West African Resources Ltd · ASX:WAF

West African Resources — Diggers and Dealers 2018

20 slides from West African Resources's conference presentation, Aug 7, 2018

  1. Slide 1: Sanbrado Gold Project Feasibility Study

    Sanbrado Gold Project Feasibility Study 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 Diggers and Dealers, Kalgoorlie – 6 to 8 August 2018 Richard Hyde – Founder, Managing Director & CEO

  2. Slide 2: Important Notice

    IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER except as required by law. For the reasons set forth above, investors should not place undue reliance on forward- This presentation contains “forward-looking information” within the meaning of securities legislation, including looking information. For

  3. Slide 3: Sanbrado Gold Project Highlights

    SANBRADO GOLD PROJECT H I G H LI G H T S HIGH-GRADE  Sanbrado Gold Project: 1.6Moz Probable Mineral Reserve +200,000 oz pa  211,000 oz average gold production per annum for the first 5 years PRODUCTION  +4g/t average head grade for the first 5 years LOW COST,  High-grade MRE supports low cost op

  4. Slide 4: Corporate Overview

    CORPORATE OVERVIEW INVESTORS BY TYPE ASX & TSX-V: WAF 1832 Asset Mgt Total Ordinary Shares on Issue 690.8m (Dynamic Funds) VanEck Global Options on issue 16.0m 7% 6% Top 20 Shareholders 52% Retail Insiders & Cash (30 June 2018) A$43m Management 35% Market Capitalisation (at A$0.32/share) A$220m 4% I

  5. Slide 5: Experienced Board and Management

    EXPERIENCED BOARD AND MANAGEMENT BOARD OF DIRECTORS 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 years experience in m

  6. Slide 6: Sanbrado Gold Project

    SANBRADO GOLD PROJECT  Located in central Burkina Faso  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 population density area, l

  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 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 133kozpa over 11 year LOM

  8. Slide 8: M1 South Deposit

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT 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), 70koz at 7.6 g/t gold (Inf) June 2018 Probable Reserves  OP 0-120m - 156koz at 6.9 g/t gold  UG 120-500m - 553koz at 11.7 g/t

  9. Slide 9: M1 South Deposit: +500m and still going strong

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT +500m and still going strong !  Step down drilling confirms mineralisation still wide open. Recent drilling beneath reserves include: – TAN18-DD196: 8m at 7.0 g/t from 693 including 1.5m at 21.6 g/t Au and 1m at 9.2 g/t Au 705.5m – TAN18-DD189: 11m at 11.2 g/t

  10. Slide 10: M5 Deposit

    SANBRADO GOLD PROJECT M5 DEPOSIT 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  Over 50% oxide feed  3.8

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

    SANBRADO GOLD PROJECT ORE MINED BY SOURCE AND ANNUAL PRODUCTION 300,000  M1 South OP 2 years 250,000  M5 OP 11 years  M1 South UG 4.5 years  TAN18-DD189: 11m at 11.2g/t Au and 6m at 24.4g/t Au 200,000 70m below current reserves M1 South UG reserve  Further drilling to extend mineralisation at d

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

    SANBRADO GOLD PROJECT GROWTH OF RESOURCE, RESERVES AND GRADE 2014-2018 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 Oct 2017 Jun 2018 Indica

  13. Slide 13: Work Programs 2018-19

    SANBRADO GOLD PROJECT WORK PROGRAMS 2018-19 PROJECT  Project finance process underway  Strong interest from international resource banks, debt funds and royalty companies FINANCE  Targeting conventional project finance, expect to appoint banking syndicate by Q4 2018  Water storage pit c.150,000m

  14. Slide 14: Near Term Milestones

    NEAR TERM MILESTONES CURRENT DEVELOPMENT PLAN FOR 2018 AND BEYOND 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  Formal Investment Decision (FID) expected  Detailed design and commenceme

  15. Slide 15: Additional Information

    Additional Information I AFRICAN RESOURCES

  16. Slide 16: Exploration Potential & Upside Areas

    EXPLORATION POTENTIAL & UPSIDE AREAS 1 NEAR MINE EXPLORATION 2 SURROUNDING EXPLORATION <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 maintained 1,500oz/vm f

  17. Slide 17: Sanbrado Project

    SANBRADO PROJECT 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 value in the region 1

  18. Slide 18: Mineral Resources and Ore Reserves

    MINERAL RESOURCES AND ORE RESERVES SANBRADO GOLD PROJECT MINERAL RESOURCES | June 2018 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 3.0 750,000 25.5 620,00

  19. Slide 19: Mineral Resources and Ore Reserves

    MINERAL RESOURCES AND ORE RESERVES SARTENGA BORNITE GOLD PROJECT MINERAL RESOURCES | June 2013 Sartenga Inferred Mineral Resource - June 2013 (0.45% Copper Equivalent cut-off grade) Grade Contained Metal Copper Tonnes Cu Au Mo Ag Copper Gold Moly Silver Zone Eq* (Mt) % g/t g/t g/t (Kt) (Koz) (Kt) (K

  20. Slide 20: West African Resources Ltd – ASX / TSXV: WAF

    West African Resources Ltd – ASX / TSXV: WAF www.westafricanresources.com

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