Completion of the Mt Henry-Selene Gold Project Divestment

Executive Summary

• Westgold Resources completed the divestment of its Mt Henry‑Selene Gold Project to Alicanto Minerals, with total consideration rising to $110 M (up from $64.6 M previously announced).
• The increased value reflects Westgold’s 19.9% shareholding in Alicanto appreciating since the transaction was first disclosed on 17 Dec 2025.
• The sale supports Westgold’s strategy to simplify its portfolio, with further divestments (Peak Hill, Chalice) and a planned IPO of Valiant Gold slated for late March 2026.

Key Details

• Total consideration: $110 M (previously announced $64.6 M).
• Valuation basis: Westgold’s 19.9% stake in Alicanto valued at $2.02 per share (close of 13 Feb 2026).
• Transaction purpose: Simplify portfolio, monetize non‑core/non‑operational assets, and unlock shareholder value.
• Future drilling program: Alicanto intends to commence a 50,000 m multi‑rig drilling campaign at Mt Henry; Westgold will participate in any resulting exploration successes as a significant shareholder.
• Additional portfolio actions: Ongoing divestments of Peak Hill and Chalice gold assets; planned IPO of Valiant Gold (proposed ASX code: VAL) targeting listing in late March 2026.
• Advisers: Argonaut (financial adviser), Thomson Geer (legal adviser).
• Authorization: Announcement authorised for release to the ASX by Westgold’s Board.

Notable Quotes

“The transaction with Alicanto unlocks value for Westgold shareholders from assets not within our three‑year outlook… Upon completion, these transactions will finalise the rationalisation of our portfolio.” – Wayne Bramwell, Managing Director and CEO, Westgold Resources Ltd.