SSH GROUP LTD — Capital/Financing Update 2026

Feb 8, 2026

ASX Release

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Date 9[th] February 2026

Gold Duke Project

Pre Mining Works Letter of Award, DWER Approval and Mine Operator Appointed

Highlights:

• Letters of Award executed with SSH Mining Australia Pty Ltd (subsidiary of SSH Group Ltd (ASX:SSH)) to commence pre-mining works at the Gold Duke Project, including clearing, grubbing and site establishment.

• Organisation of earthmoving equipment and site establishment activities underway, supporting the planned transition into mining operations.

• SSH Mining has been appointed with LGIRS as the Mine Operator as part of a Turn Key Solution for the Gold Duke Project.

• Contract executed with Pennington Scott Pty Ltd and Delta Consultancy & Drilling Services Pty Ltd for the construction of the Bower Bird Water Bore, delivering a dedicated water supply to support all mining activities and dust suppression.

• Early works advance operational readiness and materially de-risk the planned Q1 2026 mobilisation and production schedule.

• Activities follow the Board’s Decision to Mine and represent continued execution of WGR’s capital-efficient development strategy at Gold Duke.

• The Company is currently assessing the potential to increase the life of mine at Gold Duke.

Managing Director Cullum Winn commented:

“These early works mark a critical transition from planning into execution at Gold Duke. Commencing clearing, grubbing and site establishment, in particular open pits, waste dumps and haul roads plus water infrastructure development provides a strong foundation for mining operations and significantly de-risks our mobilisation schedule.

Gold Duke continues to advance in line with our Decision to Mine and capital-efficient development strategy whilst also assessing options to increase the life of mine at Gold Duke.”

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Western Gold Resources Limited (ASX: WGR) (“WGR” or “the Company”) is pleased to announce the execution of key pre-mining contracts supporting mobilisation and site establishment at its 100%-owned Gold Duke Project in Western Australia.

The Company has executed Letters of Award with SSH Mining to commence site establishment works, including clearing, grubbing, open pits, lay down areas and haul road delineation, and has also awarded a contract to Pennigton Scott Pty Ltd for the drilling of the Bower Bird Water Bore , a critical component of early mining and Life of Mine (LOM) dust-suppression infrastructure.

These activities represent another important step in transitioning Gold Duke from development into operational readiness, following the Board’s Decision to Mine announced in December 2025 [1] .

SSH Mining Appointed as Mine Operator and Awarded Site Establishment, Clearing and Haul Road Construction Works

Western Gold Resources Limited (WGR) has executed Letters of Award with SSH Mining Australia Pty Ltd, a wholly owned subsidiary of SSH Group Ltd (ASX: SSH), to undertake early site establishment works at the Gold Duke Project.

As part of a broader mining development for the project, SSH Mining has been appointed, in conjunction with LGIRS, as Mine Operator for the Gold Duke Project, supporting WGR’s strategy to progress the Project efficiently toward production.

The scope of early works to be undertaken by SSH Mining includes:

• Clearing and grubbing across approved mining and infrastructure footprints;

• Initial delineation and construction of haul road alignments to support mining operations and ore haulage to Wiluna Mining Corporation’s processing facility;

• Establishment of site access, laydown areas, Run of Mine (ROM) pads, waste dump delineation and initial operational work fronts; and

• Organisational planning and mobilisation of early earthmoving and support equipment to site.

These early works are consistent with the Company’s previously announced intention to appoint SSH Mining as its Mine Operator for the Gold Duke Project, subject to the execution of a final Master Services Agreement (MSA) [ 2] .

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The engagement enables critical civil and mining support activities to progress in parallel with final commercial negotiations, materially de-risking the planned Q1 2026 mobilisation and production schedule.

The SSH Mining team brings extensive experience in Western Australian gold mining operations and has been closely involved in pre-mobilisation planning, grade control execution and mine planning activities at Gold Duke. This early appointment aligns with the Company’s capital-efficient development strategy and supports a streamlined transition into mining operations.

Water Infrastructure – Bower Bird Bore

WGR has also executed a contract with Pennington Scott Pty Ltd and Delta Consultancy & Drilling Services Pty Ltd to undertake the construction of the Bower Bird Water Bore , delivering a dedicated water supply to support ongoing mining activities at the Gold Duke Project.

