WESTAR RESOURCES LIMITED - Capital/Financing Update 2026

17 February 2026

ASX ANNOUNCEMENT

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ASX:WSR
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Exploration Update (amendment)

Westar Resources Limited (ASX: WSR ) ( Westar or the Company ) refers to the announcement made on 10 February 2026 and includes information as outlined in appendix 2 of the JORC table which was omitted from the previous announcement.

For further information please contact: Eddie King Non-Executive Director Westar Resources Limited T +61 8 6556 6000 E [email protected]

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Exploration Update

HIGHLIGHTS

Gidgee North

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An air core program planned over the Mageye prospect to follow up on strong Bi and Mo anomalism in previous RC drilling.

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Mageye air core targeting gold withing the mineralised intrusion.

Jerrys Bore

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Processed LiDAR data over the project area received from Aerometrex.

A program of soil auger sampling planned to follow up on pathfinder anomalism identified by a previous explorer.

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Bunda Creek

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Recently reprocessed aeromagnetic data over recently granted EL34118 are
being used to derive 3D inversions to highlight areas of structural complexity that can be followed up with more detailed EM and/or gravity surveys.
Westar personnel are also aiming to conduct reconnaissance field work in the June quarter of 2026.

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Mount Strawbridge

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Reconnaissance visit planned in Q1 2026 to the new tenement application lodged in the Burtville Terrane, in the NE Goldfields region.

Westar Resources Limited (ASX: WSR ) ( Westar or the Company ) is pleased to provide an update on the Company’s planned exploration programs for CY2026.

Exploration Programs

Gidgee North Project WA (Au, Cu, Zn)

The Gidgee North Project is located approximately 640 km northeast of Perth and 100km southeast of Meekatharra in the Murchison region of Western Australia ( Figure 1 ). The project comprises tenements E53/1920, E51/2032, and the Geoff Well farm-in project E53/1832-I.

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Figure 1. Location of the Gidgee North Project and the Mageye anomaly in the Gum Creek greenstone belt.

On E53/1832-I, the Mageye prospect consists of coincident “bullseye” gravity and magnetic anomalies defined by historic open-file aeromagnetic and gravity survey data [1] . Assays from two RC holes drilled in the March 2025 quarter returned strongly anomalous molybdenum, bismuth, and tungsten values with anomaly peak values of 985ppm Mo, 858ppm Bi, and 98ppm W in one of the

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holes [2] . Anomalous Mo, Bi, and W and the absence of anomalous As and Sb are indicative of the high-temperature part of a magmatic system. Although no gold anomalism or mineralisation was intersected in the two holes, such intrusion-related systems may be accompanied by gold mineralisation as at, for example, Mt Mulgine about 110km east-northeast of Three Springs [3] .

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Figure 2. Airborne magnetic image (TMI, RTP) showing the magnetic high at the Mageye prospect, previous WSR air core and reverse circulation holes, and planned air core holes.

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The Company has planned a program of air core drilling across Mageye ( Figure 2 ) to obtain bedrock samples for pathfinder geochemistry. These data will be used to target any gold-rich parts of the system. Westar is currently negotiating a Heritage Protection Agreement with the Tarlka Matuwa Piarku (Aboriginal Corporation) in the coming weeks to pave the way for a Heritage Survey at Mageye. The Company is hoping to carry out the program in the June quarter of 2026.

Jerrys Bore, WA (Au)

Westar lodged an application for a 67-block Exploration Licence (E38/4032) in the NE Goldfields about 165km north of Laverton in the Mt Margaret Mineral Field in the second half of 2025. The application covers part of the poorly exposed Deleta greenstone belt in the Burtville Terrane. The area under application covers a strike length of more than 20km along and adjacent to the De La Poer Fault, a major north-northwest–trending fault ( Figure 3 ). Much of the area is covered by aeolian sands.

