• No significant social, health or safety incidents
• Q1 gold production of 107,728 oz at AISC of US$1,921/oz
• Updated Mineral Resources, Ore Reserves and 10-year production outlook released

West African Resources Limited (ASX: WAF) reported a record high cash balance of A$847 million for the quarter ended 31 March 2026. The company achieved gold production of 107,728 oz at an AISC of US$1,921/oz and gold sales of 104,145 oz at a realised price of US$4,945/oz. WAF's Sanbrado and Kiaka gold production centres in Burkina Faso continued to perform strongly, with Sanbrado producing 42,024 oz and Kiaka producing 65,704 oz. The company also released an updated Mineral Resources, Ore Reserves and 10-year production outlook, which showed increases in Ore Reserves to 7 Moz gold and Mineral Resources to 13.7 Moz gold, with a 10-year gold production target of 5.3 Moz from 2026 to 2035 and annual gold production peaking at 596,000 oz in 2030.

WAF is on-track to achieve annual production guidance of 430,000 - 490,000 ounces of gold at an AISC below US$1,900/oz in 2026.

WAF is on an exciting growth trajectory, with a US$20 million exploration budget and more than 100,000 metres of drilling planned at its Sanbrado and Kiaka production centres and surrounding exploration areas in 2026.