Great Western Mining Corporation PLC Regulatory News (GWMO)

Great Western Mining Corporation PLC

("Great Western Mining", "GWM", the "Group" or the "Company")

Half Yearly Report and Unaudited Condensed Financial Statements

Results Highlights

· The Group reports a loss for the period of €393,988 (30 June 2017: €259,674, 31 December 2017: €696,294)

· Basic and diluted loss per share (cent): €0.001 (30 June 2017: €.0001, 31 December 2017: €0,001)

· At 30 June 2018 net current assets were €1,610,637 (30 June 2017: €1,802,544, 31 December 2017: €2,766,308)

· The Group has no debt as at 30 June 2018 (30 June 2017: €Nil, 31 December 2017: €Nil).

Chairman's and Chief Executive's Statement:

Enclosed is Great Western Mining Corporation PLC's Report and Half Year Results for the period ending 30 June 2018. The Group continues to concentrate on the exploration and appraisal of its claims in Mineral County, Nevada so is not yet generating revenue. The Group reports a loss for the period of €393,988 (30 June 2017: €259,674, 31 December 2017: €696,294). At 30 June 2018 net current assets were €1,610,637 (30 June 2017: €1,802,544, 31 December 2017: €2,766,308). The Group has no debt as at 30 June 2018 (30 June 2017: €Nil, 31 December 2017: €Nil).

The Group is currently drilling on two of its project areas in Nevada: M2 and M4.

1. M2: an eight-hole reverse circulation ("RC") drill programme has been carried out in the period to explore and appraise open pit copper mining potential on the west flank of Black Mountain, concurrently with a diamond core drilling programme on the M2-Sharktooth Zone at the centre of the mountain. The target at Sharktooth is a potential deep, high-grade Iron Oxide Copper Gold ("IOCG") deposit and the objective of the current drilling is to intercept the source of the mineralising fluids which have created the current M2 mineral resource area.

Assay results from the eight RC holes have been correlated with 32 RC holes previously drilled by the Company. The data has been uploaded into geological software packages and is currently being analysed by the Company's geological team and external consultant.

The 2014 M2 resource is relatively shallow, with intercepts to a depth of only 60 metres included in the calculation. However, there is scope for the resource to be increased by including the encouraging intercepts encountered at a greater depth. The M2 open pit potential is also open in all directions and the group is evaluating a further phase of infill and step out drilling, which has the potential to deliver an increase in the quantum of mineral resource and an upgrade of the JORC classification to 'Measured & Indicated'.

2. M4: The initial phase is a programme of 6-9 drill holes aggregating up to 1,500 metres of drilling. The objective is to test the thickness of copper oxide mineralisation, already identified at surface, and to intercept IP anomalies indicated by the Company's Resistivity Report conducted by Zonge Geosciences. In addition, Great Western's geological field team has undertaken a comprehensive programme of mapping and sampling in the area between M4 and M2 where it is believed that the mineralisation could prove to be continuous, further highlighting the significant potential of the area.

During the period the Group increased its land position in Mineral County, Nevada with the addition of 66 unpatented claims at M2, 32 unpatented claims at M4 and 10 unpatented claims at M8. These new claims have increased the overall land position held by the Group in Mineral County by approximately 12% to 1,004 unpatented claims, covering a total land area of approximately 82 km².

Since the end of the reporting period the Company has successfully completed a placing of new Ordinary Shares, raising gross proceeds of £1,001,000. The net proceeds are being used to accelerate activity in Nevada.

During the period Great Western successfully applied to the Irish High Court for the authority to cancel the Deferred Shares of €0.0099 each in the share capital of the Company. The Deferred Shares were issued as part of a share capital reorganisation approved by a Special Resolution at the Company's Annual General Meeting ("AGM") on 19 May 2016 and amended by a Special Resolution at the AGM on 18 May 2017.

The Group's strategic objectives for its principal activities, being the exploration and mining for copper, silver, gold and other minerals, are only achievable if certain risks are managed effectively. The Board has overall accountability for determining the type and level of risk it is prepared to take. The principal risks and uncertainties that may affect the Group's business remain unchanged from those set out in the 2017 Annual Report. The principal risks include, but are not limited to exploration risk, currency risk and of commodity price risk.

Certain statements made in this half-yearly report are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from the expected future events or results referred to in these forward-looking statements.

As always, the Board and management greatly appreciate shareholder support and look forward to reporting further results from the M2 and M4 drill programmes.

Enquiries:

Unaudited Condensed Consolidated Income Statement

For the six months to 30 June 2018

Unaudited Condensed Consolidated Statement of Other Comprehensive Income

For the six months to 30 June 2018

Unaudited Condensed Consolidated Statement of Financial Position

For the six months to 30 June 2018

Unaudited Condensed Consolidated Statement of Changes in Equity

For the six months to 30 June 2018

Unaudited Condensed Consolidated Statement of Changes in Equity (continued)

For the six months to 30 June 2018

Unaudited Condensed Consolidated Statement of Changes in Equity (continued)

For the six months to 30 June 2018

Unaudited Condensed Consolidated Statement of Cash Flows

For the six months to 30 June 2018

Unaudited Notes to the Condensed Financial Statements

For the six months to 30 June 2018

Please click below to view notes to financial statements

http://www.rns-pdf.londonstockexchange.com/rns/4723B_1-2018-9-20.pdf