WA1 RESOURCES LTD — Capital/Financing Update 2022

Nov 8, 2022

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ASX RELEASE
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9 NOVEMBER 2022

WEST ARUNTA PROJECT

ADDITIONAL TENEMENT APPLICATIONS

WA1 Resources Ltd (ASX: WA1) ( WA1 or the Company ) advises that it has made four new Exploration Licence applications in proximity to the Company’s West Arunta Project, comprising EL(A) 80/5860, 80/5861 and 80/5862 in Western Australia, and EL33378 in the Northern Territory.

The three applications in Western Australia are located north and northwest of the granted West Arunta Project tenements currently held by the Company. The areas of the applications will now be assessed for their prospectivity based on review of the limited existing datasets available. If warranted, the Company will plan exploration programs that will be undertaken upon the tenement(s) progressing to grant and once heritage protection agreements and other necessary consents are in place.

While the Company is not currently aware of any reason why these applications will not be granted, there is no guarantee that the applications will be granted or that applications will not be withdrawn, in which instance the Company would not acquire any interest in the area subject of the relevant application(s).

ENDS

For further information, please contact:

Investors

Media

Paul Savich Michael Vaughan Managing Director Fivemark Partners T: +61 8 6478 7866 T: +61 422 602 720 E: psavich@wa1.com.au E: michael.vaughan@fivemark.com.au

Or visit our website at www.wa1.com.au

Authorised for market release by the Board of WA1.

WA1 RESOURCES LTD | ABN: 51 646 878 631 | WWW.WA1.COM.AU | ASX: WA1 WA1 RESOURCES LTD | ABN: 51 646 878 631 | WWW.WA1.COM.AU | ASX: WA1 A: L2 55 CARRINGTON ST NEDLANDS WA 6009 P: +61 8 6478 7866 E: INFO@WA1.COM.AU A: 2C LOCH ST, NEDLANDS WA 6009 P: +61 8 6478 7866 E: INFO@WA1.COM.AU

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About WA1

WA1 Resources Ltd is based in Perth, Western Australia and was admitted to the official list of the Australian Securities Exchange (ASX) in February 2022. WA1’s shares are traded under the code WA1.

WA1’s objective is to discover a Tier 1 deposit in Western Australia’s under explored regions and create value for all stakeholders. We believe we can have a positive impact on the remote communities within the lands on which we operate. We will execute our exploration using a proven leadership team which has a successful track record of exploring in WA’s most remote regions.

Forward-Looking Statements

This ASX Release may contain certain “forward-looking statements” which may be based on forward-looking information that are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those presented here. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. For a more detailed discussion of such risks and other factors, see the Company’s Prospectus and Annual Reports, as well as the Company’s other ASX Releases. Readers should not place undue reliance on forward-looking information.

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The Company does not undertake any obligation to release publicly any revisions to any forward-looking statement to reflect events or circumstances after the date of this ASX Release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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