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Positioned for Growthand Development

Elizabeth Hill in the West Pilbara produced 1.2 million ounces of recovered silver, from ore at a head grade of 2,194 g/t, before falling prices shut it in 2000. We own 70% of it on a granted Mining Lease, we have defined a 3.36 Moz resource at 446 g/t, and an 18-hole diamond program is drilling now.

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3.36Moz
Silver in our updated JORC Mineral Resource, 234.7kt at 446 g/t Ag (100% basis), inside an optimised open pit
2,194g/t
Head grade when Elizabeth Hill produced 1.2 Moz of recovered silver from 16,830 tonnes in 1999 and 2000
38.3m
At 878 g/t Ag from 3.7m in 26WCDD037, including 13.5m at 2,253 g/t Ag from 45m
~1,800m
Of diamond drilling in up to 18 holes, under way now and running to December 2026

Our plan

Advance a past-producing high-grade mine. Then find the next one along the fault.

  1. 01

    Acquire

    In 2025 we bought 70% of Elizabeth Hill from Alien Metals, a mine that stopped in 2000 because silver was worth about US$5 an ounce, not because the silver ran out.

    70%Of Elizabeth Hill, on Mining Lease M47/342

  2. 02

    Drill

    Our first diamond holes went straight back into the old mine and intersected high-grade native silver from near surface, around and below the historic workings.

    27.4mAt 1,314 g/t Ag in 25WCDD014

  3. 03

    Define

    Less than two years after buying the project we have updated our JORC Mineral Resource, with 77% now in the Indicated category, constrained inside an optimised open pit on our granted Mining Lease.

    3.36 MozAt 446 g/t Ag, November 2026

  4. 04

    Grow

    We are drilling to extend the resource to the north-west and at depth, and running geophysics along the Munni Munni Fault to look for repeats of the Elizabeth Hill system.

    ~180km²Contiguous land package

  5. 05

    Assess

    Metallurgical testwork is under way, we have a non-binding MoU with Artemis Resources to evaluate processing options at the nearby Radio Hill plant, and a Scoping Study will assess development options after our March 2027 resource update.

    2027Scoping Study to assess development options

We hold 70% of Elizabeth Hill through our subsidiary Crest Silver Pty Ltd, with Alien Metals subsidiaries holding 30%. The Mineral Resource was reported on 11 November 2026. The Artemis Resources toll treatment MoU announced on 4 December 2025 is non-binding. Timing for the Scoping Study is as stated in our announcements of 29 September and 11 November 2026 and may change.

Elizabeth Hill in three dimensions

The silver starts at surface, keeps going below the old mine, and our drill rig is back on it.

01The ground

Drag to rotate · arrows move the pivot · ctrl + scroll to zoomOne finger rotates · two fingers move and zoom

    Reported intersections are downhole lengths, not true widths. Results are as first reported in our ASX announcements of 16 July 2025, 29 August 2025 (amended), 4 February 2026, 9 July 2026, 13 August 2026 and 27 August 2026.

    The investment case

    Three reasons to look closer at WCE.

    01

    One of Australia’s highest-grade silver projects1

    Our updated resource is 234.7kt at 446 g/t Ag for 3.36 Moz, and above a 60 g/t cut-off it is 74.7kt at 1,333 g/t for 3.20 Moz. Native silver was recovered by simple gravity separation at the old mine.

    446 g/tAg across the 3.36 Moz resource

    02

    A mine that has already produced, on a granted lease

    Elizabeth Hill produced 1.2 Moz of recovered silver from ore at a head grade of 2,194 g/t in 1999 and 2000, and closed on price, not geology. It sits on granted Mining Lease M47/342, about 45km south of Karratha, with a non-binding toll treatment MoU in place for the nearby Radio Hill plant.

    1.2 MozRecovered silver, 1999 to 2000

    03

    Funded, drilling, and a busy news cycle ahead

    We raised $6.0M in an oversubscribed placement in September 2026. Up to 18 diamond holes are being drilled now, our resource was updated to 3.36 Moz in November 2026 with a further update planned for March 2027, and a Scoping Study will follow to assess development options.

    $6.0MPlacement completed September 2026

    1 Based on historical production grades: 1.19 Moz of silver produced from 16,830t at 2,194 g/t Ag. Refer WCE ASX announcement of 11 November 2026. The Mineral Resource was reported in our ASX announcement of 11 November 2026; 77% of its contained silver is in the Indicated category and 23% is in the Inferred category. Historic production figures are from the WAMEX Annual Report, 1 April 2014 to 31 March 2015, Elizabeth Hill Silver Project, Global Strategic Metals NL, p16. The Artemis Resources toll treatment MoU is non-binding. Placement details are from our announcement of 1 September 2026 and drilling and study timing from our announcements of 29 September and 11 November 2026. There is no Ore Reserve and no completed Scoping Study at Elizabeth Hill. Exploration is high risk, and nothing on this page is a guarantee of future performance.

    Where we explore

    A silver mine 45km from Karratha. Three more projects across WA.

    Elizabeth Hill sits on a granted Mining Lease in the West Pilbara, with a processing plant nearby. Hover or tap a pin to see each project.

    Explore our projects

    West Pilbara detail

    Indian Ocean Karratha Dampier Roebourne Elizabeth Hill Silver mine · 70% ours Radio Hill plant Toll treatment MoU Andover South 10 km N ↑
    • Our projects
    • Processing plant
    • Town

    3.36Moz

    Of silver at 446 g/t Ag in our Elizabeth Hill resource, inside an optimised open pit

    4Projects across WA
    ~180km²Silver package at Elizabeth Hill
    70%Ours at Elizabeth Hill

    Locations are approximate. The Radio Hill plant is owned by Artemis Resources (ASX:ARV) and our toll treatment MoU with them is non-binding. Our Fraser Range application is not shown.

    Closed by price. Not by geology.

    The workings beneath the Elizabeth Hill headframes were mined at more than 2,000 g/t silver until the price fell to about US$5 an ounce. The Munni Munni Fault that carries the silver runs for kilometres through our ground, and most of it has never been drilled.

    How we got here, and what is next

    From acquisition to a 3.36 Moz resource in less than two years.

    1. May 2025Elizabeth Hill acquiredWe bought 70% of the project from Alien Metals and became West Coast Silver, formerly Errawarra Resources.
    2. Jul 2025First assaysOur first diamond hole returned 21m at 1,047 g/t Ag from 10m, including 1m at 15,071 g/t.
    3. Jul to Aug 2026New zones, bonanza gradesA new high-grade zone at depth, then 38.3m at 878 g/t Ag from 3.7m in 26WCDD037.
    4. Oct to Dec 2026Drilling and geophysicsUp to 18 diamond holes and an IP and CSAMT survey along the Munni Munni Fault.
    5. Nov 2026Updated resource234.7kt at 446 g/t Ag for 3.36 Moz, with 77% Indicated, inside an optimised open pit on our granted Mining Lease.
    6. 2027Updated resource and Scoping StudyA further resource update in March 2027 including the new holes, then a Scoping Study to assess development options.

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    Every assay from Elizabeth Hill, the moment we lodge it.

    Results from up to 18 diamond holes and our geophysics land over the coming months. Join the investors we keep updated and you will get each one as soon as it's released to the ASX.

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