WESTGOLD GIVES GO AHEAD FOR REPOPENING OF GREAT FINGALL GOLD MINE AT CUE IN WA

Westgold Resources Board has approved the development of the Great Fingall Gold Mine located at Cue in the Murchison region of WA. Great Fingall Mine is one of four + One Million Ounce historical Gold producing mines in the Westgold portfolio. development is expected to commence in the second quarter of 2024.

In June the Great Fingall Mine resource was increased to 500,000 ounces of Gold which was a 49% increased in the previous resource estimations.

The Base Case Study to commence operations, was based on a current total resource of 2.5m tonnes at 5g/t Gold. Production is estimated at 45,000 ounces per year at an all-in sustaining cost of $1801 per ounce over an 8year period. Estimated average capital expenditure of $30,000,000.

Production is expected to commence in the first quarter of 2024.

Great Fingall Mine produced 1,550,000 ounces of Gold during its life between 1891 and 1929 at an average grade of 19.5g/t Gold from 20 levels of underground evelopmemt to a depth of 785 vertical metres.

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Goldman

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