Western Gold Resources Ltd. · ASX:WGR
Western Gold Resources — Investor Presentation (October 2025)
17 slides from Western Gold Resources's investor presentation, Oct 13, 2025
Slide 1: Gold Duke Project: Fully Funded to Production
For personal use only Gold Duke Project ➢ Fully Funded to Production ➢ 3 Month Payback Period ASX: WGR | westerngoldresources.com.au Binding Toll Milling Approvals Short timeframe Located near heart Grade Control and Infill Agreement signed in place to production of WA Goldfields Drilling Completed
Slide 2: Disclaimer
Disclaimer Important Information and Disclaimer Forward Looking Statements Western Gold Resources Limited (“WGR”, “Western Gold This Presentation may contain forward‐looking statements which 1. WGR’s ASX Announcement 7 October 2025 “$6.75M Capital Resources” or “the Company”) is an Australian listed
Slide 3: Company Overview
Company Overview Capital Structure – Post $6.75m Capital Raise1 For personal use only (post November AGM) Board and Management $0.12 290,256,3151 Placement price Shares on issue $34.83M $6.5M Gary Lyons Cullum Winn Teck Siong Wong Ryan Mount Market Cap Pro-forma Cash Non-Executive Chairman Managing
Slide 4: Scoping Study Financial Metrics
42,800 oz (rec) Gold $2.6M – $2.8M For personal use only Production Target of Pre-Mining and Set Up Compelling 686kt @ 2.1g/t (rec) Capital Financial Metrics 3 Months 14 Months Scoping Study Payback Total Mine Plan Sept 2025 $56.1M $97.3M Est. Undiscounted Cash Est. Undiscounted Cash Surplus @ A$4,5
Slide 5: Next Steps to Production
Next Steps to Production October November December January February March For personal use only Drilling Results Grade Control and Resource Model Update Infill Drilling Completed Decision to Mine Commence Mobilisation and Site Establishment First Gold Production Timeline subject to Decision to Mine
Slide 6: Stage 1 Fully Approved
Stage 1 – Fully Approved • WGR is now firmly positioned among Australia’s leading junior gold developers, For personal use only having secured all key approvals necessary to advance towards production. • Stage 1 of the Gold Duke Project has already received full mining approvals for all four open pi
Slide 7: Nearby Processing Secured
Nearby Processing Securing For personal use only • Toll Milling Agreement signed with Wiluna Mining Corporation Limited (Subject to Deed of Company Arrangement) (WMC) accelerates the transition into production for the Gold Duke Project.2 • WMC’s Fully Operational - Wiluna processing plant is only 46
Slide 8: Key Milestone for Preferred Mining Contractor Agreement Achieved
Key Milestone for Preferred Mining Contractor Agreement Achieved For personal use only WGR has issued a non-binding notice to SSH Group Limited (ASX:SSH), selecting them as the preferred mining contractor for the Gold Duke Project in Western Australia. • The first key internal milestone required for
Slide 9: Grade Control Drilling Completed
Grade Control Drilling Completed • VM Drilling supported by SSH Mining have For personal use only successfully completed 35,300 metre Grade Control and Infill program on schedule.3,4 • The drilling program focused only on the Stage 1 pits : Emu, Eagle, Golden Monarch and Gold King, which have all ap
Slide 10: Mineral Resource Estimate
Mineral Resource Estimate Measured Indicated Inferred Total Deposit Tonnes Grade koz Tonnes Grade koz Tonnes Grade koz Tonnes Grade koz Gold Duke Project global Measured, For personal use only (000s) g/t Au (000s) (000s) g/t Au (000s) (000s) g/t Au (000s) (000s) g/t Au (000s) Indicated, and Inferred
Slide 11: Brownfields Exploration to Expand Production Profile
Brownfields Exploration to Expand Production Profile For personal use only Stage 2 Prospects • The company has commenced a detailed review of the historical Gold Duke database in the lead up to progressing Stage 1 of the project into production9. • Current works identify the potential to expand Gold
Slide 12: Joyners Find Prospect
Joyners Find Prospect Location and Geology For personal use only • Located within the Joyners Shear Zone, with 300m strike & historic underground mining. • NW-trending quartz vein hosts mineralisation. • Chlorite-talc alteration & quartz-sericite veining observed in drilling. • High-grade BIF-hosted
Slide 13: Gold King / Golden Monarch Saddle
Gold King / Golden Monarch Saddle Location and Geology For personal use only • Located within the Joyners Shear Zone, a key structural corridor for gold mineralisation. • Positioned between Gold King and Golden Monarch pits, suggesting broader mineralised system with geological continuity. • Close p
Slide 14: Emu / Eagle Saddle
Emu / Eagle Saddle Location and Geology • Located within the Joyners Shear Zone, a key structural corridor for gold For personal use only mineralisation. • Positioned between Emu and Eagle pits, suggesting broader mineralised system with geological continuity. • Close proximity to mine infrastructur
Slide 15: Bottom Camp Prospect
Bottom Camp Prospect Location and Geology Situated along the Brilliant Shear Zone, a key structural feature. For personal use only • • Gold mineralisation hosted in quartz reefs & stockworks within banded iron formation (BIF) units. Historical Mining & Production • Joyners Find Greenstone Belt: Gold
Slide 16: A Clear Path Forward
Approvals For personal use only Gold price at Toll Milling in place Gold Duke : record highs Agreement signed A Clear Path Forward Low Capital 3-month Payback Fully Funded to requirement Production Grade Control and Infill Drilling now Completed further Advances WA Goldfields Project in Very Strong
Slide 17: For more information
For personal use only For more information Managing Director | Cullum Winn E: cullumw@westerngoldresources.com.au ASX: WGR | westerngoldresources.com.au 17
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