Press Release

2 December 2020

WAF intercepts 6m at 20.6 g/t gold and 6.5m at 16.1 g/t gold
beneath reserves at M1 South
Unhedged gold mining company West African Resources Limited (‘West African’ or the ‘Company’, ASX:
WAF) is pleased to report high grades and extensive visible gold have been intercepted in the deep
diamond drilling beneath reserves at the M1 South deposit, Sanbrado Gold Project, Burkina Faso.

Highlights
 Deep diamond drilling beneath reserves at M1 South returns high grade results including;
­ 6m at 20.5 g/t gold from 1211.5m including;
­ 0.5m at 167 g/t gold
­ 6.5m at 16.1 g/t gold from 1230m including;
­ 0.5m at 124 g/t gold
 Intercepts greater than 900m below surface, more than 400m beneath current Probable Ore Reserves
 Strengthens potential to extend the M1 South underground mine life
 Drilling ongoing with two rigs on site

West African Executive Chairman Richard Hyde commented:

“Further high-grade gold mineralisation has been intercepted at M1 South with results of 6.5m at 16.1 g/t
gold and 6m at 20.5 g/t gold approximately 950 vertical metres below surface and more than 400m below
current ore reserves.”

“The new results are along strike from TAN20-DD235 which returned 7m at 20 g/t gold in Q3 this year.
High grade mineralisation is open along strike to the southeast, northwest and remains open at depth.”

“Two drill holes are in progress at 330m and 980m respectively and need to be completed and assayed
before resources can be updated for M1 South. Reporting of resources, reserves and the life of mine
production profile for Sanbrado originally scheduled for release in Q4 2020, will now be released in Q1 2021
to allow the current drilling program to be completed and any further results to be included.”

Photo 1: Visible gold grading 124 g/t at 1236m down hole in TAN20-DD239

Principal Office: Level 1, 1 Alvan Street, Subiaco WA 6008, Australia

T: + 61 8 9481 7344 F: + 61 8 9481 7355 E: [email protected] www.westafricanresources.com ACN: 121 539 375
 West African Resources Limited

Drilling Results
Deep drilling at the M1 South Deposit has further intercepted high-grade gold and has extended the depth
of known mineralisation greater than 900m below surface, and more than 400m below the current
underground Ore Reserve (Figure 1 and Photo 1). Drill hole TAN20-DD238 has closed off mineralisation
on the north-western boundary of mineralisation at approximately 600m below surface. Drill holes
TAN20-DD237 and TAN20-DD239 have extended mineralisation 40m and 80m, respectively, to the
northwest of TAN20-DD235 at more than 900m vertical. Mineralisation currently remains open to the
southeast and northwest and at depth. Recent drilling results beneath the M1 South Probable Ore Reserve
include;

 TAN20-DD237: 6.5m at 16.1 g/t gold from 1230m including;

­ 0.5m at 124 g/t gold from 1236m
 TAN20-DD238: 4.5m at 2.1 g/t gold from 831.5m including;
­ 0.5m at 9 g/t from 853m
 TAN20-DD239: 6m at 20.6 g/t gold from 1211.5m including;
­ 0.5m at 167 g/t gold from 1214.5m

New drilling has reinforced WAF’s geological model for M1 South and confirmed the predictable geometry
of the main high-grade gold zone more than 900m below surface. A summary of previously reported
drilling intercepts beneath the M1 South Probable Ore Reserve is presented below;

 TAN18-DD228: 25m at 15 g/t gold from 862m including;

­ 5.5m at 40.4 g/t gold from 863.5m
 TAN20-DD233: 32m at 4.9 g/t gold from 854.5m including;
­ 4m at 14.3 g/t gold from 856.5m and,
­ 4.5m at 18.7 g/t gold from 883m
 TAN20-DD234: 0.5m at 23.9 g/t gold from 842.5m
 TAN20-DD235: 7m at 20 g/t gold from 1238m including;
­ 1m at 71.8 g/t gold from 1238m
 TAN20-DD236: 15.5m at 20.5 g/t gold from 852m including;
­ 5m at 52.2 g/t gold from 854m and,
­ 4m at 10.4 g/t gold from 863.5m

Following the last drilling release (ASX: 30/9/2020) TAN20-DD235, which ended in low grade
mineralisation, was re-entered and extended a further 62.2m to 1323.5m. The whole interval was check
assayed using 50g Fire Assay with a gravimetric finish and returned 7m at 20 g/t gold from 1238m. A
further two deep holes are currently in progress at down hole depths of 980m (TAN20-DD240) and 330m
(TAN20-DD241) to the southeast and northwest, respectively, which will be completed and assessed
before geological models and resources are updated for M1 South, and a decision is made whether further
drilling will be undertaken to close off mineralisation.

