Announcement PDF ASX Announcement 22 December 2017 Westgold Strikes Lithium Option Deal with Triton Minerals Westgold Resources Limited (ASX:WGX) (Westgold) is pleased to advise that it has entered into an option agreement with Triton Minerals Limited (ASX:TON) (Triton) to divest Westgold’s package of lithium assets and royalties in Western Australia (Lithium Interests) (Option Agreement). The consideration for the divestment will be 357 million fully paid ordinary shares in Triton (Consideration Shares). Following completion, Westgold expects to distribute a majority of the Consideration Shares on a pro-rata basis to its shareholders. Completion under the Option Agreement is conditional on Triton completing due diligence and obtaining shareholder approval, and Westgold receiving taxation advice to its satisfaction. Westgold Managing Director Peter Cook said: “Westgold is a gold focussed company. This deal crystallises the value of Westgold’s lithium interests for our shareholders providing a substantial bonus for what is an effectively an unrecognised and noncore package of assets inside our gold portfolio. Triton has advanced graphite assets and packaging the lithium and graphite together creates a diversified, multi-commodity resources company. We have patiently watched the emerging battery metal space and believe that diversification across the constituents for the battery industry is our best option. On completion of the overall deal, Westgold shareholders will collectively hold approximately 30% of Triton’s share capital and will have the right to nominate an appointee to the board with the skill set to help steer the company through construction and into production. We have searched the world for a graphite asset that has outstanding potential and would be a good fit with our lithium assets. We are pleased to have been able to reach agreement with Triton and believe this offers our shareholders an excellent opportunity to unlock the value of our lithium interests and gain exposure to expanding graphite markets.” The Lithium Interests include: 1. A royalty of $2 per tonne of ore mined and 1.5% of sales revenue from lithium (and associated minerals) from a portion of Location 53, part of the northern orebody of the Mt Marion Lithium Project owned by Mineral Resources Limited, Gangfeng Lithium and Neometals Limited. The Mt Marion Lithium Project is a globally significant lithium mine. 2. The right to explore and mine lithium (and associated minerals) from the remainder of Location 53, located immediately north of the Mt Marion Lithium Project. A number of immediate exploration targets have been identified by Westgold. 3. The right to explore and mine lithium (and associated minerals) from Location 59, west of the Mt Marion Lithium Project. Westgold has developed an exploration program at Location 59, targeting pegmatite potential in the southern part of the land holding. 4. A royalty of $2 per tonne of ore mined and 1.5% of sales revenue from lithium (and associated minerals) from the Buldania Lithium Project owned by Liontown Resources, located in the southern part of the Eastern Goldfield region, which hosts the Mt Marion and Bald Hill Lithium Projects. Westgold Resources Limited ACN 009 260 306 t: +61 8 9462 3400 | e: reception@westgold.com.au | w: www.westgold.com.au PO Box 7068 Cloisters Square WA 6850 | Level 6, 197 St Georges Tce, Perth WA 6000 Key terms of the Option Agreement are: Exclusivity Option fee Triton has been granted an exclusive option to acquire the Lithium Interests. $10,000. Option period Triton must exercise the Option by 28 February 2018. Due diligence period Triton must complete due diligence on the Lithium Interests on or before the end of the Option Period. The issue to Westgold of 357 million new fully paid ordinary shares in Triton (Triton Consideration Shares) at a deemed issue price of $0.085 per share, for an implied valuation of approximately $30 million. Exercise price If the Option is exercised, the Triton Consideration Shares will represent approximately 31.7% of Triton’s ordinary shares. Triton would have a pro-forma market capitalisation of approximately $100 million. Conditions precedent Board representation Westgold intends to distribute the Triton Consideration Shares to Westgold shareholders by way of an in-specie distribution, meaning that a number of new institutional investors and resources funds will become shareholders of Triton. The exercise of the Option is conditional upon the satisfaction of certain conditions precedent, including Triton completing due diligence and shareholder approval for issue of the Triton Consideration Shares. Westgold will have a right to appoint a non-executive director to the board of Triton. Enquiries Peter Cook Steve Norregaard Rod Corps Managing Director Operations Director Manager – Investor Relations peter.cook@westgold.com.au steve.norregaard@westgold.com.au rod.corps@westgold.com.au Westgold Strikes Lithium Option Deal with Triton Minerals Page 2