Westgold is focused on the development and recommencement of production at the Central Murchison Gold Project (CMGP) in the Murchison Goldfield of Western Australia. With a current combined Total Identified Mineral Resource (JORC) Estimate of 2.7M ounces the Company’s strategy is to develop a centralised multi mine gold operation targeting 100,000 ounces over a 10 year period. The CMGP has a long history of production with 5M ounces of gold being produced since it was first discovered in the late 1890’s. Consisting of three proven goldfields, Murchison Bell, Day Dawn and Cuddingwarra the CMGP encapsulates approx. 33,000 hectares of some of the most prospective greenstone geology of the Murchison District.

The Murchison District is proven to host multiple +1M ounce deposits and the CMGP contains two such gold deposits. The Big Bell Mine has a historic production of 2.5M ounces and the Great Fingall Mine has a historic production of 1.2M ounces at an average grade of 19.8g/t gold. Most of the mining in the area ceased in 2003 at far lower gold prices (circa $600 per ounce) than seen today thus providing Aragon with a unique opportunity to recommence mining.

____________

(*- denotes underground resources)

Westgold's strategic plan is to re-start mining operation with production targeting 100,000Z for the 10 years from a number of underground and open pit mines across the CMGP.

Note 1 - Great Fingal JV Claim

There is a 49% joint venture interest claim over the Great Fingall deeps from 500 metres below surface. The current total resource included in this area is approximately 927,000 tonnes @ 9.1g/t Au for 271,000 ounces.  The current total Probable Ore Reserve included in this area is approximately 502,000 tonnes @ 6.6g/t Au for 107,000 ounces. 

Note 2 - Exploration and Production Targets

The information that relates to exploration and production targets refers to targets that are conceptual in nature, where there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. The information on exploration targets in this presentation are based on a conceptual range of targets as follows: Tonnage range: 700,000 to 1,000,000 tonnes Grade range: 6 g/t Au to 10 g/t Au Ounces: 100,000 to 300,000.

Competent Person Statement

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Jake Russell B.Sc. (Hons), who is a Member of the Australian Institute of Geoscientists. Mr Russell is a full-time employee of the company. Mr Russell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Russell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Ore Reserves is based on information compiled under the direction of Mr. Paul Hucker B. Eng (Hons), who is a Member of the AusIMM. Mr Hucker is a full-time employee of the company. Mr Hucker has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Hucker consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
 

Updated March 2011