Wia Gold Limited - QUARTERLY ACTIVITIES REPORT for the Quarter ended 30 June 2023

Wia Gold Limited (ASX: WIA) (Wia or the Company) is pleased to provide its Quarterly Activities Report for the Quarter ended 30 June 2023.

During the Quarter, a maiden inferred mineral resource estimate (MRE) was reported at the Company's Kokoseb Gold Project (Kokoseb) in Namibia, where follow up reverse circulation (RC) drilling has continued, focused on expanding the resource.

Further RC drilling results, which have been included in the MRE, were reported from thirty-one drill holes - KRC060 to KRC085, KRC088, KRC089 and KRC091 to KRC093. Near-term significant growth potential was also highlighted from RC results received from a further seven step-out RC drill holes - KRC086, KRC087, KRC090, and KRC094 to KRC097 - which were post MRE work. In Cote d'Ivoire, a series of auger drilling programs, soil sampling grids and termite mound sampling grids were completed with all results pending at the end of June Quarter.

Maiden Mineral Resource Estimate - Kokoseb

The maiden Kokoseb MRE comprises 1.3 Moz at 1.0 g/t gold, at a cut-off grade of 0.5 g/t, including a higher-grade gold portion of 0.72 Moz at 1.5 g/t Au using a cut-off grade of 1.0 g/t Au.1 The Kokoseb MRE has demonstrated very good continuity in grade and width along the mineralisation from surface. The Kokoseb MRE was completed within 11 months of reporting the first diamond drilling results and within two years of the surface geochemistry discovery, which demonstrates Wia's commitment to rapidly advancing evaluation of its landholding with systematic exploration. The Kokoseb MRE was completed at an extremely low-cost discovery of approximately US$2/oz of gold, inclusive of all exploration expenditures allocated to the Kokoseb property, and applicable personnel and overhead management costs.

Series of significant RC results included in the Kokoseb MRE

Results from thirty-one RC drill holes were received during the Quarter and were included in the Kokoseb MRE. These drill holes were all infill and depth extensional holes located at the Central Zone, the NW Zone and at the Southern Zone - KRC060 to KRC085, KRC088, KRC089 and KRC091 to KRC093. Best results included 31m at 3.37 g/t Au in hole KRC067 and 15m at 1.80 g/t Au in hole KRC072, both holes located at the junction between the Central and NW Zones. In addition, 34m at 1.81 g/t Au was reported in hole KRC074 and 23m at 1.86 g/t Au in hole KRC093, both holes demonstrating continuity of the NW high-grade zone at depth and 11m at 5.02 g/t Au in KRC076, 6m at 6.77 g/t Au in hole KRC084, both of which are part of the Southern high-grade shoot

Reference to Previous ASX Announcements

In relation to the information in this announcement that relates to the Kokoseb MRE, other than subsequently released drilling results, WIA confirms that it is not aware of any new information or data that materially affects the information included in that release. All material assumptions and technical parameters underpinning the estimates in that ASX release continue to apply and have not materially changed. In relation to the exploration results included in this June Quarterly Activities Report, the dates of which are referenced, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements.

Contact:

Andrew Pardey

Tel: +61 8 9381 5686

About Wia's Namibia Projects

Since 2018 the Company has successfully consolidated a very large land position on the Damara belt in central Namibia (the Damaran Project). The Damaran Project, which hosts the Kokoseb Gold Project, consists of 12 tenements with a total area of over 2,700km2 held under joint venture with the state-owned mining company; Epangelo and a local Namibian group. The Damaran Project is strategically located along key regional structures. Exploration has been ongoing in Namibia since 2018, with recent work consisting of early-stage reconnaissance in the form of multi-element soil geochemistry on this promising package of land. Gold and pathfinder elements anomalies are systematically followed up with infill sampling, mapping and trenching.

About Wia's Cote d'Ivoire Projects

The Bouafle Project comprises two exploration permits - Bouafle North and Bouafle South - covering an area of 742km2 . A third permit, Zenoula, is under application. The Mankono Project includes the Mankono West permit, which covers an area of 379 km2 and a further five permits under application, Mankono East, Tieningboue, Dialakoro, Bouandougou and Kouata. The Bocanda Project, comprises two exploration permits: Bocanda North and Bocanda, covering an area of 750 km2 . A third licence, Tagba, is under application. The Company also holds the Issia exploration permit (PR-880), which covers an area of 375 km2