Announcement PDF ElizabethHillSilverProject Grade is King: Future growth and mine restart potential ASX | WCE April 2026 1 Massive native silver specimen from Elizabeth Hill Refer to West Coast Silver Ltd ASX announcement dated 22 December 2025 2 Elizabeth Hill Silver Project Disclaimer Forward-Looking Statements Statements in this announcement which are not statements of historical facts, including but not limited to those relating to the proposed transaction, are forward-looking statements. These statements instead represent management's current expectations, estimates and projections regarding future events. Although management believes the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on such statements. Competent Person Statement The information in this report that relates to Exploration Results reviewed by Mr Tom Redcliffe and Mr Ian Stockton Competent Persons who are Members of the Australasian Institute of Mining and Metallurgy and Fellow of the Australian Institute of Geologists (FAIG) and Registered Professional Geologist (RPGEO). Mr Stockton has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’, and a Specialist under the 2015 Edition of the ‘Australasian Code for Public Reporting of technical assessments and valuations of mineral assets’. Mr Stockton consents to the inclusion in the report of the matters based on his information and in the form and context in which it appears. Cautionary Statement This document is confidential and may not be reproduced, redistributed or passed on, directly or indirectly. This document is neither a prospectus nor an offer to subscribe for fully paid ordinary shares. West Coast Silver Ltd (West Coast Silver) and its directors, employees and consultants make no representations or warranty as to the accuracy, reliability or completeness of this document, and have no liability, including liability to any person by reason of negligence of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded. This document contains reference to certain targets and plans of West Coast Silver which may or may not be achieved. The performance of West Coast Silver may be influenced by a number of factors, uncertainties and contingencies, many of which are outside the control of West Coast Silver and its directors, staff and consultants. WCE emphasises that visual estimates of mineral abundance should not be regarded as a proxy or substitute for laboratory analyses, particularly when concentrations or grades are of primary economic significance. Furthermore, visual estimates do not yield information concerning impurities or detrimental physical properties that are pertinent to valuations. 3 Global Exploration Statistics (2025)* Global exploration declining, with capital shifting toward near-mine opportunities and producing regions • Global exploration down (3rd consecutive year); discovery rates falling • Capital shifting from greenfields → near-mine / brownfields • Grassroots spend at 17-year lows; minesite now ~45% of spend • Junior exploration -13% globally; Australia -6% • ~16 years from discovery to production • Silver materially underfunded (~4% of total exploration spend) • Capital favouring historic mines and producing regions *Source: S&P Global 2026 World Exploration Trends 11.5 17.2 20.5 14.4 10.7 8.8 7 8.1 9.7 9.3 8.4 11.2 13.1 12.9 12.5 12.4 0 5 10 15 20 25 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Budget (US$Bn) Exploration Budget by Year Exploration spend skewed toward precious and battery metals Largest exploration $$ going into Gold, Copper, Lithium and Silver Exploration spend down Exploration Trends 4 Historic Silver Mine Ready for Restart • Located in the Pilbara region, Western Australia • Excellent Infrastructure - Access to road networks, power infrastructure, skilled workforce in established Pilbara mining region. • Operations on a granted Mining Lease (ML) – potential fast-tracked development1. • Positioned along the major Munni Munni Fault within a large ultramafic complex - host to high-grade silver mineralisation and visible native silver. • Potential Processing Options: • Direct Ship Ore (“DSO”) • Silver Specimen Sales – Up to 5x metal value for jewellery box samples • Gravity plant – recovery of native silver • Flotation plant – recovery of silver sulphides • Aim is to maximise recoveries District-Scale Landholding in Emerging Silver District Elizabeth Hill Silver Project Processing Plant Ground 1 70% of Mining Lease and Silver rights over 180km (minority partner AIM listed Alien Metals). 