Announcement PDF ASX Announcement ASX:WIN 31 January 2024 December 2023 Quarterly Report Highlights • • • • • 375% Growth in Faraday-Trainline Lithium Mineral Resource Estimate (MRE) to 1.96Mt @ 0.69% Li2O, including: • High-grade, near surface zone of 373kt @ 1.00% Li2O (0.85% Li2O cut-off) • Measured and Indicated Mineral Resources total 1.57Mt @ 0.71% Li2O • Maiden MRE for Trainline lithium deposit of 0.94Mt @ 0.68% Li2O Trainline Lithium Prospect infill drilling returns high-grade mineralisation, including: • 9m @ 1.15% Li2O (23MERC338) • 9m @ 1.01% Li2O (23MERC339) Armstrong Nickel Deposit updated MRE to 959Kt @ 1.4% Ni for 13,820 nickel tonnes, including: • Palladium + Platinum + Gold (3PGE) endowment with Au (0.16g/t), Pt (0.16g/t) and Pd (0.35g/t) 0.67g/t 3PGE (contained metal equating to 4,900oz Au, 5,020oz Pt and 10,710oz Pd) • 19% increase in Indicated Resources to 13,720 nickel tonnes versus the 2022 MRE • 99% of sulphide resource is now in the Indicated Resource Category 132N Nickel Deposit infill drilling confirmed high-grade nickel mineralisation below the historic open pit: • Mineralisation remains open at depth and the structure’s lower channel flank remains unconstrained • Geological modelling is underway with updated Mineral Resource Estimate to be completed in early 2024 Subsequent to the end of the Quarter three further MRE updates were released; Gillett, Widgie 3 and Widgie Townsite Widgie Nickel Ltd (ASX: WIN) (“Widgie” or “the Company”) is pleased to present its Quarterly Activities Report for the period ended 31 December 2023. Widgie Nickel Managing Director and CEO, Mr Steve Norregaard, commented: "I am very pleased with the solid progress we made in the December Quarter as we continue to develop our understanding and confidence in our deposits. The team has delivered two mineral resource upgrades within the period, which is testament to the hard work being put in on site. “We further expanded Widgie’s total lithium resource, improving confidence at Faraday and defining the maiden resource at Trainline. There is plenty of work to be done on the ground and we are focused on positioning the Company for value to our shareholders. ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 1 December 2023 Quarterly Activities Report 31 January 2024 “At the Mt Edwards Nickel Project, we upgraded the Armstrong MRE and have subsequent to the end of the quarter announced updates to Gillett, Widgie 3 and Widgie Townsite. These updates will inform the Scoping Study, where we aim to demonstrate that Widgie’s resource base is able to support a standalone nickel processing operation.” Faraday-Trainline Lithium Project The Faraday-Trainline Lithium Project area is located on Mining Lease M15/102, 4km west north-west of the Widgiemooltha Township. Access is via the Coolgardie-Norseman Rd, 63km south of Coolgardie. Faraday and Trainline are central to Widgie’s Mt Edwards Project, covering a significant land holding within the “Lithium Corridor” between Mt Marion to the north, Pioneer Dome to the south and Bald Hill to the east (Figure 1). Figure 1: Regional Geology showing the Faraday - Trainline Lithium Project location, and surrounding lithium projects ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 2 December 2023 Quarterly Activities Report 31 January 2024 Faraday-Trainline Lithium Project MRE Update During the December Quarter, the Company was pleased to announce the updated Mineral Resource Estimate (MRE) for Faraday coupled with a maiden MRE for the Trainline Lithium Deposit, reported in accordance with the 2012 JORC Code 1. Cube Consulting completed the MRE which has been reported above a cut-off grade of 0.30% Li2O to a depth of 310mRL (65m below surface) and 0.50% Li2O below 310mRL to 250mRL (Table 1). Table 1: Widgie Nickel Total Lithium MRE by classification and deposit (November 2023) Deposit Faraday Trainline Total Classification Measured Indicated Inferred Sub Total Measured Indicated Inferred Sub Total Measured Indicated Inferred Total Tonnes (t) 550,000 250,000 220,000 1,020,000 780,000 160,000 940,000 550,000 1,020,000 390,000 1,960,000 Li2O (%) 0.75 0.66 0.61 0.70 0.69 0.63 0.68 0.75 0.68 0.62 0.69 Fe (%) 1.24 1.73 2.22 1.57 1.59 1.66 1.60 1.24 1.62 1.98 