WESTGOLD RESOURCES LIMITED (ASX/TSX: WGX) ANNUAL REPORT 2025
WESTGOLD RESOURCES LIMITED A LEADING AUSTRALIAN GOLD PRODUCER Westgold Resources Limited (ASX/TSX: WGX) is a leading, unhedged ASX200 gold producer with a growing portfolio of established mines and processing plants across the Murchison and Southern Goldfields, two of Western Australia’s most prolific gold-producing regions. WWW.WESTGOLD.COM.AU 1 Our Vision and Purpose 1 Our Core Values 2 Letter from the Chair 4 Financial Results 6 Our Annual Outputs 8 Corporate Activity 10 Our Operations 44 Directors’ Report 57 Remuneration Report (Audited) 72 Auditor’s Independence Declaration 73 Consolidated Statement of Profit or Loss and Other Comprehensive Income 74 Consolidated Statement of Financial Position 75 Consolidated Statement of Cash Flows 76 Consolidated Statement of Changes in Equity 77 Notes to the Consolidated Financial Statements 127 Consolidated Entity Disclosure Statement 128 Directors’ Declaration 129 Independent Auditor’s Report 135 Shareholder Information 137 Corporate Directory CONTENTS
1 ANNUAL REPORT 2025 OUR CORE VALUES Our values and behaviours guide how we work with each other, our communities, and stakeholders. They influence our actions and decisions, hold us accountable and ultimately determine our success. OUR VISION AND PURPOSE Westgold’s vision is to become the leading Australian gold company - sustaining safe, responsible and profitable production. We have a clear purpose to unearth enduring value – for our stakeholders, shareholders, people and the communities we operate in. CHOOSE SAFETY – Think safety and act safely – Look out for each other – Protect our environment SHOW RESPECT – Appreciate everyone for who they are and what they contribute – Enable everyone to do a great job – Grow strong teams and communities DELIVER VALUE – Plan to succeed as a team – Execute with excellence – Rise to the challenge and keep on improving
LETTER FROM THE CHAIR A TRULY TRANSFORMATIONAL YEAR A defining year – from gold junior to leading Australian producer Dear Shareholders FY25 has been a truly transformational year for Westgold. Beginning the period as a junior gold producer, we stepped up to the ranks of the ASX200, with a dual listing on the Toronto Stock Exchange (TSX) following the merger with Karora Resources in August 2024. It was a defining transaction. Today, Westgold is one of the country’s leading gold companies with an extensive portfolio of mining and processing operations - and a substantive, 3,200km2 landholding across two of Western Australia’s most prolific goldfields, the Murchison and the Southern Goldfields. In FY25 we delivered record production of 326,384 ounces of gold from this expanded portfolio, closing the year with our strongest balance sheet yet - with $364 million in cash, bullion and liquid investments to fund future growth and value creation. The sector too has had a momentous year, with the Australian gold price increasing by more than 40%. Importantly, Westgold remains unhedged – affording our shareholders full access to the prevailing record-high gold price. We are mindful that what goes up must come down, and our team is determined to drive cost out of our business and focus on operating efficient, higher margin operations that remain profitable at every stage of the price cycle, not just when prices are high. Successful business transformation is not accidental - it is led. I would like to congratulate our leadership and wider team for their enormous effort to combine two sets of operations with their respective cultures, systems and processes – into one integrated high-performing team and business, while delivering record results. In the Southern Goldfields, we invested substantial capital at Beta Hunt to de-constrain and upgrade essential infrastructure to position the operation to deliver > 2Mtpa of mine outputs in the year ahead. In the Murchison, we continue to drill and expand the exciting BluebirdSouth Junction mine at Meekatharra. This is rapidly becoming the key value driver in our Northern business and shows the value that intensive drilling can create. In June 2025, we appointed a large internationally recognised mining contractor to operate our iconic Great Fingall mine. Great Fingall is a high-grade and comparatively simple operation and lends itself to an outsourced model, allowing us to redeploy our team and capital equipment to our larger operations, where they can create greater return on investment. Throughout the year, we demonstrated our commitment to building a long term, sustainable business - investing $43M in exploration and resource development programs across the portfolio. The flow of strong drill results from our largest and emerging mines continued during FY25 – demonstrating the latent value within our existing Mineral Resource base. 2 WESTGOLD RESOURCES LIMITED
Notably, the 2.3Moz maiden Mineral Resource Estimate from the first stage of drilling at the Fletcher Zone at Beta Hunt underpins our belief in the value of this asset, and the prime rationale for the merger. Most importantly, our commitment to safety resulted in a 23% year-on-year reduction in TRIFR to 5.67 per million hours worked, with no material environmental incidents. This is a proud achievement and testament to our leadership and team consistently deciding to “choose safety” every day. That said – we must and will continue our focus on ensuring a physically and psychologically safe workplace for all of our people, while doing all we can to minimise our environmental impact. Looking forward to the year ahead, our team is focused on setting up Westgold’s now expanded asset base for sustainable and consistent high margin production delivered from bigger, more efficient mining operations that leverage existing processing infrastructure. In FY26 we will continue to invest in exploration to extend mine lives across the portfolio, and test our best emerging exploration targets to unlock their inherent value. I would like to thank our Managing Director and CEO, Wayne Bramwell and his excellent leadership team, our employees, contractors and business partners, and not least – our valued shareholders for your continued support and faith in the future of Westgold. Hon. Cheryl Edwardes AO Non-Executive Chair 3 ANNUAL REPORT 2025
