Wiluna Mining Corporation Ltd: First Concentrate Shipment Departs Fremantle

Perth, Australia - Wiluna Mining Corp. Limited (ASX:WMC) (FRA:NZ3) (OTCMKTS:WMXCF) is pleased to announce that its first shipment of gold in concentrate has departed the Port of Fremantle bound for offtake partner Polymetal International plc (Top 10 gold producer, LSE listed; GBP5 billion market capitalisation).

Wiluna's logistics contractor, Qube Bulk delivered the concentrate from Wiluna's mine via road and rail to their facility at the port of Fremantle where it was loaded onto the ship which left on Sunday 27 February.

WMC can further confirm that the first seven shipments are in the process of being locked in with the second shipment of 20 containers loaded and on its way to Fremantle with an estimated early March departure date. The third shipment, which will likely be 50 containers, is also confirmed and will be shipped to off-take partner Trafigura. It is due to depart Fremantle in mid-March. This will be the first shipment to Trafigura who, like Polymetal International plc, signed an offtake contract for the first three years of production in a contract announced to the ASX in March 2020.

To date, 2,690 wet tonnes of gold in concentrate, which is the equivalent to ~5,650/oz of gold, has been produced with the ramp-up to full steady-state commercial in progress.

WMC is also pleased to report that the Wiltails tailings retreatment facility that is expected to produce ~15kozpa is 30% complete and expected to be commissioned in Q2 CY'22. This will make a material difference to Stage 1 production at Wiluna from the date of commissioning.

Milan Jerkovic, Wiluna Mining's Executive Chair commented:

"The departure of our first shipment is a great milestone for WMC. The concentrator is performing well and concentrate production is ramping up. Along with Wiltails, which is due to be commissioned in Q2 CY'22, we hope to be producing at steady-state commercial production of an annualised 100kozpa + by Q3 CY'22"

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