WESTGOLD ANNOUNCES MAIDEN SOUTH JUNCTION ORE RESERVE

Bluebird-South Junction Targets 1.2Mtpa Production Rate by Q3 FY25

Westgold Resources Limited (ASX: WGX, TSX: WGX, OTCQX: WGXR) has announced the maiden Ore Reserve for its South Junction mine. The South Junction site is a key part of the broader Bluebird-South Junction mining complex, which is expected to become the primary ore source for the Bluebird processing hub at Meekatharra. The site is targeting a run rate of 1.2Mtpa by Q3 FY25.

Highlights:

Bluebird-South Junction Ore Reserve increases to 3.0Mt @ 2.8g/t Au for 277koz
- 233% increase (+158koz) from the FY23 Ore Reserve post-depletion.
- Contribution from the maiden South Junction Ore Reserve of 2.6Mt @ 2.7g/t Au for 225koz.
Updated Bluebird-South Junction Mineral Resource exceeds Interim Mineral Resource
- 61% increase in Indicated Resources.
- Ore Reserve underpinned by an updated Mineral Resource Estimate (MRE) of 11Mt @ 2.8g/t Au for 960koz, including a Measured and Indicated component of 4.7Mt @ 3.1g/t Au for 465koz.
Further Resource Conversion Targeted with Ongoing Drilling Program
- 2 surface rigs and 2 underground drill rigs continue to extend and infill the Bluebird-South Junction Mineral Resource.
- South Junction remains open at depth and to the south along strike/down plunge.
Production from South Junction to Commence in August
- The significant width of the South Junction orebody enables a highly productive transverse stoping method, significantly increasing production from the Bluebird-South Junction system.
- Production rate of 1.2Mtpa targeted from Q3 FY25.

Westgold Managing Director and CEO Wayne Bramwell commented:

Westgold is rapidly building a mine of significant scale and life at Meekatharra. The maiden Ore Reserve for South Junction and the rapid expansion of the Bluebird-South Junction mining complex to a 1.2Mtpa run rate by Q3, FY25 has been a remarkable success story and underpins the value in drilling.

A larger, more productive Bluebird-South Junction underground mine is a game changer for our Murchison business. It will reduce the requirement and cost of road haulage of ore from Cue (circa 140km) as the Bluebird-South Junction complex is within 2km of the nearby Bluebird mill.

Westgold will continue to invest in drilling across our portfolio in FY25. With Bluebird-South Junction and Big Bell in the Murchison, buttressed by the expanding Beta Hunt in the Goldfields, we continue to build a diversified platform that can produce more consistent and sustainable long-term cashflows and returns to our shareholders.