WESTERN MINES GROUP LTD — AGM Information 2021

Nov 1, 2021

==> picture [369 x 160] intentionally omitted <==

• WESTERN MINES GROUP

==> picture [511 x 692] intentionally omitted <==

----- Start of picture text -----

@westernmines
westernmines
Western Mines Group
ASX: WMG
www.westernmines.com.au
----- End of picture text -----

DISCLAIMER

==> picture [270 x 117] intentionally omitted <==

NATURE OF THIS DOCUMENT

This presentation has been prepared by Western Mines Group Limited ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained.

This presentation is a visual aid and is not intended to be read as a stand alone document. The material contains selected and abbreviated summary information about the Company and its subsidiaries and their activities current as at the date of this presentation. The material is of general background and does not purport to be complete. The Company is not responsible for providing updated information and assumes no responsibility to do so.

NOT AN OFFER

This presentation is for information purposes only and does not purport to be all inclusive or to contain all information about the Company or any of the assets, current or future, of the Company. This presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law.

This presentation also does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in any jurisdiction nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities.

This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. This presentation and its contents must not be distributed, transmitted or viewed by any person in the United States or any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

NOT INVESTMENT ADVICE

To the maximum extend permitted by law, the information contained in this presentation is given without any liability whatsoever being accepted by the Company or any of its related bodies corporate or their respective directors, officers, partners, employees, advisors and agents. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and its contents are not intended to be used for the basis of making an investment decision. No representation or warranty, express or implied, is made as to the accuracy, completeness or thoroughness of the information, whether as to the past or future.

Recipients of this presentation should carefully consider whether the company is an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. This presentation does not take into account the individual investment objectives, financial situation and particular needs of each recipient of this presentation. Therefore recipients of this presentation may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products.

FORWARD LOOKING STATEMENTS

Statements and material contained in this presentation, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of the Company, industry growth or other trend projects are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties and are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant.

Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

DISCLAIMER

No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this presentation, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. To the maximum extent permitted by the law, the Company disclaims any obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

COMPETENT PERSON STATEMENT

Dr Caedmon Marriott who is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists, is Managing Director of the Company. Caedmon has sufficient experience that is relevant to the styles of mineralisation and type of deposits under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Caedmon consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

MONETARY VALUES

Unless otherwise stated, all dollar values are in Australian Dollars (A$). The information in this presentation remains subject to change without notice.

==> picture [52 x 51] intentionally omitted <==

2

Western Mines Group AGM Presentation, November 2021

ASX:WMG

COMPANY OVERVIEW

WESTERN MINES GROUP

• [Well funded following IPO - ] [$5.03m cash at 30 September 2021]

• [High-impact exploration throughout 2022 ]

==> picture [270 x 117] intentionally omitted <==

10x “An exploration driven company looking to create value through discovery”

• [Tight capital structure with 43.8m shares - ] [exceptionally leveraged to exploration success]

• [Multiple “company making” opportunities across 3 current priority projects all in WA’s Goldfields: ]

• Mulga Tank (Ni-Cu-PGE) major Ni-Cu-PGE project , completion of high-powered, highresolution ground geophysical surveys to define robust drill targets for 2022

• Jasper Hill (Au) - recently expanded and consolidated project - 3km mineralised trend gold with walk up drill targets

• Melita (Au, Cu-Pb-Zn) - Kookynie area , adjacent to Genesis Minerals (ASX:GMD) Ulysses Project (1.61Moz @ 1.8g/t Au), both Au and Cu-Pb-Zn focus

• [Experienced and successful board and management]

• [Compelling valuation][ - MCap ~$8m / EV ~$3m versus peers at 2-3x ]

Well funded $5.0m cash | Low EV $3.3m | Very tightly held

Western Mines Group Ltd

Western Mines Group Ltd ASX:WMG Shares Outstanding 43,800,001 Share Price (29/10/21) $0.205 Market Capitalisation $8.32 Million Cash (30/09/21) $5.03 Million Unlisted Options 18,400,000

Major Shareholders: Ilwella Pty Ltd 9.4% Apertus Capital Pty Ltd 6.9% JAF Capital Pty Ltd 4.6% Bellaire Capital Pty Ltd 3.6% Luye Li 3.6% Top 20 Shareholders 51.9% Directors and Management 8.0%