Breaker Resources identified some low-level gold and arsenic anomalies in shallow auger holes [4] ( Figure 3 ), but they never progressed to drilling any targets. The auger holes were drilled to 1m depth and the -75µm fraction assayed. Arsenic, which is a common pathfinder element for gold, shows two discrete clusters of low-level anomalies. Background As values are estimated to be about 0.8ppm in the Eastern Goldfields [5] ; given the nature of the sample medium (aeolian sand) and the size fraction assayed, values >5× background are likely to be significant.

Reconnaissance work by Westar showed that material at depths of 1m or less is dominated by barren, aeolian sand. A small orientation geochemical survey carried out by the Company tested the size fraction taken by Breaker against the clay fraction (-2µm for Ultrafine+™ analysis) and >2mm goethite-rich nodules in the sand. The nodules range from red-brown and goethite rich to pale brown and partly friable. The nodules are typically concentrically zoned. Some of the nodules contain abundant inclusions of fine-grained aeolian quartz-rich sand suggesting that the nodules grew in place. The decision to sample the nodules was taken following work by CSIRO in the Yamarna greenstone belt which showed that the nodules may provide a better response over mineralised bedrock than finer fractions [6] . The main drawback with the nodules is that they are not always present at depths of 1m or less.

The orientation work indicates that the -75µm fraction is not as good a sample medium as either the clay fraction or the coarse-grained goethite-rich nodules ( Figure 4 ). The clay fraction provided the best response for Au, Bi, W, and Tl; the nodules the best response for As, Cu, Sb, and Te; the clay fraction and nodules provided equally good responses for Mo. Three of the coarse samples with pale, weakly ferruginous and somewhat friable nodules contained lower than average Au, As, Cu, Mo, and Sb values compared with the more goethite-rich nodules. All coarse fractions contained some quartz +/- feldspar, which would be too time consuming to remove completely. Sieving a coarser fraction (+4mm) would reduce the proportion of quartz in the final sample.

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Figure 3. Location of the Jerrys Bore tenement application and the interpretation by Yandan Gold Mines Pty Ltd (WAMEX Report A127992) of Breaker Resources’ geophysical data (WAMEX Report A094610). Note that the geophysical interpretation is yet to be meaningfully tested by drilling. Also shown are the As values of soil auger samples collected by Breaker.

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Figure 4. Box-and-whisker plot showing the results of a soil sampling orientation survey at Jerrys Bore. Sample locations are shown in Figure 3. The ‘boxes’ contain the 25[th] and 75[th] percentiles and the outlying ‘whiskers’ the 10[th] and 90[th] percentiles.

A regolith–landform model for E38/4032 ( Figure 5 ) produced by a remote sensing and mapping consultant, Dr Rich Langford, has been used to guide a planned regolith sampling and geochemistry program. Auger sampling will be carried out across the two main areas of anomalism defined by Breaker which also display some structural complexity. Sampling will target the clay fraction or, if available at a sufficient number of sites, coarse-grained goethite-rich nodules. Samples will be assayed for gold and multi-element chemistry to identify any pathways of hydrothermal alteration and generate targets for follow-up drilling. It is hoped to conduct the sampling program midway through the June quarter.

Processed LiDAR data have been received from Aerometrix that will provide a better DEM over the tenement, which is characterised by very little relief. These data will enable the Company to refine the regolith–landform interpretation before the regolith sampling is carried out.

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Figure 5. Regolith–landform model of E38/4032 and surrounds draped on a shaded relief image using resampled 30m TanDEM data. The model was produced by a consultant, Dr Rich Langford. The locations of Westar orientation soil samples and planned soil samples are also shown.

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Mount Strawbridge, WA (Au)

During the December quarter Westar lodged an application for a 43-block Exploration Licence (E38/4034) in the NE Goldfields about 160km northeast of Laverton and about 90km northwest of the Gruyere mine in the Mt Margaret Mineral Field [7] . The applied area lies a little over 5km west of the Yamarna Fault System, a broad crustal-scale fault system that separates the Burtville Terrane from the Yamarna Terrane to the east. The tenement application is cut by several faults subparallel to the Yamarna Fault System.

