• WIA Gold announced a 38% increase in resources at Namibia’s Kokoseb gold deposit, now totaling 2.93 million ounces

• Of this, 1.81 million ounces (62%) are newly classified as "indicated," enhancing confidence in the deposit

• The update supports ongoing studies and exploration aimed at advancing Kokoseb toward a potential gold mine

The Kokoseb gold deposit in Namibia now contains 2.93 million ounces of mineral resources, its Australian operator WIA Gold announced Wednesday, July 16, 2025. This represents a 38% increase from the project's previously reported 2.12 million ounces.

The estimate is based on a total of 89 million tonnes of ore at a grade of 1 gram per ton. Of the 2.93 million ounces, 1.81 million ounces, or 62%, are now classified as "indicated." This marks the first time Kokoseb’s resources have achieved this classification, which signifies a higher level of confidence than the "inferred" category previously assigned to the project.

This progress supports WIA Gold’s plans to develop the asset into a future gold mine in Namibia. The company intends to use this new resource estimate in a scoping study currently underway. This study is expected to lead to a definitive feasibility study by mid-2026. Meanwhile, WIA Gold plans to continue exploration work at the site to improve confidence in the existing resources.

WIA Gold is planning shallow infill drilling to convert more resources into the indicated category. The successful execution of this plan could be a key step, though it does not guarantee the viability of a future commercial operation at Kokoseb.

Further work to convert resources into more advanced categories, such as measured resources and then reserves, along with the completion of studies demonstrating the project’s economic potential, are the next major milestones in this process.

Aurel Sèdjro Houenou