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

8th December 2014

Drilling Commences at Goodin Prospect

Goodin Prospect

 Drilling has commenced at the Goodin prospect.

Board of Directors

Kevin Somes - Chairman

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

Kel Edwards - Company Secretary

Drilling Commences at Doolgunna 8th December 2014

GOODIN PROSPECT

The Company has identified 12 late time airborne EM ("AEM") conductors (HeliTEM) at the Goodin prospect that fulfil the Company's target criteria. To date detailed plate modelling of 5 of these conductors has been completed and all 5 have been confirmed as drill targets and the remaining 7
conductors are yet to be plate modelled (Fig 1).

Copper response ratio

(x background)

Further follow-up areas

1. Enrichment of copper along NW fault above density anomaly, prospective area for further follow- up. No EM completed over this area yet.

2. Unexplained enrichment of copper. Requires further follow-up. No EM completed over this area yet

3. Unexplained moderate copper enrichment co-incident with strong gold enrichment. Requires further follow-up. No EM completed over this area.

Figure 1. Image showing response ratio of copper above background calculated for rock type sampled.

To date less than half of the Goodin prospect has been covered by airborne EM with several significant areas of copper enrichment co-incident with the northwest trending regional lineaments the company is targeting (fig 1).

Drilling Commences at Doolgunna 8th December 2014

Drilling has now commenced to test two of these targets with a total of three RC drill holes planned
(see Fig 2).
The first target selected for drilling is a late time HeliTEM conductor approximately 400m in length at
80m depth. The target is located 25km southeast of Degrussa within the Company's interpreted NW
structural corridor and is also co-incident with copper and gold enrichment at the surface.

Figure 2. Planned drill holes to test the plate models of the AEM anomalies. There is co-incident copper enrichment where these models are projected to the surface

YERRIDA EXPLORATION

The Company has one of the largest landholdings in the Doolgunna region with approximately
3,700km2 area covering the Proterozoic rocks that have formed on the northern margin of the older
Archean Yilgarn Craton.
Proterozoic provinces contain a disproportionately large share of Australia's and the world's metallic resources including the more recent discoveries Degrussa copper deposit, Nova nickel deposit and Tropicana gold deposit in Western Australia.
The company has now acquired a large area of Proterozoic terrain that it believes is prospective for massive copper Sulphide "Degrussa" style mineralisation, massive nickel sulphide "Nova" and "Voisey Bay" style mineralisation and Sediment hosted ("SEDEX") base metal "Mt Isa" style mineralisation.
Additionally the company has discovered significant areas of older Archaean greenstone sequences under shallow cover along the eastern margin of the overlying younger Proterozoic rocks. These previously unknown Archean greenstone sequences have never been explored and the company believes these are the extension of the Wiluna greenstone belt that hosts numerous major gold and nickel deposits to the south.
The Company has also completed a significant amount of regional geophysical and geochemical studies to get a better understanding of the geological setting. In addition to the regional surveys several airborne EM surveys have also been completed.

Drilling Commences at Doolgunna 8th December 2014

Given the scale of the regional work completed to date the company still has a considerable amount of assessment work to complete and is continuing to identify new prospects. This assessment work is being carried out concurrently with the advancement of the previously announced Goodin and Finlayson (Cunyu) prospects and the company is prioritising nickel/copper sulphide and gold mineralisation.

Figure 3. Location of prospects identified to date at Yerrida

Jordan Luckett

Managing Director

For further enquiries phone (08) 6489 0101 or email [email protected]

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 appears.