Kingwest Resources : Sir Laurence Gold Discovery grows to over 1km strike length

Kingwest Resources Ltd

ASX: KWR

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Directors & Management

Chairman

Gregory Bittar

useCEO

Ed Turner

Non Executive Directors

Adrian Byass

Jonathan Downes

Jon Price

personalComp ny Secretary Stephen Brockhurst

Principal Place of Business

Unit 3, Churchill Court

335 Hay Street

Subiaco WA 6008

Registered Office

L v l 11

216 St Georges Terrace

Perth WA 6000

Contact

ForT 08 9481 0389

[e-mail] www.kingwestresources.com.au

Investor Relations

Lucas Robinson

T [phone]

1. [e-mail]

29 November 2021

Sir Laurence Gold Discovery grows to over 1km strike length: AC drilling completed and Diamond core drilling underway

Highlights include:

• Significant gold on every line over 1km strike length to date with assays from 44 of 107 holes at Sir Laurence pending
• Significant bedrock mineralisation on every line
• Mineralisation remains open in all directions
• Diamond core drilling has commenced
• 32 regional aircore holes outside Sir Laurence also completed for 1,245m with all assays pending

CEO, Ed Turner commented "To get significant gold intersections, including bedrock mineralisation, on every line drilled to date at Sir Laurence is exceptional. To date these cover a strike length of 1km and mineralisation is open in all directions. Some of our best results, such as 2m @ 1.6 g/t Au from 76m in KGA067O, have been at the end of drill lines and therefore there remains a lot of additional drilling required before the limits of mineralisation are defined. We now look forward to seeing what the diamond core drilling intersects and anticipate initial results before Christmas. We also look forward to the assay results from the remainder of the Sir Laurence holes and the regional holes."

DISCUSSION OF RESULTS

The second aircore program at Lake Goongarrie has been completed comprising 149 holes for 10,066m (KGA0615 - O753) (Figure 1).

This included 107 holes at Sir Laurence for 8,821m (KGA0615 - 0701 and KGA0731 - 750) (Figure 2) as well as 32 regional holes for 1,245m (KGA0702

• 0730 and KGA0751 - 0753) (Figure 3).

Composite assays have been received for 63 holes (KGA0615 - KGA0676) from Lines A, B, C, D, E, F, G and H) with the remainder pending. N.B. assays for KGA0615 - 0643 were reported to the ASX on 16 November 20211.

Significant intersections from holes KGA0644 - 0676 are included in Table 1 and all drill hole details are included in Table 2.

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New significant intersections from Lines D, E, F and G include 2m @ 1.6 g/t Au from 76m in KGA067O (the last effective drillhole at western end of Line F), 8m @ 0.7 g/t Au from 72m (followed by 6m @

0.3 g/t Au from 80m in bedrock) in KGA0675 and 4m @ 0.7 g/t Au from 84m in KGA0667 however there are many significant intersections of > 0.1 g/t Au in other holes and the fact that significant results have now been returned on every line over a strike length of at least 1km once again reinforces the very large size of the Sir Laurence mineralised system.

The programme was extended by 2,800m from the original planned programme, including an additional 14 holes drilled to follow up significant results around Lines A and B, which included 28m @

1.9 g/t Au from 20m in KGA0627 (16m in bedrock) and 12m @ 2.0 g/t Au from 12m in KGA06261. Assays for these holes are pending.

Figure 1 shows the extent of significant gold encountered to date. There are indications of a possible relationship between the bedrock gold, which has been intersected on every line to date, the presence of the NW trending D4 magnetic structures, and the occurrence of lobes of demagnetisation within the generally more magnetic Black Flag Group polymictic conglomerate unit.

The assays received for Line A to G are only composite samples while assays result from Program 1 (Line 5) include composite and single split values.

Figure 1: Aircore drilling at the Sir Laurence Discovery

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Figure 2: Significant drill results within the Sir Laurence Discovery on magnetics background

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Table 1: Significant aircore intersections (>0.1 g/t Au) within Sir Laurence Discovery

Line	Hole ID	Depth From (m)	Depth To (m)	Interval (m)	Au (g/t)	Comment
D	KGA0644	72	76	4	0.36	Alluvial
D	KGA0648	60	64	4	0.13	Alluvial
D	KGA0649	66	70	4	0.15	Alluvial
D	KGA0650	56	60	4	0.18	Alluvial
D	KGA0650	68	72	4	0.35	Alluvial
D	KGA0651	56	60	4	0.22	Alluvial
D	KGA0651	68	72	4	0.11	Alluvial
D	KGA0652	56	75	19	0.10	Alluvial
E	KGA0653	84	86	2	0.17	Bedrock
E	KGA0654	72	84	12	0.41	Alluvial
E	KGA0654	80	84	4	0.20	Bedrock
E	KGA0655	80	84	4	0.33	Alluvial
E	KGA0657A	72	76	4	0.37	Alluvial
E	KGA0660	60	68	8	0.24	Alluvial
F	KGA0661	76	84	8	0.37	Alluvial
F	KGA0662	56	72	16	0.16	Alluvial
F	KGA0663	60	64	4	0.13	Alluvial
F	KGA0667	84	88	4	0.70	Alluvial
F	KGA0670	72	76	4	0.18	Alluvial
F	KGA0670	76	78	2	1.61	Bedrock
G	KGA0672	68	72	4	0.33	Alluvial
G	KGA0674	76	84	8	0.20	Alluvial
G	KGA0675	72	80	8	0.69	Alluvial
G	KGA0675	80	86	6	0.33	Bedrock
G	KGA0676	72	76	4	0.12	Alluvial

Next Steps

A diamond core programme comprising approximately 1,500m of diamond core drilling has started at Sir Laurence to determine the three-dimensional controls of the primary mineralisation. The diamond holes will target the bedrock mineralisation already encountered in both aircore programs.

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Figure 3: Location of all aircore drill collars for the first and second aircore programmes completed. Regional

holes completed in this second programme are shown as red dots within the smaller black boxes