Announcement PDF ASX Announcement 16 September 2024 2024 MINERAL RESOURCE ESTIMATE AND ORE RESERVES Reserve and Resource growth by drilling and through merger Perth, Western Australia, 16 September 2024: Westgold Resources Limited (ASX: WGX, TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to provide its updated Mineral Resource Estimate and Ore Reserve Statement calculated as of 30 June 2024. Group Gold Mineral Resource Estimate and Ore Reserves On 30 June 2024 1 Total Mineral Resource Estimate 179Mt at 2.29g/t Au for 13.2Moz of gold Total Ore Reserves 50Mt at 2.05g/t Au for 3.3Moz of gold Highlights Investment in Murchison exploration in FY23 and FY24 has delivered the first increase in Ore Reserves post depletion since FY17. 60% increase in Group Mineral Resource Estimate from FY23 - now 13.2Moz post-merger and mining depletion (FY23 – 8Moz). 12% increase year on year in Mineral Resources of Murchison operating gold mines, including:  170% increase at Bluebird – South Junction to 960koz; and  41% increase at Starlight to 590koz. 69% increase in Group Ore Reserve Estimate from FY23 - now 3.3Moz postmerger and mining depletion. 10% increase year on year in the Ore Reserves of operating gold mines in the Murchison including:  133% increase at Bluebird – South Junction to 277koz. Nineteen drill rigs operating across the 3200km 2 portfolio 1 Southern Goldfields Reserves and Resources are as at 1 August 2024, corresponding to the merger completion Westgold Resources Limited ABN 60 009 260 306 ASX: WGX | TSX: WGX | OTC: WGXRF T: +61 8 9462 3400 E: perth.reception@westgold.com.au W: westgold.com.au Level 6, 200 St Georges Terrace Perth WA 6000 PO Box 7068, Cloisters Square WA 6850 Westgold Managing Director Wayne Bramwell commented: “Westgold is growing our business both organically and inorganically. Drilling investment over FY23 and FY24 has delivered the first increase in Murchison Ore Reserves since 2017. On an inorganic basis the integration of the Southern Goldfields assets has lifted our Mineral Resource base to 13.2Moz and Ore Reserves to 3.3Moz. Resource conversion across the portfolio is our focus and opportunities are abundant. The Starlight mine continues to grow in stature, the Bluebird-South Junction complex continues to grow in scale, and through drilling, the emerging Fletcher Zone at Beta Hunt will reveal its true potential. On an exploration front, the Higginsville area has seen limited attention for over a decade and is wide open for exploration success. Westgold today has 19 drill rigs operating across our portfolio and this investment will continue to unlock value from our 3,200km2 of tenure across two of Western Australia’s most productive goldfields.” 2024 Mineral Resource Estimate As of 30 June 2024, the total gold Mineral Resource estimate for the Westgold business was 179Mt at 2.29g/t Au for 13.2Moz of gold 2. This represents 60% growth in the Company’s gold Mineral Resource base year on year underpinned by both a continued significant campaign of exploration and resource definition drilling over FY24 (investing $25M on top of the $19M invested in FY23) and the integration of the Southern Goldfields assets of Karora Resources Inc. (Karora) into the enlarged Westgold (refer Figure 1). 2.39 2.10 9,857 2.11 2.17 2.14 2.22 2.29 13,160 2.24 4,650 9,345 9,118 8,799 7,947 7,940 8,250 8,511 FY17 FY18 FY19 Resource Grade(g/t) FY20 FY21 Southern Goldfields Resource (Koz) FY22 FY23 FY24 Murchison Resource (Koz) Figure 1 – Westgold has achieved Mineral Resource growth in FY23 and FY24. 3 2 Southern Goldfields Reserves and Resources are as at 1 August 2024, corresponding to the merger completion 3 FY17 – FY23 Resources completed under JORC code only 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 2 The exploration and resource definition drilling completed over FY24 has contributed to a 440koz (12%) increase in the Mineral Resources of our operating mines in the Murchison (4,056koz) compared to FY23. The Murchison Operations incorporate the Bluebird, Tuckabianna and Fortnum processing hubs while the Southern Goldfields Operations incorporate the Lakewood and Higginsville processing hubs. Tables 1, 2 and 3 below depict the FY24 Mineral Resource Estimates for the Murchison and Southern Goldfields Operations. