Mineral Resources

Mt Edwards Project Mineral Resources

The Mt Edwards Project represents one of the largest known unmined nickel sulphide Mineral Resource in Australia, currently comprising 11.136 Mt at 1.5% Ni for 170,311 nickel tonnes. Importantly it is in a renowned nickel region hosting a number of significant producing mines and with downstream processing infrastructure nearby. The BHP Kambalda concentrator is located approximately 40km to the north-east of the Mt Edwards Project. However, the nature of the deposits also presents the opportunity for a standalone nickel concentrator at the Project.

Table 1 – Nickel Mineral Resource estimates for the deposits comprising the Mt Edwards Project

Notes:

1. Mineral Resources quoted using a 1% Ni block cut-off grade. Small discrepancies may occur due to rounding.
2. Refer to the Widgie Nickel ASX announcement dated 23 January 2023 titled 'Gillett Mineral Resource Expands in Size and Confidence, with Further Near-Term Growth Potential'.

Table 2 – Lithium Mineral Resource estimates for the Faraday-Trainline Lithium Project

Notes:

1. Maiden Resource Proves Up Faraday DSO Starter Pit Opportunity 29/03/2023 Li₂O unit comparison
2. 0.85% Li₂O cut-off
3. Reporting 0.30% Li₂O cut-off grade above 310mRL, 0.5% Li₂O cut-off grade below 310mRL
4. Tonnes and grades have been rounded to reflect the relative uncertainty of the estimate
   

Competent Person statements

The information in this Website that relates to Exploration Results is based on, and fairly represents, information compiled and conclusions derived by Mr William Stewart who is a Member of the Australian Institute of Metallurgy and Mining (member no 224335). Mr Stewart is a full time employee of Widgie Nickel Ltd. Mr Stewart has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a ‘Competent Person’ as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code).

Compliance statement

Exploration Results and estimates of Mineral Resources in this Website have been prepared and reported in accordance with the JORC Code.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified form the original market announcements.