==> picture [52 x 51] intentionally omitted <==

3

Western Mines Group AGM Presentation, November 2021

ASX:WMG

DIRECTORS

==> picture [270 x 117] intentionally omitted <==

==> picture [177 x 174] intentionally omitted <==

Capital Markets | Corporate Management

Non-Executive Chairman Rex Turkington

Rex is a highly experienced corporate advisor and economist who has worked extensively in the Australian financial services and stockbroking industry, specialising in the natural resources sector and participating in numerous initial public offerings and capital raising for ASX listed companies. Rex is currently Managing Director of South Pacific Securities, an advisory company offering corporate finance and investor relations advice to listed companies. He was previously Chairman of Key Petroleum (ASX:KEY) and Non-Executive Director of TNG Limited (ASX:TNG). Rex is a graduate of the Australian Institute of Company Directors (GAICD) and an associate of the Financial Services Institute of Australia (AFINSIA).

==> picture [177 x 174] intentionally omitted <==

Exploration | Capital Markets

Dr Caedmon Marriott Managing Director

Caedmon has over 18 years experience in mineral exploration and equity capital markets. Caedmon was previously Managing Director of Western Australian gold and nickel explorer Aldoro Resources (ASX:ARN) and prior to that Managing Director of private exploration company Hanno Resources, responsible for establishing and managing the company’s frontier exploration strategy in Western Sahara. Prior to Hanno, Caedmon worked as a buy-side mining analyst at GLG Global Mining Fund, Och-Ziff Capital and JPMorgan Natural Resources Fund. He holds a PhD in Geology, is a Chartered Financial Analyst and a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and the Australian Institute of Geoscientists (MAIG). Caedmon is currently a Non-Executive Director of Golden Mile Resources (ASX:G88).

==> picture [177 x 169] intentionally omitted <==

Business Development | Capital Markets

Francesco Cannavo Non-Executive Director

Frank is an experienced public company director and entrepreneur with significant business and investment experience across a number of industries, including mining and natural resources. He has a strong network of investors and industry contacts throughout the Asia-Pacific region and has extensive experience in capital raising, investments and initial public offerings. Frank has been instrumental in assisting several listed and unlisted companies achieve their growth strategies through the raising of capital and the acquisition of assets. Frank is currently a Non-Executive Director of Lifespot Health (ASX:LSH).

==> picture [177 x 175] intentionally omitted <==

Exploration | Corporate Management

Paul Burton Non-Executive Director

Paul is an experienced mining executive, having worked in the resources sector throughout Australia and overseas for the last 30 years. Paul is currently the Managing Director and CEO of TNG Limited (ASX:TNG) and was involved in the discovery and development of the company’s flagship Mount Peake project. Prior to TNG, Paul held senior and executive roles at Anglo American, De Beers, Normandy Mining and Minotaur Exploration (ASX:MEP). Paul is a graduate of the Australian Institute of Company Directors (GAICD), a fellow of the Association of Applied Geochemists (FAAG), a member of Australasian and Canadian Institutes of Mining and Metallurgy (MAusIMM, MCIM) and a member of the British Institute of Directors (MIoD).

==> picture [52 x 51] intentionally omitted <==

4

Western Mines Group AGM Presentation, November 2021

ASX:WMG

PROJECTS

==> picture [270 x 117] intentionally omitted <==

==> picture [935 x 792] intentionally omitted <==

Au and 8 Projects High-impact Ni-Cu-PGE 3 Priority exploration focus

Mulga Tank (Ni-Cu-PGE)

• [Major dunite intrusive and ] [key portion ][of the under-explored Minigwal ] Greenstone Belt, significant evidence for a working Ni-Cu-PGE sulphide mineral system

Jasper Hill (Au)

• [Primary gold project, recently consolidated 3km mineralised trend with walk up ] drill targets, adjacent to Lord Byron and Fish historical gold mines

Melita (Au, Cu-Pb-Zn)

• [Between Kookynie and Leonora in the heart of the Goldfields, adjacent to ] Genesis Minerals (ASX:GMD) Ulysses Project (1.61Moz @ 1.8g/t Au)