Reporting of resources, reserves, and the updated life of mine production profile for Sanbrado, originally
scheduled for release in Q4 2020, will now be released in Q1 2021 to allow the current drilling program to
be completed and any further results to be assessed and incorporated into the resource estimates. A long
section and summary of all results beneath the ore reserves at M1 South are presented below in Figure 1
and Table 1.

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 West African Resources Limited

Figure 1: M1 South Long-section

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 West African Resources Limited

Figure 2: Sanbrado Gold Project Site Layout

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 West African Resources Limited

Table 1
M1 South Deposit Drilling Beneath Ore Reserves
Significant Intercepts
Hole ID From To Interval Au g/t Depth BSL (m) Dip Azi EOH (m) Easting Northing RL
TAN18-DD228 862.0 887.0 25.0 15.0 642 -55 230 1000.8 742050 1337471 302
including 863.5 869.0 5.5 40.4
TAN20-DD233 854.5 887.5 33.0 4.9 639 -60 233 952 742022 1337500 301
including 856.5 860.5 4.0 14.3
and 883.0 887.5 4.5 18.7
TAN20-DD234 842.5 843.0 0.5 23.9 631 -60 224 985.2 742078 1337443 300
TAN20-DD235 1238.0 1245.0 7.0 20.0 953 -65 220 1261.3 742169 1337641 302
including 1238.0 1239.0 1.0 71.8
TAN20-DD236 852.0 867.5 15.5 20.5 636.0 -60 225 924.5 741994 1337528 301
including 854.0 859.0 5.0 52.2
and 863.5 867.5 4.0 10.4
TAN20-DD237 1165 1166 1 8.5 -62 219 1321 742137 1337663 298
TAN20-DD237 1170 1171 1 12.5
TAN20-DD237 1230 1236.5 6.5 16.1 966
including 1236 1236.5 0.5 124
TAN20-DD238 815 820 5 1.4 -60 222 964 741965 1337556 303
TAN20-DD238 831.5 832 0.5 7.2
TAN20-DD238 849.5 854 4.5 2.1 642
TAN20-DD239 1178.5 1182.5 4 3.4 -65 222 1342 742113 1337698 302
TAN20-DD239 1188 1192 4 1.8
including 1190 1190.5 0.5 10.1
TAN20-DD239 1211.5 1217.5 6 20.6 942
including 1214.5 1215 0.5 167
TAN20-DD240 In progress -64 222 1300 742187 1337602 302
TAN20-DD241 In progress -64 220 1300 742077 1337726 298

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 West African Resources Limited

Competent Persons Statement

Information in this announcement that relates to exploration results, exploration targets or mineral resources is based on
information compiled by Mr Richard Hyde, a Director, who is a Member of The Australian Institute of Mining and Metallurgy and
Australian Institute of Geoscientists. Mr Hyde 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 (the JORC Code) and a
Qualified Person under National Instrument 43-101. Mr Hyde consents to the inclusion in this announcement of the statements
based on his information in the form and context in which they appear.

Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian and Australian securities
legislation, including information relating to West African's future financial or operating performance that may be deemed
“forward looking”. All statements in this news release, other than statements of historical fact, that address events or
developments that West African expects to occur, are “forward-looking statements”. Forward-looking statements are statements
that are not historical facts and are generally, but not always, identified by the words “expects”, “does not expect”, “plans”,
“anticipates”, “does not anticipate”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled”, “forecast”, “budget”
and similar expressions, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-
looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made
and are subject to important risk factors and uncertainties, many of which are beyond West African’s ability to control or predict.
Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and
unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be
materially different from those expressed or implied by such forward-looking statements.

In the case of West African Resources Ltd, these facts include their anticipated operations in future periods, the expected
enhancement to project economics following optimisation studies, planned exploration and development of its properties, and
plans related to its business and other matters that may occur in the future, including the availability of future funding for the
development of the project. This information relates to analyses and other information that is based on expectations of future
performance and planned work programs. Statements concerning mineral resource and ore reserve estimates may also be
deemed to constitute forward-looking information to the extent that they involve estimates of the mineralisation that will be
encountered if a mineral property is developed.