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 3 Table 1 – Gold Mineral Resource Estimates at 30 June 2024 for Westgold Operating Mines. Murchison Gold Operations Mineral Resource Statement - Rounded for Reporting 30/06/2024 Measured Indicated Measured and Indicated Inferred Total Operating Mine Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell UG 4,022 3.07 397 7,965 3.33 853 11,988 3.24 1,250 5,927 3.11 593 17,914 3.20 1,842 Fender UG 95 3.22 10 201 3.05 20 297 3.10 30 345 3.33 37 642 3.23 67 Great Fingall UG 0 0.00 0 1,616 5.25 273 1,616 5.25 273 883 3.51 100 2,499 4.64 372 Golden Crown UG 0 0.00 0 333 6.18 66 333 6.18 66 944 5.14 156 1,277 5.41 222 Bluebird Group UG 304 4.09 40 4,368 3.03 425 4,672 3.10 465 6,032 2.55 495 10,705 2.79 960 Starlight UG 881 4.01 114 1,973 3.44 218 2,854 3.62 332 2,588 3.13 260 5,442 3.38 592 Total 5,303 3.29 561 16,457 3.51 1,855 21,760 3.45 2,415 16,719 3.05 1,641 38,479 3.28 4,056 Southern Goldfields Gold Operations Mineral Resource Statement - Rounded for Reporting 1/08/2024 Measured Indicated Measured and Indicated Inferred Total Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) 24 1.55 1 1,141 2.32 85 1,165 2.30 86 184 2.78 16 1,349 2.37 103 Pioneer 0 0.00 0 519 2.11 35 519 2.11 35 345 1.50 17 864 1.87 52 Beta Hunt 1,142 2.79 102 16,581 2.74 1,458 17,723 2.74 1,561 12,860 2.63 1,086 30,583 2.69 2,647 Total 1,166 2.76 104 18,241 0.21 120 19,407 0.36 224 13,388 2.60 1,119 32,795 2.66 2,801 Operating Mine Two Boys 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 4 Table 2 – Gold Mineral Resource Estimates at 30 June 2024 for Westgold Non-Operating Projects. Murchison Gold Operations Mineral Resource Statement - Rounded for Reporting 30/06/2024 Measured Project Tonnes ('000s) Indicated Grade Ounces Au ('000s) Tonnes ('000s) Grade Measured and Indicated Ounces Au ('000s) Tonnes ('000s) Grade Inferred Ounces Au ('000s) Tonnes ('000s) Total Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell District 60 2.81 5 802 2.64 68 861 2.65 73 1,848 2.94 175 2,709 2.85 248 Cuddingwarra 85 1.66 5 1,600 1.63 84 1,685 1.63 88 597 1.50 29 2,282 1.59 117 Day Dawn District 58 1.73 3 1,068 2.04 70 1,126 2.02 73 1,043 1.78 60 2,169 1.91 133 Tuckabianna 267 3.54 30 3,448 2.78 308 3,715 2.84 339 2,899 2.63 245 6,614 2.75 584 Tuckabianna Stockpiles 81 2.09 5 3,627 0.70 81 3,709 0.73 87 0 0.00 0 3,709 0.73 87 Meekatharra North 0 0.00 0 97 1.98 6 97 1.98 6 75 2.11 5 172 2.04 11 Nannine 68 2.55 6 859 2.06 57 927 2.09 62 340 2.26 25 1,267 2.14 87 Paddy's Flat 376 3.67 44 10,641 1.65 564 11,017 1.72 608 2,574 1.93 160 13,591 1.76 768 Reedy's 430 3.77 52 3,225 2.58 267 3,656 2.72 319 9,191 2.54 750 12,846 2.59 1,069 Yaloginda District 53 2.59 4 4,128 1.47 195 4,181 1.49 200 5,879 1.40 265 10,060 1.44 464 Bluebird Stockpiles 350 1.34 15 0 0.00 0 350 1.34 15 0 0.00 0 350 1.34 15 Fortnum District 332 2.67 28 2,951 2.08 197 3,282 2.14 226 618 1.88 37 3,900 2.10 263 Horseshoe 0 0.00 0 1,266 2.09 85 1,266 2.09 85 183 1.43 8 1,449 2.01 93 Peak Hill 0 0.00 0 7,547 1.55 376 7,547 1.55 376 1,838 1.78 105 9,385 1.60 481 FGO Stockpiles 723 0.95 22 481 0.69 11 1,204 0.85 33 16 0.54 0 1,220 0.84 33 Total 2,884 2.39 221 41,741 1.77 2,370 44,625 1.81 2,591 27,100 2.14 1,864 71,724 1.93 4,455 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 5 Southern Goldfields Gold Operations Mineral Resource Statement - Rounded for Reporting 1/08/2024 Measured Tonnes ('000s) HGO Central HGO Greater Indicated Grade Ounces Au ('000s) Tonnes ('000s) 931 2.94 88 466 3.00 45 Mt Henry 11,042 1.19 HGO Stockpiles 373 BHO Stockpiles 47 12,859 Project Total Measured and Indicated Grade Ounces Au ('000s) Tonnes ('000s) 2,442 2.74 215 2,799 2.79 251 424 10,172 1.16 0.40 5 1,568 2.09 3 0 1.37 565 16,981 Inferred Grade Ounces Au ('000s) Tonnes ('000s) 3,373 2.80 303 3,265 2.82 296 378 21,214 1.18 0.76 38 1,940 0.00 0 