• Maiden underground Mineral Resource Estimate for Toega delivers 4.9 Mt at 3.5 g/t for 560koz gold
• Toega underground scoping study results in 515koz gold added to Toega life-of-mine production over 7 year mine life
• Combination of Toega underground and secondary crushing at Sanbrado has potential to increase Sanbrado annual gold production by approximately 50% to around 300koz per year

West African Resources Limited (WAF) is pleased to report positive results of resource estimation and scoping studies for a potential underground development beneath the Toega open pit at its Sanbrado gold production centre in Burkina Faso. The company has delivered a maiden underground Mineral Resource Estimate for Toega of 4.9 Mt at 3.5 g/t for 560koz gold. The Toega underground scoping study results summary includes an average of 81koz per annum in gold production in years 2 to 6, 515koz gold added to Toega life-of-mine production over a 7 year mine life, and a pre-production capital expenditure estimate of US$42 million. The Toega resource remains open at depth and the company plans infill and extensional drilling to increase resource category and endowment. WAF has also commenced studies investigating adding secondary crushing at Sanbrado to increase hard rock throughput, with the combination of Toega underground and secondary crushing having the potential to increase Sanbrado's annual gold production by approximately 50% to around 300koz per year.

The Toega underground scoping study results in 515koz gold added to Toega life-of-mine production over a 7 year mine life, with an average of 81koz per annum in gold production in years 2 to 6.

WAF plans to integrate the Toega underground scoping study results into its upcoming 2025 10-year production plan, targeting higher grade underground feed from Toega to displace lower grade open-pit material with the aim of increasing overall gold production from the Sanbrado process plant. The company also plans to continue work on the proposed underground development at Toega, including infill and extensional drilling programs, geotechnical and metallurgical studies, evaluation of owner-operated mining and further optimisation of mine design and scheduling.