Kingwest Resources : Sir Laurence Gold Discovery Continues to Grow

Kingwest Resources Ltd

ASX: KWR

onlyShares on Issue 242,973,025

Directors & Management

Chairman

Gregory Bittar

useCEO

Ed Turner

Non Executive Directors

Adrian Byass

Jonathan Downes

Jon Price

personalComp ny Secretary Stephen Brockhurst

Principal Place of Business

Unit 3, Churchill Court

335 Hay Street

Subiaco WA 6008

Registered Office

L v l 11

216 St Georges Terrace

Perth WA 6000

Contact

ForT 08 9481 0389

[e-mail] www.kingwestresources.com.au

Investor Relations

Lucas Robinson

T [phone]

1. [e-mail]

3 March 2022

Sir Laurence Gold Discovery Continues to Grow

• 62 aircore holes for 4,065m prove further extensions to the Kanowna Belle style Sir Laurence Discovery at Lake Goongarrie
• Significant bedrock mineralisation in three different host rocks over + 2km strike length and +1km laterally
• Significant gold intercepts on every line of drilling, including: 24m @ 0.6 g/t Au inc. 4m @ 3.2 g/t Au in KGA0811
  13m @ 0.9 g/t Au inc. 1m @ 4.5 g/t Au in KGA0781 4m @ 1.0 g/t Au in KGA0782
  3m @ 1.1 g/t Au in KGA0799
• Mineralisation remains open in all directions
• Initial, expanded 4,000m diamond core drilling programme to follow

CEO, Ed Turner commented "This extensional aircore drilling has continued to grow the Sir Laurence Gold Discovery and we have still not defined the limits of gold mineralisation. It is very encouraging to intercept bedrock mineralisation as well as alluvial gold mineralisation over such a large area and in different host rocks. This demonstrates the significant size of the mineralised system and the growth potential remains.

The planned initial diamond core drilling program has been expanded to 4,000m as a result of these successful aircore drill results and a further expansion is foreseeable. However, the start of the program continues to experience delays due to ongoing Covid related personnel and equipment related issues which are being experienced across the industry. Drilling will commence as soon as the necessary lake terrain modifications to the rig are complete. This next phase of drilling will be a critical programme in delineating the primary mineralised controls within Sir Laurence so we will be in a position to potentially define economic gold resources in the future."

For personal use only

DISCUSSION OF RESULTS

62 additional aircore drillholes (KGA0754 - KGA0814, KGA0798B) were drilled for 4,065 metres (Figure

1). N.B. The oval shape labelled "Sir Laurence Gold Discovery" in Figure 1 outlines the approximate limits of significant gold mineralisation defined by the 2021 drilling. The 2022 programme comprised extensional (step out) drilling of the Sir Laurence Prospect and therefore many of these new results are outside of this shape.

All assays have been received and significant intersections are included in Table 1.

These holes intersected additional gold mineralisation beyond the limits of that previously defined mineralised area, which remains open to the north, south, east and west. Gold mineralisation is now being found in at least three different bedrock rock types, is associated with a variety of different interpreted geological structures, and also occurs throughout the overlying alluvial sequence.

Significant gold results continue to be present on all aircore lines drilled to date, and gold has now been intersected over an east-westwidth of 1.1km and a north-southstrike of 2km. The new intersection of 24m at 0.6 g/t Au, including 4m @ 3.2 g/t Au, on Line LS demonstrates the potential continuity of gold mineralisation between the 500m spaced previous Lines K and L.

These new aircore gold results are adding further targets to the imminent diamond drilling program and more precisely defining these present targets.

Figure 1 and Table 1 show the gold highlights over 0.1g/t Au for the current phase of aircore drilling. Lines are labelled A to L in black on Figure 1. Drillholes referred to in this announcement are represented with larger coloured dots whereas drillholes completed in 2021 are represented with smaller colour dots.

Table 2 summarises the bedrock geological setting of the gold highlights on Figure 1. This illustrates the variety of rock types and structural settings that are gold mineralised. All drillhole collar information is included in Table 3.

In addition there is significant gold in the overlying alluvium, both within the proximal basal gravels and at higher levels in the Tertiary alluvial sequence. Some of the source areas for this alluvial gold appear to lie outside the limits of present area of drilling, just 'upstream' to the immediate west and northwest, of Sir Laurence. These areas lie beneath the least accessible, deeply boggy central area of Lake Goongarrie which the aircore rig and backup vehicle have struggled to access. These will be accessed and drilled more effectively by the purpose-built lightweight diamond drill rig when it arrives onsite.