Water from the Bower Bird bore will be used primarily for:

• Dust suppression associated with all mining activities

• Haul road and ROM pad dust management

• Early site establishment and operational support

The scope of works includes drilling, construction, supervision and pump testing of a new production bore, providing a reliable and fit-for-purpose water source aligned with the Company’s approved mining plans and operational requirements.

The contract represents a standalone, turn-key water infrastructure solution that supports early mining operations and integrates with the broader water management strategy for the Gold Duke Project.

Operational Readiness Advancing

The execution of these early-works contracts further advances Gold Duke toward full site mobilisation and mining commencement and complements the Company’s broader development milestones, including:

• Receipt of all key mining approvals.

• A binding toll-milling agreement with Wiluna Mining Corporation. [3]

• Selection of a preferred mining contractor with a deferred payment facility.

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• A fully funded pathway through to production.

With clearing, haul road construction and water infrastructure works to commence, Gold Duke continues to progress toward mining operations in line with the Company’s development timetable.

Figure 1 below shows the mine design locations and route to Wiluna Mining Corporation’s milling facilities.

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Figure 1: Gold Duke site layout, pit designs for the Eagle, Emu, Golden Monarch and Gold King deposits, and the haulage route to Wiluna Mining Corporation’s Milling facilities.

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Next Steps

• Clearing, grubbing and haul road construction activities

• Complete Bower Bird Bore drilling and commissioning

• Progress site establishment and operational readiness

• Finalise mining services agreement

• Commence mining and advance toward first gold production targeted for Q1 2026

• Plan and execute Life of Mine ( LOM ) extensions to fast track expected addition ounces into the project.

AUTHORISED FOR RELEASE BY THE COMPANY'S BOARD OF DIRECTORS

For further information contact:

Cullum Winn Gary Lyons Managing Director Chairman E: cullumw@westerngoldresources.com.au E: gary@garylyons.com.au

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Competent Person’s Statement

The information in this announcement relating to the Grade Control Drilling and Exploration Results is based on the information compiled by Mr. Richard Bray, a Registered Professional Geologist with the Australian Institute of Geoscientists and an employee of the Company. With over 35 years of experience in the gold mining industry, particularly in resource estimation, Mr. Bray possesses the relevant expertise in the style of mineralisation, type of deposit, and nature of the activities being undertaken 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 (JORC Code). Mr. Bray does not hold any securities in WGR and consents to the inclusion of this information in the form and context in which it appears.

Previously Reported Results

This announcement includes information previously reported to the ASX. The Company confirms that it is not aware of any new information or data that materially affects the information included in those original announcements, and that all material assumptions and technical parameters underpinning the previously announced Scoping Study, Mineral Resource Estimates and Exploration Results continue to apply and have not materially changed. The relevant JORC 2012 disclosures are included in those previous announcements. The relevant announcements are listed in Appendix 2.

The Company also confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Cautionary Statement

This announcement and information, opinions or conclusions expressed in the course of this announcement contains forecasts and forward-looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Western Gold Resources, and of a general nature which may affect the future operating and financial performance of Western Gold Resources, and the value of an investment in Western Gold Resources including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, commodity demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, cultural heritage risks, foreign currency fluctuations, and mining development, construction and commissioning risk.

This announcement contains forward-looking statements, including references to the Decision to Mine, Next Steps and/or Project De-risking. These statements are not guarantees of future performance and involve known and unknown risks and uncertainties. The Decision to Mine remains subject to completion of final mine design, scheduling, consultation with the Traditional Owners and Western Gold Resources Board approval. References to the project being ‘de-risked’ relate solely to technical confidence in geological modelling and grade continuity and should not be construed as a final investment decision. Actual results may differ materially from those expressed or implied due to various factors including commodity prices, regulatory approvals, and operational risks.

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Appendix 1

Previous ASX Announcements

1. ASX Announcement 24th December 2025 “Decision to Mine – Gold Duke Project”

2. ASX Announcement 15[th] January 2025 “Preferred Mining Contractor for Gold Duke Project with deferred Payment Facility”

3. ASX Announcement 16[th] June 2025 “WGR Executes Binding Toll Milling Agreement for Gold Duke Project”