Westgold Resources Limited provided this update from the ongoing drilling program at high-grade Great Fingall deposit at Cue in Western Australia. The Golden Crown and Great Fingall mines, separated by ca. 700m along the Great Fingall Dolerite, have hosted significant historic production, with over 1.55Moz of gold being mined since the late 1800's. Great Fingall between 1891 and 1929 yielded 1.2Moz of gold from 1.9Mt of ore at a recovered grade of 19.5g/t Au.

Twenty levels were developed underground to a depth of 786 metres below the surface. Mining recommenced in 1995 via open pit methods, focusing on extracting the stockwork vein system in the footwall of the Great Fingall Reef. The open pit operated up until March 1999, yielding 82koz gold from 1.8Mt of ore.

Two subsequent open pit campaigns have produced another 426kt at 2.1g/t and 620kt at 1.3g/t respectively. The last completed by Westgold in 2020 leaving the pit floor 170m below surface with underground decline access established. Importantly no work has been conducted on the underground extensions to the orebody for nearly a century.

2023 Drilling Objectives: Westgold has produced an evaluation for recommencement of mining at Great Fingall producing robust operating returns centred upon extraction of virgin Great Fingall Reef material below the base of historic underground workings. In order to advance towards a Final Investment Decision, a drill proposal comprising 4 parent holes and 7 wedges was developed, with the aim of allowing a more accurate assessment of the structural setting of the Great Fingall Reef at depth. The planned 11 additional pierce points on the Great Fingall Reef were to confirm orientations and further gauge the grade variability of the reef.

A nominal target spacing of 100m down dip x 65m along strike was proposed to test a panel of 200m x 200m below the effective limit of current drilling. Should the program be successful, it was anticipated that an additional 600-700kt at 4-5g/t Au for 77-113,000oz could be added to the evaluation inventory (assuming grades from the well-drilled 240mRL ­ 0mRL panel were replicated in the target area below the -65mRL). New Drilling Underpins Geological Reinterpretation: Gold mineralisation at Great Fingall occurs within a significant quartz reef that strikes northwest and has a strike extent exceeding 500m.

The reef dips to the southwest at 60-65 in the near-surface environment. The dip of the Great Fingall Reef has previously been interpreted to shallow to circa 45 at 700m depth, mimicking geometries observed during open pit mining and underground in the nearby Golden Crown Mine. This interpretation considers the results of current Westgold holes and the similarities in both observed geology and mineralisation tenor.

This reinterpretation of the structural architecture of the deposit has several conceivable consequences, not the least of which include the definition of multiple structures containing potentially economic mineralisation where only one was thought to exist, and the continuation of the main Great Fingall Reef within the most prospective of the Great Fingall Dolerite host units longer than would otherwise be the case with a shallowing Reef geometry. Pleasingly this new structural model has been well supported by the three holes drilled to date targeting this model. Holes 22GFDD007, 22GFDD007_W1 and 22GFDD007_W2 have all intersected both the hanging wall bifurcation and Great Fingall Reef within metres of the modelled position, with the Great Fingall Reef in 22GFDD007_W2 providing an outstanding interval of 3.50m at 45.15 g/t from 1,337.50m in 40g charge fire assays.

Given the significant volumes of visible gold in the core, this interval has been submitted for screen fire assaying, with results currently pending.