For personal use only

Figure 1: Significant 2022 Sir Laurence aircore drill results on magnetics background. 2022 holes are represented by larger dots, 2021 holes by smaller dots. Oval shape represents the 2021 limits of mineralisation.

For personal use only

Table 1 : Significant 2022 drill intersections (> 0.1 g/t Au)

		Depth	Depth	Interval	Au
Line	Hole ID	From (m)	To (m)	(m)	(g/t)	Comment	Description
AS2	KGA0755	44	48	4	0.12	Bedrock	4m @ 0.12 g/t Au from 44m
AS2	KGA0756	28	32	4	0.16	Bedrock	4m @ 0.16 g/t Au from 28m
AS2	KGA0756	64	73	9	0.43	Bedrock	9m @ 0.43 g/t Au from 64m
AS2	KGA0761	48	51	3	0.20	Bedrock	3m @ 0.20 g/t Au from 48m
AS2
KGA0762	44	45	1	0.11	Bedrock	1m @ 0.11 g/t Au from 44m
AS2	KGA0768	40	44	4	0.19	Bedrock	4m @ 0.19 g/t Au from 40m
AS2	KGA0769	52	60	8	0.26	Bedrock	8m @ 0.26 g/t Au from 52m
AS2	KGA0770	60	61	1	0.18	Bedrock	1m @ 0.18 g/t Au from 60m
A
KGA0778	44	48	4	0.17	Bedrock	4m @ 0.17 g/t Au from 44m
CN	KGA0780	52	56	4	0.11	Alluvial	4m @ 0.11 g/t Au from 52m
CN	KGA0781	32	36	4	0.13	Alluvial	4m @ 0.13 g/t Au from 32m
CN	KGA0781	60	73	13	0.88	Alluvial/bedrock	13m @ 0.88 g/t Au from 60m
CN
Inc.	72	73	1	4.54	Bedrock	1m @ 4.54 g/t Au from 72m
CN	KGA0782	64	68	4	1.02	Alluvial	4m @ 1.02 g/t Au from 64m
CN	KGA0782	72	76	4	0.27	Bedrock	4m @ 0.27 g/t Au from 72m
CN	KGA0784	52	56	4	0.14	Alluvial	4m @ 0.14 g/t Au from 52m
CN	KGA0785	32	36	4	0.39	Alluvial	4m @ 0.39 g/t Au from 32m
D	KGA0787	68	72	4	0.28	Alluvial/bedrock	4m @ 0.28 g/t Au from 68m
D	KGA0789	56	60	4	0.13	Alluvial	4m @ 0.13 g/t Au from 56m
D	KGA0789	68	72	4	0.14	Alluvial/bedrock	4m @ 0.14 g/t Au from 68m
E
KGA0796	68	72	4	0.33	Alluvial/bedrock	4m @ 0.33 g/t Au from 68m
E	KGA0796	72	75	3	0.14	Bedrock	3m @ 0.14 g/t Au from 72m
E	KGA0797	72	77	5	0.33	Bedrock	5m @ 0.33 g/t Au from 72m
E	KGA0798B	72	76	4	0.65	Alluvial/bedrock	4m @ 0.65 g/t Au from 72m
E
KGA0798B	76	81	5	0.40	Bedrock	5m @ 0.40 g/t Au from 76m
F	KGA0799	72	75	3	1.10	Alluvial/bedrock	3m @ 1.10 g/t Au from 72m
F	KGA0800	68	72	4	0.62	Alluvial	4m @ 0.62 g/t Au from 68m
F	KGA0800	72	76	4	0.15	Bedrock	4m @ 0.15 g/t Au from 72m
F	KGA0801	72	76	4	0.10	Alluvial	4m @ 0.10 g/t Au from 72m
H	KGA0802	80	84	4	0.12	Alluvial	4m @ 0.12 g/t Au from 80m
H	KGA0803	12	16	4	0.10	Alluvial	4m @ 0.10 g/t Au from 12m
H	KGA0803	36	40	4	0.14	Alluvial	4m @ 0.14 g/t Au from 36m
H	KGA0803	68	72	4	0.25	Alluvial	4m @ 0.25 g/t Au from 68m
J	KGA0806	72	76	4	0.24	Alluvial	4m @ 0.24 g/t Au from 72m
J	KGA0807	68	72	4	0.17	Alluvial/bedrock	4m @ 0.17 g/t Au from 68m
J	KGA0809	52	57	5	0.18	Bedrock	5m @ 0.18 g/t Au from 52m
LS	KGA0811	48	72	24	0.62	Alluvial	24m @ 0.62 g/t Au from 48m
LS	Inc	60	64	4	3.22	Alluvial	Inc 4m @ 3.22 g/t Au from 60m
LS	KGA0811	76	80	4	0.16	Bedrock	4m @ 0.16 g/t Au from 76m
LS	KGA0812	36	40	4	0.14	Alluvial	4m @ 0.14 g/t Au from 36m
LS
KGA0812	56	68	12	0.12	Alluvial	12m @ 0.12 g/t Au from 56m
LS	KGA0813	32	52	20	0.16	Alluvial	20m @ 0.16 g/t Au from 32m
L	KGA0814	64	68	4	0.93	Alluvial/bedrock	4m @ 0.93 g/t Au from 64m
L	KGA0814	68	72	4	0.33	Bedrock	4m @ 0.33 g/t Au from 68m

