GREAT WESTERN MINING CORPORATION PLC

("Great Western", "GWM" or the "Company")

COPPER POTENTIAL MATERIALLY UPGRADED

Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW), which is exploring and developing gold, silver and copper targets in the Walker Lane trend of Nevada, provides details of a material upgrade in the copper potential of the Huntoon Valley area. 

A recently completed geological field work programme on the Company's copper claims has achieved significant results, underlining an opportunity which may become increasingly attractive for a larger joint venture partner.

HLIGHTS

·    Clear evidence of a previously unidentified copper porphyry system in the Huntoon Valley.

·    A significant area of granite outcrop has been newly mapped near the centre of a copper anomaly identified during previous soil sampling.

·    Over 100 localities with visible surface copper oxide mineralisation have been mapped.

·    135 new soil samples have been collected.

·    Porphyry expert Dr. Lawrence Carter engaged to review copper potential

·    19 new claims staked at West Huntoon in the last two weeks to strengthen the Company's acreage position.

In the Huntoon Valley area, Great Western's successful copper exploration includes:

1.    A resource of copper (M2) established on the Black Mountain claims with further potential open in several directions.

2.    The M4 prospect in the Jack Springs Claims, with a copper intercept in one drillhole and surface copper oxide showings, to the south of M2.

3.    The West Huntoon prospect, situated across the Huntoon Valley to the southwest of M2, at which a single hole has been drilled containing both copper and gold intercepts.

Multiple indications of a potentially major copper play led the Company to seek third-party advice to assess its positive findings. In early October Dr. Lawrence Carter, a specialist in copper porphyries and an expert on the nearby archetypal Yerington porphyry copper district, visited the site and spent a week with the Great Western team in the field.  Dr. Carter's role was to visit the site, review, assess and opine on the work done over the summer, making recommendations for going forward.  He was not charged with providing any kind of valuation or quantification of a potential resource and his report does not include any measurable data in that respect. 

During Dr. Carter's visit, which was focused on West Huntoon, but also took in the other projects around the Huntoon Valley, abundant evidence for porphyry-style mineralisation was identified, particularly at the newly identified granite area at West Huntoon, never previously mapped. The juxtaposition of other prospects in the area (M2, M4) and their possible relations to intrusions suggest a large magmatic-hydrothermal system at work.  Dr. Carter's full report has been uploaded to the Company's website and can be accessed through the following link https://www.greatwesternmining.com/carter/

KEY FINDINGS IN DR. LAWRENCE CARTER'S REPORT

·    First-order field evidence for a magmatic-hydrothermal system with strong indications of associated porphyry-style mineralisation exists on GWM's properties and surrounding land (now under newly staked claims, see below).

·    Key magmatic-hydrothermal textures including pegmatitic pods, quartz eyes, miarolitic cavities, aplitic porphyry dykes, unidirectional solidification textures (USTs) and locally intense stockworks of A, AB and B-type quartz veins all within the newly mapped West Huntoon granite at the heart of the copper anomaly.

·    Various other observations of intrusive relations, alteration and mineralisation suggestive of a previously un-realised large scale porphyry system, covered in several places by tertiary volcanic horizons - significantly, highlighting potential for sub-cropping porphyry-style mineralisation on and surrounding GWM's current Huntoon property.

·    Skarn-style mineralisation at GWM's M2 resource and M4 prospect on the eastern side of

·    the Huntoon Valley may all be associated with a much larger mineralising magmatic-hydrothermal system.

·    Field evidence from across the Huntoon Valley, as summarised above, is suggestive of a large sub-cropping porphyry-style magmatic-hydrothermal system. Current projects elsewhere in the county are continuously providing evidence for other such systems in the region.

A study of the trace element geochemical signatures of the granites encountered during the field visit is in progress. Initial results indicate fertile geochemical signatures in some of the granites sampled.

NEW CLAIMS

Following the results of the 2023 field programme, 19 new claim blocks in two separate groups have been staked in the West Huntoon area adjacent to the Company's existing claims and covering areas which are thought to be underlain by shallow prospective granite.

HUNTOON COPPER PROJECT

The three main prospects around the Huntoon Valley, M2, M4 and West Huntoon, have been collectively designated the Huntoon Copper Project, emphasising the likely genetic connections between each and the potential for additional discoveries over Great Western's considerable claim acreage around the Huntoon Valley (Figure 1).

Figure 1. Map to show the Huntoon Copper Project which comprises the M2 Resource, and the M4 and West Huntoon prospects. Note, new claims at West Huntoon not shown.

CONCLUSION

Until this year, the focus of Great Western's copper potential had been on the resource already established through extensive drilling at the M2 prospect.  Although drilling and a great deal of work is required to prove up a resource at West Huntoon, the geological work carried out during the summer this year has opened up the strong possibility of a major new copper porphyry in the Huntoon Valley, of which the existing M2 resource would only be a peripheral component.     

Great Western Chairman Brian Hall commented:  "Great Western has been working hard in this area for several years now but the work carried out in 2023 has the potential to transform the Company, should a major porphyry be established, in a world transitioning from hydrocarbons where copper will become increasingly important. This is an exciting development for Great Western."  

Qualified Person Statement: The information in this announcement that relates to exploration results is based on information reviewed by Dr James Blight MGeol PhD MAusIMM who is Exploration Manager of Great Western Mining PLC. Dr Blight is a "Qualified Person" as defined in the "Note for Mining and Oil & Gas Companies" which form part of the AIM Rules for Companies. Dr Blight has reviewed and consented to the inclusion in the announcement of the information in the form and context in which it appears.

For further information:

Notes to Editors

The Company has a large tract of acreage in Mineral County, Nevada. The area consists of rugged, mountainous terrain, which means that large parts of it remain under-explored. Mineral potential is hosted by the regional Walker Lane Structural Belt, the largest structural and metallogenic belt in Nevada, yet one of the least explored in recent times, with gold, silver and copper currently produced in Mineral County.  Great Western has seven distinct concession areas which offer the potential for exploiting (1) short term gold and silver deposits and (2) long-term, world-class copper deposits. 

Six of the Company's properties are in the west of Mineral County and are 100% owned and operated.  The Company has an option to acquire a seventh property, the Olympic Gold Project, in the east of the county.  Great Western's small exploration team is supported by locally based consultants and contractors. 

The state of Nevada is generally considered to be one of the world's most mining friendly jurisdictions.  While tightly regulated and environmentally conscious, Nevada welcomes the mining industry.  Great Western takes care to ensure that its claims are maintained in good standing and all regulations observed. 

There are numerous gold and silver prospects on the Company's acreage, including extensive historic mine workings which offer the opportunity for secondary recovery. The Company is party to a 50-50 joint venture known as Western Milling LLC which is constructing a mill to process pre-mined material for secondary recovery of gold and silver.

Furthermore, through extensive drilling over a five-year period, GWM has established a Mineral Resource on its first target area known as M2, of 4.3 million tonnes at 0.45% copper, for 19,000 tonnes of contained copper metal. This resource has been independently reported in accordance with JORC guidelines.