As well, all of the results of the feasibility study constitute forward-looking information, including estimates of internal rates of
return, net present value, future production, estimates of cash cost, assumed long term price for gold, proposed mining plans and
methods, mine life estimates, cashflow forecasts, metal recoveries, and estimates of capital and operating costs. Furthermore,
with respect to this specific forward-looking information concerning the development of the Sanbrado Gold Project, the company
has based its assumptions and analysis on certain factors that are inherently uncertain. Uncertainties include among others:

i. the adequacy of infrastructure;

ii. unforeseen changes in geological characteristics;
iii. metallurgical characteristics of the mineralization;
iv. the price of gold;
v. the availability of equipment and facilities necessary to complete development and commence operations;
vi. the cost of consumables and mining and processing equipment;
vii. unforeseen technological and engineering problems;
viii. accidents or acts of sabotage or terrorism;
ix. currency fluctuations;
x. changes in laws or regulations;
xi. the availability and productivity of skilled labour;
xii. the regulation of the mining industry by various governmental agencies;
xiii. political factors; and
xiv. global pandemics.

This release also contains references to estimates of Mineral Resources and Mineral Reserves. The estimation of Mineral
Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not
Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity
and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation
(including estimated future production from the project, the anticipated tonnages and grades that will be mined and the estimated
level of recovery that will be realized), which may prove to be unreliable and depend, to a certain extent, upon the analysis of
drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource estimates may have to be
re-estimated based on:

i. fluctuations in gold price;

ii. results of drilling;

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 West African Resources Limited

iii. metallurgical testing and other studies;

iv. proposed mining operations, including dilution;
v. the evaluation of mine plans subsequent to the date of any estimates; and
vi. the possible failure to receive, or changes in, required permits, approvals and licenses.

Mineral Reserves are also disclosed in this release. Mineral Reserves are those portions of Mineral Resources that have
demonstrated economic viability after taking into account all mining factors. Mineral Reserves may, in the future, cease to be a
Mineral Reserve if economic viability can no longer be demonstrated because of, among other things, adverse changes in
commodity prices, changes in law or regulation or changes to mine plans. Due to rounding, numbers presented throughout this
and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute
figures.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause
actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation:
exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in West
African’s ability to obtain funding; gold price fluctuations; recent market events and conditions; risks related to the uncertainty of
mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks related to
governmental regulations; risks related to obtaining necessary licenses and permits; risks related to their business being subject
to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements,
transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and
technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability
to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural
resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect West
African’s forward-looking information. Should one or more of these risks and uncertainties materialise, or should underlying
assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information.

West African’s forward-looking information is based on the reasonable beliefs, expectations and opinions of their respective
management on the date the statements are made and West African does not assume any obligation to update forward looking
information if circumstances or management’s beliefs, expectations or opinions change, except as required by law. For the
reasons set forth above, investors should not place undue reliance on forward-looking information. For a complete discussion
with respect to West African, please refer to West African’s website www.westafricanresources.com, financial statements and
other filings all of which are filed on the ASX.

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 West African Resources Limited

