WEST WITS MINING LIMITED — Capital/Financing Update 2016

Oct 26, 2016

ASX: WWI

ASX Announcement and Media Release Thursday, 27 October 2016

www.westwitsmining.com

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Fast Facts @ 27 Oct 2016 Capital Structure: Shares on issue 456 million Options 52 million Market Cap A$14.1 million Available Cash A$0.3 million Debt Nil Enterprise Value (EV) A$13.8 million EV/oz A$10.06/oz

Production on track at Sol Plaatje

Highlights

• 11,000 tonnes of ore extracted from the Sol Plaatje Project to date

• 6,000 tonnes projected for extraction in November

Company Directors & Management

Michael Quinert Chairman Vin Savage Executive Director Neil Pretorius Non-Exec Director Hulme Scholes Non-Exec Director

• Production expected to increase 14,000 to 15,000 tonnes per month

• Sol Plaatje is on schedule and developing as planned

• Payments from the sale of ore expected to commence in next 3-4 weeks

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

Company Highlights

 South Africa o 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

• o 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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West Wits Mining Limited (“West Wits” or “the Company) is delighted to provide an operational update for its Sol Plaatje Project (SPP) which forms part of the Soweto Project Cluster Gold Project (“Soweto Cluster”), Gauteng Province, South Africa.

Since late August approx. 11,000 tonnes of ore have been extracted from the K9b reef at the SPP and trucked to the nearby Mogale plant with a further 160,000 tonnes of waste removed. The Company expects to mine a further 6,000 tonnes of ore in November. Thereafter the mining contractor projects a steady rise of ore tonnage to approx. 14-15,000 tonnes per month.

Under agreement with the mining contractor West Wits will be paid a price equal to 0.6 grams of gold (approx. US$25) for each tonne of ore mined. Allowing for recoupment of start-up costs (including pre stripping) the Company expects to begin receiving payments for ore in the next 3-4 weeks. Further to the per tonne payment there is also potential upside through a 50:50 profit share post costs & priority payments.

130,000 tonnes is scheduled for extraction in Stage 1 at the SPP over 12 months with a 50,000 tonnes schedule in Stage 2 over a further 6 months.

Michael Quinert, Chairman commented, “SPP is on track and turning West Wits into a producer. Proceeds from mining at SPP will allow the Company to expedite its exploration and development plans for further on surface and near surface projects within the Soweto Cluster which currently has a declared 1.374 m oz au resource."

Contact Details 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 E: info@westwitsmining.com

W: www.westwitsmining.com

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Soweto Cluster Gold Project – Global Mineral Resource Estimate – 2 g/t cut-off	Soweto Cluster Gold Project – Global Mineral Resource Estimate – 2 g/t cut-off	Soweto Cluster Gold Project – Global Mineral Resource Estimate – 2 g/t cut-off	Soweto Cluster Gold Project – Global Mineral Resource Estimate – 2 g/t cut-off
Category	Tonnes Millions	Grade g/t Au	Ounces Au
Measured	2.21	4.25	302,300
Indicated	5.6	3.3	592,500
Measured & Indicated	7.81	3.57	894,800
Inferred	4.9	3.1	489,000
Total	12.7	3.38	1,374,000

The table above shows the global mineral resource estimate for the Soweto Project within JORC 2012 Code reported at a 2.0 g/t cut-off. Number differences may occur due to rounding errors. Refer original report “Gold Mineral Resource for Sol Plaatje”, competent person H B Swart ASX release 14[th] September 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 that estimate continue to apply and have not materially changed. The form and context in which the Competent Persons findings are presented have not materially changed.”

To date head grades delivered to the mill have been in line with expectations at approx. 2g/t with processing recoveries exceeding the projected 85%. Mining costs for the operation have also been in line with budget but the removal of overburden had been slightly behind schedule. In order to achieve increased tonnages further earth moving equipment has been secured to assist in increasing capacity.

In addition to the SPP West Wits continues to investigate surface opportunities within the Soweto Cluster. Planning work is underway to enable several other areas to progress to production.

The Company will continue to provide further operational updates for SPP as production continues and further tonnes are processed providing increasing certainty with respect to an average grade being received at the plant.

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

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 .