WEST WITS MINING LIMITED — Capital/Financing Update 2017

Jun 1, 2017

ASX: WWI www.westwitsmining.com

ASX Announcement and Media Release Friday, 2 June 2017

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Fast Facts @ 2 June 2017 Capital Structure: Shares on issue 456 million Options 52 million Market Cap A$9.6 million Cash in Bank A$0.3 million Debt Nil Enterprise Value (EV) A$9.3 million EV/oz A$6.76/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%

Company Highlights

 South Africa

o near surface and underground targets o 1.374m oz JORC resource ‐ 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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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

Mining Contractor selected for Sol Plaatje

Highlights

• New contractor now appointed to recommence operations at Sol Plaatje Gold Project (''SPP")

• Fleet now being mobilized with operations anticipated to begin within 3 weeks

• SPP recommencement key step to developing the Soweto Cluster

West Wits Mining Limited (ASX: WWI) ("the Company" or "West Wits") is pleased to announce a new contractor has now been appointed to recommence mining at the Sol Plaatje Project (''SPP") which is located within the Soweto Cluster Gold Project, Johannesburg, South Africa.

Following an extensive process West Wits, in conjunction with its partner and head contractor Elandiwave (Pty) Ltd ("Elandiwave"), have formally accepted the tender of ALS Mining Proprietary Limited ("ALS") to conduct load and haul services at SPP. ALS have commenced the process of mobilisation to locate plant and equipment to site with a plan to re commence work by no later than 19 June 2017.

Several expressions of interest and tenders were received. ALS was chosen because of its extensive track record in demonstrating the capacity and expertise to handle complete open pit mining contracts in hard rock environments. Reference checks undertaken all verified ALS as a competent contractor of high integrity. The scope of works on which the tender was based calls for monthly production of 15,000 tonnes reef ore. Achievement of this tonnage rate will meet the requirements of the SPP mine plan and deliver steady revenue.

With the key load and haul services contractor now in place Wits and Elandiwave are now assessing three alternative proposals for contract processing of SPP ore and expect to make a decision within the next two to three weeks on processing.

Michael Quinert commented: "The appointment of ALS is the key step to enabling the recommencement of production at SPP. The team have learnt much from the first phase of mining at SPP and are now confident in the success of the project going forward.

SPP will provide the platform for West Wits to fully implement its plans for the wider Soweto Cluster. We have already mapped out the work and studies needed to demonstrate the viability of the Soweto Cluster as a reborn gold mine. We now only need steady state production at SPP to commence that process and we are eager to get cracking."

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

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 .

FURTHER INFORMATION:

About Soweto Cluster Gold Project (“Soweto Cluster”)

The gold mineralisation of the Soweto Cluster deposits form part of the Central Rand Goldfield. The Central Rand Goldfield has been host to one of the most extensive gold reserves in the world. The reefs have been mined continuously on strike for approximately 46km in an east/west direction. Between 1886 and 2000, approximately 9,000 tons (approx. 247M oz Au) of gold were extracted from the Central Rand Goldfield.

The Soweto Cluster comprises two historic mining centres known as the Durban Roodepoort Deep and the Rand Leases in the Central Rand Goldfield. Mining has been taking place within these areas since discovery of the goldfield in 1896. During that time up to seven different gold bearing conglomerate horizons were mined from surface down to a depth of 3 100 metres and total production for the combined Durban Roodepoort Deep and Rand Leases area was over 40 million ounces of gold at a grade of 5g/t.