The limited historical exploration on the tenement was hindered by an incomplete understanding of the regolith and the influence of Permian sedimentation and glaciation, and possibly unsuitable size fractions for soil programs. Much of the area is covered by aeolian sands. Westar personnel will undertake a reconnaissance trip and an orientation geochemistry survey late in the March quarter, weather permitting.

Bunda Creek, NT (Cu/Pb-Zn)

In 2025 Westar lodged an application for a new Exploration Licence in the frontier Birrindudu Basin in the Northern Territory [8] ( Figure 6 ). The tenement, EL34118, was granted on the 14[th] of January 2026 for a term of six years.

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Figure 6. Simplified geology of EL34118 and surrounds. Tenements are plotted on the NTGS 1:2,500,000 geology regions. The structures and underlying basement topography are from SEEBASE [11] .

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Figure 7. Local geological setting of EL34118 showing interpreted structures on an image of Reduced to Pole TMI with 50% E gradient. Structures are derived from an NTGS data compilation of the Birrindudu Basin [12] and additional Westar interpretation.

The Company is exploring for stratiform sedimentary copper and other base metal deposits. Recent studies by the Northern Territory Geological Survey (NTGS), CSIRO, and Geoscience Australia (GA) highlight the prospectivity of the basin for copper [10,11] . Their novel work has provided evidence that a copper source is present, that oxidised basinal fluids have leached copper from the basement geology, and that a suitable reductant is present in the lower part of the succession.

Last quarter, Russell Mortimer from Southern Geoscience Consultants (SGC) reprocessed publicly available airborne magnetic and electromagnetic data from EL34118 and the surrounding area. These data have been used to add to the existing NTGS data compilation and interpretation of the Birrindudu Basin ( Figure 7 ). The magnetic data are also being used to derive 3D inversions to highlight areas of structural complexity that can be followed up with more detailed EM and/or gravity surveys. Westar personnel are also aiming to conduct reconnaissance field work in the June quarter of 2026.

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References in this Release

ASX: WSR, Maiden Aircore Drilling Program Completed at Gidgee North Project, 03 April 2023.
ASX: WSR, Mageye Drilling Update, 14 April 2025.
ASX: TGN, Mt Mulgine Tungsten Gold Strategy Strengthened by New Gold Exploration Targets – Amendment, 31 October 2025.
Sanders, T and Simson, M (2013), De La Poer Project E38/2516, E38/2517, E38/2518, E38/2519, E38/2520, Annual report for the period 21 July 2012 to 20 July 2013 (C64,2012). DMPE Statutory Report A99217.
S.W. Halley, Exploration in the Goldfields Big Day Out, Monday 20 March 2023, “Applied Lithogeochemistry in the Eastern Goldfields; Classification of rock types, hydrothermal alteration and pathfinders” (https://www.scotthalley.com.au/what-s-new; accessed 8/04/2025).
Salama et al. (2022), Significance of ferruginous pisoliths and interface sampling for gold exploration in the covered terrains. Journal of Geochemical Exploration, v. 233, 106974.
ASX: WSR, Quarterly Activities Report and Appendix 5B – December Quarter 2025 (Updated), 16 January 2026.
ASX: WSR, New copper tenement application in the NT, 07 July 2025.
Schmid, S and Baumgartner (2024), First insights into the sediment hosted copper mineral system of the Birrindudu Basin, NT. Northern Territory Geological Survey, 2024. Annual Geoscience Exploration Seminar (AGES). Presentations and posters. Northern Territory Geological Survey, Record 2024-002 .
Schmid, S and Crombez, V, (2023), Proterozoic sediment-hosted copper mineral systems in the Birrindudu Basin, Northern Territory. 6IAS: 6th International Archean Symposium – abstracts, 184–185.
Northern Territory Geological Survey and Geognostics Australia Pty Ltd, 2021. Northern Territory SEEBASE® and GIS - Gravity and Magnetics. Northern Territory Geological Survey, Digital Information Package DIP 031.
Foley EK, 2024. 3D data compilation of the Birrindudu Basin, Northern Territory. Northern Territory Geological Survey, Digital Information Package DIP 043.

