WEST WITS MINING LIMITED — Capital/Financing Update 2016

Nov 27, 2016

ASX: WWI www.westwitsmining.com

ASX Announcement and Media Release Monday, 28[th] November 2016

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Fast Facts @ 28 Nov 2016 Capital Structure: Shares on issue 456 million Options 31 million Market Cap A$12.32 million Available Cash A$0.3 million Debt Nil Enterprise Value (EV) A$12.02 million EV/oz A$8.74/oz

Company Directors & Management Michael Quinert Chairman Vin Savage Executive Director Neil Pretorius Non-Exec Director Hulme Scholes Non-Exec Director

Top Shareholders ≈
Twynam Ag	19.9%
DRD Gold Ltd Top 40 Shareholders	11% 74%

Company Highlights

 South Africa

• near surface and underground targets

• o 1.374m oz JORC resource[1] - Measures: 302,300 - Indicated: 592,500 - Inferred: 489,000

• o Historic estimate of 12.8m oz at 4.6g/t o 31.8m ozs Au produced historically

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 Indonesia

• High grade placer deposit

• Project show early stage similarities with discoveries inc; Porgera, Edie Creek, Wau

• Independent geologists believe source of nuggets likely to be local, based on the size and shape of the nuggets discovered

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Contact Details

First funds received from Sol Plaatje

West Wits Mining Limited (“West Wits” or “the Company”) is pleased to announce that it has received its first payment from the mining contractor from the sale of ore extracted from the Sol Plaatje Project (“SPP”) which forms part of the Soweto Project Cluster Gold Project, Gauteng Province, South Africa.

Michael Quinert, Chairman commented, “The first payment from SPP is a major milestone for West Wits as it marks the commencement of commercial recoveries from the Soweto Cluster Gold Project. We look forward to a continued ramp up of production at SPP which will provide an excellent platform to develop further surface operations and expand the Company’s significant 1.374 Moz JORC statement.[1] ”

Production from SPP is now generating surplus cashflow after allowing for start-up and ongoing costs and is performing in line with expectations. West Wits received an initial payment of circa ZAR 710,000 or circa AUD$70,000. This amount represents payment for approximately 2,200 tonnes of the circa 15,000 of ore supplied from SPP to date. Under the agreement West Wits will be paid 0.6 grams of gold (approx. US$23 on current gold prices) for each tonne of ore mined. Further payments are expected after monthly reconciliations of production results.

The head contractor has now engaged a second and larger mining contractor for SPP. This appointment significantly increases the mining fleet and will support a major increase in production rates over the next two to three months. To date approx. 15,000 tonnes of ore have been extracted with the mining contractor projecting a steady rise of ore tonnage to approx. 14,000 - 15,000 tonnes per month. However there is now capacity to increase this scheduled production rate even further based on the increased and improved mining fleet.

Currently 130,000 tonnes is scheduled for extraction in Stage 1, over 12 months with a further 50,000 tonnes scheduled in Stage 2 over a further 6 months. The Company is now also working on finalising the mining plan for a further stage, comprising pit 3 at SPP which could add approx. a further 90,000 tonnes to the operation.

West Wits Mining Limited ACN 124 894 060

Suite 1, 1233 High Street Armadale VIC 3143

T: +61 3 8692 9049 F: +61 3 8692 9040

The Company will continue to provide further operational updates for SPP as production continues to increase and further tonnes are processed.

E: info@westwitsmining.com

W: www.westwitsmining.com

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For and on behalf the board

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Michael Quinert Chairman

West Wits Mining Limited

For further information, visit www.westwitsmining.com Or Contact

Tim Chapman Telephone: +61 3 8692 9049

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Figure 1 – Plan view of the 5 proposed pits for the Sol Plaatje Project

1. Original report “Gold Mineral Resource for Sol Plaatje” Competent Person Hermanus Berhardus Swart ASX release 14 Sep 2016. The Company is not aware of any new information or data that materially affects the information included in the announcement and confirms that all material assumptions and technical parameters underpinning the estimates above continue to apply and have not materially changed. The form and context in which the Competent Persons findings are presented have not materially changed .