WEST WITS MINING LIMITED — Capital/Financing Update 2016

Jul 24, 2016

ASX: WWI www.westwitsmining.com

ASX Announcement and Media Release Monday, 25 July 2016

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Fast Facts @ 25 Jul 2016 Capital Structure: Shares on issue 456 million Options 52 million Market Cap A$11.4 million Available Cash A$0.6million Debt Nil Enterprise Value (EV) A$10.8 million EV/oz A$8.14/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	11%
Top 40 Shareholders	74%

Agreements finalised allowing for commencement at Sol Plaatjies

Highlights

• Sol Plaatjies Project commencement planned for mid‐August 2016 with pre stripping already underway.

• First stage plans provide for extraction of up to 130,000 tonnes of ore from K9 band of Kimberly Reef over 12 months with a further 50,000 tonnes identified in second stage.

• West Wits paid at a rate equal to prevailing price of 0.6 grams of gold (currently circa USD 25) for each tonne of ore removed after recovery of contractor’s costs.

Company Highlights

 South Africa

• near surface and underground targets

• o 1.326m oz JORC resource ‐ 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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• No Opex or Capex requirement for West Wits at Sol Plaatjies

• Scope for significant further expansion of Sol Plaatjies Project after stage 2.

• Sol Plaatjies Project will provide a model for several further similar projects across the Soweto Cluster area where reef remains in situ and near surface.

West Wits Mining Limited (“West Wits” or “the Company”) is pleased to announce it has signed terms with the principle mining contractor allowing for commencement of the Sol Plaatjies Project (“Sol Plaatjies”) within the Soweto Cluster prospecting right area, Johannesburg, South Africa.

 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 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 agreement requires the principle contractor, Mintails Mining SA (Pty) Limited (“the Contractor”), to undertake and fund all preparatory works, ore extraction, transport, processing, gold recovery and rehabilitation costs at Sol Plaatjies. Following recovery of costs by Contractor West Wits will receive a priority payment equal to the prevailing value of 0.6 grams of gold (currently circa USD 25) for each tonne of ore taken in the previous month. Subject to payment of that amount in full to West Wits thereafter the Contractor will be entitled to a payment equal to the value of 0.4 grams of gold for each tonne with any additional surplus cash then shared equally between West Wits and the Contractor.

The first stage plan as provided by the Contractor and verified by West Wits own consultants provides for the removal of circa 130,000 tonnes of ore material over 12 months from the first two of five planned pits. Indications are that at least another 50,000 further tonnes are available in the second stage.

W: www.westwitsmining.com

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This agreement has been formulated on the basis of an extensive trenching and sampling program undertaken by the Contractor with the support and assistance of the Company’s principle consultant, Shango Solutions. This work has facilitated the development of a detailed mining schedule plan and financial model by the Contractor which underpins its commitment to funding the program on the terms outlined. West Wits therefore has no capex or opex obligations with respect to the project but will receive approximately USD 25 for each tonne of ore extracted following recovery of costs. Under the agreement the Contractor does have the right to cease operations should the project become marginal in its view. However, under this scenario West Wits does have an ability to find an alternative mining contractor.

Michael Quinert, Chairman commented, “This agreement represents the culmination of 9 months hard work by all concerned. Sol Plaatjies will be the catalyst for the Company once again establishing serious mining operations at our Soweto Cluster Gold Project. Cash flow from Sol Plaatjies will be applied to expedite our development plans for the whole tenement.

The Company will focus on developing a number of on surface lookalike projects to that of Sol Plaatjies but will also continue with its exploration program targeting a number of gaps identified in the vast historical data base with an intention to continue to expand the Company’s resource statement. The progression of these plans will be enabled by Sol Plaatjies and we expect to provide a steady flow of updates over the course of the next 12 months.”

About Sol Plaatjies Project

The objective of Sol Plaatjies is to remove, process and rehabilitate a 1,500m section of strike of Kimberly Reef outcrop adjacent to the village of Sol Plaatjies on the northern fringe of Soweto (see figure 1).

The extraction of the reef outcrop is planned to be undertaken through an open cut operation to remove ore to a depth of circa 30 metres for transport to a processing plant in the area. Following extraction of reef the land will be progressively rehabilitated to allow the landowner to commence development of an affordable housing project which will incorporate open parkland over the mined out areas.

For and on behalf of 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. Lease Map highlighting location of Sol Plaatjies Project