4 WESTGOLD RESOURCES LIMITED YEAR END 30 JUNE 2025 FINANCIAL RESULTS
5 ANNUAL REPORT 2025 RECORD GOLD PRODUCTION 326,384oz (FY24: 227,691oz) RECORD REVENUE $1,360m (FY24: $716m) NET CASH FROM OPERATIONS $357m (FY24: $351m) NET PROFIT BEFORE TAX $112m (FY24: $137m) NET PROFIT AFTER TAX $35m1 (FY24: $95m) CLOSING CASH/ EQUIVALENTS $240m (FY24: $236m) PROFIT PER SHARE 3.85cps1 (FY24: 20.1cps) FULL YEAR DIVIDEND 3cps (FY24: 2.25cps) NET ASSETS $1,969m (FY24: $692m) Unless specifically noted, all dollar amounts disclosed in this report are Australian Dollars (A$ or AUD) 1 Lower than the prior year predominantly due to one-off transaction costs
6 WESTGOLD RESOURCES LIMITED YEAR END 30 JUNE 2025 OUR ANNUAL OUTPUTS
7 ANNUAL REPORT 2025 GOLD PRODUCED CASH COST (C1) ALL IN SUSTAINING COSTS MURCHISON OPERATIONS 197,068oz SOUTHERN GOLDFIELDS 129,316oz GROUP 326,384oz MURCHISON OPERATIONS $2,203/oz SOUTHERN GOLDFIELDS $2,368/oz GROUP $2,375/oz MURCHISON OPERATIONS $2,609/oz SOUTHERN GOLDFIELDS $2,752/oz GROUP $2,666/oz
8 WESTGOLD RESOURCES LIMITED YEAR ENDED 30 JUNE 2025 CORPORATE ACTIVITY WESTGOLD AND KARORA MERGER On 1 August, 2024 following receipt of approvals by the Ontario Superior Court of Justice in Canada, Karora shareholders, the Foreign Investment Review Board and the Takeovers Panel - Westgold merged with Canadian TSX-listed Karora Resources Inc. (Karora). The merger created an exclusively Western Australian focussed midtier gold company, with Westgold taking operational control and ownership of the Karora assets – including its 100% interest in the Beta Hunt Mine, its 100% interest in the Higginsville processing and gold mining operations, and its Lakewood processing facility. (Westgold subsequently divested the Lakewood mill on 1 April 2025. The merger propelled Westgold into the ranks of the ASX200, materially enhancing our capital markets profile - with increased scale, trading liquidity and quality attractive to investors across the Australian (ASX) and Canadian (TSX) stock exchanges. Funded through a combination of cash reserves and equity, Karora shareholders received 2.524 Westgold ordinary shares, C$0.68 in cash, and 0.30 of a share in Culico Metals Inc., a wholly owned subsidiary of Karora, for each Karora common share held at the closing of the transaction. Fair value of the share consideration was $1,243 million and cash consideration paid was $126 million. The total consideration for the transaction was $1,369 million. ORE PURCHASE AGREEMENT WITH NEW MURCHISON GOLD On 12 December, 2024 Westgold executed a gold ore purchase agreement (Agreement) with New Murchison Gold (ASX: NMG) in which we agreed to purchase between 30,000 and 50,000 tonnes of gold ore per month from NMG’s planned open pit operation at Crown Prince. On 8 September 2025, subsequent to the reporting period, NMG issued its first Collection Notice for 10kt of Crown Prince ore in accordance with the Agreement, triggering the Commencement Date. The introduction of ore from Crown Prince in FY26 will increase throughput at the Bluebird mill. Westgold is a related party (16%) shareholder of NMG. SYNDICATED FACILITY INCREASED TO $300M On 28 October, 2024 Westgold executed a commitment letter with ING Bank (Australia) Limited and Societe Generale to increase an existing $100M Syndicated Facility Agreement to $300M through the addition of a new $200M facility. The new $200M facility strengthened Westgold’s balance sheet, providing access to $300M of undrawn facilities for general corporate activities. Importantly, Westgold was not required to enter into mandatory gold hedging as part of the new facility. During Q2 we drew down $50 million from the corporate facilities to balance the working capital requirements for operations and growth of our expanded business. This left a balance of $250 million in undrawn capacity. Combined with cash, bullion and liquid investments of $364 million, Westgold ended the financial year with $614 million in available liquidity. SALE OF LAKEWOOD MILL On 1 April, 2025 we divested the Lakewood mill acquired in the merger with Karora Resources, to Black Cat Syndicate Limited (ASX: BC8) for a total consideration of $85M. The consideration comprised $70M in cash and $15M in BC8 scrip issued at $0.76 per share ($1.195 per share as at 16 September 2025). We received $25M in cash on 31 March 2025 and $20M on 30 June 2025, with the final cash payment of $25M due on 30 November 2025. Importantly, Westgold retains priority access to process up to 200ktpa of ore at Lakewood via a toll-treating agreement (for a period of two years). The divestment of Lakewood is consistent with our corporate strategy to focus on our larger, lower-cost mines and mills. Prioritising higher grade Beta Hunt ore through the larger, lower-cost 1.6 Mtpa Higginsville mill will serve to lower the operating costs of our Southern Goldfields Operations.