JORC Table 1, Sections 1-2

JORC 2012 Table 1: Section 1 Sampling Techniques and Data

Criteria JORC Code Explanation Commentary

Sampling  Nature and quality of sampling (e.g. cut channels, random  The area of the M1 South resource was drilled using Reverse
Techniques chips, or specific specialised industry standard Circulation (RC), Aircore (AC) and Diamond drillholes (DD) on a
measurement tools appropriate to the minerals under nominal 25m x 20m grid spacing. A total of 397 AC holes (7,480m),
investigation, such as downhole gamma sondes, or 140 DC and DT holes (36,804m) and 267 RC holes (28,003m) were
handheld XRF instruments, etc.). These examples should drilled by WAF between 2015 and 2018. Holes were angled
not be taken as limiting the broad meaning of sampling. towards 020°, 045°, 180°or 225° magnetic at declinations of
 Include reference to measures taken to ensure sample between -50° and -60°, to optimally intersect the mineralised zones.
representivity and the appropriate calibration of any  The 2020 deep diamond drilling program has been drilled to
measurement tools or systems used. intercept the mineralised zone at 40m spacings at 600m below
 Aspects of the determination of mineralisation that are surface and 900m below surface. A total of 10 diamond holes
Material to the Public Report. In cases where ‘industry (10,000m) have been planned with the aim of extending
standard’ work has been done this would be relatively mineralisation to more than 900m vertical. Holes were angled
simple (e.g. ‘reverse circulation drilling was used to obtain towards 225° magnetic at declinations of between -50° and -60°, to
1m samples from which 3kg was pulverised to produce a optimally intersect the mineralised zones.
30g charge for fire assay’). In other cases more explanation  Diamond core is a combination of HQ, NQ2 and NQ3 sizes and all
may be required, such as where there is coarse gold that Diamond core was logged for lithological, alteration, geotechnical,
has inherent sampling problems. Unusual commodities or density and other attributes. In addition, WAF Diamond core was
mineralisation types (e.g. submarine nodules) may warrant logged for structural attributes. Half-core sampling was completed
disclosure of detailed information. at 0.5m and 1m intervals. QAQC procedures were completed as per
industry standard practices (i.e., certified standards, blanks and
duplicate sampling were sent with laboratory sample dispatches).
 Samples were dispatched to SGS Burkina Faso SA (SGS) in
Ouagadougou. The diamond core samples were crushed, dried and
pulverised (total prep) to produce a sub sample for analysis for gold
by 50g standard fire assay method (FA) followed by an atomic
absorption spectrometry (AAS) finish. Samples that returned results
over 5 g/t Au were check using 50g standard fire assay method (FA)
followed gravimetric finish .
Drilling  Drill type (e.g. core, reverse circulation, open-hole hammer,  Diamond drilling in the area comprises NQ2, NQ3 or HQ sized core.
Techniques rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. RC depths range from 13m to 204m and DD depths range from
core diameter, triple or standard tube, depth of diamond 49.5m to 1,342m. Diamond core was oriented using Reflex ACT II
tails, face-sampling bit or other type, whether core is system and Coretell© ORIshot orientation system.
oriented and if so, by what method, etc.).
Drill Sample  Method of recording and assessing core and chip sample  Diamond core and RC recoveries are logged and recorded in the
Recovery recoveries and results assessed. database. Overall recoveries are >90% for the diamond core and
 Measures taken to maximise sample recovery and ensure >70% for the RC; there are no core loss issues or significant sample
representative nature of the samples. recovery problems. A technician is always present at the rig to
monitor and record recovery.
 Whether a relationship exists between sample recovery and
grade and whether sample bias may have occurred due to  Diamond core is reconstructed into continuous runs on an angle iron
preferential loss/gain of fine/coarse material. cradle for orientation marking. Depths are checked against the
depth given on the core blocks and rod counts are routinely carried
out by the drillers.
 The resource is defined by DD and RC drilling, which have high
sample recoveries. No relationship between sample recovery and
grade have been identified at the project. The consistency of the
mineralised intervals and density of drilling is considered to
preclude any issue of sample bias due to material loss or gain.
Logging  Whether core and chip samples have been geologically and  Geotechnical logging was carried out on all diamond drillholes for
geotechnically logged to a level of detail to support recovery, RQD and number of defects (per interval). Information on
appropriate Mineral Resource estimation, mining studies structure type, dip, dip direction, alpha angle, beta angle, texture,
and metallurgical studies. shape, roughness and fill material is stored in the
 Whether logging is qualitative or quantitative in nature. structure/geotechnical table of the database.
Core (or costean, channel, etc.) photography.  Logging of diamond core and RC samples recorded lithology,
 The total length and percentage of the relevant mineralogy, mineralisation, structural, weathering, alteration,
intersections logged. colour and other features of the samples. Core was photographed
in both dry and wet form.
 All drilling has been logged to standard that is appropriate for the
category of Resource which is being reported.
Sub-Sampling  If core, whether cut or sawn and whether quarter, half or all  Core was cut in half onsite using a CM core cutter. All samples were
Techniques and core taken. collected from the same side of the core.
Sample
 If non-core, whether riffled, tube sampled, rotary split, etc.  RC samples were collected on the rig using a three tier splitter. All
Preparation
and whether sampled wet or dry. samples were dry.
 For all sample types, the nature, quality and  The sample preparation for all samples follows industry standard
appropriateness of the sample preparation technique. practice. The samples were dispatched to the laboratory (as per
 Quality control procedures adopted for all sub-sampling section ‘Sampling Techniques’) where they were crushed, dried and
stages to maximise representivity of samples. pulverised to produce a sub sample for analysis. Sample

