June 2026 Quarterly Webcast Presentation
June 2026
Quarterly Webcast
ASX |TSX: WGX
westgold.com.au
Important notices and disclaimer
Investor Presentation
This investor presentation is dated 22 July 2026 and has been prepared by Westgold Resources Limited (ASX: WGX, TSX:WGX)
(Westgold) based on information available to it at the time of preparing this presentation. No representation or warranty,
express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and
conclusions contained in this presentation.
To the maximum extent permitted by law, none of Westgold, its directors, employees or agents, advisers, nor any other person,
accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any
other person, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.
Financial values are reported in A$ unless otherwise specified.
Not an Offer
This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for,
purchase or sale of any security, and neither this presentation nor anything in it shall form the basis of any contract or
commitment whatsoever.
This presentation has been prepared for publication in Australia and may not be released to US wire services or distributed in
the United States. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the
United States or any other jurisdiction. Any securities described in this presentation have not been, and will not be, registered
under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under
the US Securities Act or exempt from, or not subject to, the registration of the US Securities Act and applicable US state
securities laws.
Summary Information
By reviewing or retaining these materials, or attending or participating in this presentation, you acknowledge and represent
that you have read, understood and accepted the terms of this “Important Notices and Disclaimer”. This presentation contains
summary information about Westgold and its activities current only at the date of this presentation. This presentation is for
information purposes only. The information in the presentation is of a general nature only and does not purport to be
complete. This presentation should be read in conjunction with Westgold’s periodic and continuous disclosure
announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au and on
Westgold's website at www.westgold.com.au, and in Canada under Westgold's profile on SEDAR+ at www.sedarplus.ca.
Certain information in this presentation may have been obtained from research, surveys or studies conducted by third parties,
including industry or general publications. Neither Westgold nor its representatives have independently verified any such
information sourced from third parties or industry or general publications.
Not Investment Advice
This presentation does not constitute in any way an offer or invitation to subscribe for securities in Westgold pursuant to the
Corporations Act 2001 (Cth). This presentation does not constitute investment advice and has been prepared by Westgold
without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient
must make his/her own independent assessment and investigation of Westgold and its business and assets when deciding if
an investment is appropriate and should not rely on any statement or the adequacy and accuracy of any information.
This presentation is in summary form and does not purpose to be exhaustive. Westgold makes no representation or warranty
(either expressed or implied) as to the accuracy, reliability or completeness of the information in this presentation. Westgold
and its respective directors, employees, agents and consultants shall have no liability (including liability to any person by
reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied)
arising out of, contained in or derived from, or for any omissions from the presentation, except liability under statute that
cannot be excluded.
Forward-looking Statements
This document contains “forward-looking information” and “forward-looking statements” which 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 Westgold believes to be relevant
and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or
conditions, or include words such as ‘expects’, ‘anticipates’, ‘plans’, ‘believes’, ‘estimates’, ‘seeks’, ‘intends’, ‘targets’, ‘projects’,
‘forecasts’, or negative versions thereof and other similar expressions, or future or conditional verbs such as ‘may’, ‘will’,
‘should’, ‘would’ and ‘could’. Although management believes that the assumptions made by Westgold 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 Westgold 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 gold, the actual results of current exploration, the actual results of future exploration, changes in project
parameters as plans continue to be evaluated, changes in laws, regulations and practices, the geopolitical, economic,
permitting and legal climate that Westgold operates in, as well as those factors disclosed in Westgold's publicly filed
documents. Westgold believes that the assumptions and expectations reflected in the forward-looking information are
reasonable. Readers should not place undue reliance on forward-looking information. Westgold does not undertake to update
any forward-looking information, except in accordance with applicable securities laws.
Historical Information
Information about the past performance of Westgold contained in this presentation is given for illustrative purposes only and
cannot be relied upon as an indicator of (and provides no guidance as to) future performance, including future share price
performance of Westgold. Any such historical information is not represented as being, and is not, indicative of Westgold’s view
on its future financial condition and/or performance, nor the future financial condition and/or performance of the merged
group.