For personal use only

Table 2 : Geological setting of new significant intersections

Line	Hole IDs	New Assay	Bedrock Geological Setting
Highlights
AS2 East	KGA0754 - 0764	9m @ 0.4 g/t Au	Sheared dolerite/Black Flag metasediment contact. D3 NE
structure. D4 NW Structure
AS2 West	KGA0765 - 0776	8m @ 0.3 g/t Au	Interpreted D3 NNW regional splay shear cutting Black Flag
metasediments.
A	KGA0777 - 0778		D4 NW and D3 NE structures cutting Black Flag conglomerates
B	KGA0779		D4 NW and D3 NE structures cutting Black Flag conglomerates
		13m @ 0.9 g/t Au	D4 NW structures cutting Black Flag metasediments. Sheared
CN	KGA0780 - 0785	incl. 1m @ 4.5 g/t Au
dolerite/Black Flag metasediment contact.
		and 4m @ 1.0 g/t Au
D	KGA0786 - 0789	4m @ 0.3 g/t Au	Sheared dolerite/Black Flag metasediment contact. D4 NW
Structure
E West	KGA0795 - 0798B	9m @ 0.5 g/t Au	D4 NW and D3 NE structures cutting Black Flag conglomerates
F West	KGA0799 - 0801	3m @ 1.1 g/t Au	D4 NW structures cutting Black Flag conglomerates
H West	KGA0802 - 0804	4m @ 0.3 g/t Au	D4 NW and D3 NE structures cutting Black Flag felsic
metasediments
LS	KGA0811 - 0813	24m @ 0.6 g/t Au	D3 NNE structure cutting quartz-veined Black Flag felsic
incl. 4m @ 3.2 g/t Au	metasediments
L	KGA0814	8m @ 0.6 g/t Au	D3 NNE structure cutting quartz-veined Black Flag felsic
metasediments

Table 3 : 2022 Drill hole collar table

Prospect	Hole ID	Easting	Northing	EOH	Azi	Dip	Line ID
Sir L	KGA0754	325900	6681750	35	0	-90	AS2
Sir L	KGA0755	325850	6681750	65	0	-90	AS2
Sir L	KGA0756	325800	6681750	73	0	-90	AS2
Sir L	KGA0757	325750	6681750	66	0	-90	AS2
Sir L	KGA0758	325700	6681750	57	0	-90	AS2
Sir L	KGA0759	325650	6681750	60	0	-90	AS2
Sir L	KGA0760	325600	6681750	62	0	-90	AS2
Sir L	KGA0761	325550	6681750	51	0	-90	AS2
Sir L	KGA0762	325500	6681750	45	0	-90	AS2
Sir L	KGA0763	325450	6681750	39	0	-90	AS2
Sir L	KGA0764	325400	6681750	37	0	-90	AS2
Sir L	KGA0765	325350	6681750	56	0	-90	AS2
Sir L	KGA0766	325300	6681750	42	0	-90	AS2
Sir L	KGA0767	325250	6681750	47	0	-90	AS2
Sir L	KGA0768	325200	6681750	52	0	-90	AS2
Sir L	KGA0769	325150	6681750	65	0	-90	AS2
Sir L	KGA0770	325100	6681750	61	0	-90	AS2
Sir L	KGA0771	325050	6681750	63	0	-90	AS2
Sir L	KGA0772	325000	6681750	51	0	-90	AS2
Sir L	KGA0773	324950	6681750	37	0	-90	AS2