West African Resources Ltd.

Published : June 03rd, 2015

NI 43-101 Technical Report – Pre-Feasibility Study Mankarga 5 Deposit, Tanlouka Project, Amended and Restated 29 May 2015, press release

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NI 43-101 Technical Report – Pre-Feasibility Study Mankarga 5 Deposit, Tanlouka Project, Amended and Restated 29 May 2015, press release

Microsoft Word - 20150601_Press release_NI43-101 _Final_

Press Release

01 June 2015

West African Files Amended and Restated 43‐101

Technical Report on Mankarga 5 Heap Leach Starter Project

Perth, Western Australia: Gold developer, West African Resources Limited (ASX, TSX: WAF) announces further to its news release dated April 4, 2015, it has filed an amended and restated NI 43‐101 technical report dated May 29, 2015 entitled "Amended and Restated NI 43‐101 Pre‐Feasibility Study, Mankarga 5

Gold Deposit, Tanlouka Gold Project, Burkina Faso" (the "Amended Report").

The Amended Report addresses comments raised by the British Columbia Securities Commission, including but not limited to: expiry date of property, cautionary language regarding mineral resource estimates, explanation of the base‐case cut‐off grade used for reporting mineral resources and the appropriateness of a 5% discount rate for net present value. There has been no change to the previously stated mineral resources, mineral reserves or economic analysis of the Mankarga 5 heap leach project (see news release dated March 11, 2015).

The Amended Report is available under the Company's profile on SEDAR (www.sedar.com).

Dr. Leon Lorenzen, Mintrex Pty Ltd's Manager of Projects and Studies and a "qualified person" under National Instrument 43‐101, reviewed and approved the scientific and technical information contained in this news release.

For further information contact:

Richard Hyde Nathan Ryan Managing Director Investor Relations Ph: 08 94817344 Ph: 0420 582 887

Email: [email protected]

Regulatory Disclaimer and Related Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This announcement has been prepared in compliance with the JORC Code 2012 Edition, the ASX Listing Rules and Canadian National Instrument 43‐101 (Disclosure Standards for Mineral Projects).

Forward Looking Information

This news release contains "forward‐looking information" within the meaning of applicable Canadian and Australian securities legislation, including information relating to West African's the potential economic feasibility of a principal mineral project, future financial or operating performance may be deemed "forward looking". All statements in this news release, other than statements of historical fact, that address events or developments that West African expects to occur, are "forward‐looking statements". Forward‐looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends",

West African Resources Limited

"estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward‐looking statements are based on the opinions and estimates of the relevant management as of the date such statements are made and are subject to important risk factors and uncertainties, many of which are beyond West African's ability to control or predict. Forward‐looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward‐looking statements. In the case of West African, these facts include their ability to secure additional funding, anticipated operations in future periods, planned exploration and development of its properties, and plans related to its business and other matters that may occur in the future. This information relates to analyses and other information that is based on expectations of future performance and planned work programs. Statements concerning mineral resource estimates may also be deemed to constitute forward‐looking information to the extent that they involve estimates of the mineralization that will be encountered if a mineral property is developed.
Forward‐looking information is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward‐looking information, including, without limitation: gold price volatility, investor interest in financing of junior resource issuers, exploration hazards and risks; risks related to exploration and development of natural resource properties; uncertainty in West African's ability to obtain funding on reasonable terms or any terms at all; financial market conditions ; risks related to the uncertainty of mineral resource calculations and the inclusion of inferred mineral resources in economic estimation; risks related to governmental regulations; risks related to obtaining necessary licenses and permits; risks related to their business being subject to environmental laws and regulations; risks related to their mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to competition from larger companies with greater financial and technical resources; risks relating to the inability to meet financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks related to their directors and officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect West African's forward‐looking information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward‐looking information.
West African's forward‐looking information is based on the reasonable beliefs, expectations and opinions of their respective management on the date the statements are made and West African does not assume any obligation to update forward looking information if circumstances or management's beliefs, expectations or opinions change, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward‐looking information. For a complete discussion with respect to West African, please refer to West African's financial statements and related MD&A, all of which are filed on SEDAR at www.sedar.com.

Page: 2

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Data and Statistics for these countries : Australia | Burkina Faso | All
Gold and Silver Prices for these countries : Australia | Burkina Faso | All

West African Resources Ltd.

EXPLORATION STAGE
CODE : WAF.AX
ISIN : AU000000WAF6
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West African Resources is a exploration company based in Australia.

Its main exploration properties are MARANDET in Niger and BOULSA in Burkina Faso.

