West African Resources : hits 116 g/t Au at M5

Press Release

6th September 2017 West African hits 116 g/t Au at M5

Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to report further high-grade drilling results from its Sanbrado Gold Project, Burkina Faso.

Managing Director Richard Hyde commented:

"Diamond drilling at M5 has extended high-grade mineralisation a further 70m down dip at M5 with TAN17-DD156A returning 8m at 17.5 g/t Au from 452m TAN17-DD156A including 1m at 116 g/t Au.

"This result is located 70m down-dip of TAN17-DD102 which returned 26m at 12.7 g/t Au. Mineralisation is open at depth and along strike.

"Visible gold has also been intercepted in deep drilling in TAN17-DD-162 at 585m downhole, indicating the high-grade M1 South system remains fertile and open at depth.

"The Company remains on track to deliver a resource update in Q3 2017, and is-funded to complete all work programs."

Highlights

• High-grade results from M5;

  • 8m at 17.5 g/t Au from 452m including 1m at 116 g/t Au and 1m at 17.4 g/t Au

  • 21m at 2.30 g/t Au from 514m including 2m at 4.6 g/t Au

• Visible gold intercepted in deep drilling at M1 South

• Three drill rigs currently on-site double shifting, infilling and extending mineralisation

• Ground geophysical survey completed - results pending

• Resource update on track for Q3 2017 and updated Feasibility Study in mid-2018

• Funded to complete all work programs with $28.5m cash at bank

Principal Office: 14 Southbourne Street, Scarborough WA 6019, Western Australia

T: + 61 8 9481 7344 F: + 61 8 9481 7355 E: [e-mail] www.westafricanresources.com ACN: 121 539 375

M5 Drilling Program

TAN17-DD156A on section SW650 has returned strong results, returning 8m at 17.5 g/t Au from 452m, including 1m at 116 g/t Au and 1m at 17.4 g/t Au. This result is located more than 70m down-dip of TAN17-DD102 which returned 77m at 5.3 g/t Au including 27m at 12.26 g/t Au and 14m at 22.47 g/t Au, demonstrating the M5 system is showing strong grade at depth and requires further drilling. Significant results from recent drilling at M5 include:

 TAN17-DD131: 7m at 1.91 g/t Au from 273m and 6m at 2.17 g/t Au from 323m

 TAN17-DD132: 5m at 2.73 g/t Au from 376m

 TAN17-DD136: 3m at 4.98 g/t Au from 233m

 TAN17-DD142: 8m at 1.87 g/t Au from 379mTAN17-DD143: 21m at 2.30 g/t Au from 514m, including 2m at 4.6 g/t Au

 TAN17-DD148: 15m at 1.09 g/t Au from 454m

 TAN17-DD149A: 10m at 1.80 g/t Au from 447m

 TAN17-DD156A: 8m at 17.5 g/t Au from 452m, including 1m at 116 g/t Au and 1m at 17.4 g/t Au

Previous results from the 2017 drilling program at M5 include:

 TAN17-DD094: 29m at 4.96 g/t Au from 128m, including 9m at 10.6 g/t Au

 TAN17-DD095: 13m at 2.29 g/t Au from 396m, including 1m at 12 g/t Au

 TAN17-DD097A: 15m at 5.03 g/t Au from 256m, including 2m at 27.3 g/t Au

 TAN17-DD100: 20m at 3.34 g/t Au from 170m, including 1m at 14.3 g/t Au and 2m at 16.5 g/t Au

 TAN17-DD100: 22m at 1.53 g/t Au from 210m

 TAN17-DD101: 42m at 3.89 g/t Au, including 2m at 27.47 g/t Au and 14m at 5.41 g/t Au

 TAN17-DD102: 77m at 5.3 g/t Au, including 27m at 12.26 g/t Au and 14m at 22.47 g/t Au; and TAN17-DD102: 30m at 2.39 g/t Au from 399m

 TAN17-DD116: 20m at 2.1 g/t Au from 178m

 TAN17-DD118: 36.5m at 2.5 g/t Au from 320m, including 0.5m at 49.5 g/t Au

 TAN17-DD126: 12m at 3.3 g/t Au from 211m

 TAN17-DD127: 37m at 2.4 g/t Au from 298.5m, including 1.5m at 18.1 g/t Au,

 TAN17-DD127: 25.5m at 1.9 g/t Au from 341.5m

All the results detailed above have been reported after the completion of the February 2017 DFS and will be included in the upcoming resource update. Given the elevated grades exhibited in 2017 drilling, it is expected that updated resources will have a positive impact on M5 open pit reserves and will result in extending the open pit depth in the southern portion of the M5 deposit, which will be included in the updated DFS scheduled for completion in mid-2018. A section through SW650 and summary plan for the M5 deposit are presented as Figures 2 and 3 below. Full results for M1 and M5 drilling are presented in Table 1 and 2.

Figure 1: M5 SW650 Cross-Section

M1 South Drilling Program

Figure 2: M5 Exploration Summary Plan

A new drilling program has commenced at M1 South aiming to take mineralisation to more than 500 vertical metres below surface, on the southern shoot at M1 South. Figure 3 below shows the final locations of TAN17-DD162 and TAN17-DD163 and the anticipated intersection positions of TAN17- DD164A and TAN17-DD165 (in progress). Both TAN17-DD162 and TAN17-DD163 have intercepted visible gold mineralisation and strong shearing which is a characteristic of the M1 South mineralisation, demonstrating the M1 South high grade shoot remains fertile and open at depth. All drilling for the Q3 resource update has been completed and three further holes are outstanding (TAN17-DD154, 158 & 160). Results for TAN17-DD162 and TAN17-DD163 have been prioritised at the lab and will be reported