1.59 Li2O (t) 4,100 1,600 1,400 7,100 5,300 1,000 6,300 4,100 7,000 2,400 13,500 The November 2023 Faraday-Trainline MRE was informed by 17,277m of Reverse Circulation(RC) drilling (419 holes) and 460m of diamond drilling (DD) (13 holes) carried out in late 2022 and 2023 (Figure 2). Approximately 1,000kg of representative lithium-bearing diamond core was collected for variability test-work to determine mineralogy and metallurgical characteristics across the entire deposit, seeking to confirm the ability to produce a saleable concentrate, as previously reported 2. A cut-off grade of 0.30% Li2O was chosen to reflect Reasonable Prospects for Eventual Economic Extraction (RPEEE) of the MRE assuming shallow open pit mining above 310mRL. An elevated cut-off grade of 0.50% was applied to material below 310mRl to the bottom of the mineral resource at a vertical depth of 130m to reflect increased mining costs associated with potential underground mining or deep open pit mining. This is aligned with cut-off grades applied for the reporting of lithium mineral resources hosted in spodumene-rich pegmatites currently being mined elsewhere in Australia. 1 2 ASX Announcement 8 November 2023 – 375% Growth in Faraday-Trainline Lithium Mineral Resource ASX Announcement 29 March 2023 – Maiden Resource Proves up Faraday DSO Starter Pit Opportunity ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 3 December 2023 Quarterly Activities Report 31 January 2024 Figure 2: Faraday-Trainline block model displaying Li2O % and drilling (black traces) – Oblique view looking north-east The Company updated the maiden MRE for Faraday after assay results suggested a discrepancy between diamond and RC results received over previous campaigns. An internal investigation concluded the initial assaying methodology recommended by the laboratory was inappropriate for Faraday mineralisation, and a comprehensive re-assaying program of 3,371 samples of mineralisation confirmed a positive bias using a fusion method 3. Infill Drilling Delivers High-Grade Lithium at Trainline During the Quarter, the Company was pleased to release results of infill reverse circulation (RC) drilling at the Trainline Prospect immediately north of the Faraday Lithium Deposit 4. The Trainline lithium prospect is located approximately 75m to the north of Faraday Lithium Deposit (Figure 3), which are separated by a cross cutting east-west dolerite dyke that truncates the pegmatite bodies to the north and south. The stacked pegmatites are intruded into the steeply dipping mafic/ultramafic country rock. The pegmatites dip shallowly to the west at 20o and are found to be outcropping in places but generally under a thin layer of cover with widths varying from 1m to 15m in thickness, with greater thicknesses observed where the pegmatite exists within an ultramafic host. The pegmatites have a combined strike length of 800m north-south and remain open at depth. This RC infill drilling campaign was designed to reduce the drill spacing from 80m by 80m drilling to 40m by 40m focused on the higher-grade core (Figure 3). The infill drilling confirmed the continuity of the lithium bearing pegmatite returning high-grade results above 1% Li2O, including 9m @ 1.15% Li2O (23MERC338) and 9m @ 1.01% Li2O (23MERC339). 3 4 ASX Announcement 26 October 2023 – Material Uplift in Faraday Lithium Grades ASX Announcement 2 October 2023 – Drilling Delivers High-grade Lithium at Trainline ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 4 December 2023 Quarterly Activities Report 31 January 2024 A’ A Figure 3: Plan view of recent Trainline (blue wireframe) lithium infill drilling and Faraday Mineral resource to the south ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 5 December 2023 Quarterly Activities Report 31 January 2024 Next steps for Faraday-Trainline Lithium Project Future exploration work will focus on defining potential stacked pegmatites at depth within the favourable ultramafic unit below defined mineralisation in addition to extending the known mineralisation down dip to the west. Infill drilling to 20m x 20m at Trainline to be completed to provide increased level of confidence in the geology and mineral resource. Desktop studies have commenced on the wider