2026 mineral resource estimate and ore reserves

Canada NewsWire

Ore Reserve ounces up 41%, grade up 15% - at a Reserve addition cost of $27/oz

PERTH, Australia , Aug. 19, 2026 /CNW/ -- Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company) is pleased to provide its updated Mineral Resource Estimate and Ore Reserve Statement, calculated as at 30 June 2026.

Highlights

41% increase in Ore Reserve to 4.1Moz, post mining depletion and adjusting for non-core asset divestment – achieved at a modest reserve addition investment of just $27/oz.

15% increase in Ore Reserve grade to 2.22g/t (FY25: 1.93g/t) – marking the third consecutive year of Reserve growth after mining depletion.

8% growth in Mineral Resource to 14.4Moz – after adjusting for non-core asset divestments of 3Moz 1 .

Mineral Resource grade increased to 2.30g/t (FY25: 2.18g/t) and Measured and Indicated Resources increasing to 62.6% of total Resource inventory (FY25: 56.6%)

Circa 10 year Reserve life maintained – approximately 10 years of Reserve inventory at current Group installed processing capacity.

26 drill rigs operating across portfolio – on surface and underground supporting resource growth and conversion activities.

$50–75M 2 planned investment in FY27 exploration and resource development drilling – targeting both near-term Reserve growth opportunities and medium term organic growth options.

Westgold Managing Director and CEO Wayne Bramwell commented:

"Westgold's FY26 Mineral Resources and Ore Reserves statement reflects the quality of the asset base and the breadth of our portfolio. Focused capital allocation into our largest mines continues to deliver material value, with FY26 marking a third consecutive year of Ore Reserve growth.

Importantly, Group Mineral Resources increased by 8% after adjusting the prior-year comparative for the divestment of non-core assets 1 . This demonstrates the organic growth potential of our core assets within th