Gold production Q1 — Mid-tiers

The SOMISA SA Sustainability team recently visited the Boudry Schools participating in a pilot school gardening program to monitor the progress of crops. The school garden program grew from the 2023 seasonal cowpea (black-eyed beans) cultivation initiative, which distributed cowpea seeds across 25 schools to support institutional feeding programs. Initially gardens were planted with trees that raised the nutritive value of the lunch programs, such as Moringa oleifera. Subsequently, gardens have been expanded to use the understory for growing crops. Not only do these crops supplement the lunch programs, but they also provide students with opportunities to learn about a multitude of environmental concepts such as soil quality, the water cycle and botany among others. Through the growth of this agricultural capacity, a variety of vegetables including tomatoes, onions, cabbage, lettuce, okra, eggplant, peppers and carrots have been harvested to aid the quantity and diversity of canteen meals. The West African Resources $WAF team has been actively involved with teachers, children and school committees to assist with technical training and hands-on support ensuring appropriate maintenance and monitoring of crop development. The project has resulted in improved school attendance, particularly where food support is a key factor in school participation.

On the 2nd of May Kiaka SA officially launched the D29 Road Project. The D29 Road Project is a collaboration between Kiaka SA, and administrative authorities from the Gogo, Pagomtoécé, Kopélin and Nagrigré communities. The project focuses on the rehabilitation of a 22 km stretch of road which is significant to the local economy and facilitates the transport of agricultural and market garden produce to urban markets and provides access for communities to health centres. This initiative will be project managed and financed by Kiaka SA, and aims to improve mobility, enhance safety and support local economic development. This initiative reinforces Kiaka’s commitment to projects that support sustainable infrastructure development in the communities in which we operate. $WAF

On the 24th of April, new community infrastructure projects were officially launched in the Gogo and Niaogho communes, strengthening access to early childhood education and primary healthcare for the host communities of the Kiaka Gold Production Centre. Within the Gogo commune, ground was broken for the construction of two additional classrooms, along with an administrative office, expanding the capacity of the local preschool to accommodate an additional 50 students. This 17 million CFA (~A$42,000) investment will support greater access to early childhood education in the local community. In Niaogho, 18 million CFA (~A$45,000) has been committed to upgrades at the Health and Promotion Centre (CSPS), which delivers essential primary, maternal and child healthcare services. Works include new equipment for the Chief Physician’s office and the construction of an incinerator to ensure the safe management of medical waste. West African Resources $WAF is proud to have partnered with one of its suppliers ORYX Burkina SA, along with local administrative and traditional authorities to support these essential health and education initiatives.

On the 3rd of May the team at Kiaka marked a significant milestone of 5,000,000 hours worked without a Lost Time Injury (LTI). This achievement reflects a consistent effort from all teams across the site to ensure that hazards are identified and controls are applied to keep everyone safe. The strong safety record at West African Resources $WAF is built upon proactive reporting, sustained operational discipline, and leadership in the field. Celebrations to mark this event included a large gathering of the workforce at the morning meeting in which safety values and performance were highlighted. This was followed by a group fitness session, marathon walk and safety demonstrations, along with obligatory cake cutting. The Kiaka team remain committed to the safety first, safety always mantra, focusing now on the next target of 10,000,000 LTI-free hours.

On Friday West African Resources $WAF held its Annual General Meeting at the Vibe Hotel Subiaco. Our Executive Chairman and CEO Richard Hyde is pictured providing an update to shareholders on our Sanbrado and Kiaka operations, highlighting the company's target of 500,000 oz pa gold production from 2027. A copy of his presentation delivered at the AGM is available here: loom.ly/6j1Vbfs