2
Important notices and disclaimer
Ore Reserves and Mineral Resources
The information in this presentation that relates to the Ore Reserves and Mineral Resources of Westgold has been extracted from the
ASX announcement titled “2025 Mineral Resource Estimate and Ore Reserves" released to the ASX on 3 September 2025 and available
at www.asx.com.au. In events subsequent, Westgold divested the Mt Henry-Selene project, which had associated with it a Mineral
Resource of 24Mt at 1.2g/t gold for 0.9Moz contained gold and an Ore Reserve of 11.7Mt at 1.3g/t Au for 478,300oz – see ASX
announcement titled “Mt Henry-Selene Gold Project Divested for $64.6M" released to the ASX on 17 December 2025 and available at
www.asx.com.au. In events subsequent, Westgold spun out its Reedy and Comet projects, which had associated with it approximately
1.2Moz of JORC-compliant Mineral Resources - Refer to Valiant Gold Limited’s (ASX:VAL) Prospectus (specifically Section 2.3 and
Attachment A) dated 16 February 2026 for further information regarding the Mineral Resource estimates for the Reedy and Comet
Projects. In events subsequent, Westgold divested its Peak Hill project, which had associated with it approximately 480koz of JORC-
compliant Mineral Resources - Refer to Great Boulder’s (ASX:GBR) release dated 1 July 2026 for further information regarding the Mineral
Resource estimates for the Peak Hill Project. In events subsequent, Westgold divested its Chalice Gold project, which had associated
with it approximately 190koz of JORC-compliant Mineral Resources - Refer to Corazon’s (ASX:CZN) release dated 9 July 2026 for further
information regarding the Mineral Resource estimates for the Chalice Gold Project. Westgold confirms that it is not aware of any new
information or data that materially affects the information included in that announcement, and that all material assumptions and
technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. Westgold
confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from that
announcement.
The information in this presentation that relates to Westgold’s Exploration results and Mineral Resource Estimates is compiled by
Westgold technical employees and contractors under the supervision of Mr. Jake Russell B.Sc. (Hons), who is a member of the
Australian Institute of Geoscientists and who has verified, reviewed and approved such information. Mr Russell is a full-time employee
of Westgold and has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and
to the activities which he is undertaking to qualify as a Competent Person as defined in the Joint Ore Reserves Committee’s 2012
Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code) and as a Qualified Person as defined in the CIM
Guidelines and National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (NI
43-101). Mr. Russell is a full-time employee as General Manager – Technical Services of Westgold and, accordingly, is not independent
for purposes of NI 43-101. Mr Russell consents to and approves of the inclusion in this presentation of the matters based on his
information in the form and context in which it appears. Mr Russell is eligible to participate in short and long-term incentive plans of
Westgold.
The information in this presentation that relates to Westgold’s Ore Reserve is based on information compiled by Mr. Leigh Devlin B.Eng.
FAusIMM and who has verified, reviewed and approved such information. Mr. Devlin has sufficient experience which is relevant to the
styles of mineralisation and types of deposit under consideration and to the activities which they are undertaking to qualify as a
Competent Person as defined in the JORC Code and as a Qualified Person as defined in the CIM Guidelines and NI 43-101. Mr. Devlin is
full-time senior executive of Westgold and, accordingly, is not independent for purposes of NI 43-101. Mr. Devlin consents to and
approves of the inclusion in this presentation of the matters based on his information in the form and context in which it appears. Mr.
Devlin is a full-time senior executive of Westgold and is eligible to and may participate in short-term and long-term incentive plans of
Westgold as disclosed in its annual reports and disclosure documents.
Mineral Resources, Ore Reserve Estimates and Exploration Targets and Results are calculated in accordance with the JORC Code.
Investors outside Australia should note that while Ore Reserve and Mineral Resource estimates of the Company in this announcement
comply with the JORC Code (such JORC Code-compliant Ore Reserves and Mineral Resources being "Ore Reserves" and "Mineral
Resources" respectively), they may not comply with the relevant guidelines in other countries. The JORC Code is an acceptable foreign
code under NI 43-101. Information contained in this release describing mineral deposits may not be comparable to similar information
made public by companies subject to the reporting and disclosure requirements of US securities laws, including Item 1300 of
Regulation S-K. All technical and scientific information in this release has been prepared in accordance with the Canadian regulatory
requirements set out in NI 43-101 and has been reviewed on behalf of the Company by Qualified Persons, as set forth above.
