GREAT WESTERN EXPLORATION LIMITED. — Capital/Financing Update 2021

Apr 13, 2021

ASX Announcement

14 April 2021

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Operations Update

Summary

• RC drilling has now been completed at the Golden Bullock Gold Target, located adjacent to the Youanmi Shear 30km southwest of Sandstone

• The samples are now on their way to the laboratory, with assays results expected in 4–6 weeks

• Drilling at the Finlayson Gold Target, located 70km North of Wiluna, was completed in late March 2021, with assays expected in late April or early May

• Drilling of the highly prospective Copperhead and Taipan copper-gold targets at Copper Ridge anticipated to begin next month

Great Western Exploration Limited (ASX: GTE) (“Great Western” or “the Company”) is pleased to provide an operations update.

Atley North Gold Project (100% Great Western)

Great Western’s RC drilling programme at the Golden Bullock Gold Target has now been completed (Figure 1 and 2).

The Company is now compiling data from field activities and expects assays to be received in mid to late May 2021.

The second stage of exploration across the Golden Bullock Target area will be planned once these assay results have been received.

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Figure 1 Drilling now complete at the Golden Bullock Gold Target

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Figure 2 Tom Ridges (GTE MD) and John Wardell (Geologist – Terra Search) reviewing the RC chips at Golden Bullock

Finlayson Gold Target (100% Great Western)

Great Western’s drilling at the Finlayson Gold Target, 70km North of Wiluna, was completed in late March 2021 (Figure 3).

The drilling intersected a sequence of dolerite and ultramafic with wide zones of shearing and strong alteration that includes sulphides[1] .

Assays are now pending, with results expected in late April to early May 2021.

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Figure 3 Drilling in action at Finlayson Camp Scale Gold Target

1 Drilling Complete at Finlayson as Rig Moves to Golden Bullock – Great Western Exploration (ASX.GTE) – 31/03/2021

Great Western looks forward to providing ongoing updates to shareholders, in what is a period of high intensity exploration activity.

Managing Director Tom Ridges commented: “We are very pleased that we have now completed two of our initial drill programmes for 2021 targeting greenfields gold discoveries. The Company now awaits the assay results. Very shortly we will turn our attention to commencing the Copper Ridge drill programme in May 2021 to test a large copper-gold target.”

Authorised for release by the board of directors of Great Western Exploration Limited.

Tony Walsh Company Secretary Great Western Exploration Limited Tel: 08 6311 2852 Email: enquiries@greatwestex.com.au

Competent Person Statement

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Jordan Luckett who is a member of the Australian Institute of Mining and Metallurgy. Mr. Luckett is an employee of Great Western Exploration Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity 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’. Mr. Luckett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.