WEST COAST SILVER LIMITED — Capital/Financing Update 2021

Feb 17, 2021

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ASX ANNOUNCEMENT
ABN 95 155 472 834
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18 February 2021

Binti Binti / Gindalbie Gold Project Update

• ╘ 1[st] round of drilling results indicates the Binti Binti gold-in-soil anomaly was likely transported from the adjacent Gindalbie Goldfield and not from an underlying bedrock source

• ╘ 2[nd] round of drilling for gold will therefore target the Gindalbie Goldfield. All approvals received, drilling to commence March 2021, 200 holes planned for 10,000 metres

Errawarra Resources Ltd (ASX:ERW) (Errawarra or the Company) has completed interpretation of its 1[st] aircore drill program at the Binti Binti / Gindalbie Gold Project[1] located 75 kilometres north-northeast of Kalgoorlie, Western Australia (refer figures 1-2 on page 2).

Binti Binti / Gindalbie is considered prospective for orogenic (lode) gold mineralisation given the historic Gindalbie Goldfield and associated workings within the project tenure (refer figures 3-5 on pages 3-4).[2]

Within tenement E27/603, gold-anomalous soil geochemistry, combined with aeromagnetic data, outlined a structural corridor favourable to mineralisation. Errawarra drilled 99 aircore holes for a total of 5,267 metres in late 2020 testing the low-level gold-in soil anomaly. Interpretation of Errawarra’s drilling results suggests the anomaly was potentially transported from the adjacent Gindalbie Goldfield, not from an underlying bedrock source. No significant results were returned from the 1[st] drill program.

With the benefit of this information Errawarra will drill test the adjacent Gindalbie tenement (E27/577). This tenement contains historic gold production (refer table 1 on page 5) that requires further drilling to test for additional gold mineralisation along strike and at depth. The aim of the 2[nd] round of drilling is to intersect grades and widths of mineralisation that indicate the potential for the tenement to host an economic gold deposit. Errawarra acquired its 80% interest in the Gindalbie goldfield in December 2020 and settled the acquisition in January 2021. Drill approvals have been received, the drilling contractor secured, and drilling is scheduled to commence in March 2021. Errawarra will advise shareholders when drilling has commenced.

This ASX announcement has been authorised for release by Mr Damian Hicks, Executive Director.

For further information, please contact:

Damian Hicks Executive Director Errawarra Resources Ltd E: info@errawarra.com T: +61 8 9322 3383

1 Errawarra entered the Binti Binti joint venture (E27/603) in September 2020, and subsequently acquired its interest in Gindalbie (E27/577) on 21 December 2020. The two projects share a tenement boundary and hence are referred to as the Binti Binti / Gindalbie Project.

2 For a detailed technical description of regional and project scale geology please refer to the Independent Geological Report available for download here accompanying the Prospectus lodged with ASX.

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info@errawarra.com

Level 12, 197 St Georges Tce Perth WA

+61 (08) 9322 3383

ASX: ERW

www.errawarra.com

ASX Announcement

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Figure 1 Project Location Map showing the three Errawarra Projects

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Figure 2: Regional gold and nickel mineralisation. The blue tenements show the outline for the Binti Binti / Gindalbie Gold project being explored by Errawarra.

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ASX Announcement
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Figure 3: 100,000k (Gindalbie-3237) surface geology map over the Binti Binti Project tenements (GSWA). Drill collars for recent aircore drilling are shown as black dots, highlighted by the red shape. The yellow circle highlights the approximate coverage of the 2[nd] round of drilling scheduled for March 2021.

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Project Tenure
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Figure 4: Gold mineralisation map, Binti Binti Project. The red ellipse outlines the soil geochemical anomaly that was the focus of recent drilling.

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ASX Announcement
Project Tenure
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Figure 5: November / December 2020 drilling targeted the +10ppb soil anomaly within E27/603. Drilling planned for March 2021 drilling will target areas along strike and adjacent to the historic workings. The yellow circle highlights the approximate coverage of the 2[nd] round of drilling scheduled for March 2021.

