West African Resources Ltd · ASX:WAF
West African Resources — Mining Forum Americas 2026
24 slides from West African Resources's conference presentation, Sep 29, 2026
Slide 1: West Africa's Growing Mid Tier Producer
rsonal use only WEST AFRICA’S GROWING MID TIER PRODUCER TARGETING +500,000 oz pa GOLD PRODUCTION FROM 2027 MINING FORUM AMERICAS – SEPTEMBER 2026
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE DISCLAIMER . The following notice and disclaimer apply to this presentation (Presentation) and you are advised to read this carefully before reading FINANCIAL DATA or making any other use of this Presentation or any information contained in this Presentation. All dollar values in th
Slide 3: Important Notice: Forward Looking Statements and JORC Code
IMPORTANT NOTICE FORWARD LOOKING STATEMENTS continued JORC CODE Forward-looking statements are based on management’s expectations and reflect judgements, assumptions, estimates and other It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australi
Slide 4: West Africa's Growing Mid-Tier Gold Producer
WEST AFRICA’S GROWING MID-TIER GOLD PRODUCER 100% UNHEDGED MINERAL RESOURCES AND ORE RESERVES rsonal use only 2026 Mineral Ore 10 Year Exploration Market Guidance Resources Reserves Production Target Permits Capitalisation 430 - 490 koz 13.7 Moz 7 Moz 5.3 Moz +1,100 km² A$4,119m* 100% Unhedged 82% O
Slide 5: Board and Management
WEST AFRICAN RESOURCES LTD BOARD AND MANAGEMENT rsonal use only Richard Hyde Lyndon Hopkins Rod Leonard Libby Mounsey Stewart Findlay Robin Romero Jayde Webb Founder, CEO and Executive Director and Independent Executive Director of Non-Executive Director Non-Executive Director Non-Executive Director
Slide 6: WAF Project Locations
WAF PROJECT LOCATIONS rsonal use only 6
Slide 7: Setting the Pace for Mid-Tier Producers
WEST AFRICAN RESOURCES LTD SET T I N G T H E PA C E F O R M I D - T IER PR O D U C ER S rsonal use only A$437 million H1 NPAT A$0.20 special dividend per share, payable 7 Oct 2026 Group production guidance: 430,000 - 490,000oz gold Group AISC guidance: under US$1,900/oz gold H1 Production:
Slide 8: Group 10-Year Production Target
WEST AFRICAN RESOURCES LTD G R O U P 1 0 - Y E A R P R O D U C T I O N TA R G E T Mineral Resources increased to 13.7 Moz gold Ore Reserves increased to 7 Moz gold 700,000 Production target: rsonal use only 600,000 ‒ 533,000 oz pa average 2026 – 2035 ‒ 596,000 oz pa peak in 2030 500,000 Recove
Slide 9: Kiaka Gold Production Centre
WEST AFRICAN RESOURCES LTD KIAKA GOLD PRODUCTION CENTRE rsonal use only 9
Slide 10: Kiaka Gold Production Centre: Key Project Metrics
KIAKA GOLD PRODUCTION CENTRE KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 85%; Burkina Faso government 15%* rsonal use only Type Open-pit low strip ratio 1.4 : 1 LOM Resources 391 Mt at 0.7 g/t for 9.2 Moz gold (US$3000) Reserves 177 Mt at 0.8 g/t for 4.7 Moz go
Slide 11: Near Mine Growth: Kiaka Expansion Potential
NEAR MINE GROWTH K I A K A E X PA N S I O N P O T E N T I A L rsonal use only Refer to ASX announcement titled “WAF 10-year gold production to average 533,000 oz per annum” released 31 March 2026. Above results of exploration drilling completed by Volta Resources Inc. are documented in the publicly
Slide 12: Sanbrado Gold Production Centre
WEST AFRICAN RESOURCES LTD SANBRADO GOLD PRODUCTION CENTRE rsonal use only 12
Slide 13: Sanbrado Gold Operations: Key Project Metrics
SANBRADO GOLD OPERATIONS KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 85%; Burkina Faso government 15% rsonal use only Type Open-pit and underground mining Resources 67 Mt at 2.0 g/t for 4.4 Moz gold (US$3,000) Reserves 37 Mt at 1.9 g/t for 2.3 Moz gold (US$2,00
Slide 14: Near Mine Growth: Sanbrado Expansion Potential
NEAR MINE GROWTH S A N B R A D O E X PA N S I O N P O T E N T I A L Over +60,000m of surface and underground drilling in progress with potential to deliver significant resource and reserve growth rsonal use only Mineralisation at M1 South and M5 remains open at depth supporting potential to lift
Slide 15: Near Mine Growth: M5 Recent Results
NEAR MINE GROWTH M 5 R E C E N T R E S U LT S rsonal use only Thick zones of high-grade mineralisation confirmed beneath the current Ore Reserves at M5 South underground. Infill drilling for the updated M5 open pit Ore Reserve complete, now targeting resource and reserve growth potential. Refer
Slide 16: Our People: Building a Strong Local Workforce
OUR PEOPLE BUILDING A STRONG LOCAL WORKFORCE Équipe WAF 3,653 total workforce across all Burkina Faso operations rsonal use only 2,491 WAF group employees, >95% Burkinabe 54 internships supporting future talent Training >32,000 training hours delivered, covering induction, leadership develop
Slide 17: Protecting Our Workforce: Health, Safety and Security
PROTECTING OUR WORKFORCE H E A LT H , S A F E T Y A N D S E C U R I T Y Comprehensive Occupational Health and Safety Management System (OHSMS) based on ISO 45001 standards rsonal use only OHSMS key aspects WAF TRIFR: 1.35 vs Western Australian Gold Industry IFR: 5.7* Vigorous critical risk manag
Slide 18: Investing in Our Common Future
INVESTING IN OUR COMMON FUTURE D R I V I N G S U S TA I N A B L E G R O W T H A N D S U P P O R T I N G S H A R E D VA L U E Contributions since mining operations began in 2020 US$850 million contributed directly to Burkina Faso in taxes and royalties rsonal use only US$18 million invested in comm
Slide 19: ESG: Building Lasting Value
ESG B U I L D I N G L A S T I N G VA L U E Education & Training Building and refurbishing schools, with solar power and learning resources rsonal use only IT access in high schools and vocational training for local youth Livelihoods & Local Economic Development Livelihood restoration programs
Slide 20: Setting the Pace for Mid-Tier Producers
WEST AFRICAN RESOURCES LTD S E T T I N G T H E PA C E F O R M I D - T I E R P R O D U C E R S • Quality team aligned with shareholders TEAM rsonal use only • 5 years of meeting or beating production guidance GOLD • 7 Moz unhedged gold reserves EXPOSURE • 13.7 Moz unhedged gold resources • Building c
Slide 21: West Africa's Growing Mid-Tier Gold Producer
rsonal use only WEST AFRICAN RESOURCES LTD W E ST A F R I C A’S G R O W IN G M I D - TIER G O LD PR O D U C ER w w w. w e s t a f r i c a n r e s o u r c e s . c o m A S X : WA F
Slide 22: Capital Structure
WEST AFRICAN RESOURCES LTD C A P I TA L S T R U C T U R E INVESTOR BY GEOGRAPHIC LOCATION1,3 Australia & NZ ASX: WAF 51.3% Total Ordinary Shares on Issue 1,144,102,726 Europe 26.7% rsonal use only Performance rights on issue 7,841,788 North America 18.5% Top 20 Shareholders1 59% Asia 3.6% Cash at 30
Slide 23: Mineral Resources
MINERAL RESOURCES Measured Resource Indicated Resource Inferred Resource Total Resource Cutoff Containe Containe Contain Containe Tonnes Grade d Au Tonnes Grade d Au Tonnes Grade ed Au Tonnes Grade d Au rsonal use only g/t (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (0
Slide 24: Ore Reserves
ORE RESERVES Proved Probable Proved + Probable rsonal use only Tonnes Grade Contained Au Tonnes Grade Contained Au Tonnes Grade Contained Au (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz M1 South UG 2,130 6.3 430 2,990 5.4 520 5,120 5.8 950 M5 South UG 0 0.0 0 2,550 2.8 230 2,550 2.