WEST WITS MINING LIMITED — AGM Information 2018

Oct 9, 2018

ASX Announcement (ASX: WWI)

Wednesday 10[th] October 2018

==> picture [117 x 88] intentionally omitted <==

Witwatersrand Basin Project Update

and AGM Date

Highlights

• Mining Right and Mining Permit applications progressing, key community stakeholder discussions nearing finalisation to complete the community engagement phase

• September production delivers >12,000t at an estimated head grade in line with targets

• Pit 1 Rehab substantively completed delivering a key outcome of the Kimberley Central Open Pit Government directive

---

West Wits Mining Limited (“WWIs” or “the Company) is pleased to release an update on the Witwatersrand Basin Project (“WBP”) and notify the proposed date of the upcoming AGM.

***

Michael Quinert, Chairman commented: “Progress with West Wits’ Mining License applications on WBP continue to move forward at a steady pace. Discussions with key interested and effected parties are progressing positively towards completion, an important phase of the application process. Completion of Pit 1 rehab in October significantly demonstrates the Company’s capability to deliver key project outcomes and benefits to local communities. Preliminary production results for September indicate target volume and grades have been met.”

---

Mining License Applications

The project team managing WWI’s Mining Permit and Mining Right applications have been engaged in extensive community engagement activities since the submission of the license applications in 2Q 2018. Local media groups were engaged, and numerous public forums have been held to inform local community members about the impacts, and benefits, of the proposed mining projects for both the Mining Permit and Right applications (Figure 1 & 2). Discussions have also been held with key land owners who plan to develop portions of the above ground area of WWI’s lease. Recent progress has been pleasing and discussions are nearing completion with key stakeholders which will signal the finalising of the critical community engagement phase.

West Wits Mining Limited ABN 89 124 894 060 Level 3, 62 Lygon Street Carlton VIC 3053 Australia P +61 3 8692 9049 F +61 3 8692 9040 www.westwitsmining.com

• 2 -

==> picture [236 x 115] intentionally omitted <==

==> picture [236 x 115] intentionally omitted <==

Figures 1 & 2: Community Forum’s at local community centres

The Company submitted two Mining Permit Applications, Kimberley West Central Open Pit and M&S Central Open Pit (Figure 3), which were accepted by the South African regulator for processing in April 2018. Each permit covers an area of 5ha each and, upon approval, mine management will be able to extend current openpit operations from Pit 3 of the Kimberley Central Open Pit area to the new targets. Kimberley Central OpenPit is anticipated to be granted in 4Q 2018 and M&S Central Open-Pit in early 1Q 2019. The expected timing is fortuitous as it will enable the new pits to be opened as production on the existing project nears completion, forecast for March, and allow for the ongoing utilisation of site equipment to continue operations and deliver net cashflow whilst the Mining Right application process is finalised.

==> picture [307 x 224] intentionally omitted <==

Figure 3: WBP’s Mining Permit applications and broader Mining Right area

WWI’s Mining Right Application was formally accepted for processing by the Department of Mineral Resources in May 2018. The application, upon approval, will enable West Wits to extend operations to numerous target areas, including underground in the longer term, and ramp up open-pit production in the short term. Securing mining rights is a rigorous process, as the regulator enforces strict environmental standards and ongoing rehabilitation obligations. The management team is highly focused and pleased with current progress of the application, which is fundamental to the success of the Company’s project. The Company is continuing to expedite environmental and other studies, which are well progressed, and the approval process is expected to be completed in 2Q 2019.

• 3 -

Production

Initial results on Kimberley Central Open Pit production for the month of September indicate production targets have been met for the month with >12,000t delivered at an estimated head grade of circa 2g/t. This is important as prior months production were below target. June and July output was impacted by a higher stripping ration as the operations team opened new areas of Pit 3 to access the reef. Whilst this will deliver benefits in the longer term there was initially a higher portion of waste removal and higher costs which has impacted results. Whilst tonnes delivered in August were >13,000 there was lower grade recovery which was largely attributable to lower in-situ grades and processing issues at the plant that resulted in gold being trapped in the circuit. This trapped gold is expected to be recovered in subsequent periods.

September’s production result will be finalised soon and will be reported with the quarterly activities report. Production is expected to normalise and then increase as Pit 3 matures with greater access to the reef, delivering free cash-flow for project development.

Gold price received for production continues to track strongly with recent prices received above ZAR 550,000/kg, South African refiners pay on the basis of Rand/kg, the month average price for WWI’s gold sales since commencement (August 2017) is ~ZAR 536,000. The current spot price therefore demonstrates market conditions in South Africa are relatively favourable in historical terms, despite the highly publicised devaluation of the gold price in USD terms.

==> picture [237 x 178] intentionally omitted <==

==> picture [157 x 178] intentionally omitted <==

Figure 4 (left) crushing of ore onsite prior to transporting to Ezulwini plant & Figure 5 (right) Pit 3 extension

Rehabilitation

West Wits’ is pleased to have substantively completed rehabilitation of Pit 1 of Kimberley Central Open Pit. The pit has been completely backfilled, the area will be covered with top soil to complete the process and allow the landholder to begin suburban development.

The completion of Pit 1 rehab activity coincides with the finalising of WWI’s community engagement phase of the mining license applications. This initial closure is enabling the Company to demonstrate the broader benefits West Wits’ projects can deliver through the rejuvenation of desolate areas that are being exploited by illegal miners.

• 4 -

Rehabilitation activity is now scheduled to commence on Pit 2, a much smaller area, and is expected to be completed in 1Q 2019.

Proposed AGM Date

In accordance with the ASX Listing Rule 3.13.1, West Wits Mining Ltd (ASX: WWI) advises that it intends to hold its Annual General Meeting at 11:30am on 14 November 2018 at The CFO Solution Level 3, 62 Lygon Street, Carlton.

For and on behalf of the Board

==> picture [158 x 58] intentionally omitted <==

Michael Quinert Chairman West Wits Mining Limited

Investor Relations:

Contact Simon Whyte on: +61 459 797 101 Otherwise, for further information visit: www.westwitsmining.com