Western Gold Resources Ltd.ASX: WGR

Quarterly Activities and Cash Flow Reports

· Issued by Western Gold Resources Ltd.

Filed with ASX · · 16 pages · English

• The updated Resource Gold Duke Gold Project global Measured, Indicated and Inferred (JORC 2012) Mineral Resource Estimate is now 2.95Mt @ 2.07g/t Au for 235,000 oz.1 • Using a gold price of $3,500 the Production Target mining inventory for the Project is approximately: 447Kt at 2.55g/t producing 34koz gold.2 • The Production Target generates an estimated undiscounted accumulated cash surplus of

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