47 1.62 882 29,840 Total Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) 1,519 2.91 142 4,892 2.83 445 1,999 2.39 154 5,264 2.66 450 802 2,565 1.28 106 23,779 1.19 907 0.69 43 0 0.00 0 1,940 0.69 43 2.09 3 0 0.00 0 47 2.09 3 1.51 1,447 6,083 2.05 402 35,923 1.60 1,849 Table 3 – Nickel Mineral Resource Estimates at 1 August 2024 for Beta Hunt. Beta Hunt Nickel Operations Mineral Resource Statement - Rounded for Reporting 1/08/2024 Measured Indicated Measured and Indicated Inferred Total Tonnes ('000s) Ni (%) NiT ('000s) Tonnes ('000s) Ni (%) NiT ('000s) Tonnes ('000s) Ni (%) NiT ('000s) Tonnes ('000s) Ni (%) NiT ('000s) Tonnes ('000s) Ni (%) NiT ('000s) Beta Hunt 0 0.0% 0 749 2.8% 21 749 2.8% 21 499 2.7% 13 1,248 2.8% 35 Total 0 0.0% 0 749 2.8% 21 749 2.8% 21 499 2.7% 13 1,248 2.8% 35 Project See Figure 2, Figure 3 and Figure 4 for location details. Additional detailed information relating to generation of the Mineral Resource Estimates is attached in Appendix B & C Table 1 – JORC 2012 Reporting Criteria. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 6 Figure 2 - Murchison Operations Project Areas (Bluebird & Tuckabianna). 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 Figure 3 - Murchison Operations Project Areas (Fortnum) 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 8 Figure 4 – Southern Goldfields Operations Project Area. Material year-on-year changes to the Westgold gold Mineral Resource Estimate include: ■ ■ Integration of the Karora Mineral Resources into the enlarged Westgold: o Beta Hunt Operations (+2.6Moz); and o Higginsville Gold Operations (+2Moz). Routine mining depletions and ongoing resource development contributed to a 440koz collective increase in Westgold’s Mineral Resources for active mines in the Murchison, including: o Bluebird - South Junction (+606oz); o Big Bell (-185oz); and o Starlight (+173koz); 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 9 ■ Offset by assessment and development legacy resources in peripheral project areas, including: o Paddy’s Flat (-89koz) The year-on-year gold Mineral Resource Estimate inventory change is shown in Figure 5. 4,650 8,250 8,510 245 FY23 Mineral Depletion Resource 43 Stockpile changes 548 Res. Dev activity & model updates Mineral Resource (koz) 13,160 FY24 Southern FY24 Mineral Murchison Operations Resource Mineral Resource Figure 5 – Mineral Resource substantially increased through merger. Geology Murchison The Meekatharra Gold operation is located in the Achaean Murchison Province, a granitegreenstone terrane in the northwest of the Yilgarn Craton. Greenstone belts trending northnortheast are separated by granite-gneiss domes, with smaller granite plutons also present within or on the margins of the belts. The Paddy’s Flat area is located on the western limb of a regional fold, the Polelle Syncline, within a sequence of mafic to ultramafic volcanics with minor interflow sediments and banded ironformation. The sequence has also been intruded by felsic porphyry dykes prior to mineralisation. Mineralisation is located along four sub-parallel trends at Paddy’s Flat and can be comprised of sulphide replacement BIF hosted gold, quartz vein hosted shear-related gold and quartzcarbonate-sulphide stockwork vein and alteration related gold. The Yaloginda area which hosts Bluebird – South Junction, is a gold-bearing Archaean greenstone belt situated ~15km south of Meekatharra. The deposits in the area are hosted in a strained and metamorphosed volcanic sequence that consists primarily of ultramafic and high-magnesium basalt with minor komatiite, peridotite, gabbro, tholeiitic basalt and interflow sediments. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 10 The sequence was intruded by a variety of felsic porphyry and intermediate sills and dykes. The Reedy’s mining district is located approximately 50 km to the south-east to Meekatharra and to the south of Lake Annean. The Reedy gold deposits occur within a north-south trending greenstone belt, two to five kilometres wide, composed of volcano-sedimentary sequences and separated multiphase syn- and post-tectonic granitoid complexes. The Cue Gold Operations are located in the Achaean Murchison Province, a granite-greenstone terrane in the northwest of the Yilgarn Craton. Greenstone belts trending north-northeast are separated by granite-gneiss domes, with smaller granite plutons also present within or on the margins of the belts. Mineralisation at Big Bell is hosted in the shear zone (Mine Sequence) and is associated with the post-peak metamorphic retrograde assemblages. Stibnite, native antimony and trace arsenopyrite are disseminated through the K-feldspar-rich lode schist. These are intergrown with pyrite and pyrrhotite and chalcopyrite. Mineralisation outside the typical Big Bell host rocks (KPSH), for example 1,600N and Shocker, also display a very strong W-As-Sb geochemical halo. Numerous gold deposits occur within the Cuddingwarra Project area, the majority of which are hosted within the central mafic-ultramafic ± felsic porphyry sequence. Within this broad framework, mineralisation is shown to be spatially controlled by competency contrasts across, and flexures along, layer-parallel D2 shear zones, and is maximised when transected by corridors of northeast striking D3 faults and fractures. The Great Fingall Dolerite hosts the majority gold mineralisation within the portion of the greenstone belt proximal to Cue (the Day Dawn Project Area). Unit AGF3 is the most brittle of all the five units and this characteristic is responsible for its role as the most favourable lithological host to gold mineralisation in the Greenstone Belt. The Fortnum deposits are Paleoproterozoic shear-hosted gold deposits within the Fortnum Wedge, a localised thrust duplex of Narracoota Formation within the overlying Ravelstone Formation. Both stratigraphic formations comprise part of the Bryah Basin in the Capricorn Orogen, Western Australia. The Horseshoe Cassidy deposits are hosted within the Ravelstone Formation (siltstone and argillite) and Narracoota Formation (highly altered, moderate to strongly deformed mafic to ultramafic rocks). The main zone of mineralisation is developed within a horizon of highly altered magnesian basalt. Gold mineralisation is associated with strong vein stock works that are confined to the altered mafic. Alteration consists of two types: stockwork proximal silicacarbonate-fuchsite-haematite-pyrite and distal silica-haematite-carbonate+/- chlorite. The Peak Hill district represents remnants of a Proterozoic fold belt comprising highly deformed trough and shelf sediments and mafic / ultramafic volcanics, which are generally moderately metamorphosed (except for the Peak Hill Metamorphic Suite). 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 11 Southern Goldfields The Beta Hunt Gold Operations are situated within the central portion of the Norseman-Wiluna greenstone belt in a sequence of mafic / ultramafic and felsic rocks on the southwest flank of the Kambalda Dome. Gold mineralisation occurs mainly in subvertical shear zones in the Lunnon Basalt and is characterised by shear and extensional quartz veining within a halo of biotite/pyrite alteration. Within these shear zones, coarse gold sometimes occurs where the shear zones intersect iron-rich sulphidic metasediments in the Lunnon Basalt or nickel sulphides at the base of the Kambalda Komatiite (ultramafics). The mineralised shears are represented by A-Zone, Western Flanks, Larkin and Mason zones. The Higginsville Gold Operation is located in the Eastern Goldfields Superterrane of the Archean Yilgarn Craton. The bulk of the Higginsville tenement package is located almost entirely within the well-mineralised Kalgoorlie Terrane, between the gold mining centres of Norseman and StIves. HGO can be sub-divided into seven major geological domains: Trident Line of Lode, Chalice, Lake Cowan, Southern Paleo-channels, Mt Henry, Polar Bear Group and Spargo’s Project area. Majority of mineralisation along the Trident Line of Lode are hosted within the Poseidon gabbro and high-MgO dyke complexes in the south. The Poseidon Gabbro is a