This presentation contains references to estimates of Mineral Resources and Ore Reserves. The estimation of Mineral Resources is
inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Ore Reserves do
not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data,
and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and
depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate.
Mineral Resource estimates may require re-estimation based on, among other things: (i) fluctuations in the price of gold; (ii) results of
drilling; (iii) results of metallurgical testing, process and other studies; (iv) changes to proposed mine plans; (v) the evaluation of mine
plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licenses.
Investment Risk
As noted above, an investment in shares in Westgold is subject to investment and other known and unknown risks, some of which are
beyond the control of Westgold. Westgold does not guarantee any particular rate of return or the performance of Westgold, nor does it
guarantee the repayment of capital from Westgold or any particular tax treatment. Prospective investors should have regard to the risks
outlined in this presentation when making their investment decision and should make their own enquires and investigations regarding all
information in this presentation, including but not limited to the assumptions, uncertainties and contingencies which may affect future
operations of Westgold and the impact that different future outcomes may have on Westgold. These risks, together with other general
risks applicable to all investments in listed securities not specifically referred to, may affect the value of shares in Westgold in the
future. There is no guarantee that the Westgold shares will make a return on the capital invested, that dividends will be paid on the
Westgold shares or that there will be an increase in the value of the Westgold shares in the future. Accordingly, an investment in
Westgold should be considered highly speculative and potential investors should consult their professional advisers before deciding
whether to subscribe for Westgold shares.
Effect of Rounding
A number of figures, amounts, percentages, estimates and calculations of value in this presentation are subject to the effect of
rounding. The actual calculation of these figures may differ from the figures set out in this presentation.
Disclaimer
Neither Westgold nor any of its advisers, affiliates, related bodies corporate, directors, officers, partners, employees or agents, have
authorised, permitted or caused the issue, submission, dispatch or provision of this presentation and, except to the extent referred to in
this presentation, none of them makes or purports to make any statement in this presentation and there is no statement in this
presentation which is based on any statement by any of them. To the maximum extent permitted by law, Westgold and its advisers,
affiliates, related bodies corporate, directors, officers, partners, employees or agents exclude and disclaim all liability, for any expenses,
losses, damages or costs incurred by you and the information in this presentation being inaccurate or incomplete in any way for any
reason, whether by negligence or otherwise. To the maximum extent permitted by law, Westgold and its advisers, affiliates, related
bodies corporate, directors, officers, partners, employees or agents make no representation or warranty, express or implied, as to the
currency, accuracy, reliability or completeness of information in this presentation and the statements made in this Presentation are
made only as at the date of this presentation (unless otherwise indicated). The information in this presentation remains subject to
change without notice.
To the maximum extent permitted by law, Westgold and its advisers, affiliates, related bodies corporate, directors, officers, partners,
employees or agents each expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or
negligence for any loss arising from the use of or reliance on information contained in this presentation, including representations or
warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters,
express or implied, contained in, arising out of or derived from, or for omissions from, this presentation including, without limitation, any
financial information, any estimates or projections and any other financial information derived therefrom.
3
FY26 Production guidance exceeded; cost guidance met
1. Refer to the Company’s ASX announcement titled “FY26 Guidance” dated 7 August 2025 for further information.
2. Treasury (cash, bullion and liquid investments) build was $233M before share buy backs $22M, growth and exploration spend (invested $142M on non-sustaining capital and $11M on exploration), and one-off cash inflows (proceeds from
asset divestments totalled $25M)
387koz gold production; exceeded
guidance1
AISC $2,841/oz; achieved cost guidance
1
Treasury increased by $575M to $939M
Strategy delivering: growth, cash
generation and shareholder returns
98.9koz gold production; AISC $2,802/oz
Record mining rates at Bluebird South-
Junction and Big Bell
$233M underlying cash build
2
Continued investment in future growth
Full Year Highlights Q4 FY26 Highlights
4
Production guidance beat, cost guidance met
5
Q2 FY26
Production (oz) 111,418
AISC ($/oz) 2,902*
FY26
387,354
2,841
Non-sustaining capital ($M) 52 341
Exploration ($M) 6 42
FY26 Guidance1
345,000 – 385,000
2,600 – 2,900
270
50
Q1 FY26
83,937
2,731*
65
12
Q3 FY26
93,145
2,931
81
13
* Q1 and Q2 FY26 AISC adjusted post Half-Year Financial Report for the period ended 31 December 2025