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Criteria JORC Code Explanation Commentary

 Measures taken to ensure that the sampling is preparation involved oven drying, coarse crushing, followed by total
representative of the in situ material collected, including for pulverisation LM2 grinding mills to a grind size of 90% passing 75
instance results for field duplicate/second-half sampling. microns.
 Whether sample sizes are appropriate to the grain size of  Field QC procedures involve the use of certified reference material
the material being sampled. as assay standards, blanks and duplicates. The insertion rate of
these averaged 3:20.
 Field duplicates were taken on 1m and 2m composites for WAF and
CHU RC samples respectively, using a riffle splitter.
 The sample sizes are considered to be appropriate to correctly
represent the style of mineralisation, the thickness and consistency
of the intersections.
Quality of Assay  The nature, quality and appropriateness of the assaying and  The laboratory used an aqua regia digest followed by fire assay
Data and laboratory procedures used and whether the technique is with an AAS finish for gold analysis.
Laboratory Tests considered partial or total.  No geophysical tools were used to determine any element
 For geophysical tools, spectrometers, handheld XRF concentrations used in this Resource Estimate.
instruments, etc., the parameters used in determining the  Sample preparation checks for fineness were carried out by the
analysis including instrument make and model, reading laboratory as part of their internal procedures to ensure the grind
times, calibrations factors applied and their derivation, etc. size of 90% passing 75 micron was being attained. Laboratory
 Nature of quality control procedures adopted QAQC involves the use of internal lab standards using certified
(e.g. standards, blanks, duplicates, external laboratory reference material, blanks, splits and duplicates as part of the in
checks) and whether acceptable levels of accuracy (i.e. lack house procedures. Certified reference materials, having a good
of bias) and precision have been established. range of values, were inserted blindly and randomly. Results
highlight that sample assay values are accurate and that
contamination has been contained.
 Repeat or duplicate analysis for samples reveals that precision of
samples is within acceptable limits. For Diamond core, one blank
and one standard is inserted every 18 core samples and no
duplicates. For RC samples, one blank, one standard and one
duplicate is inserted every 17 samples.
Verification of  The verification of significant intersections by either  The CP has visually verified significant intersections in diamond
Sampling and independent or alternative company personnel. core and RC drilling as part of the Resource Estimation process.
Assaying
 The use of twinned holes.  Six RC holes and one diamond hole were twinned by diamond
 Documentation of primary data, data entry procedures, holes (2 drilled by WAF, 5 by CHU) for the M5 prospect. Four RC
data verification, data storage (physical and electronic) holes were twinned by RC holes and two further RC holes were
protocols. twinned by diamond holes (all drilled by WAF) at the M1
prospect. Results returned from the twins were consistent with
 Discuss any adjustment to assay data. original holes.
 Primary data was collected using a set of company standard
Excel™ templates on Toughbook™ laptop computers using lookup
codes. The information was validated on-site by the Company’s
database technicians and then merged and validated into a final
AccessTM database by the company’s database manager.
 The results confirmed the initial intersection geology.
 No adjustments or calibrations were made to any assay data used
in this estimate.
Location of Data  Accuracy and quality of surveys used to locate drillholes  All drillholes have been located by DGPS in UTM grid WGS84
Points (collar and down-hole surveys), trenches, mine workings Z30N. WAF DD downhole surveys were completed at least every
and other locations used in Mineral Resource estimation. 24m and at the end of hole using a Reflex downhole survey tool.
 Specification of the grid system used. CHU DD downhole surveys were completed every 3m with a
Reflex EZ-Trac survey tool and CHU RC holes were surveyed every
 Quality and adequacy of topographic control. 5m using a GYRO Smart survey instrument.
 The grid UTM Zone 30 WGS 84 was used. A local grid orientated
parallel to the strike of Mankarga (bearing 030 UTM) has recently
been implemented and will be used for future work
 Ground DGPS, Real time topographical survey and a drone survey
was used for topographic control.
Data Spacing and  Data spacing for reporting of Exploration Results.  The nominal drillhole spacing is 50m (northeast) by 20m
Distribution (northwest) for the M5 prospect, 25m (northwest) by 20m
 Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity (northeast) for the M1 prospect.
appropriate for the Mineral Resource and Ore Reserve  The mineralised domains have demonstrated sufficient continuity
estimation procedure(s) and classifications applied. in both geology and grade to support the definition of Inferred
 Whether sample compositing has been applied. and Indicated Mineral Resources as per the guidelines of the 2012
JORC Code.
Orientation of  Whether the orientation of sampling achieves unbiased  The majority of the data is drilled to either magnetic 120° or 300°
Data in Relation sampling of possible structures and the extent to which this orientations for M5 and magnetic 045° or 225° orientations for
to Geological is known, considering the deposit type. M1 and M3, which is orthogonal/perpendicular to the orientation
Structure of the mineralised trend. The bulk of the drilling is almost
 If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to perpendicular to the mineralised domains. Structural logging

