WESTERN MINES GROUP LTD

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ASX RELEASE
26 JULY 2022
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DISSEMINATED SULPHIDES SEEN OVER >300M IN HOLE MTD020

HIGHLIGHTS

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Three further diamond drill holes completed at the Mulga Tank Ni-Cu-PGE Project
Disseminated magmatic sulphides observed over >300m in hole MTD020 - clear indication of a large scale working mineral system at Mulga Tank
Potential for Mt Keith-style (Type 2) disseminate sulphide as well as Perseverance-style (Type 1) basal massive sulphide deposits
a wide area and range of exploration targets - highlighting the prospectivity of the project
Samples from all holes up to MTD020 have been delivered to the lab for geochemical assay with first results expected from end of July through August
Diamond drilling program remains ongoing with the rig currently drilling hole MTD021
DHEM survey to be undertaken on completed holes looking for off hole follow-up targets

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Western Mines Group Ltd (WMG or Company) (ASX:WMG) is pleased to update shareholders on the completion of three further diamond drill holes at the flagship Mulga Tank Ni-Cu-PGE Project, on the Minigwal Greenstone Belt, in Western Australia’s Eastern Goldfields.

Holes MTD018 and MTD020 were designed to follow-up on historical drilling results at the project, whereas hole MTD019 was drilled to test a discrete EM target on the southern margin of the Mulga Tank intrusion.

disseminated magmatic sulphides (trace to 2%) that coalesced into interstitial blebs towards the base of the unit (3 to 5% sulphide). This is the clearest indication to date of a magmatic sulphide mineral system at Mulga Tank and the potential for a large scale Type 2 Mt Keith-style disseminated sulphide deposit and/or a Type 1 Perseverance-style basal massive sulphide deposit where sulphides may accumulate on the basal contact.

Commenting on the Mulga Tank Project, WMG Managing Director Caedmon Marriott said:

“Hole MTD020 was drilled more towards the centre of the Mulga Tank body and was designed to test beneath historical hole MTD011, which showed numerous intersections of Ni-Cu-PGE mineralisation. Visible disseminated sulphides were seen throughout a thick high MgO dunite unit; this is very exciting and offers great encouragement for the prospectivity of this large ultramafic body to host both Mt Keith-style or Perseverance-style nickel sulphide deposits.”

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Shares on Issue: 44.65m Share Price: $0.165 Market Cap: $7.37m Cash: $4.2m (31/03/22)

Telephone: +61 475 116 798 Email: [email protected]

Level 3, 33 Ord Street West Perth WA 6005

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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MULGA TANK DIAMOND DRILLING PROGRAM

WMG is undertaking an initial ten-hole diamond drilling program, totalling 4,050m, at the Mulga Tank Ni-Cu-PGE Project. The program aims to test numerous drill targets designed from the Company’s geological targeting work ( ASX, Major EM Targets Identified at Mulga Tank Ni-Cu-PGE Project, 7 March 2022; Mulga Tank Ni-CuPGE Project: Major Targets Drill Ready, 6 April 2022 ).

HOLE MTD018

The seventh hole of the program MTD018 (planned hole MTP019) was drilled to a total depth of 501.2m and was designed to test the western margin and basal contact at depth beneath historical hole MTD003 - hole MTD003 showed indications of nickel sulphide mineralisation returning 1m at 1.00% Ni and 0.5g/t PGE from 209m. Hole MTD018 intersected 330.6m of variably altered mesocumulate dunite (from 68.5-399.1m), beneath 68.5m of sand cover (0-68.5m), before encountering a footwall of predominantly cherts and some interbedded black shales (399.1-501.2m) at 399.1m depth.

One occurrence of visible nickel sulphide mineralisation was observed down the hole, with a remobilised nickel sulphide vein (pentlandite-pyrrhotite) seen at 159.9m depth - with sulphide identification confirmed by spot pXRF readings. Hole MTD018 was cased and will be tested with a planned Downhole Electromagnetic (DHEM) survey.

HOLE MTD019

The eighth hole of the program MTD019 (planned hole MTP018) was drilled to a total depth of 264.6m and was designed to test a discrete EM anomaly situated on the southern margin of the ultramafic body. The hole intersected 75m of variably altered and silicified orthocumulate and mesocumulate dunite ultramafic (from 84.6-159.6.m), beneath 84.6m of sand and Permian mudstone and conglomerate cover (0-84.6m), before encountering a footwall of basalt, shales and chert (159.6-264.6m) at 159.6m depth.

