, ASX Announcement and Media Release

Wednesday, 26th Nov 2014

ASX: WWI

www.westwitsmining.com

Fast Facts

Capital Structure Shares on issue Options

Market Cap Cash in Bank Debt

Enterprise Value (EV)

Current JORC Resource

@ 26 Nov 2014

317 million

52 million

A$2.2 million A$1.0 million Nil A$1.2million

287,000ozs

Agreement signed with new local partner provides pathway forward at Derewo

Highlights

Framework agreement signed with PT Intan Angasa Aviation ("PTIA")

PTIA is to facilitate access to the alluvial site as well as ongoing security

Company Directors & Management

Michael Quinert Chairman

Vin Savage Executive Director

Neil Pretorius Non-Exec Director

Hulme Scholes Non-Exec Director



Company Highlights

Indonesia

o High grade placer deposit

o Project show early stage

similarities with discoveries inc;

Porgera, Edie Creek, Wau

o Independent geologists believe source of nuggets likely to be local, based on the size and shape of the nuggets discovered

South Africa

o 287,000 ozs Resource

o near surface and underground

targets

o 31.8m ozs Au produced historically

o Conceptual Target

o 3.85-5.06 million ozs Au

o 16.5-21.7 million lbs U


Contact Details West Wits Mining Limited ACN 124 894 060

Suite 1, 1233 High Street

Armadale VIC 3143

T: +61 3 8692 9049

F: +61 3 8692 9040

E: info@westwitsmining.com

W: www.westwitsmining.com

services

PTIA to ensure the minesite is accessible for employees to enter and exit safely as well as undertake mining activities

Agreement sets the pathway for commencement of mining at Derewo

No dilution of the Company's interest in Derewo occurs under this agreement.

West Wits Mining Limited ("West Wits" or "the Company") is pleased to announce it has entered into a cooperation framework agreement with PT Intan Angasa Aviation ("PTIA") for it (or its nominee) to become the Company's new local partner in the Derewo River Gold Project ("Derewo"), Papua Province, Indonesia.
Under this agreement PTIA is to facilitate unfettered access, mining and security to permit the Company's operations at Derewo. PTIA is to secure the minesite so as to permit the employees and contractors of the Company's Indonesian subsidiary, PT Madinah Quarrata'ain ("PTMQ") to enter, exit and safely control the entire alluvial mining area free from the presence, influence or interference of any unlawful third parties. On delivery of that outcome PTIA or its nominee will be entitled to a 50% economic interest in the alluvial project and a 20% shareholding in the operating company. That entitlement corresponds with and will replace existing equity arrangements with the current local partner who is in default of multiple obligations to deliver access to the site. All costs incurred through the implementation process are deferred until 30 days after commencement of mining and are then payable by the local operating company. As such returns are subject to the successful operation of the Derewo project. For that reason significant due diligence was undertaken by PTIA to validate the Company's mining plans including the internal mining costs and processing projections prior to entering this agreement.
The Company commenced the process of seeking a new local partner in response to the continued frustration of its attempts to commence alluvial mining operations at Derewo. Whilst the local Bupati (mayor) issued formal orders (17 June 2014) to the Paniai Police chief (Kapolres) and the Paniai Mines Department to shut down all illegal mining activities within the Regency no action has been forthcoming.
PTIA is well known to the Company as it supplied extensive logistical services and support during the process of construction of infrastructure at Derewo throughout 2012 and 2013. Indeed, PTIA's services were critical in providing independent access to the site which enabled the construction of the airstrip, road and mess. This shared experience allowed us to forge a strong working relationship with PTIA. PTIA is affiliated with a wider group that operates businesses across Indonesia ranging from hotels, property, palm oil plantations and some early stage mining. It is through this wider group that PTIA holds key relationships which we believe will allow it to procure outcomes for all stakeholders as well as manage the required security on site.
The board of West Wits is delighted with this agreement and welcomes PTIA as a new partner in Indonesia. This is a positive step forward for the Derewo project, and promises closure of a challenging period in dealing with the barriers that have obstructed the commencement of production at Derewo. We believe PTIA and its affiliates have the ability, determination and capabilities to provide us with the support required to safely access and commence processing the alluvial terraces contained within the Derewo project area.

The Company looks forward to updating shareholders as the implementation plan progresses. For And On Behalf Of The Board
Michael Quinert
Chairman
West Wits Mining Limited

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