1. Refer to the Company’s ASX announcement titled “FY26 Guidance” dated 7 August 2025 for further information.
Q4 FY26
98,854
2,802
142
11
FY27 Guidance and updated 3 Year Outlook due August 2026
Operational results
6
Murchison performance building; costs steady
Murchison production lifts;
Bluebird South Junction hits 1Mtpa
exit rate; Record mining rates at Big
Bell
Excluding the toll treatment gap,
Southern Goldfields production
steady; Beta Hunt delivered its
strongest quarterly mining rate of
FY26 despite vent capacity limits
AISC improvement driven by
increased production
AISC margin of $3,589/oz (achieved
gold price above the AISC)
237 222
258 231 230
5,174 5,296
6,356
7,080
6,391
2,688 2,731 2,902 2,931 2,802
Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26
Achieved gold price ($/oz)
AISC ($M)
Gold production (oz)
7
54,811 53,140
80,934
64,132
74,096
33,211 30,797
30,484
29,013
24,758
Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26
88,022 83,937
111,418
93,145
98,854
Southern Goldfields
Murchison
AISC ($/oz)
Performance improves in Q4
Murchison operations outperform and deliver strong group outputs
Q1
FY26
Q2
FY26
Q3
FY26
1.23 1.19 1.15
Q4
FY26
1.33
2.2
2.4
2.2 2.1
Q1
FY26
Q2
FY26
Q3
FY26
Q4
FY26
Q1
FY26
Q2
FY26
Q3
FY26
1.36
1.53 1.48
Q4
FY26
1.47
2.1
2.4
2.1
2.3
Q1
FY26
Q2
FY26
Q3
FY26
Q4
FY26
Q1
FY26
Q2
FY26
Q3
FY26
83.9
111.4
93.1
Q4
FY26
98.9
Ore Mined (Mt) Mined Grade (g/t) Ore Processed (Mt) Milled Grade (g/t) Gold Produced (koz)
Increased mine
production at
Bluebird-South
Junction, Big Bell
and Beta Hunt
Mined grades
marginally lower due
to increased Big Bell
and Beta Hunt ore in
the group total
Mills steady and fully
utilised
Higher grades at
Starlight and
displacement of low
grade stockpile in
the Murchison
Strong production
results continue
8
Hubperformance
Hub performance
Fortnum Hub
Fortnum Mill – 0.9Mtpa
Meekatharra Hub
Bluebird Mill - 1.8Mtpa
Cue Hub
Tuckabianna Mill – 1.4Mtpa
Starlight UG & Fortnum
stockpiles
Feed: Bluebird-South Junction UG,
Fender, Cue stockpiles, NMG
Ore Purchase, Meekatharra
open pit program
Feed: Big Bell UG, Great Fingall, Cue
stockpiles
Feed:
15,487
21,840
16,175 18,135
2.3
3.1
2.4
2.7
Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26
Gold produced (oz) Milled grade (g/t)
23,367
40,730
31,394
37,743
2.0
2.2
2.5
Q1 FY26
2.6
Q2 FY26 Q3 FY26 Q4 FY26
14,286
18,364 16,563 18,218
1.8 1.9 1.8 1.9
Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26
9
Higginsville Hub1
Higginsville Mill – 1.6Mtpa
Beta Hunt, Two Boys, Lake
Cowan OP, LG stockpiles
Feed:
30,797 30,484 29,013
24,758
2.3 2.3 2.2
2.0
Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26
1. Performance includes Lakewood toll treatment
Financial results
10
Strong cash generation whilst funding growth
11
Q1
FY26
Q2
FY26
Q3
FY26
94.9
115.2
69.9
Q4
FY26
110.3
5,296
6,356
7,080
6,391
Q1
FY26
Q2
FY26
Q3
FY26
Q4
FY26
2,731
2,902 2,931 2,802
Q1
FY26
Q2
FY26
Q3
FY26
Q4
FY26
133
265
254
159
Q1
FY26
Q2
FY26
Q3
FY26
Q4
FY26
472
654
856
939
Q1
FY26
Q2
FY26
Q3
FY26
Q4
FY26
Gold sold (koz) Realised gold price ($/oz) AISC ($/oz) Net mine cash flow
($M)
Closing Cash, Bullion &
Investments ($M)
Wind down of
bullion built in Q3
Westgold
remains fully
unhedged
Production increase
driving lower unit
costs
3YO pathway to lift
grade and reduce
haulage and
processing cost base
Strong margin
($3,589/oz) delivers
strong cash flows
Early commencement
of projects and capex
brought forward
$83M built in Cash,
Bullion &