thick, weaklydifferentiated gabbroic sill, which strikes north-south and dips 60° to the east, is over 500 m thick and 2.5 km long. The mineralisation is hosted within or marginal to quartz veining and is structurally and lithologically controlled. The Chalice Deposit is located within a north-south trending, 2 km to 3 km wide greenstone terrane, flanked on the west calc-alkaline granitic rocks of the Boorabin Batholith and to the east by the Pioneer Dome Batholith. The dominant unit that hosts gold mineralisation is a fine grained, weak to strongly foliated amphibole-plagioclase amphibolite, with a typically lepidoblastic (mineralogically aligned and banded) texture. It is west-dipping and generally steep, approximately 60° to 75°. The Lake Cowan project area is situated near the centre of a regional anticline between the Zuleika and Lefroy faults, with the local geology of the area made more complex by the intrusion of the massive Proterozoic Binneringie dyke. The majority of mineralisation at the Lake Cowan Mining Centre is hosted within an enclave of Archaean material surrounded by the Binneringie dyke. Mineralised zones within the Southern Paleo Channels network comprise both placer gold, normally near the base of the channel-fill sequences, and chemically-precipitated secondary gold within the channel-fill materials and underlying saprolite. These gold concentrations commonly overlie, or are adjacent to, primary mineralised zones within Archaean bedrock. The Mount Henry Project covers 347km2 of the prolific South Norseman‐Wiluna Greenstone belt of the Eastern Goldfields in Western Australia. Although the greenstone rocks from the Norseman area can be broadly correlated with those of the Kalgoorlie – Kambalda region they form a distinct terrain which is bounded on all sides by major regional shears. The Norseman Terrane has prominent banded iron formations which distinguish it from the Kalgoorlie– 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 12 Kambalda Terrane. The Mount Henry gold deposit is hosted by a silicate facies BIF unit within the Noganyer Formation. Gold mineralisation is predominantly hosted by the silicate facies BIF unit but is also associated with minor meta‐basalt and dolerite units that were mostly emplaced in the BIF prior to mineralisation. The footwall to the BIF is characterised by a sedimentary schistose unit and the hanging wall by the overlying dolerites of the Woolyeener Formation. The Mount Henry gold deposit is classified as an Archean, orogenic shear hosted deposit. The main lode is an elongated, shear‐hosted body, 1.9km long by 6 – 10 metres wide and dips 65‐75 degrees towards the west. The Polar Bear project is situated within the Archaean Norseman-Wiluna Belt which locally includes basalts, komatiites, metasediments, and felsic volcaniclastics. The primary gold mineralisation is related to hydrothermal activity during multiple deformation events. Indications are that gold mineralisation is focused on or near to the stratigraphic boundary between the Killaloe and Buldania Formation. The Spargo’s Project occurs within Coolgardie Domain of the Kalgoorlie Terrane. The area is bounded by the Zuleika Shear to the east and the Kunanalling Shear to the west. The geological setting comprises tightly-folded north-south striking ultramafic and mafic volcanic rocks at the northern closure Widgiemooltha Dome. The project lies on the general trend of the Kunanalling / Karramindie Shear corridor, a regional shear zone that hosts significant mineralisation to the north at Ghost Crab (Mount Marion), Wattle Dam to the south, the Penfolds group and Kunanalling. The regional prospective Zuleika Shear lies to the east of the project. The tenements are prospective for vein and shear hosted gold deposits as demonstrated by Spargo’s Reward and numerous other gold workings and occurrences. Gold mineralisation at Spargo’s Reward is hosted by a coarse-grained pyrite-arsenopyrite lode in quartz-sericite schists, between strongly biotitic altered greywacke to the east and quartz-sericite-fuchsite-pyrite