No visible nickel mineralisation was observed down the hole. Due to a number of drilling challenges in broken ground the hole was not able to be cased for downhole EM. Nothing observed down the hole was able to conclusively explain the discrete EM anomaly in this area but it is most likely caused by a sulphidic black shale unit in the footwall.

HOLE MTD020

The ninth hole of the program MTD020 (planned hole MTP020) was drilled to a total depth of 564.4m and was designed to test beneath historical hole MTD011 - hole MTD011 showed multiple indications of nickel sulphide mineralisation including of 1m at 1.95% Ni and 0.21g/t Pt+Pd from 103m, 1m at 0.83% Ni and 0.18g/t Pt+Pd from 114m and 0.5m at 1.18% Ni and 0.1g/t Pt+Pd from 211.7m. Hole MTD020 intersected 453.3m of variably altered ortho-mesocumulate dunite (from 65.7-519m), beneath 65.7m of sand cover (0-65.7m), before encountering a footwall of predominantly basalt at 519m depth.

Two styles of visible nickel mineralisation were observed down the hole including remobilised nickel sulphide veins (pentlandite-pyrrhotite) and disseminated magmatic sulphides (pyrite-pyrrhotite-pentlandite). Disseminated sulphides (trace to 5% sulphide) occurred over in excess of 300m from 120 to 512m. Towards the base of dunite unit these disseminated sulphides coalesced into interstitial blebs (3-5% sulphide) between the olivine grains of the meso-adcumulate dunite.

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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clearest indication to date of a working magmatic sulphide mineral system, though it is cautioned that geochemical assaying of the hole has not yet been undertaken. The observations suggest the potential for both large scale Type 2 Mt Keith-style disseminated sulphide deposits and/or a Type 1 Perseverance-style basal massive sulphide deposits, where sulphides may accumulate on the basal contact, possibly deeper within the intrusion ( deposit types after Lesher and Keays, 2002 ).

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MTD020
NQ2 Core
2” Diameter
(Ni, Fe)9S8
Spot XRF Readings: 37.5% Nickel 1.7% Copper
Depth: 370.8m
Remobilised Nickel Sulphides (pentlandite-pyrrhotite-chalcopyrite)
within Talc-Carbonate Altered Dunite
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Figure 1: Photo showing examples of visible sulphides in hole MTD020 Note: core is NQ2 being 2 inches or 50mm diameter

Komatiite-associated Ni-Cu-PGE Deposits: Geology, Mineralogy, Geochemistry and Genesis; Lesher and Keays, 2002

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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Figures 2A and 2B: Photo showing examples of visible sulphides in hole MTD020 with disseminated sulphide forming interstitial blebs between olivine grains Note: core is NQ2 being 2 inches or 50mm diameter

DOWN HOLE pXRF

and geochemical vectoring approach during the drilling program. Spot pXRF readings for holes MTD018, MTD019 and MTD020 were taken at 50cm intervals down the core.

magmatic mineral processes and lithogeochemical vectors to aid further exploration and drill targeting. Processed pXRF data is presented for hole MTD020 below.

Cautionary statement on pXRF

pXRF data is used as an exploration tool and a guide only and should never be considered a proxy or substitute for laboratory analysis. The measurements recorded are for a single spot location and may not be representative of the whole rock. Only subsequent laboratory geochemical assay can be used to determine the widths and grade of mineralisation. WMG will update shareholders when laboratory results become available.

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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Figure 3: Processed pXRF data for hole MTD020

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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The mean average Ni value across all the 1131 readings for the hole was 0.26% Ni, the mean average for 1028 readings of the logged ultramafic portion of the hole was 0.29% Ni, with individual spot values of up to 37.5% Ni where sulphide mineralisation was observed.

in the drilling program, these correlated well with observed sulphide abundance. Three possible broad dunite units can be seen down the hole, all showing suitably high MgO content.

NEXT HOLE

The rig has now moved to the northwest and has commenced drilling at planned hole MTP021. This hole targets the up-dip component of the high conductance NW3 Conductor EM anomaly within the Panhandle area of the project.

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Figure 4: Mulga Tank MLEM late channel CH40BZ image showing EM plates

and WMG’s planned drill holes

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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Core selected for sampling for all holes up to MTD020 has been delivered to ALS in Perth for geochemical assay. The Company will update shareholders on the assay results as they become available.

The Company looks forward to updating shareholders on the continuing progress as this exciting drilling program develops.

