Westar Resources : Maiden RC Drill Program Commences at Gidgee North

ASX Announcement

19th April 2022

Maiden RC Drill Program Commences at Gidgee North VMS Base Metal Targets

HIGHLIGHTS

Maiden RC drill program at the Gidgee North VMS base-metal camp underwayDrilling to test 10 high priority VMS base metal targets across 8 prospects

High priority targets have been identified through a combination of airborne (VTEM) and ground geophysics (FLEM), soil sampling and litho-structural interpretations

Gidgee North has never been drill tested for base metals and the maiden drill program aims to discover a new VMS base metals camp in WA

Targets have potential analogies to the nearby "Altair" Cu-Zn prospect1

• o 44m @ 1.2% Cu from 56m (ALAC005) and 20m @ 1.1% Cu from 64m (ALRC0002)

Westar Resources Limited (ASX: WSR) (Westar or the Company) is pleased announce commencement of the maiden RC drill program at the Gidgee North project, located in the Meekatharra-Sandstone region of Western Australia.

The program consists of approximately 5,000m of RC drilling over 10 high priority VMS targets (Cu-Zn-Pb) identified through a combination of exploration activities including airborne and ground geophysics, soil sampling and litho-structural interpretations.

Westar Managing Director Karl Jupp commented:

"Technical work completed by the Westar Team over the last 12 months has progressively evolved these VMS targets to a confidence level where it's simply time to drill. Our geophysics, geochemistry and litho-structural interpretations in conjunction with known mineralisation at Vela and the nearby Altair prospect all point towards the discovery potential of a new VMS base metals camp."

1 -https://horizongold.com.au/gumcreekproject/altair/

Registered Address Westar Resources Limited ACN 635 895 082

Board Members

ABN 66 635 895 082

Karl Jupp - Managing Director & CEO Simon Eley - Non-Executive Chairman Nathan Cammerman - Non-Executive Director

• A Level 1, 19 Ord St, West Perth, WA 6005

  T [phone]

• P PO Box 814

  West Perth, WA 6872

[e-mail] Wwww.westar.net.au

Figure 1 - Commencement of maiden drill program at Gidgee North

DRILLING AND TARGETTING OVERVIEW

Over the last twelve months Westar Resources in collaboration with specialist consultants, PGN Geoscience and Newexco have advanced ten compelling VMS base metal targets at the Gidgee North Project. Data collected and interpreted over the past twelve months includes;

• • Recently derived conductors from airborne (SkyTEM) coupled with ground electromagnetic (FLEM) surveys

• • Co-incident gravity anomalies and magnetic anomalies

• • Positive analysis of VMS pathfinder geochemistry

• • Permissive host lithologies, structures and clustering of targets, and

• • Detailed review of drilling information at the Vela prospect with significant Cu-Zn reported intersections, including:

  • o 8m @ 1.12% Cu from 48m (to EOH) (GVER010), incl.

  • o 4m @ 1.65% Cu from 48m

The Gidgee North maiden RC drilling program will initially test ten priority VMS targets, including; Vela, Geo, NW Gossan, Moses, Discrete, Gumtree, Airstrip (two targets) and Breakaway Bore (two targets).

The programs' objective is to confirm 'proof of concept', with priority drilling targeting center top of modelled conductor plates. DHEM (Down Hole Electro-Magnetic) surveys are planned on completion of drilling.

Figure 2 - FLEM plates over SkyTEM anomalies and geology; Youno Downs camp, Gidgee North.

VMS MINERALISING SYSTEMS

VMS systems occur globally, often in clusters, and are significant sources of Cu, Zn, Pb, Au and Ag. These systems typically form at or near the seafloor in submarine volcanogenic environments and frequently in extensional tectonic settings. The conceptual model (Figure 3) describes oceanic and hydrothermal fluids leaching metals from surrounding host rocks as hot fluids rise through long-lived fault systems. Metals are eventually precipitated onto the seafloor due to rapid changes in temperature and chemistry. VMS deposits commonly exhibit various styles of metal zonation such as a Cu-rich core, grading into Zn, Pb and iron sulphides and other various exhalative minerals distal to the vent.

Figure 3 - Conceptual model of submarine volcanogenic systems and VMS style mineralisation

Ongoing Exploration

In addition to the RC drilling program, Westar is progressing exploration plans over the >11km of prospective greenstone strike extent between the Breakaway Bore and Griffin prospects including infilling datasets for airborne, ground gravity and geochemistry (Figure 4). Westar has also commenced a desk-top review of gold targets over the Gidgee North Project based on known mineralisation styles in the Gum Creek Greenstone Belt and the Company's extensive datasets.

Figure 3 - Gidgee North project with existing targets and area for additional exploration between the Breakaway Bore and Griffin Prospect