Mineral resource estimate and mineral reserves update

Canada NewsWire

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

PERTH, Australia , Aug. 20, 2026 /CNW/ -- Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company) is pleased to provide its updated Mineral Resource Estimate (MRE) and Mineral Reserve Statement, calculated as at 30 June 2026.

Highlights

41% increase in Proven and Probable Mineral 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 Proven and Probable Mineral Reserve grade to 2.22g/t (FY25: 1.93g/t) – marking the third consecutive year of Reserve growth after mining depletion.

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 Mineral 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 Mineral Reserve growth.

Importantly, Group Mineral Resources increased 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 the streamlined portfolio.

But we did not just grow our inventory in FY26; we improved its quality, with both Resource and Reserve grades increasing year-on-year while lifting Resource confidence