• WAF held discussions with Burkina Faso Government to advance and promote sustainable growth of the country's gold mining industry
• WAF submitted a proposal to increase national participation and Government revenue from new and previously closed mining projects
• Discussions focused on Kiaka project, while Sanbrado and Toega operations remain unaffected

West African Resources Limited ('WAF') advises that, following the Burkina Faso Government's request to acquire an additional equity interest in Kiaka SA, it has held discussions with the Government aimed at advancing and promoting the long-term sustainable growth of the country's gold mining industry. WAF is pleased to advise the Government has shown its support of WAF by affirming in these discussions its commitment to reaching an outcome that respects the legitimate interests of all parties. WAF submitted a proposal to the Government to increase both national participation and Government revenue from the development of new and previously closed mining projects in Burkina Faso, as an alternative to purchasing a further equity interest in the Kiaka project. The Minister for Mines of Burkina Faso invited WAF to continue the discussions with the Government's legal entity, Société de Participation Minière du Burkina Faso (SOPAMIB). WAF Executive Chairman and CEO Richard Hyde recently returned from Burkina Faso, where he assisted in advancing the discussions through meetings with Government representatives, including the Minister for Mines, Minister for Finance and the Directeur Général of SOPAMIB. WAF will continue to engage constructively with SOPAMIB to identify mining investment opportunities that promote national participation, create jobs, deliver greater social benefits, and unlock the value of Burkina Faso's mineral resources. WAF will also work cooperatively with SOPAMIB regarding the Government's request to acquire an additional equity interest Kiaka SA, in a manner that respects the financial interests of existing shareholders and lenders. Operations at Sanbrado and Kiaka have remained unaffected throughout this engagement with the Government.

WAF will continue to engage constructively with SOPAMIB to identify mining investment opportunities that promote national participation, create jobs, deliver greater social benefits, and unlock the value of Burkina Faso's mineral resources.