Westgold Resources Accelerates Gold Portfolio Expansion Across Multiple Projects

Westgold Resources Hits Record 16.3 Million Ounce Gold Portfolio

Westgold Resources Limited has announced a significant expansion of its gold portfolio, with Mineral Resources growing to 16.3 million ounces and Ore Reserves increasing to 3.5 million ounces as of June 30, 2025. This represents substantial growth of 24% in Resources and 5% in Reserves, even after accounting for mining depletion during the year.

Major Portfolio Expansion Establishes 10-Year Mine Life

The company has made impressive strides in expanding its gold assets across both its Southern Goldfields and Murchison operations in Western Australia, demonstrating the substantial potential of its 3,200km² landholding.

"In FY25 Westgold invested $43M in resource development and exploration across our portfolio. This investment delivered significant growth in Group Mineral Resources, most notably with the maiden Fletcher Mineral Resource of 2.3 Moz, and a material uplift in Group Ore Reserves," said Westgold Managing Director and CEO Wayne Bramwell.

With current milling capacity of 5.7 million tonnes per annum, Westgold has established an estimated Reserve life of approximately 10 years, providing a long-term production platform for the company and its shareholders.

Southern Goldfields Delivers Breakthrough Fletcher Zone Discovery

The highlight of Westgold Resources gold portfolio expansion was the declaration of a 2.3 million ounce maiden Mineral Resource at the Fletcher Zone within its Beta Hunt operations in the Southern Goldfields. This significant discovery was a major contributor to the 72% increase in Mineral Resources at the company's Southern Goldfields operating mines post mining depletion.

High-grade intercepts at Fletcher included:

• 27.0m at 4.24g/t Au
• 30.0m at 2.03g/t Au
• 10.0m at 4.48g/t Au

Murchison Growth Centers on Bluebird and Starlight

Westgold's Murchison operations also delivered impressive resource growth, with:

• Bluebird-South Junction Mineral Resource growing to 1.3 million ounces (up 35% year-on-year after mining depletion)
• Starlight's Mineral Resource expanding to 866,000 ounces (a 46% increase post-depletion)

These expansions translated into substantial Ore Reserve increases, with:

• Bluebird-South Junction Ore Reserves up 90% to 528,000 ounces
• Starlight Ore Reserves up 94% to 250,000 ounces

Understanding Mineral Resources vs. Ore Reserves

Mineral Resources represent the total estimated gold contained in the ground based on drilling and geological interpretation. These resources are classified according to the level of geological confidence, with Measured and Indicated categories having higher confidence than Inferred resources.

Ore Reserves, on the other hand, are the economically mineable portion of those resources after applying various technical and economic factors. These factors include mining methods, processing costs, metallurgical recovery, and current gold price assumptions.

The significant conversion of Resources to Reserves in the Westgold Resources gold portfolio expansion demonstrates the economic viability of the company's gold deposits and provides increased confidence in the production pipeline.

Strategic Infrastructure Development Supports Long-Term Growth

Westgold's resource growth comes alongside strategic investments in critical mine infrastructure across its operations. According to Bramwell, "This investment has now established a sustainable platform for long term cashflow generation over a 10-year Group Ore Reserve life."

The combination of expanded resources and upgraded infrastructure positions the company for sustainable long-term production. This integrated approach ensures that Westgold can efficiently extract value from its growing resource base.

Drilling Campaign Set to Continue

With nineteen drill rigs currently operating across its portfolio, Westgold is committed to further exploration success, with plans to invest $50 million in exploration and resource development in FY26.

"Westgold will continue to drill and invest in organic growth through exploration, resource definition and Mineral Resource conversion across our portfolio. We unlocked value for our shareholders and stakeholders in FY25 and are confident in our team's ability to create additional value from two of Western Australia's most productive goldfields," Bramwell stated.

The Westgold Resources gold portfolio expansion demonstrates the company's commitment to organic growth through systematic exploration and development of its extensive landholdings. This approach is similar to how Austin Metals identified new gold targets along strike from their high-grade discovery.

Why Investors Should Pay Attention

Westgold Resources has significantly strengthened its position as a major gold producer in Western Australia through strategic exploration and development investments. The company offers investors:

1. Resource Growth Momentum: A 24% increase in Mineral Resources to 16.3Moz demonstrates exceptional exploration success

2. Production Longevity: With a 10-year Reserve life, the company has established a foundation for sustainable production

3. Value Creation Pipeline: Continued investment of $50M in FY26 exploration supports ongoing growth, following a similar strategy to how Matsa Resources hits high-grade gold at their Fortitude North Project

4. Operational Diversity: Multiple production centers across two of Western Australia's most productive goldfields, complementing how Mithril Silver and Gold hits exceptional grades at La Soledad

5. Strong Management Execution: Successfully delivering on exploration strategy while maintaining production

For investors seeking exposure to the gold sector with both immediate production and significant growth potential, Westgold Resources gold portfolio expansion presents a compelling opportunity backed by substantial resource growth and a clear pathway to production growth. Additionally, the recent high priority gold targets identified by Austin Metals and promising gold-silver veining intercepted by Sunshine Metals at Tigertown demonstrate the broader opportunity in the Australian gold sector.

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