Westgold Resources Limited (ASX: WGX) (Westgold or the Company) wishes to advise that in relation to the offmarket takeover bid for Gascoyne Resources Limited (Gascoyne) as detailed in the Bidder's Statement dated 15 October 2021 and Westgold's subsequent announcement dated 25 October 2021 (Offer), Westgold has today been advised of the statement of intention by a Gascoyne major shareholder, NRW Holdings Limited (NRW), in relation to the Offer.

Westgold is pleased to advise that NRW, holding 36,935,762 shares in Gascoyne (14.71% of Gascoyne) hasstated that, in the absence of a superior proposal emerging (determined by NRW in its discretion), its current intention is to accept the Offer for all of the shares it owns or controls prior to the close of the Offer.

NRW have stated that in the event that a superior proposal does emerge for Gascoyne prior to NRW having accepted the Offer and being unable to withdraw that acceptance, NRW reserves its right to accept that superior proposal for the shares it owns and controls without further notice

Contact:

Wayne Bramwell

Tel: +61 8 9462 3400

Email: wayne.bramwell@westgold.com.au

Web: www.westgold.com.au

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