235km2 near Mt Narryer on the northwestern margin of the Yilgarn Craton, located ~240km northwest of Mount Magnet and ~250km northeast of Geraldton. The project area was previously held by Platina Resources (ASX:PGM), partly in joint venture with Chalice Mining (ASX:CHN) between 2023 and 2024 (ASX, Platina to Farm-Out Mt Narryer Project to Chalice Mining, 27 March 2023). Chalice is understood to have completed airborne magnetics, ground gravity and limited soil sampling spending approximately $350,000 of the initial $600,000 farm-in spend. Whilst some anomalous Ni-Co-Cu-PGE prospectivity was identified detailed results don’t appear to have been made public. The project area covers an interesting cratonic margin location that WMG considers could be prospective for magmatic nickel-copper sulphide mineral systems. ASX:WMG www.westernmines.com.au 14 Figure 8: Location of Mt Narryer tenement application E09/3048 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 YOUANMI The Youanmi Project comprises exploration licence E57/1119. The project is located 70km southwest of Sandstone and lies on the eastern side of the Youanmi Greenstone Belt, along the major Youanmi Shear. The tenement is located 7km from the historic Youanmi Gold Mining Centre, which has produced over 600,000oz of gold since its discovery in the late 1800’s, currently owned by Rox Resources (ASX:RXL) and Venus Metals (ASX:VMC). The area has seen a resurgence in exploration activity with the recent discovery of the high-grade Penny North (ASX:RMS) and Grace (ASX:RXL) deposits along the Youanmi Shear. The Company has undertaken various fieldwork campaigns involving field reconnaissance, ground magnetics and ground gravity targeting the historical Deep Well, and interesting structural displacement along the major Youanmi Shear. Data from a gravity survey completed during the previous quarter was processed during the period. For further information please contact: Dr Caedmon Marriott Managing Director Tel: +61 475 116 798 Email: contact@westernmines.com.au WMG Quarterly Shareholder Question and Answer Webinar https://investors.westernmines.com.au/webinars/PGqZle-wmg-quarterly-q-a-webinar-september-2026 Thursday 5 November 09:30 AWST Western Mines Group InvestorHub Investors are encouraged to join the Western Mines Group InvestorHub to receive news and updates, engage directly with the WMG team, and post questions and feedback through the Q&A function accompanying each piece of content. How to join: 1. Head to our InvestorHub 2. Follow the prompts to sign up for an InvestorHub account 3. Complete your account profile ASX:WMG www.westernmines.com.au 15 ASX RELEASE | QUARTERLY ACTIVITIES REPORT SEPTEMBER 2026 This announcement has been authorised for release to the ASX by the Board of Western Mines Group Ltd QUARTERLY ACTIVITY REPORTS BY MINING EXPLORATION ENTITIES ASX LISTING RULE 5.3 ASX LISTING RULE 5.3.1 - EXPLORATION ACTIVITIES Exploration and Evaluation during the quarter was $1,797,478 a significant increase from the previous quarter as the Company completed the Phase 5 drilling at Mulga Tank. Major items of expenditure included RC and diamond drilling, geochemical assays and work on the Mulga Tank Scoping Study. ASX LISTING RULE 5.3.2 - MINING PRODUCTION AND DEVELOPMENT ACTIVITIES No mining production of development activities during the quarter. ASX LISTING RULE 5.3.3 - TENEMENT TABLE Tenement Table: Tenements held at quarter end, all tenements located in Western Australia. Tenements relinquished during the quarter: None Tenements interests acquired during the quarter: E39/2609 and E39/2610 Farm-in or farm-out agreements entered into during the quarter: None Beneficial interests held in farm-in or farm-out agreements at end of quarter: N/A ASX LISTING RULE 5.3.5 - PAYMENTS TO RELATED PARTIES Payments to related parties of the entity and their associates are shown below: ASX:WMG www.westernmines.com.au 16 Tenement Holder Status Grant (Application) Expiry Area Interest E09/3048 Western Mines Group Ltd Application (16/12/25) - 77BL 100% E28/3570 Western Mines Group Ltd Application (03/11/25) - 56BL 100% E39/2073 Western Mines Group Ltd Granted 07/06/19 06/06/29 14BL 100% E39/2079 Western Mines Group Ltd Granted 28/07/21 27/07/31 11BL 100% E39/2132 Western Mines Group Ltd Granted 22/07/20 21/07/30 27BL 100% E39/2134 Western Mines Group Ltd Granted 13/08/21 12/08/31 10BL 100% E39/2223 Western Mines Group Ltd Granted 8/3/23 07/03/28 11BL 100% E39/2299 Western Mines Group Ltd Application (05/11/21) - 95BL 100% E39/2609 Western Mines Group Ltd Application (17/07/26) - 6BL 100