WEST WITS MINING LIMITED — Capital/Financing Update 2019

Mar 31, 2019

ASX Announcement (ASX: WWI)

Monday, 1st April 2019

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Mining Right Application Advances

Highlights

• Approval of WWI’s Scoping Document received by the South African Regulator to advance the Mining Right Application Witwatersrand Basin Project’s (“WBP”)

• The Environmental Impact Assessment (“EIA”) is well advanced and expected to be submitted by the end May 2019, triggering the final Mining Right application review process

• Agreement reached with remaining Native Title Party at highly prospective Mt Cecelia Paterson Province project, clearing all objections to enable granting of the Exploration License

• WBP’s Mining Permit applications are expected to be completed soon now the Scoping Report has been accepted

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Michael Quinert, Executive Chairman commented: “The notification of formal acceptance of the WBP’s Scoping Report by the Department of Mineral Resources (“DMR”) completes a critical phase of the Mining Right Application and moves the Company closer to full-scale mine development on the existing 3.65Moz Au JORC Resource[1] . The Company is also pleased to report the remaining objection to Mt Cecelia Project’s Exploration License application has been withdrawn, removing a significant hurdle to granting. Mt Cecelia’s tenement area is situated within the highly prospective Paterson Province of Western Australia. The Company anticipates announcing an exploration plan for the project in coming months.”

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West Wits Mining Limited (ASX: WWI) (“WWI” or “the Company”) is pleased to confirm the South African mining regulator, DMR, has accepted the Scoping Report for WBP’s Mining Right application, which further advances WWI’s strategic transformation into a junior miner. The withdrawal of all objections to the Company’s Mt Cecelia Exploration License Application in the Eastern Pilbara clears the way for granting of the license and subsequent implementation of an exploration program in the highly prospective Paterson Province.

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WBP - Mining Right Application

The DMR has formally accepted WWI’s Scoping Report, which achieves a significant milestone in the Mining Right application process and moves the WBP closer to mine development.

The DMR was satisfied the submitted Plan of Study for Environmental Impact Assessment and Scoping Report complies with EIA regulations, enabling Management to complete the

West Wits Mining Limited ABN 89 124 894 060 Level 3, 62 Lygon Street Carlton VIC 3053 Australia P +61 3 8692 9049 F +61 3 8692 9040 www.westwitsmining.com

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Environmental Impact Assessment Report (“EIAR”) which is the final stage of the Mining Right submission process.

The compilation of the EIAR is well advanced, in anticipation of the DMR’s acceptance of its Scoping Report the Company has already completed the majority of the independent specialist studies with the remaining few studies expected to be finalised by the end of April 2019.

The EIA public review process is scheduled to take place for a 30-day period from mid-April 2019 which will enable the EIAR to be completed for submission to the DMR before the end of May 2019.

On submission of the EIAR, the DMR has 107 days to provide a recommendation on the granting of an environmental authorisation to the Minister for determination. The DMR’s stipulated review period can therefore potentially extend to early September 2019, two months past the initial timeframe, however Management plans to maintain close engagement with the DMR which is hoped to facilitate a shorter timeframe.

FIGURE 1: Map of WBP’s Prospecting Right area and initial targets under the Mining Right application

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Source: Company

WBP - Mining Permit Applications

The DMR has indicated that the Mining Permits would be decided upon after a decision has been made on the acceptance of the Scoping Report in respect of the Mining Right application. The delay in finalising the Mining Permits by the DMR is due to the overlapping application areas as well as Interested and Affected persons consulted with the broader Mining Right which resulted in a more exhaustive community engagement

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process. Based on communication with the DMR’s Regional Manager and officials, a decision on the Mining Permits is expected soon.

Given the delay in receiving the Mining Permits and the expected granting of the broader Mining Right, which encompasses the Mining Permit areas, the Board will be reviewing the business case to progress with the tabled Permit operations or alternatively delay the Permit operations until the granting of the full Mining Right, offering economies of scale with a larger mining operation.

Mt Cecelia – Exploration License Application

The remaining objection to West Wits’ Exploration License (“EL”) application covering the Mt Cecelia tenement in the Paterson Province of Western Australia has been withdrawn from the Department after agreement was reached with the Native Title Party. The withdrawal of the objection removes a significant hurdle, allowing the Department of Mines, Industry Regulation and Safety (“DMIRS”) to complete the EL granting process.

The recent Exploration Licence applications by Rio Tinto Limited (ASX: RIO) and announcements concerning its’ Winu Project in the Paterson Province region, approximately 70km’s east of Mt Cecelia, indicates the potential prospectivity of the area. The Paterson Province is highly prospective for gold and copper mineralisation and includes mining operations such as Metals X Limited’s (ASX: MLX) Nifty copper mine and Newcrest’s (ASX: NCM) Telfer gold mine with the latter recently expanding its’ interest in the area, reaching a Farm-In Agreement with Greatland Gold plc’s (AIM: GGP) Haverion tenement.

FIGURE 1: Mt Cecelia and neighboring East Kimberley tenements

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Source: Company

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For and on behalf of the Board

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Michael Quinert

Executive Chairman West Wits Mining Limited

Investor Relations:

Contact Simon Whyte on: +61 459 797 101

Otherwise, for further information visit: www.westwitsmining.com

• 1) The original report was “2018 Annual Report to shareholders” which was issued with consent of competent persons, Dr Andrew J. Tunks and released to the ASX on 27th September 2019 and can be found on the Company’s website (https://westwitsmining.com/). All material assumptions and technical parameters underpinning the estimates used to determine the Mineral Resource have not materially changed & the company is not aware of any new information or data that materially effects the information included in the relevant market announcement. The form & context in which the Competent Persons’ findings are presented have not been materially modified.