RC drilling delivers further high-grade results at Kokoseb

Wia Gold Limited (ASX: WIA) (Wia or the Company) is pleased to report results from a further twenty-two reverse circulation (RC) drill holes - KRC037 to KRC059 - completed at the Kokoseb Gold Project (Kokoseb), situated on the Company's Damaran Gold Project located in Namibia.

These drill holes include the latest reconnaissance holes completed along strike - at the Eastern trend of Kokoseb - and the first systematic infill drill holes - located where there is the merging between the Northern trend and the Western trend - combined with drill holes completed to further improve the geological understanding and the continuity of the mineralised zones. Best results include 14m at 1.82 g/t Au in hole KRC059, 7m at 4.13 g/t Au in hole KRC052, 20m at 2.13 g/t Au and 12m at 2.59 g/t Au, both in hole KRC050. At the end of February 2023, 77 RC holes for 15,099 metres have been completed at Kokoseb. Two drill rigs are progressing the program, with a maiden resource estimate expected in Q2 2023.

Wia's Chairman, Andrew Pardey, commented: 'The Kokoseb gold discovery continues to impress, regularly returning high-grade gold intercepts over thick mineralised zones. The continuity between the Northern trend and the Western trend, at the high-grade NW zone, is now covered by further drill holes. Regular news flow is expected in the coming weeks as assay results are progressively received from the laboratory.' 'Drilling is currently progressing along strike on the Southern high-grade zone, near drill hole KRC036, which previously returned key significant intercepts1, and between the Central and the Western highgrade zones, both targeting extensions to the currently drilled mineralisation.' 'Finally, we are looking forward to delivering the maiden resource estimate which is expected during the second quarter of 2023.'

Contact:

Andrew Pardey

Tel: +61 8 9381 5686

Competent Person's Statement

The information in this announcement that relates to exploration results at the Kokoseb Gold Project located on the Company's Damaran Gold Project is based on information compiled by Company geologists and reviewed by Mr Pierrick Couderc, in his capacity as Exploration Manager of WiaGold Limited. Mr. Couderc is a member of both the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Couderc consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

About Wia's Namibia Projects

Since 2018 the Company has successfully consolidated a very large land position on the Damaran belt in central Namibia (the Damaran Project), which is strategically located along key regional structures. The Damaran Project, which hosts the Kokoseb gold discovery, consists of 12 tenements with a total area of over 2,700km2 held under joint venture (Wia 80%) with the state-owned mining company, Epangelo and a local Namibian group.