Western Mines Group Ltd. updated shareholders on the results of mineralogical investigation work completed on samples from recent Phase 2 hole MTD022 at the Mulga Tank Ni-Cu-PGE Project, on the Minigwal Greenstone Belt, in Western Australia's Eastern Goldfields. Phase 2 hole MTD022 (and wedge MTD022W1) was drilled to a depth of 647.1m and intersected a ~506m thick package of high MgO adcumulate dunite ultramafic containing disseminated magmatic sulphides (trace to 2%) that in places coalesced into interstitial blebs (3 to 5% sulphide) (ASX, Nickel Sulphide Mineralisation Seen in Hole MTD022, 14 December 2022). The disseminated sulphides started from ~120m downhole.

Towards the end of the hole, near the basal contact of the complex, three intersections of high-tenor remobilised massive nickel sulphide were observed (confirmed by spot pXRF readings). Four samples of core were collected from different depths down the hole and prepared for mineralogical section analysis and identification of sulphide species present. Results of this work confirms the presence abundant high-tenor disseminated pentlandite in the samples, with little-to-no pyrrhotite and pyrite observed.

This has very positive implications for the potential of an extensive working mineral system for Type 2 Mt Keith-style disseminated nickel sulphide mineralisation. Combined with observations from previous holes there is evidence of a significant mineralisation "footprint" across the Mulga Tank Ultramafic Complex. MINERALOGICAL INVESTIGATION WORK: WMG has recently completed mineralogical thin section work to help characterise the rock types and sulphide species observed in Phase 2 diamond drill hole MTD022.

This work has been led by the Company's Technical Director Dr. Ben Grguric. HOLE MTD022: The hole was drilled to a depth of 558.5m before the drill rods became stuck in broken ground. The drilling largely confirmed WMG's geological modelling work with the hole intersecting 474.2m of variably serpentinised and talc-carbonate altered high MgO adcumulate dunite ultramafic (from 84.3-558.5m), beneath 84.3m of sand cover (0-84.3m).

A wedge was inserted in hole MTD022 at 460.1m depth and the hole was extended to a total depth of 647.1m; the deepest hole ever drilled at the Mulga Tank Project. Variably serpentinised and talc-carbonate altered adcumulate dunite ultramafic was intersected (460.5-588.7m) before the basal contact with the footwall consisting of basalt and interbedded cherts and shales (588.7-647.1m) at 588.7m depth. Disseminated magmatic sulphides (trace to 2%) were observed down the majority of the hole, starting from around 120m depth.

In places the disseminated sulphides coalesced into interstitial blebs (3 to 5% sulphide) between olivine crystals (ASX, Nickel Sulphide Mineralisation Seen in Hole MTD022, 14 December 2022). Four samples of core were taken and prepared for polished section from a range of depths down the hole (120.15m, 279.15m, 337.1m and 446m) with descriptions. Overall, the sulphide component of the MTD022 samples examined is dominated by relatively coarse pentlandite blebs suggesting a high tenor assemblage which would likely yield a high-grade nickel concentrate.

The observation of abundant pentlandite, with minimal amounts of other sulphide species, such as pyrrhotite and pyrite, is positive for the potential of the Mulga Tank complex to host an extensive working mineral system for Type 2 Mt Keith-style disseminated nickel sulphide mineralisation. WMG is greatly encouraged by the results of the exploration work to date and the potential of the Mulga Tank Ultramafic Complex to host multiple nickel sulphide deposits. The Company looks forward to the ongoing results of the Phase 2 drilling program and will update shareholders on significant news flow as the program progresses.