Recently the official handover of keys took place at the Bassindengo resettlement site. Planning for the Bassindengo community site began in 2022 as part of the Kiaka resettlement program to provide housing for 64 households. The completion of this major infrastructure development has seen approximately 500 people from the Niaogho, Béguédo, Boussouma and Garango communes settled onto this 33.5-acre plot. A total of 216 high-quality structures have been erected, including 156 residential plots for an overall investment of XOF 701 728 698 (A$1,766,218). In addition to the handover of keys, each household received a Residential Occupancy Certificate, securing formal ownership and occupancy. Along with beneficiaries and their families, the ceremony to celebrate the completion of this significant development was enjoyed by authorities representing the Boulgou Province. A key highlight was an awareness raising play performed by the Tampy Police Station group, which emphasized the exemplary nature of the project. The performance further highlighted the company’s significant investments to enhance the living conditions of resettled families, including the construction of durable housing and upgraded roads. This milestone reaffirms West African Resources’ $WAF ongoing commitment to working responsibly within the communities in which we operate.

$WAF AGM Investor Presentation: loom.ly/gtEyW1o

Each April World Geologist's Day is recognised globally 🌏⛏️ This month and throughout the year, West African Resources $WAF proudly acknowledges the critical role geologists play within our organisation. Geologists are the backbone of our operations, and we thank all of our on-site teams for your ongoing contributions.

Speaking on the March quarterly investor call yesterday, our Executive Chairman and CEO Richard Hyde and CFO Padraig O’Donoghue discussed WAF’s plans to distribute the cash proceeds received from the sale of its interest in Kiaka back to shareholders by way of a special dividend. 🔊 Listen to the full call recording here: loom.ly/N9-v7sw $WAF

Today our Executive Chairman and CEO Richard Hyde and CFO Padraig O’Donoghue hosted an investor webinar providing an overview of the March 2026 quarter, which included quarterly gold production of 107,728 ounces at an AISC of US$1,921/oz from our two large low-cost gold production centres of Sanbrado and Kiaka, and a record high cash balance of A$847m. 🔊 Listen to the replay here: loom.ly/N9-v7sw $WAF

📄 March 2026 Quarter Report: loom.ly/5X8xntI $WAF Executive Chairman and CEO Richard Hyde commented: “With quarterly production of 107,728 ounces gold at an AISC of US$1,921/oz from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso and based on our planned production profile for 2026, 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. “Our updated Resources, Reserves and 10-year Production Plan also released in the quarter, reported further increases to the production plans for Kiaka and Sanbrado on the back of outstanding results from our 2025 drilling programs. At Kiaka we have also modelled higher production throughputs based on exceptional performance of the process plant. Planned production increases from Sanbrado and Kiaka underpin WAF’s goal of being a sustainable 500,000 ounce gold producer. “WAF is on an exciting growth trajectory, and we continue to create value through the drill-bit with a US$20 million exploration budget and more than 100,000 metres of drilling planned at our Sanbrado and Kiaka production centres and surrounding exploration areas in 2026." 💻 We will host an investor webinar and conference call today at 10:00am AEST to discuss the March 2026 quarterly report — join here: loom.ly/P0XaAAQ

We will host an investor webinar and conference call on Thursday, 23 April 2026 at 10:00am AEST with $WAF Executive Chairman and CEO Richard Hyde to discuss the March 2026 quarterly report. Full call details and register here: loom.ly/P0XaAAQ

Burkina Government decree to acquire 25% of Kiaka for $175 million: loom.ly/X1DFwHs Our Executive Chairman and CEO Richard Hyde commented: “Publication of the Decree removes uncertainty regarding the Government’s interest in Kiaka. WAF will proceed to finalise a transaction with SOPAMIB, which we aim to have completed by the end of CY 2026. WAF plans to distribute the cash proceeds received from the sale of its interest in Kiaka back to shareholders by way of a special dividend. “Our discussions with SOPAMIB have been extensive and robust. During these discussions, we have also explored opportunities for a mutually beneficial long-term partnership on advanced gold projects within SOPAMIB’s current portfolio. “I look forward to releasing WAF’s quarterly activities and cash flow reports later this week, which are anticipated to report a record high cash position for $WAF."

