West African Resources Ltd · ASX:WAF

West African Resources — 121 Cape Town Conference 2019

21 slides from West African Resources's conference presentation, Feb 6, 2019

  1. Slide 1: Sanbrado Gold Project

    For personal use only Sanbrado Gold Project We s t A f r i c a ’s n e x t t i e r 1 g o l d a s s e t 121 Cape Town Conference - Presentation 5 February 2019 Richard Hyde – Founder, Managing Director & CEO

  2. Slide 2: Important Notice

    IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER NI 43-101 QUALIFIED PERSONS AND COMPETENT PERSONS STATEMENT For personal use only This presentation contains “forward-looking information” within the meaning of securities legislation, including information relating to Information in this presentation

  3. Slide 3: Highlights

    SANBRADO GOLD PROJECT HIGHLIGHTS For personal use only High grade Fully funded Low cost, high +200,000oz pa First gold pour margin operation production H2 2020 Conventional Experienced Significant upside mining and management potential processing 3

  4. Slide 4: Experienced Board and Management

    EXPERIENCED BOARD AND MANAGEMENT BOARD OF DIRECTORS For personal use only RICHARD HYDE MARK CONNELLY SIMON STORM IAN KERR Founder, MD & CEO Non-Exec Chairman Non-Exec Director Non-Exec Director +20 years experience in the mining +25 years experience in mining. + 25 years experience in Australian +30

  5. Slide 5: Corporate Overview

    CORPORATE OVERVIEW For personal use only INVESTORS BY TYPE ASX & TSX-V: WAF Total Ordinary Shares on Issue 864.4m VanEck Global 7% Insiders & Options and performance rights on issue 20.9m Management Top 20 Shareholders 55% 3% Retail Cash (31 December 2018) A$66m 33% Market Capitalisation (at A$0.225

  6. Slide 6: For personal use only

    SANBRADO GOLD PROJECT ▪ Located in central Burkina Faso For personal use only ▪ 110km, 1.5 hrs southeast of Ouagadougou ▪ Excellent infrastructure ‒ 20km from sealed highway ‒ Excellent mobile phone coverage ‒ LV grid power on site ‒ 15km from HV grid power ‒ 18km from stable water source ▪ Low popu

  7. Slide 7: Feasibility Study Highlights

    SANBRADO GOLD PROJECT F E A S I B I LT Y S T U D Y H I G H L I G H T S For personal use only KEY PROJECT METRICS ▪ High-grade underground and open-pit operation with 2Mtpa SABC CIL plant ▪ MRE of 2.35Moz Au (Indicated) & 0.55Moz Au (Inferred) ▪ Average 211koz per year for first 5 years ▪ Average 133

  8. Slide 8: M1 South Deposit

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT For personal use only June 2018 MRE ▪ OP 0-120m - 170koz at 6.6 g/t gold (Ind), 10koz at 4.8 g/t gold (Inf) ▪ UG 120-530m - 620koz at 25.5 g/t gold (Ind), 60koz at 7.6 g/t gold (Inf) June 2018 Probable Reserves ▪ OP 0-120m - 156koz at 6.9 g/t gold ▪ UG 120-500m

  9. Slide 9: M1 South Deposit

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT For personal use only +700m and still going strong ▪ Step down drilling confirms mineralisation still wide open. Recent drilling beneath reserves include: – TAN18-DD189: 11m at 11.2 g/t from 654 and 6m at 24.4 g/t Au from 675m – TAN18-DD214A: 0.5m at 520 g/t Au

  10. Slide 10: M5 Deposit

    SANBRADO GOLD PROJECT M5 DEPOSIT For personal use only June 2018 MRE ▪ 37.2Mt at 1.3 g/t Au for 1.5Moz (Ind) ▪ 12.8Mt at 1.1 g/t Au for 0.45Moz (Inf) June 2018 Probable Reserves ▪ 0.8Moz at 1.5 g/t gold (16.4Mt) ▪ Main pit 2km long, up to 400m wide and 200m deep in southwest ▪ Ore from surface ▪ Ove

  11. Slide 11: Ore Mined by Source and Annual Production

    SANBRADO GOLD PROJECT ORE MINED BY SOURCE AND ANNUAL PRODUCTION For personal use only 300,000 ▪ M1 South OP 2 years 250,000 ▪ M5 OP 11 years ▪ M1 South UG 4.5 years ▪ TAN18-DD228: 25m at 15 g/t Au from 862m including 200,000 5.5m at 40.4 g/t Au 220m beneath current reserves Contained Ounces 150,000

  12. Slide 12: Growth of Resource, Reserves and Grade 2014-2018

    SANBRADO GOLD PROJECT GROWTH OF RESOURCE, RESERVES AND GRADE 2014 -2018 For personal use only 2,500 2.50 2.40 2,000 2.00 grams per tonne 1.70 1.70 1,500 1.50 koz Au 1,000 1.20 1.20 1.00 0.90 500 0.50 437 278 736 440 980 440 1,332 894 2,022 894 2,350 1,557 0 0.00 Jul 2014 Feb 2015 Aug 2016 Feb 2017 O

  13. Slide 13: Growth of Resource, Reserves and Grade 2014-2018

    SANBRADO GOLD PROJECT GROWTH OF RESOURCE, RESERVES AND GRADE 2014 -2018 For personal use only 2,500 2.50 2.40 2,000 2.00 grams per tonne 1.70 1.70 1,500 1.50 koz Au 1,000 1.20 1.20 1.00 0.90 500 0.50 437 278 736 440 980 440 1,332 894 2,022 894 2,350 1,557 0 0.00 Jul 2014 Feb 2015 Aug 2016 Feb 2017 O

  14. Slide 14: Construction Progress

    SANBRADO GOLD PROJECT CONSTRUCTION PROGRESS For personal use only 14

  15. Slide 15: Work Programs 2018-

    SANBRADO GOLD PROJECT WO RK PROG RAMS 2018- 19 For personal use only FULLY ▪ US$200 million finance facility secured with Taurus Funds Management Pty Ltd ▪ Fully underwritten institutional Share Placement completed raising A$43.2 million FUNDED ▪ First debt draw down scheduled for end of Q1 2019 ▪ B

  16. Slide 16: Near Term Milestones

    NEAR TERM MILESTONES CURRENT DEVELOPMENT PLAN FOR 2019 AND BEYOND For personal use only 2018 2019 2020 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Further resource / reserve and definition drilling Mining and environmental permits approved ✓ Updated DFS ✓ Award of EPCM and Order Mill Package ✓ Detailed desi

  17. Slide 17: Additional Information

    For personal use only Additional Information 17

  18. Slide 18: Exploration Potential & Upside

    EXPLORATION POTENTIAL & UPSIDE AREAS 1 NEAR MINE EXPLORATION 2 SURROUNDING EXPLORATION For personal use only <5km from Sanbrado <30km from Sanbrado ▪ Continue to chase M1 South below 500m depth, deposit ▪ 10km geochem Moktedu Trend – 28m at 9.2g/t Au from surface ▪ Goudré rock chips +60 g/t Au has m

  19. Slide 19: Regional Development Potential

    SANBRADO PROJECT For personal use only PLACEHOLDER FOR REGIONAL DEVELOPMENT POTENTIAL MAP FROM SHANE ▪ Region hosts 14Moz undeveloped resources ▪ Potential for regional consolidation and infrastructure synergies ▪ Sanbrado has the highest grade of all deposits in the vicinity and is key to unlocking

  20. Slide 20: Mineral Resources and Ore Reserves

    MINERAL RESOURCES AND ORE RESERVES SANBRADO GOLD PROJECT MINERAL RESOURCES | June 2018 For personal use only INDICATED RESOURCES INFERRED RESOURCES Cutoff Deposit Grade Grade (Au g/t) Tonnes Au Oz Tonnes Au Oz (Au g/t) (Au g/t) O/P <120m 0.5 800,000 6.6 170,000 50,000 4.8 10,000 M1 South U/G >120m 3

  21. Slide 21: For personal use only

    West African Resources Ltd – ASX / TSXV: WAF For personal use only www.westafricanresources.com

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