Westar Resources : VMS Base metal targets confirmed at Gidgee North

ASX Announcement

23 February, 2022

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9 High-Priority VMS Targets at Gidgee North;

Drilling to Commence in Q2 CY2022

HIGHLIGHTS

	9 high-priority VMS base-metal targets identified from collating datasets including:
	o Recently completed Fixed Loop Electromagnetic survey (FLEM)
use	o Positive magnetic and gravity geophysical anomalies
o VMS pathfinder geochemistry across 3 FLEM conductors
	o Permissive host lithologies and structures
	o Clustering of anomalies, including along strike of the Altair prospect (ASX: HRN)
	Potential analogies to the nearby "Altair" Cu-Zn prospect

1. 44m @ 1.2% Cu from 56m (ALAC005) and 20m @ 1.1% Cu from 64m (ALRC0007) Maiden RC drill program scheduled to commence in early Q2 CY2022

personalWestar Resources Limited (ASX: WSR) (Westar or the Company) is pleased announce that it has received the interpreted results from the Fixed Loop Electromagnetic (FLEM) survey at its Gidgee North

project located in the Sandstone region of Western Australia. The survey covered 9 SkyTEM anomalies, all 9 have now been defined as high-priority VMS targets (Cu-Zn-Pb).

The 9 high-priority VMS targets identified at Gidgee North are based on a combination of exploration activities undertaken by Westar including a FLEM survey, soil sampling geochemistry and an updated litho-structural interpretation. The Company is scheduled to commence drilling in Q2 CY2022.

Westar Managing Director Karl Jupp commented:

For"These are simply exceptional VMS targets, resulting from diligent and systematic exploration at our Gidgee North Project. The cluster of high-priority targets at the Youno Downs Camp, along with additional blue-sky potential between the Breakaway Bore and Griffin prospects represents an exceptional and rare opportunity in the mature exploration environment of Western Australia. Our plan from here is to progress immediately to planning for our maiden drilling program which is scheduled to commence early Q2 CY2022."

Registered Address	Board Members	Projects
Westar Resources Limited	Karl Jupp - Managing Director & CEO	Sandstone (100% Owned)
ACN 635 895 082	Simon Eley - Non-Executive Chairman	Mt Magnet (100% Owned)
ABN 66 635 895 082	Nathan Cammerman - Non-Executive Director	Nullagine (100% Owned)
			Southern Cross (RMS JV)
A	Level 1, 19 Ord St,
	West Perth, WA 6005	T [phone]	ASX Code	WSR
P	PO Box 814	E [e-mail]
	West Perth, WA 6872	W www.westar.net.au

Figure 1 - FLEM plates over SkyTEM anomolies and geology; Youno Downs camp, Gidgee North.

GIDGEE NORTH VMS EXPLORATION UPDATE

onlyWestar Resources has received all multi-element assay results from an in-fill and extensional soil sampling program, and plate models from a recently completed FLEM program over previously identified SkyTEM targets. This data has assisted to further refine base-metal targets previously announced 4 October 2021, "Gidgee North Base Metal and Gold Exploration Update". The FLEM survey in conjunction with field mapping, revised litho-structural interpretation utilizing open-file ground gravity data and desk-top targeting study has identified 9 high-priority VMS prospects. The Youno Downs camp FLEM plates and prospects are displayed in Figure 1, below.

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ForFixed Loop Electromagnetic Survey

A FLEM survey was completed in early 2022 to improve data quality and constraints on anomalous responses identified from a 2015 open file SkyTEM AEM survey. Nine SkyTEM anomalies and one geochemical anomaly were surveyed. Twelve EM anomalies across ten prospects were identified and modelled by specialist consultants, Newexco PL, with further details provided in JORC Table 1. Figure 2 illustrates prospects across the central and southern Gidgee North Project.

Importantly, the >11km of strike extent between the Breakaway Bore and Griffin prospects (geochemical anomaly) are not covered by the existing SkyTEM AEM dataset and have received only limited historical exploration, indicating substantial upside potential for additional targets.

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Figure 2 - Central and Southern Gidgee North Project with FLEM identified prospects.

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Geochemistry

onlyA soil sampling program comprised of 537 samples was completed late in 2021 (Appendix 1) and extends upon existing and assay results reported on 4 October 2021, "Gidgee North Base Metal and Gold Exploration Update"). Multi-element assay results indicate distinct Cu, Zn, Pb and Ba anomalies that are spatially correlated to SkyTEM and FLEM targets, with these metals displaying a form of metal zonation that is commonly recognized in VMS mineralized systems. For example, soil geochemistry displayed below (Figure 3) at the Breakaway Bore prospect, exhibits an anomalous Cu core (with low level Au anomalism), over the main SkyTEM and FLEM targets, outwardly grading into Zn anomalism, then Pb/Ba anomalism.

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Figure 3 - Breakaway Bore prospect with skyTEM and soil sampling geochemistry.

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Figure 4 - Historical drilling at the Vela Prospect with significant Cu and Zn intersections

Historical RAB Drilling

onlyThe Gidgee North Project has limited historical drilling, with significant results limited to drilling at the Vela prospect by Pancontinental Gold PL in 1994 (A 42623), that identified Cu-Zn mineralisation including:

• 8m @ 1.12% Cu from 48m (to EOH) (GVER010), including o 4m @ 1.65% Cu
• 20m @ 0.17% Zn from 40m (to EOH) (GVER008)

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ForVMS Targets and Ranking

VMS targets have been systematically ranked based on commonly understood VMS system features, including;

1. Presence of conductors in airborne and ground electromagnetic surveys.
2. • VMS systems contain a variety of sulphide minerals, including pyrrhotite that are electrically conductive.
3. Presence of positivity gravity anomalies.
4. • Pervasive sulphide mineralogy of VMS systems are typically more dense than hosting lithologies.
5. Presence of positive magnetic anomalies.

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