altered felsic tuff to the west. Gold mineralisation is associated with very little quartz veining which is atypical for many deposits in region. The Spargo’s Reward setting has been described variously as a low-quartz sulphidic mesothermal gold system or as a Hemlo style syn-sedimentary occurrence. Background to the Mineral Resource Estimate Geological interpretation of individual deposits is carried out using a systematic approach to ensure that the resultant estimated Mineral Resource Estimate was both sufficiently constrained, and representative of the expected sub-surface conditions. In all aspects of Mineral Resource Estimation, the factual and interpreted geology was used to guide the development of the interpretation. Geological matrixes were established to assist with interpretation and construction of the estimation domains. A significant portion of the data used in Mineral Resource Estimations has been gathered from diamond core. Multiple sizes have been used. This core is geologically logged and subsequently halved for sampling. Grade control holes may be whole-cored to streamline the core handling process if required. Face sampling data is also utilised, where each development face / round is horizontally chip sampled. The sampling intervals are domained by geological constraints (e.g. rock type, veining and alteration / sulphidation etc.). 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 13 All geology input is logged and validated by the relevant area geologists, incorporated into this is assessment of sample recovery. No defined relationship exists between sample recovery and grade. Nor has sample bias due to preferential loss or gain of fine or coarse material been noted. Faces are nominally chipped horizontally across the face from left to right, sub-set via geological features as appropriate. Diamond drilling is half-core niche sampled, sub-set via geological features as appropriate. Samples undergo fine pulverisation of the entire sample by an LM5 type mill to achieve a 75µ product prior to splitting. QA/QC is currently ensured during the sub-sampling stages process via the use of the systems of an independent NATA / ISO accredited laboratory contractor. The sample size is considered appropriate for the grain size of the material being sampled. The unsampled half of diamond core is retained for check sampling if required. Sampling is analysed for gold by fire assay as outlined below; • A 40g – 50g sample undergoes fire assay lead collection followed by flame atomic adsorption spectrometry. • Quality control is ensured via the use of standards, blanks and duplicates. The laboratory includes a minimum of 1 project standard with every 22 samples analysed. No significant QA/QC issues have arisen in recent drilling results. Photon Assay was introduced in 2023 for Beta Hunt gold grade control samples. PhotonAssay™ technology (Chrysos Corporation Limited) is a rapid, non-destructive analysis of gold and other elements in mineral samples. It is based on the principle of gamma activation, which uses high energy x-rays to excite changes to the nuclear structure of selected elements. The decay is then measured to give a gold analysis. Each sample is run through two cycles with a radiation time of 15s. This methodology is insensitive to material type and thus does not require fluxing chemicals as in the fire assay methodology. Nickel analyses have been completed by 4 acid digest and final analysis using ICP-OES. After validating the drillhole data to be used in the estimation, interpretation of the orebody is undertaken to create the outline strings which form the basis of the three-dimensional orebody wireframe. Wireframing is then carried out using a combination of automated stitching algorithms and manual triangulation to create an accurate three-dimensional representation of the sub-surface mineralised body. Drillhole intersections within the mineralised body are defined, these intersections are then used to flag the appropriate sections of the drillhole database tables for compositing purposes. Drillholes are subsequently composited to allow for grade estimation. In all aspects of resource estimation, the factual and interpreted geology was used to guide the development of the interpretation. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 14 Once the sample data has been composited, a statistical analysis is undertaken to assist with determining estimation search parameters, top-cuts etc. Analysis of individual domains is undertaken to assist with determining appropriate search parameters. Which are then incorporated with observed geological and geometrical features to determine the most appropriate search parameters. An empty block model is then created for the area of interest. This model contains attributes set at background values for the various elements of interest as well as density, and various estimation parameters that are subsequently used to assist in resource categorisation. The block sizes used in the model will vary depending on orebody geometry, minimum mining units, estimation parameters and levels of informing data available. Grade estimation is then undertaken. Ordinary kriging estimation method is considered as standard. Estimation results are validated against primary input data, previous estimates and mining output. The Mineral Resource is then depleted for mining voids and subsequently classified in line with JORC guidelines utilising a combination of various estimation derived parameters and geological / mining knowledge. Data spacing is variable dependent upon the individual lode under consideration. This approach considers all relevant factors and reflects the Competent Person’s view of the deposit. The cut off grades used for the reporting of the Mineral Resources Estimates is selected based upon the style of mineralisation, depth from surface of the mineralisation and the most probable extraction technique and associated costs. Likely mining approaches have been considered at the domaining, estimation and classification steps. However, no mining dilution or ore loss has been modelled in the resource model or applied to the reported Mineral Resource Estimate. Nor has metallurgical recovery been applied to the reported Mineral Resource Estimate. These factors are applied during the Ore Reserve generation process. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 15 Figure 6 – Big Bell Mineral Resource Schematic FY24. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 16 Figure 7 – Fender Mineral Resource Schematic FY24. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 17 Figure 8 – Great Fingall Mineral Resource Schematic FY24. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 18 Figure 9 – Bluebird – South Junction Mineral Resource Schematic FY24. Figure 10 – Starlight Mineral Resource Schematic FY24. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 19 Figure 11 – Beta Hunt Mineral Resource Schematic FY24. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 20 Figure 12 – Fletcher detail with current position of decline development into Fletcher zone visible. Westgold nickel Mineral Resources have increased materially year-on-year driven by: ■ Integration of the Karora nickel Mineral Resources into the enlarged Westgold: o Beta Hunt 35kt Ni. 2024 Mineral Resource Estimate and Ore Reserves 16 September 2024 21 2024 Ore Reserves Figure 13 depicts Westgold’s cumulate production and Ore Reserves since 2017. As of 30 June 2024, the total Ore Reserve is 50Mt at 2.05g/t Au for 3.3Moz of gold 4. This represents 69% growth in Westgold’s gold Ore Reserves year on year underpinned by both a continued significant campaign of exploration and resource drilling over FY24 (investing $25M on top of the $19M invested in FY23) and the integration of the Southern Goldfields assets of Karora into the enlarged Westgold. The investment in exploration delivered the first increase in Ore Reserves post depletion within the Murchison since FY17. In FY25, Westgold expects to spend $50M towards exploration and resource definition drilling with a focus on Mineral Resource conversion into Ore R