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Perth 9 Office LEGEND �) Operating mines � Processing plants Western Australia ----, 9 Kalgoorlie r - - - - I ® I I 'Iii!® I L---- 10 WESTGOLD RESOURCES LIMITED OUR OPERATIONS REVIEW OF OPERATIONS RISING TO THE CHALLENGE FY25 was both a transformational year, and a challenging one as we integrated the Southern Goldfields operations into Westgold’s portfolio. Our newly-expanded team took the challenge in their stride, successfully managing the integration while remaining focussed on our core business - delivering safe and profitable ounces. Amidst the complexity of integrating two distinct teams, cultures and geographically dispersed operating hubs – we achieved our highest ever gold production of 326,384oz at an All-In-Sustaining Cost (AISC) of $2,666/oz, and our best safety performance to-date. This result was marginally lower than our revised production guidance (330,000 – 350,000oz). We invested $43M in exploration and resource definition in FY25, delivering significant growth in Westgold’s mineral inventory, net of ounces depleted by mining with our Mineral Resource increasing by 24% to 16.3 Moz (up from 13.2 Moz in FY24) and Ore Reserves lifting by 5% to 3.5 Moz (up from 3.3Moz in FY24). During the year, we brought two new mines into production: the early commencement of operations at Great Fingall in the Murchison region and the initiation of open pit mining at Lake Cowan in the Southern Goldfields. Pleasingly, these efforts also delivered strong returns for our shareholders. With a landholding spanning ~3,200km2 across two of Western Australia’s most prolific gold producing regions, the Murchison and the Southern Goldfields - we have an expansive pipeline of organic growth options and exploration targets to sustain our operations for the next decade and beyond. And, with four profitable mining hubs delivering strong cash flows and our strongest balance sheet yet, we have an unprecedented opportunity to invest in our future – to create enduring value for our shareholders, our people and our host communities.
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REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS 12 WESTGOLD RESOURCES LIMITED The completion of a new ventilation portal and the upgrade of primary fans during the period bolstered mine ventilation, supporting both current operations and future expansion. Looking ahead, planned ventilation upgrades in Q1 and Q3 FY26 will allow Starlight to sustain higher production rates at depth. The Fortnum processing plant also benefited from further investment during the year. The installation of a pebble crusher boosted mill throughput, while a full reline of both the Ball and SAG mills was carried out to maintain processing reliability and efficiency. MEEKATHARRA HUB The Meekatharra operations are located around the regional town of Meekatharra, and include the historic gold mining centres of Meekatharra North, Paddy’s Flat, Yaloginda, Nannine and Reedy’s. The Meekatharra processing hub incorporates the 1.8Mtpa Bluebird processing plant, the BluebirdSouth Junction underground mine, a 420-person village, and associated mining infrastructure required to support mining operations. In FY25, the Bluebird plant processed ore from the Bluebird-South Junction and Fender underground mines, supplemented by inventories of lower grade open-pit and stockpiled surface ore. Bluebird-South Junction is a key growth project in the Meekatharra Hub. Increasing Bluebird-South Junction ore feed to the Bluebird mill, located just 600m from the mine, will reduce haulage and associated costs, and increase feed grade. This will increase both gold production and margins. In FY25 we continued to invest in this opportunity with a plan to ramp-up the mining rate at Bluebird-South Junction from 0.5Mtpa to >1Mtpa. The planned ramp-up during FY25 was slower than anticipated, with challenging conditions encountered in the footwall that required a new mine design to ensure production reliability and safety. Transitioning the mine design to a predominantly longitudinal method significantly reduces reliance on development in the ultramafic host rock, and development overall – while retaining the long-term production profile. While this adjustment delayed the proposed ramp-up in the short term, particularly in the first half of FY25, mining rates had increased by the end of the period and will continue to increase in FY26 as South Junction expands. In preparation for higher mining rates, a substantial primary ventilation upgrade was undertaken during the year, together with the establishment of a paste fill plant. The majority of this infrastructure has now been fully commissioned. CUE HUB The Cue Hub is located around the regional town of Cue. This package includes two of Australia’s most iconic mines – Big Bell and Great Fingall. The Cue Hub incorporates the 1.4Mtpa Tuckabianna processing plant, a 148-person village at Big Bell, a 266-person village at Cue and associated mining infrastructure to support mining operations. In FY25, the Tuckabianna plant processed ore from the Big Bell underground mine, with supplementary feed from the Great Fingall and Fender underground mines and surface stockpiles. MURCHISON OPERATIONS Our Murchison operations comprise three processing hubs (Fortnum, Meekatharra and Cue) and five underground mines (Starlight, Bluebird-South Junction, Great Fingall, Big Bell, Fender) in Western Australia’s Mid West region. In FY25 gold output from our Murchison operations was 197,068 ounces of gold, at an AISC of $2,609/oz – representing 60% of Group production. FORTNUM HUB Westgold’s Fortnum Hub is located approximately 140km north of Meekatharra and encompass the 0.9Mtpa Fortnum processing plant and the Fortnum, Horseshoe and Peak Hill mining areas. The Starlight underground mine is currently the predominant feed source (90% of all processed tonnes with the additional 10% of ore sourced from surface stockpiles) to the Fortnum processing hub. It was a stellar year for Starlight – with investment in mine development, key infrastructure and a new haulage fleet positioning the mine for future growth. By the end of the period, ore volumes had increased by 34% quarter-onquarter, as the newly-developed access to multiple work areas and high-grades, especially in the Nightfall and Galaxy zones delivered improved output.