exploration potential for Lithium within Widgie’s tenure. This will be a major focus for the exploration team going into 2024. Variability testing of mineralisation at both deposits to confirm overall metallurgical characteristics is underway to provide confirmation as to the most appropriate processing route. Mine design for an expanded operation will now be undertaken to determine ultimate pit limits and an optimised exploitation strategy. Active discussions with prospective offtake parties continued to advance for the Faraday-Trainline Lithium Project 5. Given the prevailing lower lithium prices these further discussions have now paused. 5 ASX Announcement 18 December 2023 – Mt Edwards Scoping Study & Lithium Update ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 6 December 2023 Quarterly Activities Report 31 January 2024 Mt Edwards Nickel Project Widgie controls a dominant ~240 km2 land package over the prolific nickel-producing Widgiemooltha Dome in Western Australia. The Mt Edwards Nickel Project is positioned adjacent to key infrastructure, located just 80km south of the major regional centre of Kalgoorlie, 30km south-west of Kambalda and along strike to the north from Wyloo’s Cassini Nickel mine (Figure 1). The Mt Edwards Nickel Project is comprised of 12 separate deposits with a total Mineral Resource Estimate of 11.45 Mt @ 1.5% Ni for 171,930t as at the end of the Quarter. Five of the deposits are subject to a Scoping Study contemplating development of a standalone nickel concentrator at Mt Edwards. During the Quarter, the Company reported that the Scoping Study completion date5 had been revised to February 2024. This will allow for inclusion of updated Mineral Resource Estimates for the Widgie 3 and Gillett Deposits in order to increase the proportion of Indicated material in the early years of the mine plan. The Widgie 3 & Gillett deposits at Mt Edwards have undergone extensive infill drilling since the previous estimates with these new results initially excluded from the Scoping Study due to timing cut-offs. The increased confidence Scoping Study is expected to provide the foundation for the Company to then move towards completion of a Pre-feasibility Study during 2024. Table 2: Widgie Nickel Total Nickel Mineral Resources as at 31 December 2023 Deposit Gillett Indicated Tonnes (kt) Nickel (%) 915 1.6 Widgie 3 Widgie Townsite 1,183 1.7 Munda Inferred TOTAL Resources Tonnes (kt) Nickel (%) Tonnes (kt) Nickel (%) Nickel Tonnes 643 1.3 626 1.5 1,558 1.5 23,400 626 1.5 9,160 1,293 1.5 2,476 1.6 39,300 508 1.9 508 1.9 9,400 Armstrong 949 1.5 10 1.0 959 1.4 13,820 132N 34 2.9 426 1.9 460 2.0 9,050 Cooke 154 1.3 154 1.3 2,000 Inco Boundary 464 1.2 464 1.2 5,590 McEwen 1,133 1.4 1,133 1.4 15,340 McEwen Hangingwall 1,916 1.4 1,916 1.4 26,110 Mt Edwards 26N 871 1.4 871 1.4 12,400 Zabel 272 1.9 53 2.0 325 2.0 6,360 TOTAL 3,353 1.6 8,097 1.4 11,450 1.5 171,930 All Resources reported at 1.0% Ni cut-off except for Armstrong reported at 0.7% Ni cut-off Tonnes and grades have been rounded to reflect the relative uncertainty of the estimates Armstrong Deposit – Mineral Resource Update During the Quarter, the Company was pleased to announce the updated Mineral Resource Estimate of 959Kt @ 1.4% Ni for 13,820 nickel tonnes for the Armstrong Deposit, reported in accordance with the 2012 JORC Code 6. Cube Consulting completed the MRE which was reported above a cut-off grade of 0.7% Ni for in-situ sulphide and 0% Ni for historic stockpile resources (Table 3). 6 ASX Announcement 13 December 2023 - Armstrong Mineral Resource Update ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 7 December 2023 Quarterly Activities Report 31 January 2024 Table 3: Armstrong MRE by Classification and Resource type (December 2023) Classification Domain Tonnes (kt) Ni (%) Nickel (t) Cu (%) Co (%) Fe (%) As (ppm) MgO (%) 3PGE (ppm) Indicated Massive Disseminated Stockpile Sub-Total 176 744 29 949 3.37 1.01 1.14 1.45 5,910 7,480 330 13,720 0.28 0.07 0.09 0.11 0.04 0.02 0.02 0.02 11.1 7.1 7.7 7.8 990 190 410 350 21.9 31.1 26.7 29.3 1.40 0.52 0.67 Massive Disseminated Sub-Total 10 10 1.04 1.04 100 100 0.07 0.07 0.02 0.02 7.1 7.1 180 180 30.9 30.9 0.60 0.60 959 1.44 13,820 0.11 0.02 7.8 350 29.3 0.67 Inferred TOTAL Tonnes and grades have been rounded to reflect the relative uncertainty of the estimate. Stockpile quoted at 0.0% Ni cut-off. This included Palladium + Platinum + Gold (3PGE) endowment with Au (0.16g/t), Pt (0.16g/t) and Pd (0.35g/t) 0.67g/t 3PGE (contained metal equating to 4,900oz Au, 5,020oz Pt and 10,710oz Pd). The upgrade represented a 19% increase in Indicated resources to 13,720 nickel tonnes versus the 2022 Mineral Resource Estimate (MRE). Within the updated MRE 99% of theresource is in the Indicated Resource category. 