• Unhedged Mineral Resources of 12.2 Million Ounces of Gold
• 4.8 Moz gold production from 2025 to 2034; 496koz average per annum from 2026 to 2034
• Annual gold production peaking at 569,000 oz in 2029

West African Resources Limited (WAF) is pleased to present its 2025 updated Resources, Reserves and 10-year production outlook for its Sanbrado Gold Operations, including the Toega Gold Deposit, and the Kiaka Gold Operation in Burkina Faso. WAF's Mineral Resources as at 31 December 2024 had decreased by 4% (500,000 oz) compared to the prior year, primarily due to mining depletion and revisions to the Toega and Kiaka deposits. WAF's Ore Reserves as at 31 December 2024 increased by 120,000 oz gold (2%) compared to the July 2024 Ore Reserve update, driven by additions at the M1 South Underground and M5 South Underground, offset by decreases at Kiaka. WAF's updated 10-year production target is set to average 480,000oz per annum from years 2025 to 2034, peaking at 569,000 oz in 2029. The increase is largely driven by the addition of the Toega underground and the planned installation of secondary crushing in 2029. The production target contains Inferred Mineral Resources, which have a low level of geological confidence.

WAF's updated 10-year production outlook will see 4.8 million ounces of gold produced over the next decade, with production set to peak in 2029 at 569,000 ounces of gold.