==> picture [52 x 51] intentionally omitted <==

5

Western Mines Group AGM Presentation, November 2021

ASX:WMG

FIRST 6 MONTHS

==> picture [270 x 117] intentionally omitted <==

==> picture [1674 x 84] intentionally omitted <==

----- Start of picture text -----

May June July August September October
----- End of picture text -----

==> picture [256 x 150] intentionally omitted <==

----- Start of picture text -----

Lodged IPO
Prospectus
----- End of picture text -----

==> picture [256 x 284] intentionally omitted <==

----- Start of picture text -----

IPO Offer
Rock of Ages site visit
Melita site visit
Mulga Tank gravity
survey
----- End of picture text -----

==> picture [256 x 284] intentionally omitted <==

----- Start of picture text -----

ASX Listing
Melita soil sampling
Jasper Hill pegging
Jasper Hill tenement
grant
----- End of picture text -----

==> picture [256 x 284] intentionally omitted <==

----- Start of picture text -----

Melita soil sampling
Melita ground mag
Rock of Ages RC drilling
Mulga Tank gravity
results
----- End of picture text -----

==> picture [256 x 284] intentionally omitted <==

----- Start of picture text -----

Rock of Ages RC drilling
Melita soil sampling
Melita ground mag
Mulga Tank MLEM
planning
----- End of picture text -----

==> picture [256 x 362] intentionally omitted <==

----- Start of picture text -----

Mulga Tank MLEM
Rock of Ages drill
results
Jasper Hill acquisition
Mulga Tank 3D
gravity inversion
Melita ground mag
----- End of picture text -----

Mulga Tank (Ni-Cu-PGE): Completing series of ground geophysical surveys to define Ni-Cu-PGE drill targets Jasper Hill (Au): Successfully expanded the project area, consolidating exciting untested mineralised gold trend Melita (Au, Cu-Pb-Zn): Completing major field programs generating targets across a large tenement area in the “hot” Leonora-Kookynie region Rock of Ages (Au): Completed the Company’s first drill program within 7 weeks of listing, intersecting high-grade gold mineralisation

==> picture [52 x 51] intentionally omitted <==

6

Western Mines Group AGM Presentation, November 2021

ASX:WMG

ALL SET FOR 2022

==> picture [270 x 117] intentionally omitted <==

Ongoing high-impact exploration program over next 6 to 12 months…

==> picture [1161 x 813] intentionally omitted <==

----- Start of picture text -----

Complete MLEM survey
Define initial drill targets
Mulga Tank
Diamond drill program
DHEM and follow up drilling
Ground magnetic survey
Jasper Hill Heritage survey
Initial AC drilling of walk up drill targets
Completion of field exploration
Melita
Target generation
Initial AC drilling of targets
Assay 1m samples
Rock of Ages
Define and execute follow up RC drilling
Site visit to Ni-Cu-PGE gossans
Grant of tenement E77/2746
Pavarotti
Ground EM survey
Initial drill program
Ground magnetic survey
Youanmi
Target generation
Initial AC drilling of targets
Western Mines Group AGM Presentation, November 2021
----- End of picture text -----

Methodical testing of potential major Ni-Cu-PGE system

Quickly moving towards drilling primary gold project

Moving to target generation and first drilling

Follow up high-grade gold intersections

Increasing company NiCu-PGE focus with prospective new tenement

Target generation for high-grade gold

7

ASX:WMG

MULGA TANK (Ni-Cu-PGE, Au)

• [Under-explored Minigwal Greenstone Belt ]

• [WMG holds the key - entire Mulga Tank Dunite Intrusive ]

• [Northern part of belt held by Duketon Mining (ASX:DKM) ]

• [Mulga Tank Dunite covers approximately 29km][2][ - similar area to Kambalda Dome ] (35Mt @ 3.1% Ni) - WMG 100%

• [Highly prospective for Ni-Cu-PGE massive sulphide mineralisation ]

• [Only 11 historical holes deeper than 200m - nearly all show Ni-Cu-PGE sulphides ]

• [Rest of belt prospective for shear hosted Au mineralisation ]

• [Unlock with modern techniques and fundamental geology]

“These preliminary drilling results suggest considerable scope exists for the discovery of large accumulations of disseminated magmatic nickel-copper-PGE sulphide mineralisation within the Mulga Tank intrusion and potentially massive nickel sulphide mineralisation associated with basal zones similar in style to the significant nickel deposits currently being mined along the Agnew-Wiluna greenstone belt at the Leinster and Mt Keith nickel camps.”

