Wiluna Mining Corporation Ltd: Quarterly Activities Report

Perth, Australia - Wiluna Mining Corp. Limited (ASX:WMC) (FRA:NZ3) (OTCMKTS:WMXCF) is a Western Australian based gold mining company that owns and operates the Wiluna Mining Operation. The Wiluna Mining Operation is located at the northern end of the Western Australian Goldfields approximately 530 km north of Kalgoorlie and is 900 km northeast, and one and a half hours by direct flight, from Perth.

The Wiluna Mining Operation has an endowment (historic and current) of over 11 million ounces and currently has a Mineral Resource of 8 million ounces which is the 8th largest gold district in Australia under single ownership.

The Wiluna Mining Operation is currently in development with a two-staged, 3-year program underway to transform Wiluna from a modest, cashflow positive producer of free milling ore via a conventional Carbon-In-Pulp (CIP) plant to a multi circuit operation producing circa 250kozpa. The staged development plan, on completion, will enable Wiluna to treat all the ore types at Wiluna through four processes including;

- Existing 2.1Mtpa CIP process plant;

- 750,000 tpa flotation concentrator which is 90% complete and will be commissioned in December 2021, scalingup to 1.5 Mtpa capacity by FY 2024;

- Gravity circuit which produces gold dore; and

- Tailings retreatment plant which links tailings reclaim and reslurrying with the existing CIP circuit to producegold dore.

Stage 1 development is defined at a production profile of 120kozpa. The final size and shape of the Stage 2 development at the Wiluna Mining Operation will depend on the conclusions from the Feasibility Study currently taking place. This Feasibility Study includes significant Resource and Reserve drilling which is aiming to add an additional 500koz to the current Underground Ore Reserve of 661koz @ 4.74 g/t. These updated Ore Reserves are expected to be published at the end of Q3 FY 2022.

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About Wiluna Mining Corporation Ltd:

Wiluna Mining Corp. (ASX:WMC) (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