WRES.L Regulatory News (WRES)

W Resources Plc

Michael Masterman

T: +44 (0) 20 7193 7463

www.wresources.co.uk

Grant Thornton UK LLP

Colin Aaronson / Jen Clarke / Harrison Clarke

T: +44 (0) 20 7383 5100

SI Capital

Andy Thacker / Nick Emerson

T: +44 (0) 1483 413500

www.sicapital.co.uk

Gable Communications

Justine James

T: +44 (0) 20 7193 7463

M: +44 (0) 7525 324431

Hole ID

Easting

Northing

RL

Azimuth

Dip

Length

(m)

From (m)

To

(m)

Drilled width (m) (1)

True Thick-ness (m)

Au

(g/t)

SMD004

621000

4341595

301

45

-45

200

15.00

16.00

1.00

1.00

0.32

and

21.30

22.60

1.30

1.30

0.80

and

26.70

27.70

1.00

1.00

0.80

and

32.90

35.30

2.40

2.40

4.23

and

44.30

49.00

4.70

4.70

0.33

and

59.60

60.75

1.15

1.13

0.36

and

89.00

107.00

18.00

16.91

1.73

and

157.00

169.00

12.00

11.28

1.63

and

175.00

180.00

5.00

4.70

1.97

and

187.60

193.60

6.00

5.64

2.70

SMD005

621108

4341464

303

0

-90

140

67.00

70.57

3.57

3.35

1.31

and

73.60

74.60

1.00

0.94

1.02

and

83.60

85.60

2.00

1.88

0.84

and

94.60

95.60

1.00

0.94

0.33

and

128.60

129.60

1.00

0.94

0.31

SMD006

621065

4341252

313

0

-90

116

26.00

28.00

2.00

1.99

0.90

and

69.00

70.00

1.00

1.00

0.30

and

100.00

101.00

1.00

1.00

0.46

SMD007

621184

4341219

318

0

-90

130

18.00

19.00

1.00

0.91

0.36

and

21.00

23.00

2.00

1.81

1.55

and

78.00

79.00

1.00

0.91

0.39

and

104.70

107.70

3.00

2.72

2.15

SMD008

622033

4340525

336

0

-90

95

6.80

9.80

3.00

3.00

0.33

SMD009

622350

4340405

329

32

-60

200

2.60

59.00

56.40

51.12

2.34

and

73.00

75.00

2.00

1.81

0.75

and

83.00

85.00

2.00

1.81

0.46

and

111.00

113.00

2.00

1.81

0.69

and

149.00

151.00

2.00

1.81

0.44

and

194.95

198.50

3.55

3.22

1.69

Criteria

JORC Code explanation

Commentary

Sampling techniques

· Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

· Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

· Aspects of the determination of mineralisation that are Material to the Public Report.

· In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

· Rock chip sampling from outcrops and trenches was performed to determine whether a prospective precious metal bearing structures/alteration zones may yield any anomalous gold/silver values and not to determine average grades.

· Samples weighing from 500 g to 1 kg were taken from each sampling location, and its position was recorded with a hand-held GPS.

· Core drilling was used to obtain core samples.

· Sampled intervals included zones of visible sulphide mineralization and alteration/veining along with zones of gossanization. Sampling was taken also above and below mineralization/alteration on 1- 2m intervals when applicable.

· All rock samples were packed on thick plastic bags with sample reference indicated both in the outside and inside with permanent ink marker pens in the outside and inside.

Drilling techniques

· Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

· Drilling was undertaken with a track mounted SPIDRILL-18 drill rig.

· HQ wireline core (63.5mm diam.) was recovered systematically during the drilling campaign.

· All holes were located with a hand held GPS. Data for Eastings, Northings and RL was recorded on UTM grid, Zone 29, datum WGS84.

Drill sample recovery

· Method of recording and assessing core and chip sample recoveries and results assessed.