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14 WESTGOLD RESOURCES LIMITED GREAT FINGALL UNDERGROUND MINE In FY25 development at Great Fingall progressed to plan, with a dual focus on decline development towards the deeper, higher-grade production zones, and installing key dewatering and ventilation infrastructure. Simultaneously with project development, alternate early mining studies informed the viability of commencing early mining of the Great Fingall Flats in the March quarter. This shallow opportunity fell outside the scope of the original feasibility study which focussed on mining the deeper, higher grade virgin stopes. The stockwork mineralisation in the selvedge of the old mine workings is expected to repeat at depth, and will be drilled along with numerous other targets in FY26. On 26 June 2025, following a competitive process, global mining contractor, Barminco Limited was awarded a three-year underground mining contract for Great Fingall, with mobilisation completed in Q1 FY26. The appointment leverages Barminco’s underground mining expertise and allowed the Great Fingall team and equipment to be redeployed to some of Westgold’s bigger operations. BIG BELL UNDERGROUND MINE In FY25, production at Big Bell focussed initially on mining the Sub-Level Cave, before an asset review in Q2 identified a lowcost opportunity to recommence transverse caving and draw from existing drawpoints in the upper levels of the cave. The combination of the Lower Cave and Upper Cave mining substantially increased ore availability and provided an opportunity to pause the Big Bell Deeps expansion and take advantage of the significant material within the Upper Cave area. Historical Great Fingall Mine office OUR OPERATIONS REVIEW OF OPERATIONS (CONTINUED)
15 ANNUAL REPORT 2025 Given the Upper Cave’s increasing importance to the medium-term plan, drilling was reintroduced in this area of the mine, providing the data required for consistent and elevated rates of profitable production into FY26. The results highlighted the significant opportunity that exists in the Upper Cave; which is independent from the Lower Cave, located higher in the mine, and critically, already developed and ready to mine. FENDER UNDERGROUND MINE During the year, the Fender underground mine maintained consistent ore production, delivering higher grade feed to supplement the Tuckabianna and Meekatharra processing facilities. Fender continues to deliver supplementary ore feed to Meekatharra and Tuckabianna, and further extensional drilling is forecast for FY26 to sustain production from this strategic, low-cost operation that provides flexibility across the region.
REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS 16 WESTGOLD RESOURCES LIMITED SOUTHERN GOLDFIELDS OPERATIONS HIGGINSVILLE HUB Westgold’s Higginsville Hub is located at Higginsville, Western Australia and includes a 1.6Mtpa processing plant and associated processing infrastructure. The mill processes ore from the large Beta Hunt underground mine at Kambalda 80km to the north, and the smaller Two Boys underground mine at Higginsville. Open pit mining at Higginsville has recently recommenced at Lake Cowan, with these pits providing a softer oxide ore source to the mill. Image caption to go here
17 ANNUAL REPORT 2025 BETA HUNT UNDERGROUND MINE Following the merger, our primary focus was to swiftly identify and address key risks and opportunities across the Southern Goldfields operations. Early activities included deploying additional safety and operational management to support the site teams; and expediting remedial maintenance of basic mine infrastructure - while developing a comprehensive infrastructure replacement and upgrade plan focussing on primary electrical, ventilation, and water distribution networks. Key enablers to higher mine productivity included investment in a clean mine water supply, upgrades to underground pumping, power, ventilation, and facilities for our workforce. Progressive application of these has resulted in notable improvements to mining rates since Westgold’s ownership at Beta Hunt. The mine water supply project was completed during the year. Ventilation upgrades experienced minor delays, with fan commissioning occurring in late July and early August - subsequent to the reporting period. The power supply upgrade project is now also complete, establishing reliable power with increased capacity to sustain future growth. Collectively, these critical investments position Beta Hunt to consistently deliver run rates exceeding 2Mtpa in the medium term. TWO BOYS UNDERGROUND MINE During the past year, the Two Boys underground mine sustained steady output with our team focussing on improving planning to extend the life of the operation. Early in the year, the team completed upgrades to the primary ventilation system to support ongoing development and extend the mine beyond its original closure date. Development continues to advance northward, establishing new drilling horizons and access to the Poseidon South zone of the nearby Trident Mine – an example of the incredible optionality our team is unearthing across Westgold’s considerable landholding. LAKE COWAN OPEN PIT Mining at the Lake Cowan open pits commenced in early Q4 FY25 with open pit contractor Mineral Mining Services Pty Ltd having mobilised in April. With the pre-strip completed, ore production is expected to peak in Q1 FY26 prior to the pit completion at the end of the quarter. Excess soft oxide Lake Cowan ore will be stockpiled and processed over the course of FY26. Beta Hunt Infrastructure Upgrade
18 WESTGOLD RESOURCES LIMITED OUR OPERATIONS REVIEW OF OPERATIONS (CONTINUED)
19 ANNUAL REPORT 2025 EXPLORATION At Westgold we maintain and operate our own fleet of drill rigs with 16 to 19 rigs operating across our portfolio at any given time. Operating our own fleet gives us the option and agility to respond more rapidly to opportunities in line with our strategic priorities, with substantive year-on-year investment in both resource definition and exploration drilling (FY25: $43M) underpinning our sustainable growth and value creation. RESOURCE DEFINITION DRILLING – A STRATEGIC PRIORITY Resource definition drilling is a core operational activity at all major Westgold mines. This drilling is used to update geological models, refine stope designs, and support ongoing mine planning. The results are regularly incorporated into resource and reserve estimates, which are critical to inform and sustain production, as well as for forecasting and capital investment decisions. MURCHISON OPERATIONS Fortnum Hub – Starlight Underground Mine Following two years of nearcontinuous drilling, in November 2024 Westgold increased the Mineral Resource Estimate (MRE) of the mineralised system at Starlight by 91%. This increase formed the basis for a Scoping Study on the Fortnum Expansion Project, envisaging an expanded,1.5Mtpa operation at Fortnum, over a ten year life. Meekatharra Hub – BluebirdSouth Junction Underground Mine At Bluebird–South Junction, sustained drilling has resulted in a 240% increase in the Mineral Resource Estimate and a doubling of Ore Reserves in 18 months. The drilling has targeted both infill and extensional areas, enabling us to update mine plans and optimise stope design, and also supported investment decisions for mine infrastructure and processing capacity. Cue Hub - Great Fingall Underground Mine – Sovereign Zone With the initial production milestone reached at Great Fingall, our team stepped up drilling, with multiple rigs defining and infilling early production areas from the Golden Crown and Great Fingall virgin stopes, as well as advancing opportunities outside of the current mine plan in areas such as the Sovereign Reef. Results reinforced the high-grade nature of Golden Crown, and the significant exploration upside of the wider mine complex. A third drill rig is planned to be deployed into Great Fingall in Q1, FY26 to follow up the success of the FY25 campaign.
