Great Western Exploration Limited

ABN 53 123 631 470

Great Western Exploration Limited is a publicly listed exploration company with

the primary objective of creating wealth for shareholders through the discovery of

world-class mineral deposits.

ASX Code: GTE

Capital Structure

Shares on Issue: 166.0 M Options on Issue: 11.35 M

Contact Details:

185 Hay Street, Subiaco 6008

PO Box 8142, Subiaco 6008

T: (08) 6489 0101

F: (08) 6489 0100 [email protected]www.greatwesternexploration.com.au

Board of Directors

Kevin Somes - Chairman

Jordan Luckett - Managing Director Craig Mathieson - Non-Executive Terry Grammer - Non-Executive

Kel Edwards - Company Secretary

26 November 2014

Drilling at Cunyu Enhances Gold Prospectivity

 Drilling completed at the Cunyu Project

 A total nine reverse circulation ("RC")

drill holes for 1527m completed at Cunyu

 Significant Shear zone intersected; assays pending

 Drilling successfully achieved its primary objective intersecting mafic and ultramafic basement at shallow depths

 Drilling at Goodin Prospect is scheduled to commence early December

26 November 2014

Great Western Exploration Limited ("GTE"; "the Company") is pleased to announce that the Cunyu reverse circulation ("RC") drilling has successfully achieved its primary objective by intersecting mafic and ultramafic sequences ("basement") that the company believes is the northwest extension of the Wiluna greenstone belt.
Furthermore the drilling intersected a significant shear zone within the basement rocks that exhibits intense hydrothermal alteration and quartz veining with abundant sulphide mineralisation over a downhole interval of 15m from 140m depth. While the assay data for the shear zone will confirm whether there is an occurrence of gold or associated mineralisation the discovery of the structure is significant at this early stage of drilling. The drilling has also enabled the delineation of a large area for continued exploration where the basement depths are from less than 20m to 170 metres of cover.
There is strong evidence that the mafic basement is Archaean greenstone because there is excellent correlation between Yerrida Basin stratigraphy described in Geological Survey of Western Australia ("GSWA") reports and what has been observed in the drilling. In addition to this the most eastern drill hole designed to define the greenstone / granite contact has intersected the Archaean granite at similar depths.
This is a positive development for the Cunyu project and further enhances both the projects prospectivity for gold and nickel particularly given the close proximity to the Wiluna Mine Centre where some 5 million ounces of gold has been discovered and mined. Further detailed work, including petrology and age dating will be carried out to better understand the nature of the basement sequence.
The company is also looking forward to receiving the assay results from the mineralised shear zone which have been submitted and are expected to be received in a few weeks time.

Goodin Prospect

Due to heavy rain restricting access into the Goodin Prospect the company had to suspend the drilling at the end of the Cunyu programme. It has been estimated that at least 7 days is required to allow the area to dry out enough for heavy vehicle access if no further rain is received.
Goodin Prospect is now scheduled to commence in the second week of December but the exact timing will be depend on how the weather behaves over the next week or so.

J A Luckett

Managing Director

Competent Person Statement

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Jordan Luckett who is a member of the Australian Institute of Mining and Metallurgy. Mr Luckett is an employee of Great Western Exploration Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Luckett consents to the inclusion in the report of the matters based on his information in the form and context in which it a ppears.

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