For further information please contact: Dr Caedmon Marriott Managing Director Tel: +61 475 116 798 Email: [email protected]

This announcement has been authorised for release to the ASX by Dr Caedmon Marriott, Managing Director

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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HoleID	From (m)	To (m)	Primary Lithology	Alteration	Comments
MTD020	0.0	65.7	Sand cover		Rock-rolled sands
MTD020	65.7	101.2	Mesocumulate dunite	tc, cl	Bright green olivine-peridotite, mesocumulate texture with remobilised sulphides (Fe) in veinlets, some with Ni
MTD020	101.2	116.35	Dunite	tc, cl	Diffculty determining texture in darker matrix
MTD020	116.35	117.2	Fault Zone	tc, cb
MTD020	117.2	130	Dunite	si, cl	Disseminated Py and Po in intercumulus around crystal faces
MTD020	130	149	Dunite	si
MTD020	149	155	Dunite	si
MTD020	155	162	Dunite	si, cl	Disseminated to blebby sulphides in silica-chlorite altered dunite +NiS Pn bearing veinlet
MTD020	162	278	Dunite	si, tc, cl	Broad zone of dunite with trace sulphides and multiple Ni-S veinlet intercepts
MTD020	278	285	Dunite	si, tc, cl
MTD020	285	291	Dunite	si
MTD020	291	360	Orthocumulate dunite	si, cl	Dark, weakly altered orthocumulate dunite, zones of varying sulphide abundance
MTD020	360	375	Mesocumulate dunite	si	Strongly disseminated Py and Po, up to 5% abundance in dark mesocumulate textured dunite + 250mm Ni-S Pn vein
MTD020	375	481	Mesocumulate dunite	si, cl
MTD020	481	501	Mesocumulate dunite	si	Diffculty determining sulphide abundance in bright green olivine- peridotite
MTD020	501	519	Mesocumulate dunite	si, tc, cl
MTD020	518	564	Basalt		Basalt footwall

Table 1: Logging table summary for hole MTD020

HoleID	From (m)	To (m)	Interval (m)	Lithology	Sulphide Texture	Sulphide Abundance (%)	Sulphides Observed
MTD020	120.8	122	1.2	Dunite	Disseminated	tr-1%	Pyrite-Pyrrhotite
MTD020	123.6	124	0.4	Dunite	Disseminated	tr-2%	Pyrite-Pyrrhotite
MTD020	130	155	25	Dunite	Disseminated	tr-1%	Pyrite-Pyrrhotite
MTD020	155	162	7	Dunite	Disseminated	2-3%	Pyrite-Pyrrhotite-Pentlandite
MTD020	162	270	108	Dunite	Disseminated	tr-1%	Pyrite-Pyrrhotite-Pentlandite
MTD020	278	285	7	Dunite	Disseminated	2%	Pyrite-Pyrrhotite
MTD020	288	291	3	Dunite	Disseminated	3-5%	Pyrite-Pyrrhotite
MTD020	291	338	47	Orthocumulate dunite	Disseminated	tr-1%	Pyrite-Pyrrhotite
MTD020	338	349	11	Orthocumulate dunite	Disseminated	tr-2%	Pyrite-Pyrrhotite
MTD020	349	351	2	Orthocumulate dunite	Disseminated	1-3%	Pyrite-Pyrrhotite
MTD020	351	360	9	Orthocumulate dunite	Disseminated	1-2%	Pyrite-Pyrrhotite
MTD020	365	369	4	Mesocumulate dunite	Disseminated	2-5%	Pyrite-Pyrrhotite-Pentlandite
MTD020	371	373	2	Mesocumulate dunite	Disseminated	2-5%	Pyrite-Pyrrhotite-Pentlandite
MTD020	373	450	77	Mesocumulate dunite	Disseminated	tr-1%	Pyrite-Pyrrhotite
MTD020	450	465	15	Mesocumulate dunite	Disseminated	tr-2%	Pyrite-Pyrrhotite
MTD020	465	473	8	Mesocumulate dunite	Disseminated	tr-1%	Pyrite-Pyrrhotite
MTD020	473	481	8	Mesocumulate dunite	Disseminated	tr-2%	Pyrite-Pyrrhotite
MTD020	501	509	8	Mesocumulate dunite	Disseminated	1-2%	Pyrite-Pyrrhotite
MTD020	509	512	3	Mesocumulate dunite	Blebby	3-5%	Pyrite-Pyrrhotite-Pentlandite

Table 2: Visual sulphide table for hole MTD020

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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HoleID	Spot Depth (m)	Ni (%) (XRF spot reading)	Cu (%) (XRF spot reading)
MTD020	217.6	19.32%	0.75%
MTD020	262.45	9.37%	0.51%
MTD020	370.8	37.47%	1.72%