Investments Q on Q
$600M credit facility
lifts available
liquidity to $1.5B
$233M underlying cash build1
Treasury Movement ($M)
1. Treasury (cash, bullion and liquid investments) build was $233M before share buy backs $22M, growth and exploration spend (invested $142M on non-sustaining capital and $11M on exploration), and one-off cash inflows (proceeds from asset
divestments totalled $25M)
2. Closing Q4, FY26 investments exclude investments in Valiant Gold and Corazon 12
Opening
Cash,
Bullion
&
Investments
(225)
Opening
Bullion
(152)
Opening
Investments
Opening
Cash
282
Murchison
Operating
Cashflow 109
(18)
Sustaining
Capital
(13)
Stockpiles
(22)
Closing
Operating
Cash
Exploration
(11)
PP&E
(64)
Growth
Capital
856
479
664
(79)
939
Tax
Payment
Closing
Cash,
Bullion
&
Investments
Closing
Investments
2
(56) 160
Closing
Bullion
Lease
Payments
Southern
Goldfields
Operating
Cashflow
112
(20)
Closing
Cash
25
Working
Capital
Share
Buy
Back
Proceeds
from
Asset
Sales
55
667
Operating Non-Sustaining Capex
& Exploration
Working Capital
+$83M
Shareholder returns increasing
13
FY26 on-market share buy-back1
Maiden buyback
Up to 5% share buy-back approved
Undertaken over 12 months
$27M bought back in FY26
1. Westgold commenced executing the Buy-Back program on 31 Oct 2025 in compliance
with Australian and Canadian securities laws with all purchases made through the
facilities of the ASX.
$26.6M
FY24 FY25 FY26
$10.3M
(2.25cps)
$28.3M
(3cps)
Increasing shareholder returns
TBD
$463M
$614M
$1,539M
Available Liquidity
Share Buy Back
Dividends declared
FY26 Dividend announcement
expected in August 2026
Exploration andcorporate update
14
22 drills operating across the portfolio
Investing in the drill bit
Starlight
x3
Paddy’s Flat
x1
Bluebird-South Junction
x2
x3
Great Fingall
x1
Big Bell
x1 x1
Beta Hunt
x8
Albury Heath & Golden
Shamrock1
x1
16
5
1
UG Diamond Drills
Surface Diamond Drill
Surface RC Drill
Murchison Southern Goldfields
x1
1. MOPP – Murchison Open Pit Program
15
Portfolio simplification brought forward ~$195M1
16
Counter cyclical divestment phase now complete
Meekatharra Hub
Fortnum Hub
Higginsville Hub
1. Calculated as the upfront value of the Mt Henry-Selene divestment at completion of $80M (16 February 2026) plus the value of Westgold’s 44.4% interest in Valiant Gold Limited (ASX: VAL) of ~$48M as at 30 June 2026 plus $54M for the
divestment of Peak Hill (1 July 2026) and $13M in upfront value for the divestment of Chalice (9 July 2026) but excluding $41M in deferred value that may be realised following achievement of milestones at Mt Henry-Selene and Chalice and
the 1.0% NSR payable on future Peak Hill production.
Bigger mills drive stronger economics
Higginsville expansion Studies nearing completion
Higginsville Cue
Meekatharra
Orders placed for long lead items
EPC tender process continues
Low capex option with
potential for rapid payback
Open pit drilling building
case for a larger mill at
Meekatharra
17
Westgold – building value; delivering the plan
All Australian – multi-mine production within a Tier 1 jurisdiction
Four established, profitable processing hubs in Western Australia with ~5.7Mtpa capacity
A leading Australian gold producer
387koz produced in FY26
Strong balance sheet underpinned by exceptional cash flow generation
Debt free with >$1.5B in available liquidity at 30 June 2026
Increasing shareholder returns
Active dividend and share buy-back program. FY26 Dividend / FY27 Guidance in August 2026.