ASX ANNOUNCEMENT ASX: WSR

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For the purpose of Listing Rule 15.5, this announcement has been authorised by the board of Westar Resources Ltd.

ENQUIRIES

Eddie King , Executive Director | [email protected] | Ph: (08) 6556 6000

The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled by Steve Sheppard, a Competent Person who is a Registered Member of the Australian Institute of Geoscientists (AIG; Member ID 5290). Steve is a fulltime employee of Westar Resources Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Steve consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information that has been extracted from prior announcements referred to in this release, are available to view on https://westar.net.au/. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of exploration results, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.’

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Westar Resources Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward-looking statements. Although Westar Resources Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

Appendix 1 – New soil sample locations

Sample ID	Easting	Northing	RL	Material	Comment on coarse fraction
WSRSS00006	447208	7002394	499	Aeolian sand	Very small sample of pea-sized nodules
WSRSS00007	447229	6999207	511	Aeolian sand	Small sample of pale, friable nodules
WSRSS00008	447621	6999203	510	Aeolian sand	Weakly ferruginous coarse material
WSRSS00009	448025	6999222	508	Aeolian sand	Abundant pea gravel
WSRSS00010	447442	7000801	502	Aeolian sand	Abundant coarse goethite nodules
WSRSS00011	447592	7000775	502	Aeolian sand	Small sample of pea gravel
WSRSS00012	448002	7000807	502	Aeolian sand	Small sample of pea gravel with some large nodules
WSRSS00013	447606	7002394	500	Aeolian sand	Small sample of pea gravel with some large nodules
WSRSS00014	448002	7002383	501	Aeolian sand	Small sample of pea gravel with some large nodules
WSRSS00015	447201	7004005	498	Aeolian sand	Small sample of pea gravel with some large nodules
WSRSS00016	447206	7005601	498	Aeolian sand	No sample
WSRSS00017	447588	7005594	500	Aeolian sand	Pea gravel with a few nodules
WSRSS00018	446797.5	7000792	503	Aeolian sand	No sample
WSRSS00019	446996.5	7000790	503	Aeolian sand	Small sample of very small nodules
WSRSS00020	447088	7000788	502	Aeolian sand	Abundant pea gravel with coarse nodules

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WSRSS00021	447340	7000794	502	Aeolian sand	Coarse to very coarse, weakly ferruginous nodules
WSRSS00022	447495	7000790	502	Aeolian sand	Abundant pea gravel
WSRSS00023	447018	7002402	498	Aeolian sand	Abundant pea gravel
WSRSS00024	447399	7002397	499	Aeolian sand	Granules and coarse, angular nodules
WSRSS00025	447542	7003975	499	Aeolian sand	Finer grained, pea gravel
WSRSS00026	446945	6999216	511	Aeolian sand	Polished rounded nodules up to 1cm

Appendix 2 – New soil sample results (ALS, -75µm fraction)