HoleID	Easting (MGA51)	Northing (MGA51)	Total Depth (m)	Azimuth	Dip
MTD020	521493	6688363	564.4	225	-60

Table 4: Collar details for hole MTD020

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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ABOUT WMG

Western Mines Group Ltd ACN 640 738 834 Level 3, 33 Ord Street West Perth WA 6005

Board

Rex Turkington Non-Executive Chairman

Dr Caedmon Marriott Managing Director

Francesco Cannavo Non-Executive Director

Paul Burton Non-Executive Director

Capital Structure

Shares: 44.65m Options: 22.85m Share Price: $0.165 Market Cap: $7.37m Cash (31/03/22): $4.2m

@westernmines westernmines Western Mines Group

Western Mines Group Ltd (ASX:WMG) is a mineral exploration company driven by the goal to create significant investment returns for our shareholders through exploration and discovery of high-value gold and nickel sulphide deposits across a portfolio of highlyprospective projects located on major mineral belts of Western Australia.

major dunite intrusive found on the under-explored Minigwal Greenstone Belt. Previous work shows significant evidence for a working sulphide mineral system and is considered highly prospective for Ni-Cu-PGE mineralisation.

The Company’s primary gold project is Jasper Hill, where WMG has strategically consolidated a 3km mineralised gold trend with walk-up drill targets. WMG has a diversified portfolio of other projects including Melita (Au, Cu-Pb-Zn), midway between Kookynie and Leonora in the heart of the WA Goldfields; Youanmi (Au), Pavarotti (Ni-Cu-PGE), Rock of Ages (Au), Broken Hill Bore (Au) and Pinyalling (Au, Cu, Li).

COMPETENT PERSONS STATEMENT

The information in this announcement that relates to Exploration Results and other technical information complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Dr Caedmon Marriott, Managing Director of Western Mines Group Ltd. Caedmon is a Member of the Australian Institute of Geoscientists and a Member of the Australasian Institute of Mining and Metallurgy. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Caedmon consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

DISCLAIMER

Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which WMG operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside WMG’s control.

WMG does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of WMG, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement.

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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MULGA TANK PROJECT

JORC CODE, 2012 EDITION - TABLE 1 SECTION 1: SAMPLING TECHNIQUES AND DATA

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specifc 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 fre 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.	• Diamond core drilling was completed using standard industry best practice • Sampling of NQ2 diamond core has not yet been undertaken • Ground Moving Loop Electromagnetic (MLEM) survey being conducted by GEM Geophysics Pty Ltd an independent geophysical contractor • MLEM B-feld confguration/parameters: Confguration:Slingram and Inloop Receiver:SMARTem24 Sensor:JESSY DEEP HT SQUID B-feld (3D) Polarity:Z+Up, X+ East and Y+ North Transmitter:TTX2 - 100A/250V Loop Size:200m x 200m (single turn) Current:85A Line Spacing:200-400m Station Spacing:100m Base Frequency:0.25Hz Stacking:64-72stacks Readings:2-3 readings per station • MLEM surveys are an industry standard practise in testing the presence of bedrock conductors potentially representing mineralised sulphide bodies • Portable XRF data collected at 50cm sample point spacing downhole, with a 10 second beam time using 2 beams • Model of XRF instrument was Olympus Vanta M Series
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).	• Diamond drilling comprised HQ and NQ2 core • The core was orientated using a downhole orientation tool at the end of every run
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 fne/ coarse material.	• Diamond core recoveries were logged and recorded in the database. Overall recoveries were reported at >95% with no core loss issues or signifcant sample recovery problems • Diamond core was reconstructed into continuous runs on an angle iron cradle for orientation marking. Depths were checked against the depth given on the core blocks and rod counts were routinely carried out by the drillers • No sampling has yet been undertaken but no sampling bias is anticipated

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Criteria	JORC Code explanation	Commentary
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.	• Information on structure type, dip, dip direction, alpha angle, beta angle, texture, shape and fll material were collected and stored in the database • Logging of diamond core recorded lithology, mineralogy, mineralisation, structural, weathering, colour, and other features of the samples. Core was photographed in both dry and wet form • Drillhole was logged in full, apart from rock roller diamond hole pre-collar intervals
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffed, 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 feld duplicate/ second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• Core has not yet been cut and sampled for geochemical assay
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. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	• Laboratory geochemical assay has not yet been undertaken • Ground MLEM survey being undertaken by GEM Geophysics using equipment described above • Daily production reports reviewed and QA/QC of the data is completed by the Company's consultant geophysicist • XRF instrument used was Olympus Vanta M- Series • XRF used a 10 beam time, with 2 beams, using standard calibration procedures
Verifcation of sampling and assaying	• The verifcation of signifcant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verifcation, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Signifcant XRF readings reported were verifed by multiple alternative company personnel onsite • Primary logging data was collected using Ocris logging system on a laptop computer, XRF and magsus data was download into Excel spreadsheets, all was compiled into a SQL database server • No adjustments were made to individual spot XRF data reported • Some smoothing and moving averaging techniques were used when plotting Ni:Cr ratios in graphical format
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. • Specifcation of the grid system used. • Quality and adequacy of topographic control.	• Drill holes located using a handheld GPS with accuracy of +/-3m, downhole surveys used continuous gyro readings at 5m intervals • Coordinates are in GDA94 UTM Zone 51 • MLEM stations located using a handheld GPS with accuracy of +/-3m

