West Wits Mining Limited announced the commencement of first phase drilling with the objective to confirm historical information on the Company's Uranium Exploration Target. In October 2021, the Company announced the restatement of its Uranium Exploration Target to JORC (2012) standard and the inclusion of Uranium as a targeted mineral in the Bird Reef exploration program at the Witwatersrand Basin Project ("WBP"). The 2008 exploration results1 confirmed consistent Uranium mineralisation over approx.

3.3km with more than 7km of strike identified along the targeted Bird Reef section within the WBP mining right area. This Phase 1 Uranium Drilling Program is the first of a three-phased diamond drilling initiative which aims to convert the declared JORC Uranium Exploration Target into an Inferred Mineral Resource. Table 1 below outlines the magnitude of the Exploration Target and Image 1 showcases the commencement of drilling operations.

The first phase of the Uranium Drilling Program will entail the drilling of three drill-holes, each approximately 120 meters deep, in known areas of mineralisation. Results are expected to be announced by the end of September 2022. A further two phases of drilling are planned once the data from the Phase 1 drilling has been analysed.

Phase 2 will follow the zone of mineralisation on the strike and down dip within the Mining Right Area as shown below in Image 2. Once phase 2 is completed, West Wits anticipates it will be in a position to convert the Exploration Target to a JORC compliant Inferred Mineral Resource. Phase 3 drilling is planned to test the continuous nature of the Uranium bearing reef to depths beyond 400m below surface. After Phases 1/2 drilling is completed and the Exploration Target has been successfully updated to a JORC compliant Inferred Mineral Resource, the Company also plans to complete a Scoping Study to confirm the viability of a stand-alone Uranium mining operation on the Bird Reed Central area.

The Scoping Study is intended to motivate the third phase which targets mineralisation below 400 meters to test possible continuity of the zone. Should the Scoping Study confirm viability, the exploration will be extended to drive towards an Indicated Mineral Resource. Table 2 outlines the phased approach.

Image 3 showcases a 3D schematic of the historical (red), Phase 1 (green) and Phase 2 (yellow) drillholes. The staged program is designed to arrive at an improved geological understanding of the mineralised Bird Reef sequence. Phases 1 and 2 drilling will, furthermore, improve geostatistical support to assist in arriving at JORC compliant Mineral Resource estimation and modelling.