WEST WITS MINING LIMITED — Capital/Financing Update 2016

Aug 23, 2016

ASX: WWI www.westwitsmining.com

ASX Announcement and Media Release Wednesday, 24 August 2016

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Fast Facts @ 24 Aug 2016 Capital Structure: Shares on issue 456 million Options 52 million Market Cap A$16.88 million Available Cash A$0.5 million Debt Nil Enterprise Value (EV) A$16.38 million EV/oz A$12.41/oz

Company Directors & Management	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	11%
Top 40 Shareholders	74%

Company Highlights

 South Africa

• near surface and underground targets

• o 1.326m oz JORC resource[1] - Measures: 302,000 - Indicated: 582,500 - Inferred: 441,000

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

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Ore now being extracted from Sol Plaatjies open pit

Highlights

• Ore now being extracted from the Sol Plaatjies open pit and trucked to plant

• WWI will be paid price equal to 0.6 grams of gold (approx. US$25) for each tonne mined

• 130,000 tonnes schedule for extraction in Stage 1 over first 12 months with a 50,000 tonnes schedule in Stage 2 over further 6 months

• Tonnages expected to be upgraded and available either concurrently or subsequent to Stage 1

• Potential upside payments through 50:50 profit share post costs & priority payments

• Planning and design is underway to bring numerous other ore positions to the point of mineability, within the previously announced 1.326 Moz JORC resource.

West Wits Mining Limited (“West Wits” or “the Company”) is delighted to announce ore extracted from the Sol Plaatjies Project (“Sol Plaatjies”) has now begun being trucked to the nearby Mogale plant.

Michael Quinert, Chairman commented, “Sol Plaatjies is the catalyst for the development of the significant 1.326 Moz JORC resource at the Soweto Cluster Gold Project. The proceeds from Sol Plaatjies provides for cashflow to now expedite plans for further exploration to expand the Company’s JORC statement as well as development of gold mining operations.

 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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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

The first stage provides for the extraction of approx. 130,000 tonnes of ore over 12 months from the first two of five planned pits. Indications are that at least another 50,000 tonnes are available in the second stage. Work is now well underway to upgrade further tonnes along strike from pit two which will provide for potentially a much larger project at Sol Plaatjies.”

The Company will provide further ASX releases once these extensions plans and mining schedule are finalised. Updates will also be provided once production rates settle for this initial production at Sol Plaatjies.

For and on behalf of the board

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Michael Quinert Chairman

W: www.westwitsmining.com

West Wits Mining Limited

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Figure 1. Site panorama – Ore truck being filled for transport to nearby Mogale Plant

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Figure 2. Trucks being loaded with ore Figure 3. Ore being ripped and prepared for removal

1. Original report “Soweto Gold Project Resource Increases to 1.32 Mill Ozs” Competent Person Hermanus Berhardus Swart ASX release 10 May 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.