Kingwest Resources Limited announced recent updates regarding the Menzies Gold Project, including high grade results from the recent RC infill drilling campaigns at the Stirling and Pericles Deposits within the Menzies Gold Project. Stirling and Pericles Infill Drilling: Kingwest recently completed an infill drilling program at the Pericles and Stirling Deposits within the Menzies Gold Project. Thirteen Reverse Circulation holes totaling 1,209 metres were completed in the program, with best results returned including: Pericles - KWR361: 2m @ 27.80g/t Au from 49m; KWR365: 4m @ 3.74 g/t Au from 32m - including 1m @ 7.95 g/t Au; from 32m and 1m @ 9.05g/t Au from 103m; KWR360: 1m @ 7.28 g/t Au from 50m; KWR364: 1m @ 6.70 g/t Au from 45m; KWR358: 2m @ 6.10 g/t Au from 50m.

Stirling - KWR369: 2m @ 10.61 g/t Au from 100m including 1m @ 17.08g/t from 100m; KWR367: 1m @ 10.22 g/t Au from 67m. The Pericles and Stirling deposits reflect the unique potential of the MGP, with near surface and high grade mineralisation confirmed. Both deposits are expected to be a key component of the project's future development post the planned merger with Brightstar Resources Ltd. This recent infill drilling programme was largely designed to improve confidence in the grade and mineralisation continuity within possible pit outlines and to target high grade extensions.

The programme has also highlighted opportunities for high grade down-dip extensions, which represent potential target drilling areas for underground mining. Selkirk Update: Kingwest's JV Partner, BML Ventures Pty Ltd. has confirmed that their metallurgical testwork has largely confirmed the high grade nature of the Selkirk deposit. Furthermore, Kingwest and BML Ventures have progressed discussions for a toll milling agreement with a regional processing facility.

Whilst Kingwest cautions that these discussions are ongoing and may not eventuate with this particular party, the high-grade characteristics of the Selkirk material is expected to be favourably received by parties with toll milling capacity. Recent engagement with BML Ventures indicates that mining at Selkirk is planned to commence in Quarter 3 of 2023 with an anticipated mining period of up to 5-6 months, followed by haulage and processing of the ore. As announced on 13th July 20223, BML is responsible for all capital costs, mining and haulage with profits split on an even (50:50) basis upon reconciliation of gold sales and project costs.

MENZIES GOLD PROJECT: The MGP is one of Western Australia's major historic gold fields. Located 130km north of the globally significant gold deposits of Kalgoorlie. The MGP covers a contiguous land package over a strike length in excess of 15km.

Within the MGP a series of structurally controlled high-grade gold deposits have been historically mined and display extensive exploration potential for high-grade extensions. Modern exploration since closure over 20 years ago has been limited prior to Kingwest acquiring the project in 2019. The MGP has recorded historical production of 643,200 oz @ 22.5g/t Au2 from underground (U/G) between 1895 and 1943 plus 145,000 oz @ 2.6g/t Au4 open cut between 1995 and 1999, for a total of 787,200 oz @ 18.9g/t4 Au.

The MGP is hosted within the Menzies Shear Zone. All deposits lie within granted Mining Leases and are 100% owned by KWR. Importantly the MGP lies on the Goldfields Highway, has power and water and is within trucking distance of numerous Gold Processing Plants.