Sample ID	Au ppb	As ppm	Bi ppm	Cu ppm	Mo ppm	Sb ppm	Te ppm	Tl ppm	W ppm
WSRSS00006A	0.4	1.7	0.183	7.49	0.4	0.11	0.012	0.09	0.026
WSRSS00007A	0.7	2.59	0.217	12.3	0.49	0.133	0.016	0.143	0.032
WSRSS00008A	0.6	2.19	0.187	10.15	0.38	0.126	0.015	0.128	0.03
WSRSS00009A	0.7	2.27	0.206	10.55	0.5	0.122	0.016	0.14	0.028
WSRSS00010A	0.7	2.05	0.1995	9.48	0.46	0.136	0.015	0.111	0.03
WSRSS00011A	0.4	1.6	0.1805	7.31	0.38	0.122	0.011	0.092	0.022
WSRSS00012A	0.5	1.52	0.1775	6.46	0.42	0.104	0.012	0.087	0.027
WSRSS00013A	0.4	1.7	0.175	7.52	0.4	0.112	0.013	0.091	0.028
WSRSS00014A	0.4	1.74	0.1665	6.9	0.36	0.126	0.013	0.087	0.028
WSRSS00015A	0.4	1.7	0.172	6.94	0.42	0.116	0.013	0.099	0.024
WSRSS00016A	0.4	2.22	0.1845	8.53	0.44	0.128	0.016	0.098	0.029
WSRSS00017A	0.7	1.6	0.176	6.61	0.39	0.13	0.014	0.101	0.023
WSRSS00018A	0.4	2.27	0.186	9.56	0.5	0.125	0.017	0.095	0.027
WSRSS00019A	0.4	1.96	0.178	8.6	0.46	0.136	0.012	0.1	0.031
WSRSS00020A	0.7	1.76	0.1815	8.01	0.45	0.119	0.014	0.092	0.028
WSRSS00021A	0.6	2.08	0.1745	8.7	0.5	0.127	0.014	0.096	0.031
WSRSS00022A	0.5	1.8	0.1755	7.41	0.43	0.12	0.014	0.085	0.027
WSRSS00023A	0.4	1.78	0.1845	8.7	0.41	0.12	0.013	0.112	0.025
WSRSS00024A	0.4	1.72	0.17	7.58	0.46	0.123	0.012	0.091	0.026
WSRSS00025A	0.5	1.64	0.1695	7.09	0.38	0.114	0.013	0.081	0.028
WSRSS00026A	0.8	2.46	0.1795	11.65	0.42	0.12	0.019	0.127	0.038

Appendix 3 – New soil sample results (LabWest, UltraFine™+)

Sample ID	Au ppb	As ppm	Bi ppm	Cu ppm	Mo ppm	Sb ppm	Te ppm	Tl ppm	W ppm
WSRSS00006B	1.8	6.9	0.462	21.4	1.26	0.357	0.07	0.323	0.195
WSRSS00007B	2	7.4	0.474	27.8	1.33	0.377	0.073	0.419	0.191
WSRSS00008B	2.1	7.2	0.446	25.5	1.14	0.34	0.069	0.404	0.184
WSRSS00009B	2	7.9	0.472	27.8	1.49	0.39	0.08	0.451	0.204
WSRSS00010B	2.5	7.2	0.508	24.3	1.41	0.417	0.077	0.45	0.206
WSRSS00011B	1.9	7.7	0.467	20.7	1.4	0.373	0.076	0.354	0.202

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WSRSS00012B	2	7.1	0.436	20.4	1.43	0.326	0.059	0.377	0.145
WSRSS00013B	1.3	7.3	0.462	22.4	1.37	0.388	0.075	0.364	0.151
WSRSS00014B	1.6	6.7	0.464	19.7	1.28	0.354	0.065	0.365	0.114
WSRSS00015B	1.9	6.8	0.479	19.4	1.26	0.358	0.069	0.378	0.2
WSRSS00016B	1.2	9.2	0.476	29.1	1.56	0.411	0.079	0.423	0.182
WSRSS00017B	2.3	7.2	0.483	20.8	1.3	0.376	0.075	0.45	0.195
WSRSS00018B	0.9	5.4	0.53	18.3	1.04	0.451	0.088	0.319	0.247
WSRSS00019B	1.4	8.7	0.478	23.3	1.48	0.407	0.082	0.32	0.217
WSRSS00020B	3.2	7.2	0.484	23.3	1.52	0.383	0.072	0.343	0.218
WSRSS00021B	2.4	6.7	0.474	23.5	1.36	0.382	0.07	0.359	0.215
WSRSS00022B	2.4	7.6	0.506	22.7	1.51	0.406	0.069	0.414	0.204
WSRSS00023B	1.9	7.8	0.476	23.6	1.29	0.366	0.062	0.355	0.192
WSRSS00024B	1.5	7.1	0.482	22.9	1.41	0.381	0.069	0.388	0.188
WSRSS00025B	1.4	8.2	0.516	23	1.43	0.426	0.082	0.353	0.214
WSRSS00026B	4.6	7.4	0.407	34.9	1.16	0.327	0.065	0.441	0.279

Appendix 4 – New soil sample results (ALS, +2mm goethite nodules)

SampleID	Au_ppb	As_ppm	Bi_ppm	Cu_ppm	Mo_ppm	Sb_ppm	Te_ppm	Tl_ppm	W_ppm
WSRSS00006C	0.5	17.75	0.249	36.4	1.18	0.539	0.131	0.357	0.074
WSRSS00007C	0.4	9.43	0.215	30.2	0.83	0.276	0.071	0.365	0.045
WSRSS00008C	-0.2	2.33	0.144	9.18	0.43	0.118	0.017	0.115	0.026
WSRSS00009C	1.1	21.3	0.258	47.1	1.3	0.391	0.135	0.43	0.059
WSRSS00010C	0.7	23.5	0.242	43.6	1.38	0.483	0.131	0.385	0.057
WSRSS00011C	0.8	25.3	0.273	49.7	1.68	0.478	0.144	0.222	0.065
WSRSS00012C	1.6	26.8	0.306	32.8	1.74	0.573	0.183	0.105	0.093
WSRSS00013C	0.6	24.5	0.283	55.3	1.5	0.566	0.163	0.277	0.072
WSRSS00014C	0.4	26.5	0.293	49.4	1.32	0.505	0.16	0.299	0.076
WSRSS00015C	0.8	27.5	0.432	40.8	2.33	0.512	0.197	0.636	0.059
WSRSS00017C	1.8	28.5	0.334	45.8	2.02	0.537	0.173	0.556	0.069
WSRSS00019C	1	19.6	0.211	45.9	1.05	0.385	0.108	0.092	0.076
WSRSS00020C	0.8	24.9	0.271	38.1	1.66	0.596	0.168	0.179	0.09
WSRSS00021C	0.3	16.9	0.222	26.5	1.2	0.444	0.102	0.176	0.055
WSRSS00022C	0.8	23.9	0.258	46.8	1.57	0.68	0.162	0.224	0.097
WSRSS00023C	0.2	17.1	0.207	46.6	1.16	0.446	0.124	0.281	0.049
WSRSS00024C	0.7	25.7	0.271	49.6	1.7	0.702	0.171	0.338	0.092
WSRSS00025C	1.5	29.8	0.36	46.7	2.02	0.544	0.182	0.259	0.062
WSRSS00026C	0.3	15.5	0.228	51	1.14	0.398	0.112	0.444	0.056

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About Westar Resources Ltd

Westar Resources is a Perth-based resource company focused on creating value for shareholders and the communities we live and work in, through the discovery, acquisition and development of high-quality gold and copper projects in supportive jurisdictions. Westar’s projects are strategically located in the highly prospective Yilgarn Craton near Southern Cross and Sandstone in Western Australia and in the frontier Birrindudu Basin in the Northern Territory.

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JORC Code, 2012 Edition – Table 1 report Section 1 Sam5 February 2026 pling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Breaker Resources NL collected soil samples using an Edson auger rig mounted on a Toyota Landcruiser with solid rubber tyres operated by Prodrill Pty Ltd (WAMEX Report A99217). Samples were collected from 0.5 to 1.0m depth. Samples of ~5kg were sieved to obtain a -75µm (200 mesh) sample weighing a minimum of 80g. Westar soil samples were collected from 0.5-0.7m depth using a shovel. Three samples were collected at each site: (1) about 1.5–3kg of material sieved to -250µm for Ultrafine+™ analysis at LabWest; (2) up to 250g of material sieved to -75um was collected to be sent to ALS in Perth, and (3) about 50 to 200g of goethite-rich nodules in the +2mm size fraction for analysis at ALS in Perth. Final samples of the coarse fraction were dominated by the goethitic nodules, but some quartz remained in each. All samples were collected dry.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	For the Breaker samples, an Edson auger rig mounted on a Toyota Landcruiser was used to collect the samples. No further details are provided in the WAMEX report. Nine hundred and thirty-five samples were collected by Breaker. No drilling was undertaken by Westar. Twenty-one samples were collected by Westar.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	No details on sample recovery or the nature of the samples was provided by Breaker. No drilling was undertaken by Westar.