West African Resources is listed in Australia. Its market capitalisation is AU$ 639.2 millions as of today (US$ 409.3 millions, € 384.5 millions).

Its stock quote reached its lowest recent point on February 26, 2016 at AU$ 0.05, and its highest recent level on November 19, 2021 at AU$ 1.47.

West African Resources has 484 249 984 shares outstanding.

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In the News and Medias of West African Resources Ltd.
7/25/2016in The Australian
Financings of West African Resources Ltd.
8/18/2016Issue of securities
8/18/2016ISSUE OF SECURITIES WITHOUT A DISCLOSURE DOCUMENT
3/25/2011$7 Million Capital RaisingUser-Agent: ExpressionEngine 1.6.9
Nominations of West African Resources Ltd.
2/28/2014Appointment of Colin Jones as Non-Executive Director
Financials of West African Resources Ltd.
10/31/2016Quarterly Activities and Cashflow Report
7/29/2016June 2016 Quarterly Activities Report
5/2/2016March 2016 Quarterly Activities Report
2/14/2016December 2015 Quarter Interim Financial Report
Project news of West African Resources Ltd.
9/14/2016hits 10m at 18.33g/t Au including 1m at 165.14g/t at M1 Sout...
8/1/2016(Tanlouka)Upgrades Mineral Resources as at Tanlouka
2/1/2016West African hits 19m at 1.9g/t Au from 40m, including 3m at...
10/15/2015West African commences drilling at M3 gold discovery
8/16/2015New gold zone returns up to 13g/t Au in auger drilling
6/18/2015Outstanding results at Mankarga 1 prospect – Up to 4g/t Au i...
2/19/2014Acquires Heap Leach Plant Targeting Gold Production 2015
1/20/2014Completes Acquisition of Channel Resources
12/13/2013Channel Receives Final Court Approval for Arrangement With W...
9/26/2013Channel Resources and West African Resources
5/18/2011Further high-grade results at MokteduUser-Agent: ExpressionE...
3/20/2011New high grade gold discoveryUser-Agent: ExpressionEngine 1....
Corporate news of West African Resources Ltd.
7/31/2017June 2017 Quarterly Activities and Cashflow Report
8/25/2016West African Resources Repays US$5m Loan Facility
8/1/2016West African Upgrades Mineral Resources as at Tanlouka
7/27/2016West African hits 41m at 2.2 g/t Au including 8m at 5.7 g/t ...
7/20/2016Clarus Securities initiates coverage on West African Resourc...
7/17/2016West African hits 1107g/t Au at M1 South
6/16/2016West African hits visible gold at 175m, confirms depth poten...
5/13/2016March 2016 Quarter Interim Financial Report
5/13/2016March 2016 Quarter Management Discussion & Analysis
5/11/2016West African hits 14m at 8.7g/t Au from 75m including 1m at ...
5/5/2016West African hits 6m at 9.2g/t Au from 15m at M1 South
4/26/2016Notice of General Meeting/Proxy Form
4/26/2016Section 708 Notice
4/20/2016West African hits 9m at 9.7g/t Au from 112m, including 1m at...
4/13/2016Trading Halt
4/5/2016West African hits 96.3g/t Au at M1 North
12/23/2015Becoming a substantial holder for WAF
12/21/2015Preliminary metallurgical recoveries average 97.5% at M1 and...
12/14/201515m at 1.2g/t Au including 7m at 2.2g/t Au from 4m at M3
9/30/2015Management Discussion & Analysis
9/30/2015Annual Report
9/18/2015Company Update
9/1/2015Final Director’s Interest Notice x 2
7/31/2015June Quarterly Activities Report
6/17/2015West African extends M5 by 1.5km, up to 0.63g/t Au in Auger
10/6/2014West African Resources Limited 72m at 2.2 g/t Au Including 7...
8/19/2014West African Resources Limited 15m at 5.9 g/t Au including 5...
8/12/2014West African Resources Limited Finds Extension of Mankarga 5...
8/6/2014West African Resources Limited West African Oxide Drilling 2...
12/6/2013Acquisition by West African Resources Approved
8/14/2013Letter of Intent for the Acquisition of Channel Resources by...
10/9/2012Hartleys initiates coverage on West African Resources (ASX: ...
7/29/2011June 2011 Quarterly ReportUser-Agent: ExpressionEngine 1.6.9
4/27/2011March 2011 Quarterly ReportUser-Agent: ExpressionEngine 1.6....
1/31/2011December 2010 Quarterly ReportUser-Agent: ExpressionEngine 1...
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