📄 Production update from Sanbrado and Kiaka for the March quarter 2026: loom.ly/rEBHaiY $WAF Executive Chairman and CEO Richard Hyde said: “With quarterly production of 107,728 ounces gold from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso, WAF is well on-track to achieve 2026 annual production guidance of 430,000 – 490,000 ounces of gold. I look forward to releasing our full quarterly activities report in the coming weeks.”

West African Resources $WAF presents its 2025 Responsible Mining Report, which details our achievements and performance over the past year across a range of ESG areas, including our workforce, engagement with stakeholders and communities, and environmental management. Read the report here: loom.ly/OgNYvD0

West African Resources $WAF proudly celebrated International Women’s Day on March 24, 2026, recognising the contribution which is made by women in our operations and more broadly to celebrate women in the mining sector. Bringing together nearly 300 employees, the event focused on empowerment, connection, and the role women play in shaping an inclusive and diverse mining industry. Our senior leaders and guests shared powerful messages encouraging women to step forward with confidence, embrace their influence and take bold action in their careers. Writer, businesswoman and guest of honour Nabou Fall reinforced the notion that transformation is born from courage and stressed to the audience the importance of demonstrating your capabilities to realise your potential. The event reaffirmed West African Resources’ commitment to diversity and inclusion, recognising that a truly resilient and sustainable future is built through a diverse and engaged workforce.

West African Resources presents its 2026 updated Resources, Reserves and 10-year production outlook for its Sanbrado Gold Operations, including the Toega Gold Deposit, and the Kiaka Gold Operation in Burkina Faso: loom.ly/0T2Cojc Our Executive Chairman and CEO Richard Hyde commented: “WAF’s updated 10-year production outlook forecasts the production of 5.3 million ounces of gold over the next decade, with production peaking in 2030 at 596,000 ounces. Our unhedged Mineral Resources now stand at 13.6 million ounces of gold, while Ore Reserves total 7.0 million ounces. “We see potential to improve annual production further through our ongoing drilling programs where we plan to drill more than 100,000m annually targeting extensions at M5 South underground, beneath M5 North open-pit and Toega underground. "Our 2026 10-year production plan highlights WAF’s strong and sustainable long-term future. We are proud to continue generating significant value for our stakeholders and host communities in Burkina Faso over the coming decade, particularly through education initiatives, skills development programs, and local job creation around our gold projects, while remaining a strong contributor to the Burkinabe economy." 📸 Pictured: West African’s $WAF Mineral Resources growth since 2015, project location plan.

📑 $WAF 2026 Production Guidance: loom.ly/cHr-wTQ Our Executive Chairman and CEO Richard Hyde commented: “2026 is set to be a record production year for WAF as we will see a full year of operation from Kiaka for the first time, and another solid year of production from Sanbrado is expected. We are guiding WAF gold production from 430,000 to 490,000 ounces in 2026 at an AISC less than US$1,900/oz. “WAF is on an exciting growth trajectory, and we continue to create value through the drill-bit with a US$20 million exploration budget and more than 100,000m of drilling planned at our Sanbrado and Kiaka production centres and surrounding exploration areas in 2026. “Our updated Resources, Reserves and 10-year Production Plan also released today, sees increases to Sanbrado’s production plan on the back of outstanding results from our 2025 drilling programs. At Kiaka we have modelled higher production throughputs following the exceptional performance of the process plant while on stable grid power in the December 2025 quarter. Planned production increases from Sanbrado and Kiaka underpin WAF’s goal of being a sustainable 500,000 ounce gold producer.”

Great to attend the Euroz Hartleys Institutional Conference again this year. Our Executive Chairman and CEO Richard Hyde is pictured below presenting the $WAF story to the institutional investors in attendance. Read our March 2026 investor presentation, lodged for the conference here: loom.ly/_I9FAOY Thanks for having us! 📸 Photo credit: @EurozHartleys