132N Deposit – High-Grade Nickel Mineralisation Defined Below Open Pit During the period, Widgie reported results from infill drilling at its 132N Nickel Deposit (123N 7). 132N is located on Mining Lease M15/101, 6km north-west of the Widgiemooltha township. Access is via the Coolgardie-Esperance Highway, 63km south of Coolgardie (Refer Figure 1). The drilling program at 132N was designed to increase the level of geological confidence in the Mineral Resource below the current open pit to aid future underground mining studies. Previous mining of the 132N deposit was carried out by WMC and Consolidated Minerals in two phases of open pit mining in 1990 and 2008, mining a total of 63kt tonnes at 2.9% Ni. Geological modelling is underway with updated Mineral Resource Estimate for 132N to be completed in early 2024. The current 132N Mineral Resource Estimate (MRE) stands at 460kt at 2.0% Ni for 9,050 Ni tonnes at a 1% Ni cutoff (Table 2). Table 2: 132N Mineral Resource Estimate (Sept 2020) published in Widgie Nickel Prospectus dated 19 Aug 2021 Deposit 132N Indicated Tonnes (kt) 34 Nickel (%) 2.9 Inferred Tonnes (kt) 426 TOTAL Resource Nickel (%) 1.9 Tonnes (kt) 460 Nickel (%) 2.0 Nickel Tonnes 9,050 Drilling confirmed high-grade massive sulphide mineralisation located on the basal contact within a broader zone of disseminated sulphide mineralisation within the hangingwall ultramafic unit. Massive sulphide mineralisation intersected in 23MERCD112 demonstrates the typical massive sulphide mineralisation upon the basalt contact, grading into disseminated sulphides into the overlying ultramafic unit (Figure 4). 7 ASX Announcement 20 November 2023 – High-Grade Nickel Mineralisation Defined Below 132N Open Pit ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 8 December 2023 Quarterly Activities Report 31 January 2024 Figure 4: 23MERCD112 displaying individual Ni assay results from disseminated to massive sulphide mineralisation Drilling highlights included: • 23MERCD112 9.14m @ 10.44% Ni from 330.00m Incl. • 23MERCD111 11.33m @ 2.77% Ni from 314.53m Incl. • 2.61m @ 18.88% Ni from 335.44m 23MERCD104 4.51m @ 5.30% Ni from 315.33m 9.98m @ 2.61% Ni from 336.02m Incl. 3.00m @ 5.72% Ni from 341.00m • 23MERCD113 6.53m @ 1.79% Ni from 327.16m • 23MERCD114 18.40m @ 0.81% Ni from 331.60m • 23MERCD096 14.17m @ 0.88% Ni from 345.83m ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 9 December 2023 Quarterly Activities Report 31 January 2024 Figure 5 shows a long section of 132N with 2023 and historic drill pierce points against 2020 MRE wireframes and the 132N open pit. 2023 drilling is shown as solid fill points with pre 2023 drilling represented as hollow circles. Results are coloured by Ni% x Interval metres. Figure 5: 132N Longsection looking East. Exisitng open pit and 2020 MRE wireframes (grey), nickel % x interval meters solid symbol 2023 drilling, hollow symbol = historic drilling results) ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 10 December 2023 Quarterly Activities Report 31 January 2024 Figure 6 highlights a high-grade pod drilled in 2023 extending approximately 150m along strike including mineralised intercept of 23MERCD112 (9.14m @ 10.44% Ni). These results are highly encouraging in that they demonstrate the potential to see the resource expand down dip of the mineralised trough which was previously considered to be closed off. Figure 6 also demonstrates that 132N mineralisation remains open both at depth and up plunge of the high-grade pod where no drilling exists. This represents a high order drill target at 132N. Figure 6: 132N longsection looking East. 132N high-grade pod with strike extent of 150m, up plunge of high-grade pod is untested