OUR OPERATIONS 20 WESTGOLD RESOURCES LIMITED SOUTHERN GOLDFIELDS Higginsville Hub – Beta Hunt Underground Mine – Fletcher Zone The definition of a maiden Mineral Resource for the Fletcher Zone at Beta Hunt in under a year, demonstrates Westgold’s strategic resource definition drilling priority and agility. In 10 months, we designed and completed an aggressive drilling campaign that delivered a maiden Mineral Resource Estimate of 2.3 million ounces, notably from just half (~1 km) of the known Fletcher Zone strike length, and over double the mid-point of the original Stage 1 Exploration Target of 0.8 – 1.2Moz. This was an outstanding result that underpins our confidence in the quality and ongoing potential of the Beta Hunt asset, and confirms Fletcher as a major mineralised zone and future mining front within the Hunt Block. The drilling confirmed the structural analogy between Fletcher and the established Western Flanks and A Zone deposits. It provides additional optionality for mine planning and supports the long-term production outlook for Beta Hunt. Higginsville Hub – Two Boys Underground Mine The completion of the ML70 diamond drill drive at Two Boys early in the year was a key milestone, enabling both grade control and extensional drilling. Fourteen holes were drilled as part of Westgold’s first program, with results from three indicating further resource potential and the possibility of extending mine life. Throughout the year, performance at this small but consistent operation continued to improve, delivering increased tonnes and higher grades. The grade control drilling enabled more robust mine planning, and by the end of the year, production had risen by 23% in the final quarter. The updated mine plan now provides a clear 15-month outlook and supports continued growth. REVIEW OF OPERATIONS (CONTINUED)
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REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS 22 WESTGOLD RESOURCES LIMITED GREENFIELDS EXPLORATION With a footprint of more than 1,200km2 across the Murchison, and since this year, an additional 2,000km2 in the Southern Goldfields – Westgold has an expansive exploration portfolio presenting significant opportunities for new discoveries. Following the merger with Karora, our team undertook a comprehensive review to refine our target pipeline to incorporate the expanded exploration footprint. A number of greenfield activities which were already in train in the Murchison region progressed as planned during the year - with multiple targets tested and a clear process in place for followup and reprioritisation based on drilling outcomes and geological assessments. In the Southern Goldfields, greenfield targeting was refined and drill testing commenced. In addition, a large piece of work was completed at Beta Hunt, where modern 3D exploration focused geological modelling was undertaken to support identification and advancement of new targets. Heritage and access considerations are consistently incorporated into the planning process, ensuring that exploration activities proceed efficiently and in accordance with regulatory and community expectations. SUMMARY TABLE: FY25 GREENFIELDS EXPLORATION BY REGION AND PROJECT Region Project/Area Activities and Progression Murchison Nannine, Labouchere AC drilling (Sep 2024) with follow-up RC drilling (Dec 2024) and ongoing prioritisation and planning (Mar–Jun 2025) Mountain View, Champion RC drilling (Sep–Dec 2024) delivered encouraging results; further assessment ongoing. Peak Hill, Five Ways, Murphy Creek RC and AC drilling (Sep 2024–Jun 2025); completion of programs; results pending/follow-up planned. Reedy, Jubilee, Meekatharra North New programs commenced or planned (Jun 2025); results pending or in planning. Southern Goldfields Beta Hunt (Mason Target) 3D exploration model built (Dec 2024); Mason Target prioritised for drilling (Mar–Jun 2025) Higginsville (Erin, Bandido, Spargos, Vines– Erin, Barcelona) RC and diamond drilling (Dec 2024–Jun 2025) with mixed results. Some targets discontinued, others results pending or next steps in planning,
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GEARING FOR GROWTH Westgold is an unhedged gold producer with four operating hubs across two of Western Australia’s most productive goldfields. Our corporate strategy is to leverage our portfolio and focus on our larger, lower-cost mines and mills to create sustainable, long-term value for our shareholders. A number of growth opportunities were progressed during the period under review to give effect to this strategy. 24 WESTGOLD RESOURCES LIMITED Higginsville Processing Plant REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS
25 ANNUAL REPORT 2025 HIGGINSVILLE EXPANSION PLAN On 28 April, 2025 we announced a Scoping Study into the potential expansion of the existing 1.6Mtpa Higginsville Processing Plant to 2.6Mtpa - reducing the operating cost per tonne of this large facility that can be further expanded as resource opportunities grow, not least ahead of plans to sustain a mining rate of >2Mtpa at Beta Hunt. With a modest mid point capital outlay of ~A$92M largely offset by the A$85M sale of the Lakewood Mill, the Study is financially compelling, indicating: – A mid point IRR of 37%, and mid point payback of 2.1 years assuming a conservative gold price of $3,200/oz. – An increase in steady state gold production at Higginsville from 87kozpa to between 122kozpa and 160kozpa (at the historic 1 August 2024 Ore Reserve grade of 1.9g/t ) – A reduction in current processing costs from ~36$/t to ~33$/t; and reduction in the Southern Goldfields mid-point AISC of ~A$142/oz. Based only on 2024 Reserves, the Study does not incorporate any debottlenecking or improvements currently in progress at the plant. A detailed engineering study is underway to improve the order of accuracy of the 2.6Mtpa expansion case to support a financial investment decision in FY26. CASE STUDY
