Wiluna Mining Corporation Ltd: Drilling Results - Progress Report

Perth, Australia - Wiluna Mining Corp. Limited (ASX:WMX) (FRA:NZ3) (OTCMKTS:WMXCF) is pleased to provide a progress update on further high-grade results from an additional 32 holes and 8,127m of resource development and discovery drilling at the Wiluna Mining Centre.

HIGHLIGHTS

- Multiple shallow high-grade results from resource development drilling at Wiluna Mining Centre

- High-grades up to 15.1g/t assayed in previously un-sampled historical core.

- Seven drill rigs recommenced drilling in January targeting new sulphide ore shoots, and infill drilling to grow the Sulphide Development Resources and Reserves.

- Seismic survey has commenced to map extensions of known gold structures and define new drill targets.

Multiple significant intercepts from 56 holes and 7,525m of previously un-sampled mineralisation identified in the large historical core library at the Wiluna mine site.

Resource and reserve development programs at the Wiluna Mining Centre are designed to follow-up positive drilling results reported through the past 12 months. The drilling program focuses on highest-value deposits scheduled for mining in the next 4 years to further strengthen the sulphide mine plan, with results reported here from Essex, Bulletin and West Lode South zones. The Company has currently deployed 7 rigs at the Wiluna operation with drilling accelerating in January 2021.

Wiluna Mining's drilling strategy in the past 12 months has successfully defined thick high-grade intervals at shallow levels, close to multiple previously mined zones with available access for rapid low-cost development (Figure 1). These results demonstrate that the Wiluna orebody is a very large scale and high-grade gold system.

Further updates to our Mineral Resource and Ore Reserve will be released in the first quarter of 2021, building on the recently updated Resource Estimate (see ASX release 5 November 2020). The Company has chosen to delay its publication of an updated Ore Reserve (originally slated for January 2021) to include excellent drill results from the Bulletin South zone (see ASX releases 27 October 2020 and 17 November 2020) that are expected to make a material and valuable contribution to the life-of-mine plan and Ore Reserves.

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About Wiluna Mining Corporation Ltd:

Wiluna Mining Corp. (ASX:WMX) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 6.4 Moz at a grade of 2.1 g/t Au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.

Source:
Wiluna Mining Corp. Ltd

Contact:

Milan Jerkovic Executive Chair +61 8 9322 6418 Jim Malone General Manager Investor Relations +61 419 537 714 Dannika Warburton Media & Communications +61 401 094 261