and 132N mineralisation remains open at depth ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 11 December 2023 Quarterly Activities Report 31 January 2024 Corporate As at 31 December 2023, Widgie held $2.59 million cash at bank. Full details regarding the Company’s cash movements during the Quarter can be found in the attached Appendix 5B. The Company notes the rapid deterioriation of the nickel and lithium prices and its resultant deletrious effect on equity markets. The Company has sought to wind back expenditures which remain largely in line with existing plans but has implemented further austerity measures to preserve existing cash reserves whilst this period of uncertainty prevails. High cost drilling activities have been curtailed with the primary focus for the forthcoming period being on desk top studies, metallurgical testwork and regional field exploration activities. The Company held its Annual General Meeting on 8 November 2023. All resolutions put to the meeting were passed on a poll, this including full refereshment of the Company’s placment capacity under ASX listing rule 7.1 and approval for the additional 10% placment capacity under 7.1A. Corporate information as at 31 December 2023: ASX code: WIN Board of Directors: Quoted Ordinary shares on issue: 297,945,053 Steve Norregaard – Managing Director & CEO Restricted Ordinary shares on issue: - Andrew Parker – Independent Non-Executive Chairman Unlisted Options ($0.20 to $0.40): 11,694,000 Felicity Repacholi - Independent Non-Executive Director Unlisted Performance Rights 1,649,000 Scott Perry - Independent Non-Executive Director Share price range since listing: $0.087 to $0.67 Share price at end of Quarter: $0.093 Company Secretary: Market cap (at $0.093): $27.7m Graeme Scott ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 12 December 2023 Quarterly Activities Report 31 January 2024 Additional ASX Listing Rule Disclosures ASX Listing Rule 5.3.1: Payments for exploration, evaluation and development during the Quarter totalled $2,890,782 Details of exploration activities undertaken during the Quarter are as described above and in this section. ASX Listing Rule 5.3.2: The Company confirms there were no mining production and development activities undertaken during the Quarter. ASX Listing Rule 5.3.3: The details of the mining tenements, the location and the Company’s beneficial percentage interest held in those Tenements at the end of the Quarter is included in the Table at the end of this as Appendix 1. ASX Listing Rule 5.3.5: payments to related parties or associates of the Company during the Quarter totalled $158,000. The payments were in respect of salaries and superannuation paid to the executive director and directors’ fees payable to the non-executive directors. Approved by: Board of Widgie Nickel Ltd -ENDS- For further details please contact: Media Enquiries Steve Norregaard Fiona Marshall Managing Director White Noise Communications Widgie Nickel fiona@whitenoisecomms.com steve@widgienickel.com.au 0400 512 109 0472 621 529 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 13 December 2023 Quarterly Activities Report 31 January 2024 Competent Person Statement The information in this announcement that relates to exploration results and sampling techniques is based on and fairly represents information and supporting documentation compiled by Mr William Stewart, who is a full-time employee of Widgie Nickel Limited. Mr Stewart is a member of the Australian Institute of Metallurgy and Mining (member no 224335) and Australian Institute of Geoscientists (member no 4982). Mr Stewart has sufficient experience that is relevant to the style of mineralisation and type of deposit 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’. Mr Stewart consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Compliance Statement The information in this report are extracted from the ASX Announcements listed in the table below, which are also available on the Company’s website at www.widgienickel.com.au and the ASX website www.asx.com under the code WIN. 02/10/2023 Drilling Delivers High-Grade Lithium at Trainline 26/10/2023 Material Uplift in Faraday Lithium Grades 08/11/2023 375% Growth in Faraday-Trainline Lithium Mineral