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27 ANNUAL REPORT 2025 The following pages are intended as a snapshot. For details of our Environment, Social and Governance programs and performance for FY25 – see Westgold’s FY25 Annual Sustainability Report: https://westgold.com.au/esg/sustainability-reports SUSTAINABILITY In our year in review, we framed Westgold’s Purpose Statement: To Unearth Enduring Value. “Enduring Value” speaks to our commitment to sustaining safe, responsible gold production, and we understand this means different things for different stakeholders. For our shareholders, it means we deliver longer-life, lower cost operations to sustain growth in the value of their ownership, and competitive returns on their investment. For our people, it means we support life-long learning and personal growth, respect individual contribution and act responsibly to safeguard physical and mental wellbeing in our workplaces. For our host communities, it means we take reasonable steps to mitigate the impact of our operations on the natural environment, and through action, not rhetoric, demonstrate respect for the enduring culture of the Traditional Custodians of the lands on which we operate. Our sustainability vision is to minimise our environmental footprint, contribute positively to society, and uphold strong governance practices. Our approach is governed by our Environmental, Social and Governance (ESG) Framework – a suite of materiality-informed policies, standards and systems – with oversight from the Board.
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29 ANNUAL REPORT 2025 SAFETY PEOPLE HEALTH AND SAFETY In FY25, we continued to embed Westgold’s first core value: Choose Safety, across all operations through the full implementation of our Safety Management System (SMS) – aligned with ISO 31000 and the Workplace Health and Safety Act (2020). This system has strengthened hazard management and operational discipline, contributing to a 17% reduction in Total Recordable Injury Frequency (TRIFR) and a 37% reduction in Lost Time Injury Frequency Rate (LTIFR), with zero fatalities recorded across the Group. While this result is encouraging, we are not complacent, and remain committed to further improving our safety programmes and performance. The rollout of the Critical Risk Program empowers our people to proactively identify and manage life-threatening hazards; while strong participation in safety committees and toolbox talks continues to reinforce a culture of shared responsibility for safety – our own, and the safety of everyone around us. In FY25, Westgold transitioned its training operations to the new Maddington Training Centre – a purpose-built facility designed to enhance learning, operational readiness, and onboarding through expanded classrooms, high-risk licensing areas, and an industryunique Underground Training Simulator. The centre also supports community engagement through school visits and outreach, while building a confident, capable workforce to drive the sustainable growth of Westgold’s operations. 0.62 1.00 0.98 0.78 0.39 6.85 7.37 6.85 6.27 5.67 0 5 10 15 20 0 3 6 9 12 Total Recordable Injury count 12 Month rolling Injury Frequency Rate (injuries/million hours worked) Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 -17% Recordable Injuries* 12 Month LTIFR 12 Month TRIFR
REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS 30 WESTGOLD RESOURCES LIMITED WELLBEING Westgold’s wellbeing strategy was advanced through the implementation of our Wellbeing Framework, which focuses on designing healthy work environments, managing psychosocial risks, and promoting holistic wellbeing. Key initiatives included the continuation of our partnership with Strong Minds, Strong Mines to provide mental health and wellbeing training tailored for workers in remote mining environments, expansion of our Wellbeing Champion and Peer Support Group to 48 trained members, and the introduction of our Wellbeing Calendar to provide health and wellbeing education for our workforce. We undertook 42 Psychosocial Interactive Risk Assessments across our sites to inform our ongoing approach and continue to track and investigate all incidents. In FY25 we launched the Respect Hotline, a confidential channel for employees and contractors to raise concerns about bullying, harassment or discrimination.
31 ANNUAL REPORT 2025 ENVIRONMENT Following Westgold’s merger with Karora Resources at the start of the year – we focused on integrating our group-wide environmental management systems and enhancing compliance across our expanded operating footprint. We began to realise the full operational and environmental benefits of Westgold’s hybrid power installations in FY25. The solar-gas and battery storage systems are central to our efforts in reducing Scope 1 and 2 emissions across our operations collectively reducing over 50,000 tonnes of CO2e in the year, while generating $7.1 million in cost savings and enhancing operational resilience. No significant environmental fines or sanctions were recorded during the year. One significant incident – a tailings spill at Higginsville – was promptly managed and remediated in close collaboration with regulators. Read about our initiatives in the past year in our FY25 Sustainability Report, including the development of Westgold’s Climate Change Action Plan, advancements in our hydrogeological assessments for water management, our approach to tailings management and the expansion of our rehabilitation programs.