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Criteria	JORC Code explanation	Commentary
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is suffcient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifcations applied. • Whether sample compositing has been applied.	• The drilling completed was reconnaissance in nature designed to test specifc geochemical and geophysical targets • The drilling completed was reconnaissance in nature for frst pass exploration purposes only • Spacing between MLEM survey lines was 200-400m, with instrument station realigns taken 100m along survey lines
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 have introduced a sampling bias, this should be assessed and reported if material.	• The drilling was planned to be approximately perpendicular to the interpreted stratigraphy and footwall contact • The MLEM survey line direction in the southern sector was orientated north-south, broadly perpendicular to known strike direction of geological formations and conductor strike
Sample security	• The measures taken to ensure sample security.	• All data acquired by GEM was reported to the Company’s consultant geophysicist
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• No audits or reviews of drilling sampling techniques or data • MLEM data was independently verifed by the Company’s consultant geophysicist Russell Mortimer of Southern Geoscience Consultants

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.	• Tenement E39/2132, tenement applications E39/2223 and E39/2299 • Held 100% by Western Mines Group Ltd • 1% NSR to original tenement holder • Native Title Claim by Upurli Upurli Nguratja not yet determined • No known historical or environmentally sensitive areas within the tenement area • Tenement is in good standing
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Previous exploration over the Mulga Tank project area by various companies dates back to the 1980s • Of these, more detailed exploration was completed by BHP Minerals Pty Ltd (1982– 1984), MPI Gold Pty Ltd (1995–1999), North Limited (1999–2000), King Eagle Resources Pty Ltd (2004–2012), and Impact (2013–2018)

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Criteria	JORC Code explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation.	• The geology of the project area is dominated by the irregular shaped Mulga Tank serpentinised metadunite intrusive body measuring ~5km x 5km, hosted within metasediments, mafc to felsic schists and foliated metagranite of the northwest trending Archean Minigwal Greenstone Belt • Previous drilling intersected disseminated and narrow zones of massive nickel-copper sulphide mineralisation within the dunite intrusion • The intrusion is concealed under variable thicknesses of cover (reported up to 70 m in places) with the interpretation of the bedrock geology based largely on aeromagnetic data and limited drilling
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 holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth hole length. • If the exclusion of this information is justifed 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.	• A listing of the drill hole information material to the understanding of the exploration results provided in the body of this announcement • The use of any data is recommended for indicative purposes only in terms of potential Ni-Cu-PGE mineralisation and for developing exploration targets
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 metal equivalent values have been quoted • XRF data for Ni:Cr shown in Figure 2 was processed and smoothed using a moving average
Relationship between mineralisation 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’).	• The drillhole was oriented to intersect the dip of an electromagnetic conductor as interpreted by WMG’s consultant, Southern Geoscience, and perpendicular to the mineralisation or stratigraphy • The relationship of the downhole length to the true width is not known
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any signifcant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• Appropriate maps, photos and tabulations are presented in the body of the announcement

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ASX RELEASE | DISSEMINATED SULPHIDES >300M IN HOLE MTD020

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Criteria	JORC Code explanation	Commentary
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 practiced to avoid misleading reporting of Exploration Results.	• A complete XRF dataset for the drill hole is shown in Figure 3 • XRF readings are a single spot reading and should only be taken as a guide that nickel sulphide mineralising processes are being observed, likely within sulphide veins within the core
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.	• Not applicable
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.	• Future exploration planned includes further drill testing of targets identifed • Exploration is at an early stage and future drilling areas will depend on interpretation of results

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WESTERN MINES GROUP LTD Capital/Financing Update 2022

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DISSEMINATED SULPHIDES SEEN OVER >300M IN HOLE MTD020

HIGHLIGHTS

Commenting on the Mulga Tank Project, WMG Managing Director Caedmon Marriott said: