Western Mines Group Ltd · ASX:WMG

Western Mines — Non-Deal Roadshow (September 2023)

16 slides from Western Mines's roadshow presentation, Sep 20, 2023

  1. Slide 1: An Emerging Nickel Sulphide Discovery Under Cover

    For personal use only WESTERN MINES GROUP AN EMERGING NICKEL SULPHIDE DISCOVERY UNDER COVER EAST COAST NON-DEAL ROADSHOW BRISBANE-SYDNEY-MELBOURNE @westernmines 20-22 SEPTEMBER 2023 westernmines Western Mines Group ASX: WMG www.westernmines.com.au

  2. Slide 2: Disclaimer

    DISCLAIMER For personal use only NATURE OF THIS DOCUMENT This presentation has been prepared by Western Mines Group Ltd ACN 640 738 834 (Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge

  3. Slide 3: A Small Company with a Big Project

    A SMALL COMPANY WITH A BIG PROJECT For personal use only WESTERN MINES GROUP COMPANY OVERVIEW 10x • High-impact exploration focused on Ni-Cu-PGE and Au “An exploration driven company • 8 projects all located in Western Australia looking to create value through • Flagship Mulga Tank Ni-Cu-PGE Project

  4. Slide 4: Directors

    DIRECTORS For personal use only Rex Turkington Non-Executive Chairman Capital Markets | Corporate Management Rex is a highly experienced corporate advisor and economist who has worked extensively in the Australian financial services and stockbroking industry, specialising in the natural resources se

  5. Slide 5: Nickel: Key Component of the Global Energy Transition

    NICKEL: KEY COMPONENT OF THE GLOBAL ENERGY TRANSITION For personal use only LARGE LOW-GRADE NICKEL SULPHIDE WILL INCREASINGLY BECOME AN ESSENTIAL NEW SUPPLY NICKEL LATERITE Around four times more energy and CO2 intensive than sulphide a na Large surficial deposits, often in tropical regions, can be

  6. Slide 6: Frontier Exploration in a World Class Nickel Province

    FRONTIER EXPLORATION IN A WORLD CLASS NICKEL PROVINCE For personal use only YILGARN CRATON WESTERN AUSTRALIA • One of the world’s major nickel provinces • World-class examples of komatiite-hosted nickel deposits – Kambalda (35Mt @ 3.1% Ni), Perseverance (50Mt @ 2.3% Ni) and Mt Keith (643.7Mt @ 0.58%

  7. Slide 7: Emerging Discovery and Belt Scale Opportunity

    EMERGING DISCOVERY AND BELT SCALE OPPORTUNITY For personal use only MAJOR KOMATIITE NICKEL SYSTEM UNDER COVER • Large adcumulate dunite body (~15km2) with interpreted komatiite channel flows extending NW over >12km • Limited drilling has penetrated ultramafic system through cover - 23 out of 29 hole

  8. Slide 8: Chasing Major Deposits

    CHASING MAJOR DEPOSITS For personal use only EXPLORATION MODELS ARE PERSEVERANCE AND MT KEITH MULGA TANK ULTRAMAFIC COMPLEX OF COMPARABLE SIZE/SCALE TO PERSEVERANCE AND MT KEITH Model PERSEVERANCE MT KEITH Type Type 1 Stratiform Basal Massive Sulphide* Type 2 Interstitial Disseminated Sulphide* Reso

  9. Slide 9: Main Dunite Body: Mt Keith-Style Mineral System

    MAIN DUNITE BODY: MT KEITH-STYLE MINERAL SYSTEM For personal use only DISSEMINATED SULPHIDES OVER >500M INTERVALS • Deep EIS holes MTD023 and MTD026 intersected extensive disseminated magmatic sulphides • MTD023: Cumulative 693.5m at 0.28% Ni, 128ppm Co, 61ppm Cu, 27ppb Pt+Pd with S:Ni 1.1 • MTD026:

  10. Slide 10: Multiple Broad Zones of Disseminated Mineralisation

    MULTIPLE BROAD ZONES OF DISSEMINATED MINERALISATION For personal use only CROSS SECTION W-E ACROSS MAIN BODY OF COMPLEX ASX:WMG Western Mines Group Company Presentation, September 2023 10

  11. Slide 11: Initial Testwork Confirms Significant Nickel in Sulphide

    INITIAL TESTWORK CONFIRMS SIGNIFICANT NICKEL IN SULPHIDE For personal use only MTD012 EXTENSIVE NICKEL SULPHIDE MINERALISATION 4A 50m @ 0.32% Ni 97% AR 50m @ 0.31% Ni • Aqua regia (AR) versus four acid (4A) demonstrates nickel mineralisation in sulphide 4A 174m @ 0.24% Ni MTD020 99% • Shallow minera

  12. Slide 12: Evidence for Perseverance-Style Hybrid System

    EVIDENCE FOR PERSEVERANCE-STYLE HYBRID SYSTEM For personal use only REMOBILISED MASSIVE NICKEL SULPHIDE VEINING • Multiple zones of remobilised massive nickel sulphide veinlets seen across the Complex • MTD012: 0.5m at 1.49% Ni, 0.04% Cu and 0.04% Co from 385.8m • MTD013: 1.6m at 0.83% Ni and 0.30g/

  13. Slide 13: Expansion of Drilling Program

    EXPANSION OF DRILLING PROGRAM For personal use only SECOND RIG STARTS NEW EXPLORATION PHASE • 18 hole 5,400m RC program recently commenced in September • Covering 2km x 1km area across centre of main body • Systematically targeting shallow disseminated mineralisation to 300m • Possibility to extend

  14. Slide 14: NetZero Carbon Nickel

    NETZERO CARBON NICKEL For personal use only CARBON CAPTURE POTENTIAL OF FUTURE MINE TAILINGS • High MgO ultramafic rocks spontaneously carbonate when exposed to atmosphere • Reconnaissance XRD testwork on 13 samples from Mulga Tank Complex show up to 8% brucite and 12% Hydrotalcite Group minerals •

  15. Slide 15: Multiple Drivers to Company Success Over 6-12 Months

    MULTIPLE DRIVERS TO COMPANY SUCCESS OVER 6-12 MONTHS For personal use only PATHWAYS TO SHAREHOLDER VALUE 1 MT KEITH-STYLE Systematic RC drill program EXTENDING DISSEMINATED Confirm lateral extent of disseminated mineralisation RESOURCE DRILL OUT SULPHIDE MINERALISATION Criteria: >500,000t [Ni], >0.2

  16. Slide 16: Exciting Discovery Opportunity

    EXCITING DISCOVERY OPPORTUNITY For personal use only EXPLORATION PHILOSOPHY • We believe multiple significant nickel deposits could be found at Mulga Tank • We strive to do high-quality technical exploration work • We are frugal with overheads to maximise exploration spend and minimise equity diluti

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