Mine Name	Mindex Site Code	Tonnes	Gold Grade (g/t)	Gold Produced (Kg)	Year
Havilah	S0009840	983	17.3	17.0	1901-1911
Walls Reward	S0010032	588	39.4	23.1	1952-1953
Kurrajong	S0009880	288	4.6	1.3	1946-1981
Sunbeam East	S0010009	8	13.4	0.1	1920
Myrtle	S0009932	4	125.5	0.5	1908
Total
Weighted		1871	22.5	42.1	1901-1981
Average

Table 1: A summary of the gold production data recorded in the State mine gazette and documents for the historical mine workings within E27/577 are tabulated above. Drilling planned for March 2021 drilling will target areas along strike and adjacent to historic workings.

Competent Person

The information in this document that relates to exploration results at Binti Binti / Gindalbie is based on information compiled by Adrian Black, a Competent Person who is a Member of the AIG (1364). Adrian Black is a consultant to Errawarra Resources Ltd and its subsidiary companies. Adrian Black has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been 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).

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ASX ANNOUNCEMENT
ABN 95 155 472 834
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JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (e.g., cut channels, random chips, or specific	• Aircore drilling was undertaken to obtain samples that were laid out in one
techniques	specialised industry standard measurement tools appropriate to the	metre intervals
	minerals under investigation, such as down hole gamma sondes, or	• Sampling was of the drill chips for assay was undertaken by scoop into
	handheld XRF instruments, etc.). These examples should not be taken as	numbered calico bags. Samples submitted for assay were either
	limiting the broad meaning of sampling.	composites of 2 to 4 metres length, or single metre samples. Composites
	• Include reference to measures taken to ensure sample representivity and	were produced by representatively sampling equal amounts of each
	the appropriate calibration of any measurement tools or systems used.	individual drill sample to be included in the composite.
	• Aspects of the determination of mineralisation that are Material to the Public	• Certified Reference Materials (CRM) and blanks were inserted
	Report.	approximately every 25 samples.
	• In cases where ‘industry standard’ work has been done this would be	• Samples were analysed by Intertek Genalysis in Perth. Sample preparation
	relatively simple (e.g., ‘reverse circulation drilling was used to obtain 1 m	was by pulverizing and splitting a representative 25g subsample, then
	samples from which 3 kg was pulverised to produce a 30 g charge for fire	dissolution using an aqua regia digestion. Gold and 32 other elements were
	assay’). In other cases, more explanation may be required, such as where	analysed by mass spectrometer.
	there is coarse gold that has inherent sampling problems. Unusual
	commodities or mineralisation types (e.g., submarine nodules) may warrant
	disclosure of detailed information.
Drilling	• Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast,	• Drilling was completed using the aircore method. A standard aircore blade
techniques	auger, Bangka, sonic, etc.) and details (e.g., core diameter, triple or standard	bit was used, with chip samples returned within the drill pipe and recovered
	tube, depth of diamond tails, face-sampling bit or other type, whether core	through a cyclone.
	is oriented and if so, by what method, etc.).	• In approximately 30% of holes, the aircore blade was exchanged for a
		hammer to penetrate hard layers (silcrete / calcrete) in the weathering
		profile. The hammer was a conventional hammer, so a crossover sub was
		utilised. The hammer was only used for drilling hard material and was
		swapped out for the aircore blade once this unit had beenpenetrated.