WMG Prospectus, Independent Technical Assessment Report, Snowden, April 2021

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

----- Start of picture text -----

To Tropicana
To Kalgoorlie
----- End of picture text -----

==> picture [52 x 51] intentionally omitted <==

8

Western Mines Group AGM Presentation, November 2021

ASX:WMG

MULGA TANK (Ni-Cu-PGE, Au)

• [Ground geophysical surveys to “unlock” this major Ni-Cu-PGE project ]

• [Recently completed high-resolution ground gravity survey giving complete 200m ]

• x 200m coverage over ~46km[2]

• [High-powered, high-resolution MLEM survey commenced October - 3x the ]

• power and 2x the resolution of historical surveys

• [Survey will cover entire ultramafic intrusion 28km][2][ - exploring for ]

• electromagnetic bedrock conductors associated with deposits of massive NiCu-PGE sulphides

• [Major focus for WMG in 2022]

Rapidly advancing the project to drilling as soon as possible in 2022

==> picture [270 x 117] intentionally omitted <==

==> picture [469 x 468] intentionally omitted <==

==> picture [469 x 469] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

9

Western Mines Group AGM Presentation, November 2021

ASX:WMG

JASPER HILL (Au)

Walk up drill targets along 3km mineralised trend…

• [Under-explored Merolia Greenstone Belt 90km southeast of Laverton ]

• [Shallow cover and area held by private operators has hindered exploration ]

• [Historical Lord Byron and Fish Gold Mines - trucked to Granny Smith (80km) ]

• [Lord Byron][ - ] [160koz @ 1.0g/t Au][ - NW shearing cutting BIF-mafic volcanics ]

• [Fish][ - ] [87koz @ 4.1g/t Au][ - folding and thickening of BIF in mafic volcanics ]

• [Recently pegged P39/6267 and acquired E39/2073 to consolidate 3km ] mineralised trend

• [Numerous robust historical drilling results from the 1980’s including: ]

• AJ10 14m at 1.58g/t Au from 14m inc. 2m at 8.10g/t Au from 16m PDH02 13m at 1.44g/t Au from 15m inc. 5m at 3.11g/t Au from 15m PDH03 18m at 1.28g/t Au from 14m inc. 4m at 3.35g/t Au from 14m PDH07 4m at 3.40g/t Au from 12m inc. 1m at 9.80g/t Au from 14m

• [Shallow, single hole results with no follow up for +30 years]

Rapidly advancing the project to drilling

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

10

Western Mines Group AGM Presentation, November 2021

ASX:WMG

MELITA (Au, Cu-Pb-Zn)

• [Norseman-Wiluna Greenstone Belt 20km from Leonora - ]

• [Active area with recent IPO’s of Mt Malcom Mines (ASX:M1M) and Iris Metals ]

• (ASX:IR1)

• [Neighbouring Genesis Minerals (ASX:GMD) Ulysses Gold Project 1.61Moz @ ]

• 1.8g/t Au

• [Historic exploration for Cu-Pb-Zn VMS - felsic volcanics with Cu-Zn gossans - ] rock chips up to 3.3% Cu and 7.7% Zn

• [Recent exploration gold focused but no systematic work ]

• [Numerous historical high-grade gold workings throughout tenement including ]

• Princess Melita 15.7g/t Au

• initial Au and Cu-Pb-Zn drill targets

Under-explored potential of 105km[2] tenement area

==> picture [270 x 117] intentionally omitted <==

==> picture [608 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

11

Western Mines Group AGM Presentation, November 2021

ASX:WMG

MELITA (Au, Cu-Pb-Zn)

==> picture [829 x 829] intentionally omitted <==

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

12

Western Mines Group AGM Presentation, November 2021

ASX:WMG

ROCK OF AGES (Au)

Maiden drilling program intersected high-grade gold…

• [Laverton Greenstone Belt - 4.5km south of Burtville Mining Centre (ASX:FML) ]