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Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	The samples collected by Breaker and Westar cannot be used in a Mineral Resource Estimation. No notes on samples were recorded by Breaker. Westar recorded the nature of rock fragments in the holes excavated.
Sub- sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	No details on the sampling procedure by Breaker are given. Sample sizes are considered to be appropriate for the early stage of the work, the grain size, and the mineralisation style being targeted. Westar samples were collected from the bottom of the hole at 0.5-0.7m depth. Material from above that in the hole was placed to the side and not included in the sieved samples. Sample sizes are appropriate for the early stage of the work, the grain sizes and the mineralisation style being targeted. At three sites, nodules could not be collected or comprised only ~20g of material. At ALS, up to 250g of the coarse fraction was riffle split and pulverized to >85% passing -75µm with three samples undergoing a pulverization test returning >97% passing -75µm. The finer fraction was already sieved to -75µm in the field. Following digestion using aqua regia, samples (0.5g) were analysed for Au and 52 other elements using Super Trace Lowest DL AR by ICP-MS (lab code ME-MS41L). Small samples of nodules were hand pulverized. At LabWest, the samples were dried, rotary divided where required and pulverised in an LM1 mill. A 50g subset was collected which the laboratory used to extract a - 2µm (clay) fraction, which is then analysed for Au and 52 other elements by ICP- MS following an aqua regia digest. The method is considered a partial digest appropriate for soil sampling.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	For the auger work, samples were sent to Acme Analytical Laboratories (Vancouver) Ltd for multielement analysis (15g aqua regia digest, ICP MS finish, assay code 1905 full suite, 53 elements). Aqua regia is considered a partial digest; gold or other metals in refractory minerals and silicates may remain largely undigested. Breaker collected duplicate samples every 30thsample (30, 60, 90 sample number suffixes) and standards were included every 33rdsample (33, 66, 99 sample

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	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	number suffixes). No field duplicates were collected by Westar and no standards were inserted. For the Westar work, LabWest included two blanks and two CRMs (OREAS-260 and OREAS 45f) with elements of interest either close to or within the range of values returned by the soil samples. ALS analysed two replicate samples, two blanks, and assays for four CRMs (OREAS 920, OREAS 262b, GBM321-8, and MRCA-21) with element abundances close to or within the range of values returned by the soil samples.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Not applicable as only 1m auger samples were collected by Breaker. No drilling was conducted by Westar.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	Sites were located by both Breaker using a hand-held GPS and by Westar using a field tablet computer with a GPS. In both instances, the instruments have a nominal horizontal accuracy of ±5m. This is not sufficient to support a Mineral Resource Estimate but is suitable for presenting exploration results. Breaker recorded RLs but no details are given as to how they were derived. Westar estimated RLs using the DTM derived from the LiDAR survey from Aerometrex with a vertical accuracy of 0.1m (1σ). The grid system used is MGA94 Zone 51. All coordinates in this release refer to this grid system.
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	No drilling was undertaken, and soil samples are not appropriate for a Mineral Resource Estimation. No sample compositing has been applied.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to	No drilling was undertaken. However, the sample lines of Breaker Resources were oriented close to perpendicular to the main structures on the tenement.

