WIN Advances Butchers Creek Towards Development Following Resource Update

WIN Metals Ltd (ASX: WIN) (“WIN” or “the Company”) is pleased to provide shareholders with an updated Mineral Resource Estimate (“MRE”) for its flagship Butchers Creek Gold deposit, part of the Butchers Creek Gold Project (“BCGP”) located in the East Kimberley region of Western Australia.

Highlights

• Updated Mineral Resource Estimate: Butchers Creek Gold Mineral Resource revised to 5.23Mt @ 1.G1g/t Au for 321,000oz of Gold
• Significant Increase in Indicated Resource: Indicated category up by 86% to 3.58Mt @ 2.24g/t Au for 258,000oz of Gold
• Project De-Risked: Updated Mineral Resource significantly enhances confidence for future Economic Evaluation
• Growth Focused 2025 Drill Program: Planned drilling to target high-priority, high- grade resource growth targets, including Golden Crown (currently 0.4Mt @ 3.1g/t Au Inferred Mineral Resource¹) with recent extensional drilling returned 6m @ 10.85g/t Au²
• Heritage survey scheduled: April survey ahead of the proposed July drill program

WIN Metals Managing Director and CEO, Mr Steve Norregaard, commented:

“Our first update of the Butchers Creek Mineral Resource following the successful maiden drill campaign completed late in 2024 has delivered an 8C% increase in the Indicated Resource. This paves the way for the Company to advance development studies while we continue to drill our other high-priority, high-grade targets.

With readily accessible mineralisation located immediately below the shallow open pit amenable to low-cost open pit mining methods, the opportunity to monetise this asset in the current high gold price environment is now an imperative.

To complement this great outcome, the Company will continue to enhance the resource base focussing on the Golden Crown area during the forthcoming dry season, building on the promising high-grade drill intersections reported last year.

The significant achievements by WIN during the short time we have held this project, and the opportunities we see in this underexplored goldfield in WA’s Kimberley region, provide a strong foundation for our future growth.”

This latest April 2025 MRE update increases the Mineral Resource to 321,000oz of gold at 1.G1g/t Au, with 258,000oz gold at 2.24g/t Au representing 80% of the MRE classified as Indicated available for economic studies for project development.

Table 1: Butchers Creek Gold Resource SummaryNote: Figures are rounded and reported at 0.5g/t cut-off to 150m below surface (open pit) and 0.8g/t below 150m of surface

This update reflects the successful conversion of an additional 11G,000oz at 2.24g/t Au into the Indicated category representing an 86% increase in Indicated gold resource ounces compared to the 2021 MRE¹ as demonstrated in the waterfall chart in Figure 1 below.

Figure 1: Mineral Resource Changes by Classification

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