This announcement contains inside information

24 February 2025

GREAT WESTERN MINING CORPORATION PLC

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

PROPOSED SHARE CAPITAL REORGANISATION

AND

NOTICE OF GENERAL MEETING

Great Western (AIM - GWMO, Euronext Growth - 8GW) announces that it is proposing to implement a share capital reorganisation whereby (i) the ordinary share capital of the Company will be consolidated on the basis of 1 Consolidated Ordinary Share of €0.02 each for every 200 Existing Ordinary Shares of €0.0001 each followed by (ii) the sub-division of 1 Consolidated Ordinary Share of €0.02 each into 1 New Ordinary Share of €0.0001 each and 1 Deferred Share of €0.0199 each (the "Share Capital Reorganisation").

The Company has today posted a circular to shareholders in connection with the Share Capital Reorganisation which is available on its website at www.greatwesternmining.com (the "Circular"). The Circular contains a general update as well as information about the background to and reasons for the proposed the Share Capital Reorganisation, to explain why the Board considers the share capital reorganisation to be in the best interests of the Company and its Shareholders as a whole, and why the Directors recommend that you vote in favour of the resolutions to be proposed at a general meeting to be held at 1 Windmill Lane, Dublin 2, Ireland on 20 March 2025 at 2:30 p.m. (GMT).

Upon implementation of Share Capital Reorganisation, Shareholders on the register of members of the Company on the Record Date, which is expected to be 6 p.m. on 28 March 2025, will exchange every 200 Existing Ordinary Shares they hold for 1 New Ordinary Share and 1 Deferred Share. The proportion of the issued ordinary share capital of the Company held by each Shareholder following the Share Consolidation will, save for fractional entitlements and subject to the exercise of share options and warrants, be unchanged.

Application will be made for the New Ordinary Shares arising from the Share Consolidation and Sub-division to be admitted to trading on the Euronext Growth Market and AIM. It is expected that admission will become effective and that dealings in the New Ordinary Shares will commence at 8:00 a.m. on 31 March 2025.

Voting

We encourage all shareholders to submit their proxy forms as soon as possible to ensure their vote counts.  The deadline for submitting proxies is 2:30 p.m. Tuesday 18 March 2025. There are several ways for shareholders to exercise their right to vote remotely at the EGM:

·      by submitting a validly completed proxy form to Computershare appointing the chair of the meeting as a proxy to vote on their behalf;

·      by visiting www.eproxyappointment.com and submitting their proxy details; or

·      by appointing a proxy as set out in the Voting Instructions on pages 9 and 10 in the Circular.

EGM conference call

Shareholders may listen to the proceedings of the EGM remotely by using teleconference facilities provided by the Company for this purpose.

Telephone dial-in-details

1.   Please join the event conference prior to the start time by dialling the appropriate telephone number from the list below and enter the Participant passcode:

a.   Ireland: +353 (0)1 436 0958

b.   UK / International: +44 (0) 800 358 1650

2.   Enter the participant passcode: 9556284 and follow instructions.

3.   You will be able to listen to the business of the EGM only, you will not be able to use this facility to vote, raise points or issues, ask questions or table resolutions.

Results of resolutions

All resolutions at the EGM will be put to a poll.  Great Western will publish the results of the poll relating to the resolutions tabled at the EGM later on the day of the meeting on the Company's website, www.greatwesternmining.com. 

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 the seventh and most recent acquisition, the Olympic Gold Project, is in the east of the county, some 50 miles from the main group.  All the Company's claims are 100% owned. Claims at the Eastside Mine Group have been contributed to a pooling agreement with Bronco Creek Exploration, Inc. and in addition the Company participates in the Huntoon Mine Area Cooperation Agreement with landowner-neighbour Crowne Point Resources with whom it shares resources.  Great Western's small exploration team is supported by locally based consultants and contractors. 

The state of Nevada is 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. 

GWM has also established an Inferred Resource Estimate of 31,000 tonnes grading 1.6 g/t gold and 3.0 g/t silver in tailings associated with the OMCO Mine at the Olympic Gold Project.  Additionally, exploration targets have been independently reported as follows:

·      3,400 - 6,400 tonnes grading between 0.5 and 1.2 g/t Au and 1.2 and 2.1 g/t Ag in the substrate beneath the tailings volume at the Olympic Mine.

·      9,000 - 12,000 tonnes grading between 0.9 and 2.4 g/t Au and 2.0 and 5.1 g/t Ag in a coarse stockpile at Olympic Mine.

·      4,200 - 7,700 tonnes grading between 40 and 140 g/t Ag and 0.3 and 0.3 g/t Au in spoil heaps at Mineral Jackpot.