32 WESTGOLD RESOURCES LIMITED OUR OPERATIONS REVIEW OF OPERATIONS (CONTINUED)
33 ANNUAL REPORT 2025 COMMUNITY We continued to demonstrate Westgold’s commitment to communities – through a targeted and valuesdriven social investment program that aligns with our communities’ needs. Guided by four strategic pillars – Youth & Education, Health & Wellbeing, Training & Employment, and Community Activation – we contributed $271,534 in direct support to our community partners and for initiatives across the Murchison and Southern Goldfields regions. This includes support for the Carey Right Track Program, breakfast programs at Cue and Meekatharra schools, youth engagement through Blue Light PCYC, student visits to our Madington Training Facility, and support for local events such as the Meekatharra Outback Festival. We continued ourpartnerships with the Royal Flying Doctor Service and Teach Learn Grow, with threeyear commitments to each of these organisations for greater impact. We also continued to strengthen our relationships with Traditional Owners through formal agreements, engagement and cultural heritage protection. These efforts reflect Westgold’s broader ESG strategy and our belief that strong, resilient communities are essential to long-term operational success. IN THE LOOP In line with our commitment to creating enduring value and reducing environmental impact, we partnered with Loop Upcycling to repurpose redundant uniforms. Loop provides innovative circular solutions that not only divert textiles from landfill – 193kg in FY25 – but also support social enterprises that empower First Nations people, individuals with disabilities, those experiencing homelessness, victims of domestic abuse, mature-age workers, migrants, and refugees. Through this partnership, 414 garments, otherwise destined for landfill, were transformed into 500 upcycled products, including teddy bears made from Westgold’s retired uniforms. These teddy bears are now used in Westgold’s community engagement efforts, symbolising care and connection while reinforcing our values of sustainability, inclusion, and local impact. CASE STUDY
REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS 34 WESTGOLD RESOURCES LIMITED MINERAL RESOURCES & ORE RESERVES
35 ANNUAL REPORT 2025 Westgold released its annual update of Mineral Resource and Ore Reserve Estimates on the ASX on 3 September 2025. Shareholders should refer to that announcement for full detail including JORC 2012 appendices. The tables below summarise them by operational area: Table 1 – Gold Mineral Resource Estimates at 30 June 2025 for Westgold Operating Mines. MURCHISON GOLD OPERATIONS MINERAL RESOURCES STATEMENT -ROUNDED FOR REPORTING 30/06/2025 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 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 SOUTHERN GOLDFIELDS GOLD OPERATIONS MINERAL RESOURCES STATEMENT – ROUNDED FOR REPORTING 30/06/2025 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) 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
REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS 36 WESTGOLD RESOURCES LIMITED Table 2 – Gold Mineral Resource Estimates at 30 June 2025 for Westgold Non-Operating Projects. MURCHISON GOLD OPERATIONS MINERAL RESOURCES STATEMENT – ROUNDED FOR REPORTING 30/06/2025 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 District 38 2.82 3 771 2.61 65 809 2.62 68 1,843 2.94 174 2,652 2.84 242 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 1,054 1.99 68 1,112 1.98 71 1,036 1.82 60 2,148 1.90 131 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 83 2.76 7 3,648 0.71 83 3,731 0.75 90 0 0.00 0 3,731 0.75 90 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 2.62 4 4,237 1.48 202 4,290 1.50 206 5,808 1.38 257 10,098 1.43 463 Bluebird Stockpiles 132 3.13 13 0 0.00 0 132 3.13 13 0 0.00 0 132 3.13 13 Fortnum District 1,707 2.56 141 4,062 1.89 246 5,769 2.09 387 1,172 1.44 54 6,942 1.98 441 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 559 1.01 18 481 0.69 11 1,039 0.86 29 16 0.54 0 1,056 0.86 29 Total 3,857 2.64 328 42,937 1.75 2,421 46,794 1.83 2,749 27,572 2.11 1,873 74,365 1.93 4,622 SOUTHERN GOLDFIELDS GOLD OPERATIONS MINERAL RESOURCE STATEMENT – ROUNDED FOR REPORTING 30/06/2025 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) HGO Central 931 2.94 88 2,442 2.74 215 3,373 2.80 303 1,519 2.91 142 4,892 2.83 445 HGO Greater 414 3.16 42 2,871 2.78 257 3,286 2.83 299 2,128 2.29 157 5,414 2.62 456 Mt Henry 11,042 1.19 424 10,172 1.16 378 21,214 1.18 802 2,565 1.28 106 23,779 1.19 907 HGO Stockpiles 1,162 0.77 29 276 0.74 7 1,439 0.77 36 0 0.00 0 1,439 0.77 36 BHO Stockpiles 9 1.88 1 0 0.00 0 9 1.88 1 0 0.00 0 9 1.88 1 Total 13,559 1.34 583 15,761 1.69 856 29,320 1.53 1,440 6,212 2.03 405 35,532 1.61 1,844
