Ann: WIN Closes Acquisition of Butchers Creek Gold Project, page-2

Looks good to me.... Mal..

WIN CLOSES ACQUISITION OF BUTCHERS CREEK GOLD PROJECT
Highlights
• WIN Metals Ltd today signed all necessary documentation to close the transaction
with Meteoric Resources (ASX:MEI) to acquire the Butchers Creek Gold Project
(formerly Palm Springs) located in the Kimberley region of Western Australia via a
tenement sale agreement.
• Existing Mineral Resource Estimate of 5.6Mt @ 2.0g/t Au for 357,000oz of gold and a
production history of 52,000oz of gold between 1995 -1997.
WIN Metals Ltd (ASX:WIN) (“WIN” or “the Company”) is pleased to advise that today it completed
all necessary documentation to bring into effect the tenement sale agreement for the acquisition of
the portfolio of tenements previously known as the Palm Springs Gold Project from Meteoric
Resources NL (“Meteoric”) (ASX:MEI) located 30km south-east of Halls Creek in the Kimberley
region of Western Australia (“Acquisition”).
The Gold project comprises an already established high-grade mineral resource of some 357,000oz
(5.6Mt @ 2.0g/t) 1 of gold based around two resource areas, a production history of 52,000oz
produced between 1995 and 1997, a host of advanced high order drill targets from over 60 known
gold occurrences on the 100km2 tenement package.
WIN now refers to the acquired tenements as the “Butchers Creek Gold Project” (“Butchers
Creek” or “Project”) reflective of its primary gold endowment, the historic Butchers Creek Gold mine.

WIN acquires the tenements currently held by Meteoric’s wholly owned subsidiaries, Horrocks
Enterprises Pty Ltd (Horrocks) and Kimberly Resources Pty Ltd (Kimberly).
Consideration for the transaction at completion comprised the following:
I. $1,000,000 + GST in cash; and II. WIN Shares to the value of $1,750,000 (calculated based on a deemed issue price per WIN Share of $0.025) (“Consideration Shares”).
The Consideration Shares are subject to a 12-month voluntary escrow agreement from completion.
Consideration payable post settlement comprises:
I. $1,000,000 + GST payable to Meteoric 18 months after completion; and
1 ASX:WIN announcement “Butchers Creek Gold Project MRE and Exploration Results - Amended”
Released 11 September 2024
WIN Closes Acquisition of Butchers Creek Gold Project
21 November 2024
ABN 77 648 687 094

ASX:WIN 2
II. An additional $1,250,000 + GST upon the production by the Company of 20,000 troy
ounces of gold (in aggregate) at the Project.
The tenement package comprises 3 mining leases (100% of M80/418, 97% of M80/315 & M80/106),
5 exploration licences (E80/4856, 4874, 4976, 5059 & 5584), 3 prospecting licences (P80/1839, 1854
& 1855) and two licence applications (P80/1884 and E80/5660).
As a condition precedent to completing the transaction WIN completed a capital raising of $3.6
million as announced on 31st October 2024, with the majority of the raised funds to be dedicated to
the exploration and development of Butchers Creek.

WIN Metals Managing Director and CEO, Mr Steve Norregaard, commented:
“With the transaction now closed, we welcome Meteoric Resources to the WIN share register as our
new major shareholder.
“The company now has a new strategic direction to unlock value for our shareholders. We firmly
believe we have made a great choice in securing a quality gold asset with ample growth upside and
a proven production history in what we regard as a very much forgotten gold province.
“Our existing nickel and lithium resource base remains firmly part of the portfolio to complement
this new commodity and new project area.
“With our first drill program now concluded we look forward to enlightening the market as results
come to hand”.
CONTINUES TOTAL 16 pages..