• No significant social, health or safety incidents
• Q2 gold production of 45,611 oz at AISC of US$1,492/oz
• Kiaka project poured first gold ahead of schedule and under budget

West African Resources Limited (ASX: WAF) reported its June 2025 quarterly activities. The company achieved no significant social, health or safety incidents during the quarter. Gold production at the Sanbrado operation was 45,611 oz at an AISC of US$1,492/oz. Sanbrado sold 49,840 oz of gold at an average price of US$3,282/oz, and the company remains unhedged. The Kiaka project poured first gold bars on 26 June 2025, ahead of schedule and under budget. Kiaka is now ramping up to full production, with grid power connection scheduled for Q3 2025. The company also reported resource definition drilling beneath the current ore reserves at M1 South underground, returning wide zones of high-grade mineralisation. WAF plans to release an updated Mineral Resource Estimate and Ore Reserves in Q3 2025. The Toega gold deposit resettlement program is progressing well, with over 95% of compensation paid to the Project Affected People. Construction of the ore haul road, water storage facility and other early works have commenced at Toega, with owner-operated open pit mining activities planned to start in Q4 2025.

WAF is on track to achieve its 2025 annual guidance of 190,000 to 210,000 oz of gold production at a site sustaining cost of less than US$1,350 per ounce.