Name of the Project
Kokoseb gold project.

Location
Erongo region, Namibia.

Project Owner/s
The project is a joint venture between Wia Gold (80%) and Namibia’s State-owned Epangelo Mining Company.

Project Description
The Kokoseb mine will be Wia Gold’s fourth modern gold mine. The project is underpinned by a growing mineral resource of 2.93-million ounces, including 1.81-million ounces in the indicated category at a 0.5 g/t cutoff. This resource converts to a production target of 58.9-million tonnes at 0.97 g/t gold-containing 1.83-million ounces, of which only 6% is from the inferred mineral resources during the first seven years of production.

The project will encompass an opencut mine, a 5.2-million-tonne-a-year carbon-in-leach processing facility, water supply from known water supply schemes in the area, low-cost power from the Namibian grid, a tailings storage facility and associated infrastructure.

Gold production will average of 177 000 oz/y over the first five years of operations and 146 000 oz/y over the more than 11-year life-of-mine. Total LoM production is estimated 1.65-million ounces.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate of, $1.01-billion and an internal rate of return 48% using a base case gold price of $2 600/oz. The project has an after-tax payback of 1.8 years.

Capital Expenditure
Preproduction capital costs are estimated at $358.8-million.

Planned Start/End Date
A definitive feasibility study is under way, with completion expected in the second half of 2026.

Latest Developments
Wia Gold has released assay results from 19 819 m of recent drilling.

Results from 29 diamond drillholes have identified a new high-grade mineralised horizon beneath the Central zone and extended high-grade mineralisation beyond the current openpit mineral resource estimate. They also further demonstrate the continuity, scale and robustness of the project’s high-grade plunging shoots.

A further ten reverse circulation holes have been completed, comprising eight infill holes in the openpit area and two holes below the scoping study pits in the Southern zone. The results have validated the internal continuity of the mineralisation.

Assay results from the 39 holes have also identified a new high-grade target in the Central zone, supporting the project’s potential for underground resource growth.

Significant intersections include 9 m grading 10.64 g/t gold from 811 m, including 4 m grading 22.76 g/t, in hole KDD147; and 9 m grading 2.24 g/t gold from 801 m, including 3 m grading 3.18 g/t, in hole KDD137.

Wia has also reported strong continuity within the high-grade plunging shoots in the Central and Southern zones, as well as at the Western zone deep target.

An updated mineral resource estimate, incorporating all historical sampling and the latest drilling results, is being calculated.

Meanwhile, the Kokoseb definitive feasibility study remains on schedule for completion in the third quarter of 2026.

Six diamond drill rigs are continuing definition drilling of the high-grade zones to support the delineation of future underground resources.

Wia MD and CEO Henk Diederichs has said the discovery of a new high-grade target beneath the Central zone, together with the strong continuity demonstrated within the existing high-grade shoots in the Central and Southern zones, further strengthens Kokoseb’s underground potential.

Mineralisation has now been extended over 580 m of strike below the scoping study pit shell, with both high-grade shoots remaining open at depth.

Key Contracts, Suppliers and Consultants
None disclosed.

Contact Details for Project Information
Wia Gold, tel +61 8 6288 4252 or email info@wiagold.com.au.