WEST WITS MINING LIMITED — Capital/Financing Update 2023

Apr 13, 2023

ASX Announcement and Media Release

14 April 2023

SPP SHORTFALL PLACEMENT

West Wits Mining Limited [ASX:WWI] ( WWI ) is pleased to advise that it has received binding commitments from unrelated sophisticated and professional investors for 78,571,429 fully paid ordinary shares including the shortfall of the recent Share Purchase Plan of the Company ( SPP ) at $0.014 (1.4 cents) per share (being the SPP price) to raise $1.1 million before costs.

Bids exceeded the shortfall available under the SPP of $902,000. The Company determined to scale back excess bids and approximately $200,000 has been accepted in addition to the SPP shortfall, resulting in a total raising amount of $1.1 million.

Funds raised from the placement and issue of the shares will be applied to those matters as described in the offer booklet for the SPP dated 20 February 2023 and released to ASX on that date.

The Shares are to be issued using the placement capacity available to the Company under Listing Rule 7.1A. An Appendix 3B for the proposed issue of the shares was released to ASX at or about the same time as this announcement.

Authorised for release by the Non-Executive Chairman.

For further information contact our Investor Relations:

Victoria Humphries / Peter Taylor

victoria@nwrcommunciations.com.au / peter@nwrcommunications.com.au

General info@westwitsmining.com

www.westwitsmining.com

ABOUT WEST WITS MINING LIMITED

West Wits Mining Limited ( ASX: WWI ) ( OTCQB: WMWWF ) is focused on the exploration, development and production of high value precious and base metals for the benefit of shareholders, communities and environments in which it operates. Witwatersrand Basin Project, located in the proven gold region of Central Rand Goldfield of South Africa boasts, a 4.28Moz gold project at 4.58g/t[1] . The Witwatersrand Basin is a largely underground geological formation which surfaces in the Witwatersrand. It holds the world's largest known gold reserves and has produced over 1.5 billion ounces (over 40,000 metric tons), which represents about 22% of all the gold accounted for above the surface. In Western Australia, WWI is exploring for gold and copper at the Mt Cecilia Project in a district that supports several world-class projects such as Woodie Woodie manganese mine, Nifty copper and Telfer gold/copper/silver mines.

1. The original report was “ WBP’s Global JORC Mineral Resource Expands by 724,000oz to 4.28MOZ at 4.58 g/t Gold ” which was issued with consent of the Competent Person, Mrs Cecilia Hattingh. The report was released to the ASX on 3 December 2021 and can be found on the Company’s website (https://westwitsmining.com/). Comprising 8.8MT at 4.60g/t for 1.449Moz measured, 11.3MT at 4.19g/t for 1.517Moz Indicated and 8MT at 5.10g/t for 1.309Moz inferred. The Company is not aware of any new information or data that materially effects the information included in the relevant market announcement and, in the case of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.