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info@errawarra.com

Level 12, 197 St Georges Tce Perth WA

+61 (08) 9322 3383

ASX: ERW

www.errawarra.com

	ASX Announcement
	Criteria JORC Code explanation Commentary
	• Holes were drilled vertical to refusal
	Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • The geologist visually assessed drill sample recoveries during the program, and these were overall very good. • Drill cyclone was cleaned regularly between holes if required to minimise down hole or cross-hole contamination. • Samples were almost entirely dry, with little water encountered in the drilling • No relationship between sample recovery and grade has been recognised.
	Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. • All drill holes have been geologically logged for lithology, weathering, and other features of the samples using sieved rock chips from the drill samples. The level of detail would be sufficient to support Mineral Resource estimation. • Data relating to the geological observations and the sampling intervals was entered in a database • All drill holes were logged in full.
	Sub-sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second- half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • Aircore samples were collected from sample piles by scoop. This is regarded as a fit for purpose sampling regime for the type of drilling and the stage of exploration being undertaken • The drill samples were almost entirely dry, with very few damp samples and occasional wet samples • Where composite samples were taken, equal amounts of sample were taken from each of the constituent sample piles • No field duplicate sampling was undertaken • The samples were then sent to Intertek Genalysis for sample preparation and analysis. All samples were sorted, dried and pulverised to achieve 85% passing 75μm. • 25g representative splits of the prepared pulp were taken for digestion and analysis • The sample sizes are appropriate for the style of mineralisation being sought. In this environment, gold is expected to be present as micro- nuggets and adsorbed to clay particles. The sample size is ample to ensure that the sample is statistically valid with respect to grain size.
	Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the • Assaying was completed by Intertek Genalysis, a NATA accredited commercial laboratory. Sample preparation was by pulverizing and splitting a representative 25g subsample, then dissolution using an aqua regia

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	ASX Announcement
	Criteria JORC Code explanation Commentary
	parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e., lack of bias) and precision have been established. digestion. Gold and 32 other elements were analysed by mass spectrometer. In the weathered environment, aqua regia digestion is considered near-total for gold. For other elements analysed, aqua regia digestion is considered a partial digestion. The analysis methods used are well suited to gold exploration using aircore drilling. • Certified Reference Materials (CRM) and blank samples were inserted into the sample stream at a rate of approximately 1 in 25. Both standards and blanks returned analyses within acceptable limits. The laboratory also inserted additional CRMs, blanks, and lab replicates to monitor performance. • No geophysical tools were used to determine any reported element concentration.
	Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • Drill collar data, sample information, logging data and assay results were compiled and validated by a separate person to the person conducting the logging and sampling. Assay results were reviewed by three separate persons. • Laboratory reports were received both as csv format and in locked pdf files. Results were cross referenced with sample data and loaded into an electronic database. Sample numbers from lab reports were matched to assay batch submissions and to the field sample data, and no discrepancies were noted. • There has been no validation and cross checking of laboratory performance at this stage. • Twinned holes have not been used in this program. • No adjustments have been made to any of the assay results.
	Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. • Drill hole collars were located and pegged using a handheld GPS with an expected accuracy of +/-3m for easting and northing. Elevations were interpolated from the SRTM DEM grid of the area. • No down hole surveys were undertaken given the use of the aircore drilling method. • The grid system used is GDA94, MGA zone 51.
	Data spacing and distribution • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimationprocedure(s)and classifications • Aircore holes were laid out on a nominal 100m x 200m grid • The spacing and distribution of holes is considered sufficient for broad scale evaluation of the exploration potential of the area. The completed drilling at the Project to date is not sufficient to establish the degree ofgeological and

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	ASX Announcement
	Criteria JORC Code explanation Commentary
	applied. • Whether sample compositing has been applied. grade continuity to support the definition of Mineral Resource and Reserves and the classifications applied under the 2012 JORC code • Drill samples were composited in 2 – 4m intervals prior to being submitted to the laboratory, honoring geological contacts. No compositing of the assay results has been implemented.
	Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. • Drill holes were laid out on a regular east-west grid, ensuring a relatively unbiased sample of the underlying geology. • The orientation of mineralized structures in this area is not known with certainty, so no assessment of the effect of drill orientation on sample bias can be made at this stage.
	Sample security • The measures taken to ensure sample security. • All samples collected during the program were delivered by Newexco Exploration (geological consultants) to the Intertek Genalysis laboratory in Kalgoorlie for submission. • Sample security was not considered a significant risk to the project. Only employees of Newexco Exploration were involved in the collection, short term storage (in a remote area), and delivery of samples.
	Audits or reviews • The results of any audits or reviews of sampling techniques and data. • No formal audits or reviews have been conducted on sampling technique and data to date. Technical review of the program has indicated that the assays results are consistent with the logging.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	• Exploration was conducted within exploration licence E 27/603. The lease is
tenement and	agreements or material issues with third parties such as joint ventures,	held 100% by Ms. Greta Purich. Errawarra Resources Ltd has reached a joint
land tenure	partnerships, overriding royalties, native title interests, historical sites,	venture agreement to earn an 80% interest in the tenement. For more
status	wilderness or national park and environmental settings.	information please refer to the Prospectus available here.
	• The security of the tenure held at the time of reporting along with any	• The tenements lie within the Maduwongga Native Title claim
	known impediments to obtaining a licence to operate in the area.	• All tenements are in good standing with no known impediments.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	• Relatively little previous exploration has been conducted within the area of
done by other		drilling. Only two datasets of relevance are known within the area of drilling,
parties		being a government aeromagnetic survey undertaken in 1990, and BLEG