10 km 30 km 5 Australia’s Largest Silver Nugget, 145kg found at Elizabeth Hill • “The Karratha Queen” largest native silver nugget 145kg from Elizabeth Hill, on display at The Perth Mint • Other large specimen’s from Elizabeth Hill held by Mark Creasy • Measures an impressive 85 x 38 x 47cm. • Contains approximately 3,520 ounces of silver worth ~US$246,400 at ~US$70/oz). 1. Visible native silver has been qualitatively observed and assayed in drill hole 25WCDD014 from 74.60m to 75.20m in calcite-quartz vein (photo shown). Note: 50,000g/t or 5% silver over 10cm. Reported down-hole intervals may not represent true width. Refer to West Coast Silver ASX announcement dated 4 February 2026 for further information. 2. Recalculated from original published assays. Refer to ASX announcement dated 4 February 2026 for further information. Grade 0.25m grading 17,534g/t Ag1 Part of wider 0.60m interval grading 26,618g/t (74.60m to 75.20m) in hole 25WCDD0142 Silver Specimen 6 High Grade Native Silver at Elizabeth Hill Grade Elizabeth Hill Top 5 Drill Intercepts1 Rank Intercept1 Interval (m) Grade (g/t Ag) Gram- Metres (g·m) 1 25WCDD0112 63.0 762 48,020 2 25WCDD014 27.4 1,314 36,009 3 25WCDD001 21.0 1,047 21,993 4 25WCDD0192 19.0 659 12,514 5 25WCDD0222 6.6 415 2,736 1 Refer to West Coast Silver Ltd ASX announcements dated 16 July 2025 & 22 August 2025 & 4 February 2026. 2 Recalculated from original published assays 3 Massive native silver specimen from Elizabeth Hill Refer to Alien Metals website: https://www.alienmetals.uk/project/silver-elizabeth-hill/ for photo Orebody Specimen Elizabeth Hill Mine3 Among the Highest-Grade Silver Intercepts Reported Globally in 2025/6 7 Systematic Growth Strategy New areas of mineralisation in the shadow of the headframe From Discovery to Resource - Objectives Growth • Phase 2 2025 drill program successfully intersected near-surface extension of the historic high-grade Elizabeth Hill deposit. • Mineralised zone defined by quartz-carbonate veining and stockwork, hosting native silver, associated silver minerals, and base metals. • Nine of the 13 diamond drill holes intersected high-grade silver mineralisation, with native silver identified in multiple holes1. • Hole 25WCDD0141 returned 27.4m @ 1,314 g/t Silver including visible silver. • 2025 and 2026 drilling will contribute to an inaugural Elizabeth Hill resource estimate and open pit mining Scoping of Works in Q4/2026. 1 Refer to West Coast Silver ASX announcement dated 4 February 2026, Elizabeth Hill headframes 8 Elizabeth Hill Drilling • Phase 1 and 2 Drilling: 25 holes for 2,198 m completed in 2025. o Phase 1: tested historic intersections. o Phase 2: target near-surface weathered zone and down-plunge extensions. • Near surface resource potential supported by assay results. • Depth extension drilling shows encouraging alteration, veining, and minor mineralisation. • Deeper conceptual targets retained for later- stage testing post near-surface resource definition. • 12,000m of RC and diamond drilling planned for 2026 as part of resource development and exploration drilling programs. Elizabeth Hill Mine – Mineralisation Extension Growth Near surface weathered zone Down plunge mineralisation 2026 Goal: Resource Definition LONG SECTION ALONG MUNNI MUNNI FAULT 1 Purple holes represent planned 2026 extensional drilling at Elizabeth Hill North, targeting mineralisation identified in earlier aircore drilling. 