WIA Gold : June Quarterly Report and Appendix 5B

28 July 2022

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QUARTERLY ACTIVITIES REPORT

for the Quarter ended 30 June 2022

HIGHLIGHTS

Namibia

• Diamond drilling results see Kokoseb emerge as a significant gold discovery
• A 1,749m diamond drilling program was completed during the June quarter, the first results of which returned significant high-grade gold intercepts, including:

1. KDD001: 17.4m at 2.70 g/t Au from 49m, incl. 5.2m at 5.91 g/t Au

1. KDD002: 4.8m at 4.38 g/t Au from 110.9m

• 1. KDD008: 27.0m at 1.67 g/t Au from 36.5m, incl. 8.5m at 2.44 g/t Au 19.9m at 1.47 g/t Au from 131m, incl. 4.8m at 2.79 g/t Au
• All trenches completed over Kokoseb returned in situ gold mineralisation, including the following significant intercepts:
• 1. OT006: 10m at 0.96 g/t Au and 6m at 1.06 g/t Au

1. OT007: 13m at 1.07 g/t Au

1. OT008: 7m at 0.64 g/t Au

• 1. OT009: 27m at 1.19 g/t Au
• Commencement of a 20,000m reverse circulation drilling program Côte d'Ivoire
• Results from auger drilling at the Bouaflé Project returned a series of wide +50ppb gold anomalies
• Completion of 7,538m of aircore drilling on the Bouaflé Sud permit
• Auger drilling program continued on the Mankono Ouest permit, following positive first pass auger drilling results over the Southern gold anomaly

Wia Gold Limited (ASX: WIA) (Wia or the Company) is pleased to provide its Quarterly Activities Report for the Quarter ended 30 June 2022. During the Quarter, exploration activities continued at the Company's projects in Côte d'Ivoire and Namibia.

EXPLORATION - NAMIBIA

Assay results from the first three diamond drill holes at Kokoseb - KDD001, KDD002 and KDD008 - have returned high-grade intercepts that confirm the outstanding opportunity of this large-scale anomaly. Results include 17.4m at 2.70 g/t Au, 4.8m at 4.38 g/t Au, 27m at 1.67 g/t Au and 19.9m at 1.47 g/t Au.1

The diamond drilling results defined a significant new gold discovery in Namibia and demonstrated the large-scale opportunity at Kokoseb. Not only does Kokoseb have scale, as shown by the results

1 ASX announcement 7 June 2022

202 Hay Street, West Perth WA 6005 T: [phone] E: [e-mail]

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of extensive soil sampling and by the in-situ mineralisation intersected in trenches, it also hosts high- grade mineralisation, with all three diamond drillholes returning significant gold intercepts.

In addition to the diamond drilling, assay results were also received from the last trenches completed at Kokoseb - OT006, OT007, OT008 and 0T009 (Figure 1). Mineralisation in the oxidised rock was intersected in all trenches, with assays returning significant intercepts.

Figure 1 shows the results of the diamond drilling and trenching work.

Figure 1 - Diamond drillhole and Trench locations on the Kokoseb detailed geology; significant drillhole intercepts (in white, reported during the quarter) and on Trenches (in orange, reported during the quarter; in black, previously reported); all intercepts >0.5 g/t Au2

2 ASX announcements 10 February 2022 and 7 June 2022

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Diamond drilling

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The first section drilled at Kokoseb included two drillholes, KD001 and KD002 (Figure 2), which returned the following significant intercepts:

• KDD001 17.4m at 2.70 g/t Au from 49m, including 5.2m at 5.91 g/t Au
• KDD002 12.2m at 1.09 g/t Au from 89.1m

3.2m at 2.49 g/t Au from 104.5m

4.8m at 4.38 g/t Au from 110.9m

2.7m at 2.37 g/t Au from 122.9m

The holes were drilled under Trenches 1 and 2, from which significant intercepts of 8m at 1.03 g/t Au and 3m at 1.03 g/t Au were previously reported3. The mineralised zone was not completely intersected at surface in the trenches (mineralisation stops at the end of Trench 1) and has a true width ranging between 14m and 27m intersected in the drilling. Gold grades are also significantly higher in the fresh rock in the drillholes than in the oxidised rock at surface on the section. This scenario, considered to be a result of the weathering process, is expected to occur beneath other trenches at Kokoseb and demonstrates that the grade of the underlaying fresh rocks can be significantly higher than grades at surface.

Figure 2 - Drill section KD001 and KD002 plus Trenches 1 and 2

3 ASX announcement 10 February 2022

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Significant intercepts from a third hole - KDD008 - included:

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• KDD008 3.8m at 0.79 g/t Au from 19.6m 3.0m at 1.30 g/t Au from 30m
  27m at 1.67 g/t Au from 36.5m, including 8.5m at 2.44 g/t Au 2.8m at 0.83 g/t Au from 70m
  7.1m at 1.35 g/t Au from 75.3m
  4.6m at 1.50 g/t Au from 86.7m
  19.9m at 1.47 g/t Au from 131m
  7.7m at 1.27 g/t Au from 155.7m

KDD008 was drilled under Trench 5, which previously returned the best surface intercepts, including 52m at 1.65 g/t Au, 6m at 1.14 g/t Au and 10m at 1.05 g/t Au4 . The mineralised zone intersected in Trench 5 can be directly correlated to the upper set of intercepts in KDD008 (Figure 3), which has a true width estimate of 73m. Both the lower set of intercepts, 19.9m at 1.47 g/t Au and 7.7m at 1.27 g/t Au are hosted by a different structure that appears to have a flatter dip, inferred to be 35° from the correlations with drillhole KDDD012, located on the same section. Results for KDD012 are pending.

Figure 3 - Drill section KD008 plus Trench 5

4 ASX announcement 6 April 2022

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The mineralisation in all three drillholes reported here is visually represented by sulphides (arsenopyrite, pyrrhotite and pyrite), occurring as fine-grained dissemination and in small veins (millimetre scale). The host sediments (biotite-schists) are highly altered, showing mineral assemblages including chlorite, biotite, silica and sericite

Trenching activity

Trenches have intersected in situ mineralisation at every location of the gold in soil anomaly, which has been extended by the infill soil sampling

The assay results were also received from the last trenches completed at Kokoseb - OT006, OT007, OT008 and 0T009 (Figure 1). Mineralisation in the oxidised rock was intersected in all trenches, returning the following significant intercepts:

• OT006 8m at 0.73 g/t Au from 0m 10m at 0.96 g/t Au from 16m 6m at 1.06 g/t Au from 30m 3m at 1.03 g/t Au from 55m
• OT007 13m at 1.07 g/t Au from 20m
• OT008 2m at 0.89 g/t Au from 11m 2m at 1.37 g/t Au from 18m 7m at 0.64 g/t Au from 24m 2m at 1.01 g/t Au from 37m 8m at 1.25 g/t Au from 47m
• OT009 5m at 0.62 g/t Au from 2m 27m at 1.19 g/t Au from 12m 4m at 0.69 g/t Au from 48m 2m at 3.30 g/t Au from 82m 2m at 0.72 g/t Au from 89m

These results, which are spread all along the gold in soil anomaly confirm the substantial scale at the Kokoseb gold discovery.

The last results from the infill soils have extended the Kokoseb gold anomaly a further 900m on the eastern flank (Figure 4). Kokoseb appears as a contact like aureole of the central granitic pluton, with a diameter of approximately 3km in each direction.

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