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	ASX Announcement
	Criteria JORC Code explanation Commentary
	soil geochemical sampling undertaken by Delta Gold during 1993 to 1994. • The broader region has a long history of exploration and small-scale mining dating back to early 1900s. The Gindalbie / Binti Binti Historic Goldfield is located about 1km to the east of the drilling area. • Historical exploration results and data quality have been considered during the planning of this drill program.
	Geology • Deposit type, geological setting and style of mineralisation. • The target for the exploration program is large orogenic gold systems associated with pressure shadows around granitic intrusions. Nearby outcropping gold mineralisation in the Gindalbie area typically consists of steeply dipping quartz veins and associated alteration in the wall rocks. • The geological setting of the area is Archaean greenstones consisting of steeply dipping and folded basalts, felsic volcanics, komatiites, and sediments, intruded by voluminous gabbro, dolerite dykes, and granitic intrusions.
	Drill hole Information • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report,the Competent Person should clearlyexplain whythis is the case. • Drill hole collar locations are shown in diagrams in the body of the release. Elevations of drill holes have been interpolated from STRM DEM data. • All holes were drilled vertically. Holes were drilled to blade refusal, usually being the top of fresh rock; end-of-hole depths ranged from 21m to 86m. • Specifics of each drill hole have not been tabulated as no significant intersections were encountered.
	Data aggregation methods • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearlystated. • No data aggregation methods were used.

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ASX Announcement

Criteria	JORC Code explanation	Commentary
Relationship	• These relationships are particularly important in the reporting of Exploration	• No significant intersections were returned
between	Results.
mineralisation	• If the geometry of the mineralisation with respect to the drill hole angle is
widths and	known, its nature should be reported.
intercept	• If it is not known and only the down hole lengths are reported, there should
lengths	be a clear statement to this effect (e.g., ‘down hole length, true width not
	known’).
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	• Refer to figures and tables in the body of the ASX release.
	should be included for any significant discovery being reported These
	should include, but not be limited to a plan view of drill hole collar locations
	and appropriate sectional views.
Balanced	• Where comprehensive reporting of all Exploration Results is not practicable,	• No significant intersections were returned
reporting	representative reporting of both low and high grades and/or widths should
	bepracticed avoidingmisleadingreportingof Exploration Results.
Other	• Other exploration data, if meaningful and material, should be reported	• One of the technical motivations for the drill testing of the area was a gold-
substantive	including (but not limited to): geological observations; geophysical survey	in-soil anomaly identified from previous exploration. Drill hole logging
exploration	results; geochemical survey results; bulk samples – size and method of	identified a significant amount of transported cover throughout the drilled
data	treatment; metallurgical test results; bulk density, groundwater,	area (between 11 and 35m). This has shown that the soil anomaly is related
	geotechnical and rock characteristics; potential deleterious or	to the transported cover rather than to underlying gold mineralisation in the
	contaminating substances.	bedrock.
Further work	• The nature and scale of planned further work (e.g., tests for lateral	• The interpreted source of the transported soil anomaly is the historic
	extensions or depth extensions or large-scale step-out drilling).	Gindalbie / Binti Binti Goldfield, located 1km to the east of the recent
	• Diagrams clearly highlighting the areas of possible extensions, including the	drilling. Further aircore drilling is planned to assess the area of the historic
	main geological interpretations and future drilling areas, provided this	goldfield for significant gold mineralisation.
	information is not commerciallysensitive.

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