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Criteria JORC Code Explanation Commentary

have introduced a sampling bias, this should be assessed based on oriented core indicates that the main mineralisation
and reported if material. controls are largely perpendicular to drill direction.
 No orientation based sampling bias has been identified in the
data at this point.
Sample Security  The measures taken to ensure sample security.  Chain of custody is managed by WAF. Samples are stored on site
and delivered by WAF personnel to SGS Ouagadougou for sample
preparation. Whilst in storage, they are kept under guard in a
locked yard. Tracking sheets are used to track the progress of
batches of samples.
Audits or Reviews  The results of any audits or reviews of sampling techniques  WAF completed Definitive Feasibility Status the report is located
and data. on the company’s website titled 22 May 2019 NI 43-101
Technical Report Open Pit and Underground Feasibility Study
Update, Sanbrado Gold Project, Burkina Faso. West African
poured first gold at Sanbrado on the 19th of March 2020, ahead
of schedule and under budget.

Section 2 Reporting of Exploration Results

Criteria JORC Code Explanation Commentary

Mineral Tenement  Type, reference name/number, location and ownership  In October 2015, the Company applied for the Sanbrado Mining
and Land Tenure including agreements or material issues with third parties license which covers the south eastern corner of the Tanlouka
Status such as joint ventures, partnerships, overriding royalties, permit over a 26km² area. The Sanbrado Mining Permit
native title interests, historical sites, wilderness or national application was granted by the Council of Ministers in January
park and environmental settings. 2017. Furthermore, the Company also applied for the Manesse
 The security of the tenure held at the time of reporting permis de recherche which covers the residual area of the expired
along with any known impediments to obtaining a licence to Tanlouka permit; this permit was granted in January 2017 (Arrêté
operate in the area. No 7/014/MEMC/SG/DGCMIM). The Sanbrado Mining Permit
was issued by ministerial decree on March 2017 No 2017 –
104/PRES/PM/MEMC/MINEFID/MEEVCC. An updated Mining
Permit was issued in June 2018 incorporating changes to mining
and processing (open pit and underground mining, and CIL
processing) from the original permit.
 All licences, permits and claims are granted for gold. All fees have
been paid, and the permits are valid and up to date with the
Burkinabe authorities. The payment of gross production royalties
is provided for by the Mining Code and the amount of royalty to
be paid is 3% up to $1000/oz, 4% up to $1300/oz and >$1300/oz
5%
Exploration Done  Acknowledgment and appraisal of exploration by other  Exploration activities have included geological mapping, rock and
by Other Parties parties. chip sampling, geophysical surveys, geochemical sampling and
drilling, both reverse circulation and core. This work was
undertaken by Channel Resources personnel and their
consultants from 1994 until 2012.
Geology  Deposit type, geological setting and style of mineralisation.  The project is located within a strongly arcuate volcano-
sedimentary northeast-trending belt that is bounded to the east
by the Tiébélé-Dori-Markoye Fault, one of the two major
structures subdividing Burkina Faso into three litho-tectonic
domains. The geology of the Tanlouka area is characterised by
metasedimentary and volcanosedimenatry rocks, intruded by
mafic, diorite and granodiorite intrusions. The Mankarga
prospect area is characterised by a sedimentary pile which is
mostly composed of undifferentiated pelitic and psammitic
metasediments as well as volcanosedimentary units. This pile has
been intruded by a variably porphyritic granodiorite, overprinted
by shearing and mylonites in places, and is generally parallel to
sub-parallel with the main shear orientation. In a more regional
context, the sedimentary pile appears “wedged” between
regional granites and granodiorites. The alteration mineralogy
varies from chloritic to siliceous, albitic, calcitic and sericite-
muscovite. Gold mineralisation in the project area is
mesothermal orogenic in origin and structurally controlled. The
project area is interpreted to host shear zone type quartz-vein
gold mineralisation. Observed gold mineralisation at the
Mankarga prospects appears associated with quartz vein and
veinlet arrays, silica, sulphide and carbonate-albite, tourmaline-
biotite alteration. Gold is free and is mainly associated with
pyrrhotite, pyrite, minor chalcopyrite and arsenopyrite
disseminations and stringers.