Resource 20/11/2023 High-Grade Nickel Mineralisation Defined Below 132N Open Pit 13/12/2023 Armstrong Mineral Resource Update 18/12/2023 Mt Edwards Scoping Study & Lithium Update The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements. Forward Looking Statement Caution regarding Forward Looking Information. This document contains forward looking statements concerning Widgie Nickel Limited. Forward looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties, and other factors. Forward looking statements in this document are based on Widgie's beliefs, opinions and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions, or estimates should change or to reflect other future developments. ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 14 December 2023 Quarterly Activities Report 31 January 2024 Appendix 1 – Tenement Interests There were no changes in the Company’s tenement interests during the Quarter. As of 31 December 2023, the Company has an interest in the following projects and tenements in Western Australia: Project Name Licence Name Beneficial Interest Status Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards Mt Edwards M15/87 M15/699 P15/5905 P15/5906 M15/1899 P15/6362 P15/6387 E15/1665 P15/6408 P15/6539 E15/1749 E15/1929 E15/1864 P15/6570 P15/6612 L15/0426 M15/45 M15/46 M15/48 M15/74 M15/75 M15/77 M15/78 M15/79 M15/80 M15/94 M15/96 M15/97 M15/99 M15/100 M15/101 M15/102 M15/103 M15/105 L15/102 M15/478 M15/633 M15/653 M15/693 M15/698 M15/1271 L15/254 E15/989 L15/280 E15/1505 E15/1507 E15/1576 E15/1583 P15/6092 E15/1553 100% (**) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% 100% (^) 100% (^) 100% (^) 100% (#) 100% (#) 100% (^) 100% (^) 100% (^) 100% (^) 100% (^) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (#) 100% (^) 100% (^) 100% 100% (^) 100% (^) 100% (#) 100% (^) 100% (#) 100% (#) 100% 100% (^) 100% 100% 100% 100% (#) 100% (#) 100% (#) 100% (#) Live Live Live Live Pending Live Live Pending Live Pending Live Pending Pending Live Live Pending Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live Live **Lithium and Nickel Mineral rights only, ^Nickel Mineral rights only, # No gold interest ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 15 December 2023 Quarterly Activities Report 31 January 2024 Appendix 2 – RC Holes drilled during the Quarter. Nil Appendix 3 – DD tails completed during the Quarter. Prospect Tenement Hole ID Depth Easting Northing RL Dip Azi Status Trainline M15/102 23MEDD011 46.9 360574 6516058 369 -60.2 90.6 DD Completed Trainline M15/102 23MEDD012 58.7 360446 6516141 368 -59.7 90.9 DD Completed Faraday M15/102 23MEDD013 13.2 360577 6515576 377 -60.0 89.2 DD Completed McEwen HW M15/653 23MERCD139 420.6 358715 6525450 322 -60.6 81.6 DD Completed McEwen HW M15/653 23MERCD140 243.6 358827 6525412 321 -60.8 79.3 DD Completed McEwen HW M15/653 23MERCD141 357.5 358786 6525342 321 -60.9 79.0 DD Completed McEwen HW M15/653 23MERCD142 297.5 358861 6525279 322 -61.2 79.0 DD Completed McEwen HW M15/653 23MERCD144 268 358929 6525178 321 -60.5 79.6 DD Completed McEwen M15/653 23MERCD145 210.6 359585 6524753 318 -60.6 249.5 DD Completed McEwen M15/653 23MERCD146 300.5 359643 6524751 317 -59.4 249.9 DD Completed McEwen M15/653 23MERCD147 297.5 359606 6524671 318 -55.2 249.8 DD Completed Widgie Townsite M15/94 23MEDD014 8.3 364397 6513736 318 -85.0 54.2 DD Completed Widgie Townsite M15/94 23MEDD015 115 364335 6513692 319 -85.6 61.6 DD Completed Widgie Townsite M15/94 23MEDD016 47.2 364397 6513735 318 -85.0 65.7 DD Completed Gillett M15/94 23MEDD017 59.3 365507 6512858 324 -84.2 66.6 DD Completed ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@widgienickel.com.au www.widgienickel.com.au ASX:WIN 16 Rule 5.5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity WIDGIE NICKEL LIMITED ABN Quarter ended (“current quarter”) 77 648 687 094 31 DECEMBER 2023 Current quarter $A’000 Consolidated statement of cash flows 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for Year to date (6 months) $A’000 - - (a) exploration & evaluation - - (b) development - - (c) production - - (d) staff costs – net of project allocations (159) (315) (e) administration and corporate costs (397) (867) - - 1.3 Dividends received (see note 3) 1.4 In