9 2026 WCE Exploration Timeline Schedule for Discovery, Resource Growth & Development Mar Apr May Jun Jul Aug Sep Oct Nov Dec Feb Jan Q1/CY26 Q2/CY26 Q3/CY26 Q4/CY26 EH North RC Drill Program EH North RC Assay Results EH South RC Drill Program EH South RC Assay Results EH Deeps DD Program EH Deep DD Assay Results 4,000m RC program EH Main DD Program EH South DD Program EH Main DD Assay Results EH South DD Assay Results 6,000m DD Program 2025 EH North, South, Main Aircore Assay Results 2025 EH Main DD Assay Results Geophysical Surveys – Mag, EM, IP, CSAMT EH Main & TSF Metallurgical Testwork Program EH South RC Drill Program Regional AC Drilling Optional – 2,000m Regional AC Drilling Assay Results EH Resource Estimate Update - Final EH Open Pit Scoping Study (PEA) Note: DD= Diamond Drill hole, EH = Elizabeth Hill mine lease, CY = Calendar Year ` Planned 12,000m drilling, contingent on exploration success and staged program approvals. 2 • Historic Elizabeth Hill head grade of 2,194 g/t Ag. • 1.2Moz Ag from 16,830t1. • Recent hits include: • 27.4m at 1,314g/t Ag including 33,107g/t Ag; (25WCDD14)2. • Visible native silver in 9 of 13 recent holes2. 1 • Granted Mining Lease; past production paused at ~US$5/oz (2000). • 180 km² of tenure on the Munni Munni Fault. • Established district with nearby processing optionality. 1 WAMEX Annual Report, 1 April 2014 to 31 March 2015, Elizabeth Hill Silver Project, Global Strategic Metals NL, p16. 2 Refer to West Coast Silver Ltd ASX announcements dated 16 July 2025 & 22 August 2025 & 4 February 2026. . Goal: Discover Elizabeth Hill-style repeat deposits near the mine and creating near-term production opportunity West Coast: Pure Play Silver Historic WA mine on granted Mining Lease Bonanza-grade silver Grade: Ground: 10 3 A. At the mine: open-pit potential. B. Near the mine: multiple near- mine targets. C. Regional exploration: surface silver up to 490 g/t. • 4,000m RC drill program in March 2026 Near-surface ounces anddistrict-scaleupside Growth: Open-pit, underground and new mine potential Potential to fast-track mining ‘Grade is King’ Historic mine expansion and new discovery potential 11 Capital Structure1 Share Performance 1 As of 25 March 2026; Cash as at 5 March 2026. Shares on Issue 358,869,213 Share Price A$0.17 Market Capitalisation A$61.0m Cash A$5.8m Implied Enterprise Value A$55.2m Average Daily Turnover ($) 6 months $573,429 Corporate Overview Ownership Structure Note: As of 25 March 2026. Balance 56% Top Twenty 44% Institutions, 16.87% Retail, 56.51% Insiders, 14.65% ASX:WCE ~8.5% 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 0.00 0.05 0.10 0.15 0.20 0.25 0.30 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 Volume (m) Share Price ($/sh) Volume Price Source: S&P Capital IQ Pro. 1https://sprottetfs.com/slvr-sprott-silver-miners-physical-silver-etf/ WCE ~US$0.6m investment in the Sprott Silver Miners & Physical Silver ETF (NASDAQ: SLVR)1 12 Key Executive and Management Mr Reddicliffe is a geologist with over 40 years’ exploration and evaluation experience primarily focused on Australia. Fellow of the Australian Institute of Mining and Metallurgy. Current Executive of GreenTech Metals (ASX:GRE) and Non-Executive Director of Gibb River Diamonds (ASX:GIB). Mr Thomas Reddicliffe NON-EXECUTIVE DIRECTOR Mr Garlick is a finance, governance, and accounting professional with experience across nickel, copper, lead, and PGM exploration, development, and operations. He has held senior roles globally, including at Normandy Mining (now Newmont), Platinum Australia, and MI Energy. He is currently a Non-Executive Director of Artemis Resources (ASX:ARV). Mr Bruce Garlick EXECUTIVE CHAIRMAN Technical Advisory Board TECHNICAL ADVISORS David Lewis Technical Consultant Ian Stockton ERM Consultants Driven by a Highly Experienced Team With Intimate Asset Knowledge Simon Tonkin Business Development Manager ex Stifel Nicolaus, Canaccord Corporate Mr Sergei Smolonogov is a geologist with 30+ years’ global experience in gold, copper and base-metals exploration and mine geology. He has held senior roles with Adriatic Metals (ASX:ADT), KAZ Minerals and Barrick, and was a key technical leader in advancing the Rupice polymetallic deposit into production. Mr Sergei Smolonogov TECHNICAL DIRECTOR* * Technical Director is a management and non-Board role Contact ASX | WCE One of Australia’s highest-grade silver projects Elizabeth Hill westcoastsilver.com.au Bruce Garlick Executive Chairman +61 437 393 6000 info@westcoastsilver.com.au Investor & Media Relations Dannika Warburton - Investability +61 401 094 261 westcoastsilver@investability.com.au