September 2018 Quarterly Report

SUBIACO,AUSTRALIA / ACCESSWIRE / October 30, 2018 /Gold developer West African ResourcesLimited (ASX, TSXV: WAF) is pleased to report progress on its Sanbrado GoldProject ("Sanbrado"), Burkina Faso, for the quarter ending 30 September 2018.

Highlights

M1 South DiamondDrilling

High-grade results fromstep down and infill drilling at M1 South include:

• TAN18-DD214A: 0.5m at 520 g/t Au from 578m
• TAN18-DD214A: 23m at 7.3 g/t Au from 617m including 4m at 24.4 g/t Au
• TAN18-DD189-WD1: 10m at 8.1 g/t Au from 646.5m, including 0.5m at 61.7 g/t Au
• TAN18-DD196-WD2: 10.5m at 8.8 g/t Au from 648m, including 0.5m at 138 g/t Au
• TAN18-DD214A-WD1: 21.5m at 15.3 g/t Au from 614m, including 0.5m at 115 g/t Au
• TAN18-DD214A-WD2: 14.5m at 19.9 g/t Au from 595.5m, including 1m at 219 g/t Au

Parallel high-grade zone at M1South intercepted 300m below surface, 180m east of main zone include:

• TAN18-DD189-WD2: 2m at 138.4 g/t Au from 449m
• TAN18-DD189: 5.5m at 15.5 g/t Au from 452.5m including 1.5m at 48.3 g/t Au
• TAN18-DD214A-WD2: 8m at 6.0 g/t Au from 396m, including 1m at 30.0 g/t Au

Corporate Summary

• Updated mining permit awarded for Sanbrado
• Chief Development Officer appointed for Sanbrado construction
• Strong interest received from debt financiers to fund construction, with non-binding debt offers ranging from US$160m to US$215m
• Updated Feasibility Study NI 43-101 report filed on SEDAR
• Presented at Diggers & Dealers conference Kalgoorlie, Precious Metals Summit and Denver Gold Forum Colorado USA

September 2018 Quarter Summary

• 8,047.5m from 16 diamond holes and wedges drilled
• $7.0m exploration and development expenditure
• $0.6m administration costs
• $35.4m cash at bank, no debt at 30 September 2018

December 2018 Quarter Plans

• 1,000m diamond core hole targeting ultra high-grade shoot extension 200m below M1 South
• Further key hires for WAF owners team for Sanbrado build
• Commencement of early works, including box cut and UG portal development at M1 South
• Further results infill and step-out drilling from M1 South and M5
• Award of EPCM contract and mill order
• Appointment of debt financier or syndicate for Sanbrado build

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SOURCE: West African Resources Limited