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	have introduced a sampling bias, this should be assessed and reported if material.
Sample security	The measures taken to ensure sample security.	Breaker did not provide information on sample security. Westar samples were driven back to Perth by the CP and delivered directly to the laboratories.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No independent audits or reviews of the sampling techniques and data were undertaken.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Mageye prospect is on E53/1832-I and is in good standing with DMPE. As indicated in the text, the Jerrys Bore tenement (E38/4032) is still in application and the Bunda Creek tenement (EL34118) has only recently been granted. The Mageye prospect is covered by Native Title Determination Wiluna #5 with the Tarlka Matuwa Piarku Aboriginal Corporation RNTBC on behalf of the Native Title Owners. Discussions have started regarding a heritage protection agreement.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	There has been no previous exploration of the Mageye prospect by earlier explorers. Previous exploration on the wider Gidgee North Project has been undertaken by Rafaella Resources Ltd, Dominion Mining, Panoramic Gold, Legend Mining, Arimco Mining, Gateway Mining, CRA Exploration, Cyprus Minerals Australia, Mayan Iron Corporation, Australian Gold Resources, Apex Minerals and others. Bunda Creek has seen no previous exploration. Earlier exploration by Breaker Resources at Jerrys Bore is discussed in the main body of the text.
Geology	• Deposit type, geological setting and style of mineralisation.	The Mageye prospect has potential for an intrusive-related gold ± molybdenum– bismuth system; Jerrys Bore is being explored for orogenic gold deposits, and; Bunda Creek is prospective for sedimentary-hosted copper and base metals deposits. The geological context for all three projects is provided in the main body of the announcement.
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill	Refer to Appendices 1–3 for the details of the new soil samples.

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	holes: `o` easting and northing of the drill hole collar `o` elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar `o` dip and azimuth of the hole `o` down hole length and interception depth `o` hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	No data aggregation methods or metal equivalents have been applied to these exploration results.
Relationship between mineralisatio n widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg‘down hole length, true width not known’).	Not applicable, as no drilling was carried out.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Suitable plans have been included in the body of the report to provide context for the results.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be	All new results have been reported.

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	practiced to avoid misleading reporting of Exploration Results.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	All meaningful and material data are included in the body of the announcement.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	The areas of planned soil sampling are indicated in the body of the text.

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WESTAR RESOURCES LIMITED Capital/Financing Update 2026

66085_rns_2026-02-16_51956c06-21ec-4197-921c-ac560e9b472c.pdf

ASX ANNOUNCEMENT

Exploration Update (amendment)

Exploration Update

HIGHLIGHTS

Gidgee North

Jerrys Bore

Exploration Programs

Gidgee North Project WA (Au, Cu, Zn)

Jerrys Bore, WA (Au)

Mount Strawbridge, WA (Au)

Bunda Creek, NT (Cu/Pb-Zn)

References in this Release

ENQUIRIES

Eddie King , Executive Director | [email protected] | Ph: (08) 6556 6000

Forward-Looking Statements

Appendix 1 – New soil sample locations

Appendix 2 – New soil sample results (ALS, -75µm fraction)

Appendix 3 – New soil sample results (LabWest, UltraFine™+)

Appendix 4 – New soil sample results (ALS, +2mm goethite nodules)

About Westar Resources Ltd

JORC Code, 2012 Edition – Table 1 report Section 1 Sam5 February 2026 pling Techniques and Data

Section 2 Reporting of Exploration Results

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WESTAR RESOURCES LIMITED — Capital/Financing Update 2026

66085_rns_2026-02-16_51956c06-21ec-4197-921c-ac560e9b472c.pdf

ASX ANNOUNCEMENT

Exploration Update (amendment)

Exploration Update

HIGHLIGHTS

Gidgee North

Jerrys Bore

Exploration Programs

Gidgee North Project WA (Au, Cu, Zn)

Jerrys Bore, WA (Au)

Mount Strawbridge, WA (Au)

Bunda Creek, NT (Cu/Pb-Zn)

References in this Release

ENQUIRIES

Eddie King , Executive Director | [email protected] | Ph: (08) 6556 6000

Forward-Looking Statements

Appendix 1 – New soil sample locations

Appendix 2 – New soil sample results (ALS, -75µm fraction)

Appendix 3 – New soil sample results (LabWest, UltraFine™+)

Appendix 4 – New soil sample results (ALS, +2mm goethite nodules)

About Westar Resources Ltd

JORC Code, 2012 Edition – Table 1 report Section 1 Sam5 February 2026 pling Techniques and Data

Section 2 Reporting of Exploration Results

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