• [Extensive ] [historical mine workings over 600m strike]

• [Historical production 2,074oz @ 50g/t Au][ (1902-1911) ]

• [Maiden drilling program completed in September - 5 holes totalling 654m ]

• [Significant intersections include: ] [RARC005 4m at 5.08g/t Au][ from 90m inc. ] [2m ] at 9.18g/t Au from 90m and RARC006 4m at 2.71g/t Au from 84m and 2m at 1.03g/t Au from 58m

• [Every hole in this trial program intersected anomalous gold ]

• [Significant depth of weathering - better results in fresh rock ]

• [Initial results from 2m composite samples - collecting and analysing 1m ] samples

Planning to follow up these exciting initial results

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

13

Western Mines Group AGM Presentation, November 2021

ASX:WMG

PAVAROTTI (Ni-Cu-PGE)

Numerous under-explored Ni-Cu-PGE gossans…

• [Ultramafic sequence at base of Koolyanobbing Greenstone Belt ]

• [Historically explored by BHP and WSA ]

• [7.5km strike of target horizon across 2 tenements ]

• [Pavarotti and Jock’s Fury Ni-Cu-PGE gossans][ within WMG tenement ]

• E77/2746

• [Historical BHP hole H2 ] [4.6m @ 1.3% Ni EOH with no follow up]

High-priority Ni-Cu-PGE focus once tenement E77/2746 granted

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

14

Western Mines Group AGM Presentation, November 2021

ASX:WMG

==> picture [369 x 160] intentionally omitted <==

• WESTERN MINES GROUP

==> picture [511 x 692] intentionally omitted <==

----- Start of picture text -----

@westernmines
westernmines
Western Mines Group
ASX: WMG
www.westernmines.com.au
----- End of picture text -----

YOUANMI (Au)

Looking for high-grade gold along Youanmi Shear…

• [Two tenements on the Youanmi Shear, ] [within 7km of Youanmi Gold Mine]

• [Targeting high-grade gold under shallow cover ]

• [Recent ] [Grace (ASX:RXL)][ and ] [Penny North (ASX:RMS)][ discoveries have ]

• reenergised the region - new thinking

• [Regional consolidation with Ramelius Resources (ASX:RMS) ] [>$200m ]

• takeover of Spectrum Metals (ASX:SPX)

• [Deep Well - historical shallow RAB gold-in-saprolite anomaly over 1.5km strike ]

• [Ground magnetic survey - litho-structural interpretation - AC drilling]

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

16

Western Mines Group AGM Presentation, November 2021

ASX:WMG

BROKEN HILL BORE (Au)

Extension of high-grade workings …

• [Historical Broken Hill workings exercised from tenement (P31/2131) ]

• [Recorded production 291.5oz @ 26g/t Au (1902-04) ]

• [Mineralisation associated with quartz veining and brecciated chert/BIF ]

• [Extension of workings untested within WMG tenement]

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

17

Western Mines Group AGM Presentation, November 2021

ASX:WMG

PINYALLING (Au)

• [Located between Paynes Find and Pinyalling Mining Centres ]

• [Large tenement covering conceptual extension of Warriedar Fold Belt and ] Yalgoo-Singleton Greenstone Belt

• [Very little historical exploration ]

• [Greenfield exploration opportunity]

==> picture [270 x 117] intentionally omitted <==

==> picture [829 x 829] intentionally omitted <==

==> picture [52 x 51] intentionally omitted <==

18

Western Mines Group Presentation, July 2021

ASX:WMG

CONTACT

==> picture [270 x 117] intentionally omitted <==

For further information please contact:

Dr Caedmon Marriott

Managing Director

Western Mines Group Ltd

Email: contact@westernmines.com.au Tel: +61 475 116 798

Follow us at:

@westernmines westernmines Western Mines Group

This announcement has been authorised for release to the ASX by the Board of Western Mines Group Ltd

Refer to Western Mines Group Ltd ASX Announcements for relevant disclosures, no material changes to previously disclosed information

ASX: WMG

www.westernmines.com.au

==> picture [52 x 51] intentionally omitted <==

19

Western Mines Group Presentation, July 2021

ASX:WMG