Wiluna Mining Corporation Ltd: Development Update

Perth, Australia - Wiluna Mining Corp. Limited (ASX:WMX) (FRA:NZ3) (OTCMKTS:WMXCF) is pleased to provide an update on mine development activities in support of our 24-month, five-point Wiluna Development Strategy to;

1. Strengthen the balance sheet

2. Increase operational cash flow

3. Transition to include gold concentrate production

4. Expand production, and

5. Undertake exploration and feasibility studies to fully develop a 250kozpa, long life gold operation.

Stage 1 of the Development Plan, targeting an increase in gold production to 120kozpa, is currently progressing. Construction of the new flotation circuit to produce gold in concentrate in addition to gold dore has commenced with GR Engineering Services mobilised to site, pad preparation is completed and pouring of the concrete foundations are underway. Long lead time equipment orders have been placed, and early works contracts awarded.

Byrnecut Australia were mobilised in mid- November 2020 and have already completed in excess of 2km of decline and level development rehabilitation for access to initial stoping blocks. Repairs and upgrades of primary ventilation and dewatering networks are progressing to plan ahead of ore production which will commence in Q3 2021.

Open pit mining has been completed at Williamson Open Pit and MACA contracting staff and equipment have been demobilised. Over 600kt of stockpiled Williamson ore will continue to provide the majority of ore feed to the CIL plant until the new flotation circuit has been commissioned.

Golden Age continues to provide valuable high-grade ore for the free milling circuit. Recent resource development drill testing of the newly discovered eastern extension returned excellent intersections (see ASX announcement 10 March 2021). We will continue to drill out this extension with the intention to bring it into production in the next quarter.

Milan Jerkovic, Wiluna Mining's Executive Chair commented:

"Outstanding progress has been made by our Projects and Operations teams and key contractors as we prepare to ramp up underground operations to supply sulphide ore feed to the new flotation concentrator currently under construction at Wiluna. Ensuring the success of these two activities through 2021 is the primary focus of our business as our people work to deliver upon our promise to transform the Wiluna Mining Centre into a significant producer of gold dore and gold in concentrate.

At the same time, we are drilling to expand our resources and reserves for inclusion in the Stage 2 Feasibility Study due to be completed by the end of this year. We continue to explore ways to mine and process more efficiently, sustainably and profitably for the benefit of our shareholders and stakeholders.

Of course, to realise the vision we have for Wiluna requires partnerships with leading industry players and we are particularly proud to have attracted support from GR Engineering Services for process engineering, plant design and construction and Byrnecut Australia to construct and operate the mine as well as our offtake partners Polymetal and Trafigura.

I look forward to keeping you briefed on our progress through this year".

To view the full staged development program, please visit:
https://abnnewswire.net/lnk/GRNJ5845

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 8.04M oz at 1.67 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