· Measures taken to maximise sample recovery and ensure representative nature of the samples.

· Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

· Sample recovery was assessed visually, recorded onto a logging sheet, photographed and inserted in an Excel spreadsheet.

Logging

· Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

· Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

· The total length and percentage of the relevant intersections logged.

· Logging was performed after core fragment reconstruction in the core trays, and a line was marked along the core axis.

· Geotechnical core logging was systematically done. Data collection (recovery, RQD, joint orientation, spacing, roughness and weathering) was recorded onto a log sheet and inserted in an Excel spreadsheet.

· Geological core logging was systematically done. Data collection (lithology, alteration, structural data mineralisation and sampling intervals) was recorded onto a log sheet and inserted in an Excel spreadsheet.

· All drill holes have been systematically logged both descriptive and stringer-coded for digital processing and output with specific software.

Sub-sampling techniques and sample preparation

· If core, whether cut or sawn and whether quarter, half or all core taken.

· If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

· For all sample types, the nature, quality and appropriateness of the sample preparation technique.

· Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

· Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

· Whether sample sizes are appropriate to the grain size of the material being sampled.

· The core was cut with a diamond saw along a line marked in the centre of the core, splitting the core into two equal halves. One half of the HQ core sample intervals selected was sent for analysis and the remaining half was kept in wooden core boxes for storage and future reference.

· The core samples were shipped to ALS Laboratory in Seville, Spain for assay.

· At ALS facilities, samples were crushed (70%mm) to produce a representative sub-sample for analysis by: Four acid digestion and multielement ICP-ME (ref. ME-MS61) determination of 48 elements and gold by Fire Assay and ICP-AES finish.

· The following elements were included in the analysis: Ag,Al,As,Au,Ba,Be,Bi,Ca,Cd,Ce,Co,Cr,Cs,Cu,Fe,Ga,Ge,Hf,In,In,K,La,Li,Mg,Mn,Mo,Na,Nb,Ni,P,Pb,Rb,Re,S, Sb, Sc,Se,Sn,Sr,Ta,Te,,Th,Ti,U,V,W,Y,Zn,Zr.

Quality of assay data and laboratory tests

· The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

· For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

· Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

· Internal laboratory cross checking methods are implemented by ALS.

· In addition, internationally certified standards and blanks were regularly introduced every 25 samples (2 standards plus 1 blank).

· Values returned for standards and blanks indicate that acceptable levels of accuracy and precision have been established.

· Assay data reported as per laboratory final reports and certificates

Verification of sampling and assaying

· The verification of significant intersections by either independent or alternative company personnel.

· Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

· Discuss any adjustment to assay data.

· Verification of significant intersections by alternative company personnel.

· Primary logging paper sheets stored at office, data entered into Excel spreadsheets as is and coded, both stored in the server and in an external hard drive.

· All core boxes are photographed and a photo archive is maintained within the drilling database.

Location of data points

· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

· Specification of the grid system used.

· Quality and adequacy of topographic control.

· Hole locations survey wth hand-held GPS with 2-5m accuracy.

· Grid system - UTM, Zone 29, Datum WGS84.

Data spacing and distribution

· Data spacing for reporting of Exploration Results.

· Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

· Whether sample compositing has been applied.

· Completed drill holes were designed for testing different targets and have irregular spacing.

· Data spacing and distribution are expected to be sufficient to establish in parts an Inferred Mineral Resources estimation.

Orientation of data in relation to geological structure

· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

· If the relationship between the trench orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

· Hole orientation is in either vertical or in some cases approximately perpendicular to the strike of the mineralized zones.

· The channel samples are not perpendicular to the planes of the mineralized zones, therefore the intersections do not represent true widths.

Sample security

· The measures taken to ensure sample security.

· Samples are kept labelled and organised in a locked building.

· Industry standard practices are applied.

Audits or reviews

· The results of any audits or reviews of sampling techniques and data.