WEST WITS MINING LIMITED — Capital/Financing Update 2018

Dec 2, 2018

ASX Announcement (ASX: WWI)

Monday 3[th] December 2018

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Review of Regional Data Highlights

Mt Cecelia’s Project Prospectivity

Highlights:

• ➢ Review identifies the Mt Cecelia project is on the boundary between the world class coppergold rich Paterson Province and the Pilbara Craton providing an exciting exploration opportunity

• ➢ The area surrounding West Wit’s Mt Cecelia project has recently been pegged by Rio Tinto Ltd

• ➢ Native Title Party withdraws objection to West Wits’ Mt Cecelia Project Exploration License application (E45/045)

• ➢ The north eastern portion of Mt Cecelia is prospective for IOCG mineralisation found throughout the Paterson Province, including Newcrest Mining Limited’s Telfer mine and the recently reported Greatland Gold Plc (LON: GGP) intersection of 275m @ 4.77g/t Au & 0.61% Cu at the Haverion Prospect

• ➢ The south western portion of Mt Cecelia is underlain by rocks of the Pilbara Craton and is prospective for the style of conglomerate hosted gold mineralisation recently discovered throughout the Pilbara such as NOVO Resources (TSX-V: NVO) Beatons Creek Project

West Wits Mining Limited (ASX: WWI) (“West Wits” or “the Company”) is delighted to announce that a recent review of regional data shows the Mt Cecelia project overlies the geological contact between the copper-gold rich Paterson Province and the older Pilbara Craton with both terranes prospective for differing styles of gold and base metals. West Wits has been monitoring tenure application and exploration activity in the region in close proximity to its’ Mt Cecelia project. The recent Exploration Licence applications by Rio Tinto supports the prospectivity of the area. The Paterson Province is highly prospective for gold and copper mineralisation, including mining operations such as Metal X Limited’s (ASX: MLX) Nifty copper mine and Newcrest’s Telfer gold mine.

West Wits Exploration director Dr Andrew Tunks stated, “ Recent exploration activity throughout the Paterson Province has confirmed the exciting prospectivity of the Mt Cecelia Exploration Licence Application (ELA). For some time there have been rumours of Rio Tinto making a significant Copper Gold discovery to the east of Mt Cecelia. A spectacular intersection of gold and copper by Greatland Gold to the east of Telfer confirms the Paterson Province as host to further globally significant Iron Oxide Copper Gold (IOCG) systems. Mt Cecelia sits on the contact zone between two well-endowed gold provinces, it also covers the most prominent magnetic high on the eastern edge of the Paterson Province, an exciting sign to the possible presence of an IOCG system.”

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ASX Announcement (ASX: WWI)

Monday 3[th] December 2018

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Recent Regional Activity

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Figure 1: Mt Cecelia and neighbouring East Kimberley tenements

The West Wits Mt Cecelia project is located approximately 150km ENE of Marble Bar, 150km NW of Telfer Mine, and 120km NNW of Nifty Mine (Figure 1) in proximity to infrastructure.

The East Pilbara and Paterson Province in Western Australia has seen a significant increase in activity over the past 12 months which has largely been driven by Rio Tinto with the global major increasing its’ tenement area from approximately 1,000km[2] to over 11,000km[2] in the region. Four of Rio’s applications adjoin Mt Cecelia, encompassing over 60% of the project’s border area (Figure 1).

The Braeside project, held by Rumble Resources Ltd (ASX:RTR) is located immediately south of the project area (Figure 1). The mineralisation is considered to be polymetallic that typically includes lead, zinc, silver, and copper. Mineralisation occurs in quartz veins associated with NNW-trending, steeply dipping and silicified faults, that form structures along the western edge of the Paterson Province, in rocks of the Fortescue Group.

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ASX Announcement (ASX: WWI)

Monday 3[th] December 2018

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RIO airstrip application
Mt Cecelia
Haverion
Nifty
Telfer
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Figure 2 – West Wits Mt Cecelia project location shown over a background Total Magnetic Intensity (TMI) image. Granted Rio Tinto Licences are highlighted in Light Blue and more recent Rio Tinto applications are in Red. Also shown are the Telfer Au mine (Newcrest), Haverion Prospect (Greatland Gold) and Nifty mine (Metals X). West Wits Mt Cecelia Project sits astride a major magnetic anomaly.

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ASX Announcement (ASX: WWI)

Monday 3[th] December 2018

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Geology and Prospectivity at Mt Cecelia

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Figure 3 – Stratigraphy map of Mt Cecelia’s tenement area highlights the older Archeaan rocks to the south west and the younger Proterozoic rocks to the north east which are associated with IOCG deposits.

Iron Oxide Copper Gold Potential

IOCG deposits are well known in Proterozoic rocks of Central Australia and include the supergiant Olympic Dam deposit. Telfer is a probable gold rich IOCG deposit and has produced over 30M oz of gold since its discovery in the 1980’s. Recent exploration success by Greatland Gold to the east of Telfer highlights the continued potential of the Paterson Province to host more of this style of mineralisation. The very significant magnetic anomaly within the Mt Cecelia project area (Figure 2) could indicate increased prospectivity for IOCG mineralisation.

Conglomerate Hosted Gold Potential

Conglomerate-hosted gold deposits are a palaeoplacer style that is modified by metamorphism and hydrothermal fluid flow subsequent to initial sedimentation. Gold is sourced from greenstone-hosted quartz veins in peripheral granite-greenstone terrane and concentrated within coarse-grained sediment beds by high-energy water flow. In the Pilbara, the lower units of the Fortescue Group are known to host palaeoplacer gold. These units have been mapped in the SW corner of the Mt Cecelia Project (Figure 3).

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ASX Announcement (ASX: WWI)

Monday 3[th] December 2018

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Exploration License Application

Management is pleased to report that discussions with one of the two Native Title Parties has resulted in the withdrawal of that party’s objection to West Wits ELA. The Company is continuing to work with the remaining Native Title Party through the National Native Title Tribunal process and is confident in reaching an outcome that benefits both parties, moving the application closer to granting.

Conclusion

The Mt Cecelia project overlies the contact between the copper-gold rich Paterson province and the Hardey Formation conglomerate which is prospective for conglomerate hosted gold, as well as a third NNE SSW mineralisation corridor that contains gold and base metals. West Wits is progressing the exploration licence application for the Mt Cecelia project and intends to commence a detailed desktop study on the gold and base metal potential.

For and on behalf of the Board,

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Michael Quinert Chairman West Wits Mining Limited

Investor Relations:

Contact Simon Whyte on: +61 459 797 101 Otherwise, for further information visit: www.westwitsmining.com

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