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 West African Resources Limited

Criteria JORC Code Explanation Commentary

Drillhole  A summary of all information material to the understanding  Significant intercepts that form the basis of this Resource
Information of the exploration results including a tabulation of the Estimate have been released to the ASX in previous
following information for all Material drillholes: announcements (available on the WAF website) with appropriate
 easting and northing of the drillhole collar tables incorporating Hole ID, Easting, Northing, Dip, Azimuth,
Depth and Assay Data. Appropriate maps and plans also
 elevation or RL (Reduced Level - elevation above sea level
accompany this Resource Estimate announcement.
in metres) of the drillhole collar
 A summary of all previous work is included in the Definitive
 dip and azimuth of the hole
Feasibility Status located on the company’s website titled 22 May
 downhole length and interception depth 2019 NI 43-101 Technical Report Open Pit and Underground
 hole length. Feasibility Study Update, Sanbrado Gold Project, Burkina Faso .
 If the exclusion of this information is justified on the basis  A complete listing of all drillhole details is not necessary for this
that the information is not Material and this exclusion does report which describes deep drilling on the M1 South deposit and
not detract from the understanding of the report, the in the Competent Person's opinion the exclusion of this data does
Competent Person should clearly explain why this is the not detract from the understanding of this report.
case.
Data Aggregation  In reporting Exploration Results, weighting averaging  All intersections are assayed on 0.5m and 1m intervals. No top
Methods techniques, maximum and/or minimum grade truncations cuts have been applied to exploration results. Mineralised
(e.g. cutting of high grades) and cutoff grades are usually intervals are reported with a maximum of 5m of internal dilution
Material and should be stated. of less than 0.5g/t Au. Mineralised intervals are reported on a
 Where aggregate intercepts incorporate short lengths of weighted average basis.
high grade results and longer lengths of low grade results,
the procedure used for such aggregation should be stated
and some typical examples of such aggregations should be
shown in detail.
 The assumptions used for any reporting of metal equivalent
values should be clearly stated.

Relationship  These relationships are particularly important in the  The orientation of the mineralised zone has been established and
Between reporting of Exploration Results. the majority of the drilling was planned in such a way as to
Mineralisation intersect mineralisation in a perpendicular manner or as close as
 If the geometry of the mineralisation with respect to the
Widths and practicable. Topographic limitations were evident for some holes
Intercept Lengths drillhole angle is known, its nature should be reported.
and these were drilled from less than ideal orientations.
 If it is not known and only the downhole lengths are However, where possible, earthworks were carried out in order to
reported, there should be a clear statement to this effect accomplish drill along optimum orientations.
(e.g. 'downhole length, true width not known').
Diagrams  Appropriate maps and sections (with scales) and tabulations  The appropriate plans and sections have been included in the
of intercepts should be included for any significant discovery body of this document.
being reported These should include, but not be limited to a
plan view of drillhole collar locations and appropriate
sectional views.
Balanced  Where comprehensive reporting of all Exploration Results is  All grades, high and low, are reported accurately with “from” and
Reporting not practicable, representative reporting of both low and “to” depths and “hole identification” shown.
high grades and/or widths should be practiced to avoid
misleading reporting of Exploration Results.
Other Substantive  Other exploration data, if meaningful and material, should  Detailed metallurgical test work has been carried out as part of
Exploration Data be reported including (but not limited to): geological the FS. Test work shows that the ore is amenable to conventional
observations; geophysical survey results; geochemical crushing, grinding and CIL processing. LOM recoveries have been
survey results; bulk samples – size and method of determined to be 92.9%
treatment; metallurgical test results; bulk density,
groundwater, geotechnical and rock characteristics;
potential deleterious or contaminating substances.
Further Work  The nature and scale of planned further work (e.g. tests for  A program of dedicated metallurgical and geotechnical drillholes
lateral extensions or depth extensions or large-scale step- has been completed. Some grade control pattern test work is
out drilling). planned prior to commencing mining.
 Diagrams clearly highlighting the areas of possible
extensions, including the main geological interpretations
and future drilling areas, provided this information is not
commercially sensitive.

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