WPG Resources : 2017-06-15 WPG Corporate Presentation

Corporate Presentation June 2017 DISCLAIMER

Note 1: The information pertaining to the Challenger gold project ore reserve estimate was detailed in the market announcement entitled "Challenger 30 June 2016 Mineral Resource and Ore Reserve estimate" released on 25 October 2016 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed except to the extent of production since the mine was brought back into production in late May 2016.

The information pertaining to the Challenger gold project mineral resource estimate was detailed in the market announcement entitled "Challenger mineral resource continues to grow" released on 1 June 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

The information pertaining to the Challenger gold project exploration target were detailed in the market announcement entitled "Exploration target for Challenger M3 and SEZ shoots" released on 22 May 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement.

The information pertaining to the Challenger gold project exploration activities and results were detailed in the market announcements entitled "March 2017 Quarterly Activities Report" released on 28 April 2017, "Encouraging gold assays continue from Challenger Deeps" released on 17 May 2017 and "Gold drilling at Challenger Deeps continues at depth released on 29 May 2017 and are available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in those announcements.

Note 2: The information pertaining to the Tarcoola gold project ore reserve estimate was detailed in the market announcement entitled "Tarcoola updated Feasibility Study and Ore Reserve Estimate" released on 1 September 2016 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed except to the extent of production since the mine came into production in December 2016.

The information pertaining to the Tarcoola gold project mineral resource estimate was extracted from the report entitled "December 2012 Quarterly Report" released on 24 January 2013 and is available to view on www.asx.com.au. The information for both projects was first disclosed by Mungana Goldmines Ltd under the JORC Code 2004. WPG has not undertaken any work on the project that would impact this published resource estimate. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

The information pertaining to the Tarcoola gold project exploration activities and results were detailed in the market announcement entitled "March 2017 Quarterly Activities Report" released on 28 April 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement.

Note 3: The information pertaining to the Tunkillia gold project mineral resource estimate was detailed in the market announcement entitled "Tunkillia resource estimate enhanced at higher cut-off grade" released on 4 February 2015 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

The latest information pertaining to the Tunkillia gold project exploration activities and results were detailed in the market announcement entitled "Encouraging gold assays received from Tunkillia drilling" released on 4 May 2016 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement.

Note 4: This document may include forward-looking statements. Forward-looking statements include, but are not limited to statements concerning WPG's planned mining and exploration programs and other statements that are not historical facts. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. In addition, summaries of Exploration Results and estimates of Mineral Resources and Ore Reserves could also be forward looking statements. Although WPG believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

WPG cannot guarantee the accuracy and/or completeness of the figures or data in this presentation

All dollar amounts indicated in this presentation are in Australian dollars unless otherwise stated 2

*based on substantial shareholders to

date

Share Price (A$)

Volume

Millions

CORPORATE OVERVIEW (ASX: WPG)

Indicative Capital Structure as at 15 June (pre Entitlement Issue)		Substantial Shareholders as at 15 June (pre Entitlement Issue)
Share price (14 June 2017)	$0.049
		Bob Duffin	62,469,010	6.9%
Issued shares	905.9m
		L&M Group Limited	59,375,000	6.5%
Unlisted options $0.11, expire 30 Sep 2018	37.5m
		Jalinsons Pty Ltd	46,566,664	5.1%
Incentive rights (none vest before June 2017)	16.8m
Unlisted Placement options $0.08 exercise price, expiry date 30 June 2019	75m*	Board of Directors
		Bob Duffin	Executive Chairman
*subject to shareholder approval Veritas Securities Limited was Lead Manager for the Placement and Adelaide Equity Partners Pty Ltd acted as a Corporate Adviser
			Helen Wiseman	Lead Independent Director
			Gary Jones	Non-Executive Director
Proposed Entitlement Issue*
		Lim See Yong	Non-Executive Director
Offer price of New Shares	$0.048
		Cornel Parshotam	Alternate Director (Gary Jones) & COO
Maximum amount to be raised under the Offer before costs	$5.4m
		0.12 20
Maximum number of New Shares to be issued (one share for every eight shares held on the Record Date)	113.2m
		Trading Volume Share Price
		18
Maximum number of New Options to be issued (one free $0.08 exercise price unlisted New Option for every two New Shares acquired)	56.6m
		0.10
		16
		14
		0.08
Eligible shareholders can apply for additional Shares	12
Maximum Shares on issue after the completion of the Entitlement Issue	1,019m	0.06 10
		8
* Expected record date 27 June 2017 Pending finalisation and execution of formal documentation, it is expected that Veritas Securities Limited will be Underwriter for the Entitlement Issue subject to customary conditions and terminating events		0.04 0.02		6 4
Use of funds		2
		0.00 0
The funds raised by the Placement and proposed Entitlement Issue will be used for the Challenger mill expansion, mine development, exploration and for general working capital purposes.
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CAPITAL RAISING OVERVIEW

Transaction Size & Structure	WPG successfully completed a Placement of A$7.2m, issuing 150m New Shares to sophisticated and institutional investors at an offer price of A$0.048 per new share 1-for-2 attaching unlisted option with exercise price of A$0.08 and expiration date of 30 June 2019 - subject to shareholder approval Veritas Securities Limited was Lead Manager for the Placement and Adelaide Equity Partners Pty Ltd acted as a Corporate Adviser WPG propose to conduct an Entitlement Issue for existing Shareholders, raising ~A$5.4m Placement investors eligible to participate in the proposed Entitlement Issue Placement price of $0.048 per new share represents a discount of: 35.1% to WPG closing price of A$0.0740 as at 5 June 2017 24.5% to WPG 15-day VWAP of A$0.0636 up to and including 5 June 2017
Proposed Entitlement Issue	Proposed 1-for-8 Entitlement Issue at an offer price of A$0.048 per new share 1-for-2 attaching unlisted option with exercise price of A$0.08 and expiration date of 30 June 2019 - not subject to shareholder approval Top-Up Offer available Indicative Record Date (subject to finalisation of Prospectus) 27 June 2017 Pending finalisation and execution of formal documentation, it is expected that Veritas Securities Limited will be Underwriter for the Entitlement Issue subject to customary conditions and terminating events
Use of Funds (Placement & Proposed Entitlement Issue)	Funds raised: A$12.6m (assuming 100% take-up of Entitlement Issue) Expenditure on Challenger mill expansion: A$1.5m Challenger underground development (M3/SEZ, Challenger Deeps) A$4.7m Challenger exploration (M3/SEZ, Challenger West, M1/M2, Challenger Deeps) A$2.1m Tarcoola and other exploration A$0.5m Working Capital and Costs of Offer A$3.8m

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