Mr. Kasun Liyanaarachchi reports

MANAGING DIRECTOR AND CEO RETENTION PLAN

After an independent market and peer review, the executive services agreement between Westgold Resources Ltd. and Wayne Bramwell, managing director and chief executive officer has been varied to reflect current market conditions and the demand for experienced mining executives. Effective March 1, 2025, Mr. Bramwell's fixed remuneration is $925,000 (Australian) per annum, exclusive of superannuation contributions.

To support the retention of the managing director and chief executive officer and to reflect Mr. Bramwell's continuing performance and leadership in positioning the company for future growth, the company will issue Mr. Bramwell (or his nominee) 1.5 million retention shares. This issue will be done in three tranches of 500,000 shares with an issue date of July 1, 2025, July 1, 2026, and July 1, 2027 (respectively), and be subject to shareholder approval at the company's 2025 annual general meeting and to specified performance criteria. Details of these criteria will be provided in the company's notice of meeting.

All other terms and conditions of Mr. Bramwell's agreement remain unchanged.