Long life assets underpinned by growing Ore Reserves
3.5Moz in Ore Reserves (at 30 June 2025) - 22 drills operating at the end of FY26
Clear organic growth plan – fully self-funded
Conservative plan to grow gold production to >470koz
FY26 Guidance exceeded: 387koz - ~20% increase on FY25 (326koz) 18
Adebtfree,unhedgedAustraliangold
minerwithmomentum…
www.westgold.com.au 19
Investor Relations
Kasun Liyanaarachchi
Group Manager Investor Relations & Communications
Kasun.Liyanaarachchi@westgold.com.au
+61 458 564 483
Media
Annette Ellis
Manager Corporate Affairs
Annette.ellis@westgold.com.au
+61 458 200 039
Mineral Resource Statement: Operating Mines
Murchison Gold Operations (Rounded for reporting)
Measured Indicated Measured and Indicated Inferred Total
Project
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 5,010 2.51 405 8,216 3.10 819 13,226 2.88 1,224 7,414 2.90 691 20,640 2.89 1,915
Big Bell Cave 6,553 1.09 229 0 0 0 6,553 1.09 229 0 0 0 6,553 1.09 229
Fender UG 111 2.91 10 168 2.62 14 280 2.74 25 157 2.54 13 437 2.67 37
Great Fingall UG 0 0.00 0 2,202 4.25 301 2,202 4.25 301 955 2.96 91 3,157 3.86 392
Golden Crown UG 0 0.00 0 540 5.25 91 540 5.25 91 2,279 3.05 224 2,819 3.47 315
Bluebird Group UG 334 3.94 42 7,251 2.99 697 7,585 3.03 739 6,644 2.59 553 14,229 2.83 1,293
Starlight UG 3,898 3.04 381 2,702 2.65 230 6,600 2.88 611 2,625 3.02 255 9,225 2.92 866
Total 15,906 2.09 1,067 21,079 3.18 2,152 36,986 2.71 3,220 20,075 2.83 1,827 57,060 2.75 5,047
At 30 June 2025[1]
1. See Westgold ASX Announcement dated 3 September 2025 – Resources and Reserve Statement available at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in that
announcement and that all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates in that announcement continue to apply and have not materially changed. Refer to “Ore Reserves and Mineral Resources”section
in slide 3 for the further information.
Southern Goldfields Gold Operations (Rounded for reporting)
Measured Indicated Measured and Indicated Inferred Total
Project
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)
Two Boys 94 5.94 18 256 3.15 26 349 3.90 44 163 5.75 30 512 4.49 74
Lake Cowan 180 1.90 11 129 1.29 5 309 1.65 16 19 1.60 1 329 1.60 17
Beta Hunt 10,435 2.37 795 13,140 2.23 944 23,575 2.29 1,739 39,975 2.27 2,914 63,550 2.28 4,653
Total 10,709 2.39 824 13,525 2.24 975 24,234 2.31 1,800 40,158 2.28 2,944 64,391 2.29 4,744
Beta Hunt Nickel Operation (Rounded for reporting)
Measured Indicated Measured and Indicated Inferred Total
Project
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
20
Mineral Resource Statement: Non-Operating Projects
At 30 June 2025[1]
1. See Westgold ASX Announcement dated 3 September 2025 – Resources and Reserve Statement available at www.asx.com.au.
The Company confirms that it is not aware of any new information or data that materially affects the information included in that
announcement and that all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates in that announcement continue to apply and have not materially changed.
In events subsequent, Westgold divested the Mt Henry-Selene project, which had associated with it a Mineral Resource of 24Mt at 1.2g/t gold for
0.9Moz contained gold and an Ore Reserve of 11.7Mt at 1.3g/t Au for 478,300oz – see ASX announcement titled“Mt Henry-Selene Gold Project Divested for $64.6M" released to the ASX on 17 December 2025 and available at www.asx.com.au. In events subsequent, Westgold
spun out its Reedy and Comet projects, which had associated with it approximately 1.2Moz of JORC-compliant Mineral Resources - Refer to Valiant Gold Limite
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