West Coast Silver (ASX:WCE) Accelerates Phase 2 Drilling at Elizabeth Hill

9 October 2025

Price Sensitive Announcement $

Highlights:

• Phase 2 diamond drilling to commence on 10 October 2025 at the high-grade Elizabeth Hill Silver Project (Pilbara, WA)
• Follows multiple bonanza-grade intercepts from Phase 1 (Aug–Sep 2025)
• Program aims to test near-surface high-grade mineralisation, and prospective areas down plunge of the historical workings with mineralisation open at depth
• Additional ~3,000m air core program scheduled to begin early November, targeting near-mine anomalies defined by recent geophysics
• Geophysics in progress: Transient Electromagnetic (TEM) and drone magnetic surveys continuing to refine targets along the Munni Munni Fault and parallel
  structures
• Drilling Contractor and WCE personnel have commenced mobilisation activities to site

Overview:

West Coast Silver Limited has advised that the second phase of diamond drilling will commence ahead of schedule, on 10 October 2025, at the high-grade Elizabeth Hill Silver Project in the Pilbara region of Western Australia (Elizabeth Hill) (Figure 1, Figure 2, Figure 6).

The program has a dual focus: (1) to confirm and define the shallow, very high-grade silver immediately adjacent to the historic workings; and (2) to test a potential for deeper continuation to the south where the mineralisation remains open at depth.

The Phase 2 drilling program will consist of approximately 14 diamond drill holes (~1,300 metres). This will be expanded as required based on the success of the program. Drilling will be undertaken by Wallis Drilling Pty Ltd.

In addition, geophysical surveys have commenced to provide additional high-quality data forrefinement of the proposed aircore programs commencing in November (Figure 3, Figure 4, Figure 5).

Down Plunge Exploration Targets

Further evaluation of historical underground and surface drilling geology logs and geochemistry has reinforced the prospectivity of the down plunge target as a potential extension of the Elizabeth Hill Mine sequence (Figure 2).

Underground diamond drill hole UGD084 intersected 2m @ 1,995g/t Ag within an interval of 6m @ 705g/t Ag (Figure 1 ,Figure 2, Appendices 1-2). Drill logs at the time also describe native silver mineralisation within the 2m high grade interval, similar to that recorded in the Elizabeth Hill Deposit (WAMEX Report A62365).

Underground diamond drill hole UGD085 intersected 23,304ppm Ni, 6,013ppm Cu, 1,078ppm Pb, 4,104 ppm Zn and 50ppm Ag (Figure 1, Figure 2). The drill log describes complex textures with calcite brecciation reflecting similar geology to the Elizabeth Hill mine sequence (WAMEX Report A62365).

These drill holes combined with drill hole AG33 (Figure 1, Figure 2), previously reported, provide confidence in targeting the down plunge extension of the Elizabeth Hill mineralisation

The Elizabeth Hill Project
Elizabeth Hill is one of Australia’s high-grade silver projects and has a proven production history outlined below:

• High grades enabled low processing tonnes: 1.2Moz of silver was produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t Ag)2 .
• Previous mining operation ceased in 2000: because of low silver prices (US$5)3.
• Simplistic historical processing technique: native silver was recovered via low-cost gravity
  separation techniques.
• Untapped potential remains in ground with deposit open at depth and recent consolidation of land package offers potential to discover more Elizabeth Hill style deposits.
• Tier 1 Mining Jurisdiction located on a mining lease with potential processing option at the nearby Radio Hill site.

Company Notes

Commenting, Executive Chairman Bruce Garlick said:

“We’re back on the ground and moving quickly to build on the outstanding grades from our initial campaign. Phase 2 is designed to do two things: demonstrate near-surface continuity in the oxide zone and test a deeper target that could represent a down-plunge repeat of the Elizabeth Hill system

Full Company Announcement: https://hotcopper.com.au/threads/ann-phase-2-diamond-drilling-commences-at-elizabeth-hill.8815579/