37 ANNUAL REPORT 2025 Table 3 – Nickel Mineral Resource Estimates at 30 June 2025 for Beta Hunt. BETA HUNT NICKEL OPERATIONS MINERAL RESOURCE STATEMENT – ROUNDED FOR REPORTING 30/06/2025 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 Table 4 – Gold Ore Reserves at 30 June 2025 for Westgold Operating Mines. MURCHISON GOLD OPERATIONS ORE RESERVE STATEMENT – ROUNDED FOR REPORTING – 30/06/2025 Proven Probable Total Operating Mine Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell UG 4,997 1.71 275 4,776 2.90 446 9,773 2.29 720 Big Bell Cave 6,553 1.09 229 0 0 0 6,553 1.09 229 Great Fingall UG 0 0.00 0 1,951 3.51 220 1,951 3.51 220 Golden Crown UG 0 0.00 0 413 3.26 43 413 3.26 43 Bluebird Group UG 154 3.65 18 6,080 2.61 510 6,234 2.64 528 Starlight UG 1,534 2.81 138 1,444 2.41 112 2,977 2.61 250 Total 13,238 1.55 661 14,664 2.82 1,331 27,902 2.22 1,992 SOUTHERN GOLDFIELDS GOLD OPERATIONS ORE RESERVE STATEMENT – ROUNDED FOR REPORTING – 30/06/2025 Proven Probable Total Operating Mine Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Lake Cowan 187 1.50 9 0 0.00 0 187 1.50 9 Beta Hunt 2,137 2.32 160 3,520 2.06 233 5,656 2.16 393 Total 2,324 2.26 169 3,520 2.06 233 5,844 2.14 402
REVIEW OF OPERATIONS (CONTINUED) OUR OPERATIONS 38 WESTGOLD RESOURCES LIMITED Table 5 – Gold Ore Reserves at 30 June 2025 for Westgold Non-Operating Projects. MURCHISON GOLD OPERATIONS ORE RESERVE STATEMENT – ROUNDED FOR REPORTING – 30/06/2025 Proven Probable Total Project Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell District 0 0.00 0 75 2.76 7 75 2.76 7 Cuddingwarra 0 0.00 0 242 1.44 11 242 1.44 11 Day Dawn District 0 0.00 0 14 1.83 1 14 1.83 1 Tuckabianna 0 0.00 0 845 2.69 73 845 2.69 73 Tuckabianna Stockpiles 83 2.76 7 3,648 0.71 83 3,731 0.75 90 Nannine 0 0.00 0 262 1.93 16 262 1.93 16 Paddy's Flat 48 4.10 6 435 3.86 54 483 3.88 60 Reedy's 57 3.35 6 398 3.42 44 455 3.41 50 Bluebird Stockpiles 132 3.13 13 0 0.00 0 132 3.13 13 Fortnum District 0 0.00 0 429 1.85 26 429 1.85 26 Horseshoe 0 0.00 0 357 2.18 25 357 2.18 25 FGO Stockpiles 559 1.01 18 481 0.69 11 1,039 0.86 29 Total 879 1.81 51 7,187 1.51 350 8,066 1.55 401 SOUTHERN GOLDFIELDS GOLD OPERATIONS ORE RESERVE STATEMENT – ROUNDED FOR REPORTING – 30/06/2025 Proven Probable Total Project Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) HGO Central 132 2.19 9 513 3.01 50 645 2.84 59 HGO Greater 258 2.35 19 1,143 3.14 116 1,401 3.00 135 Mt Henry 7,208 1.29 299 3,622 1.37 160 10,830 1.32 459 HGO Stockpiles 1,162 0.77 29 276 0.74 7 1,439 0.77 36 BHO Stockpiles 9 1.88 1 0 0.00 0 9 1.88 1 Total 8,768 1.27 357 5,554 1.85 331 14,323 1.49 688
39 ANNUAL REPORT 2025 EXPLORATION RESULTS AND MINERAL RESOURCES ESTIMATES The information in this release that relates to 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 the Company 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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”) and as a Qualified Person as defined in the CIM Guidelines and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Russell is an employee of the Company and, accordingly, is not independent for purposes of NI 43-101. Mr Russell consents to and approves the inclusion in this release 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 the company. The Mineral Resource Estimates contained herein have an effective date of 30 June 2025 and was completed by Westgold technical employees and contractors under the supervision of Mr Jake Russell. The key inputs and assumptions are provided in Appendix C to this release including Section 1 – Sampling Techniques and Data, Section 2 – Reporting of Exploration Results, Section 3 – Estimation and Reporting of Mineral Resources and Section 4 – Estimation and Reporting of Ore Reserves. ORE RESERVES The information in this release that relates to Ore Reserve is based on information compiled by Mr. Leigh Devlin B.Eng. FAusIMM, 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 an employee of the Company and, accordingly, is not independent for purposes of NI 43-101. Mr. Devlin consents to and approves the inclusion in this release 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 the Company and is eligible to and may participate in short-term and long-term incentive plans of the Company as disclosed in its annual reports and disclosure documents. COMPETENT/QUALIFIED PERSON STATEMENTS DISCLAIMER Westgold Resources Limited has prepared this report based on information available to it. 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 report. To the maximum extent permitted by law, none of Westgold Resources Limited, 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 Report or its contents or otherwise arising in connection with it. Nothing in this report is or is to be taken to be an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this report nor anything in it or referenced within it shall form the basis of any contract or commitment whatsoever. FORWARD LOOKING STATEMENTS These materials prepared by Westgold Resources Limited include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “believe”, “forecast”, “predict”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control. Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. In addition, the Company’s actual results could differ materially from those anticipated in these forward looking statements as a result of the factors outlined in the “Risk Factors” section of the Company’s continuous disclosure filings available on SEDAR+ or the ASX, including, in the Company’s current annual report, half year report or most recent management discussion and analysis. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances.
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