# WIN: $8m Received With Transaction Completion Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03148602 Publisher: asx Original announcement: 2026-10-05T21:12:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-05T22:27:35.483Z Atlas analysis updated: 2026-10-05T22:27:35.483Z - Company: WIN Metals Ltd - Ticker: WIN - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: Nickel, Lithium - Document categories: Agreement transaction, Capital raise, Resource update - Extracted: 2026-10-05 22:27:36 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary WIN Metals Ltd has completed its tenure rationalisation transaction with Astral Resources NL, receiving $8.05 million, with a further $1 million due upon lease transfer. This cash injection will fund the restart of the Radio gold mine and planned drilling at Princess Royal and Stumpy Projects to expand its resource pipeline. The company will also evaluate gold prospectivity on newly acquired gold rights. Reasoning: WIN Metals has completed a significant tenure rationalisation transaction, receiving $8.05 million, which will fund near-term development plans for its gold projects and future exploration. - Positive factor: transaction\_completed - Positive factor: funds\_received - Positive factor: project\_funding\_secured Facts used in scoring: 30 ## Classification and evidence **transaction\_completed** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document confirms the completion of a tenure rationalisation transaction. Evidence · text > WIN Metals Ltd \(ASX: WIN\) \(WIN or the Company\) is pleased to confirm completion of its tenure rationalisation transaction with Astral Resources NL \(ASX: AAR\) **funds\_received** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company has received a completion payment of $8.05 million. Evidence · text > receipt of the completion payment of $8,050,000 excluding GST. **project\_funding\_secured** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The received cash injection will enable the company to progress near-term development plans for its gold mine and future drilling. Evidence · text > This cash injection is a real shot in the arm for WIN Metals which will enable us to progress our near-term development plans for the restart of the Radio gold mine. **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The report states that information relating to exploration results and mineral resource estimates is based on the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Evidence · text > Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ **QP Signed** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Mr Chris Hesford, a full-time employee of WIN Metals Ltd and a member of the Australian Institute of Geoscientists, is named as the Competent Person and consents to the inclusion of his information. Evidence · text > Mr Chris Hesford, who is a full-time employee of WIN Metals Ltd. Mr Hesford is a member of the Australian Institute of Geoscientists. Mr Hesford 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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The Butchers Creek Gold Project resource estimate has an effective date of April 2025, which is over one year old. Evidence · table > Apr-25 Context: Butchers Creek **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A portion of the Butchers Creek Gold Project resource is classified as Inferred, which is a speculative category with limited drilling. Evidence · table > Inferred Context: 1.65 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The Golden Crown deposit resource estimate has an effective date of June 2021, which is over two years old. Evidence · table > Jun-21 Context: Golden Crown **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Golden Crown deposit resource is classified as Inferred, which is a speculative category with limited drilling. Evidence · table > Inferred Context: 0.40 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A portion of the Radio Gold Project resource is classified as Inferred, which is a speculative category with limited drilling. Evidence · table > Inferred Context: 166,000 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the Mt Edwards Nickel Project resources are classified as Inferred, which is a speculative category with limited drilling. Evidence · table > Inferred Context: 0.87 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The Mt Edwards Lithium Project resource estimate has an effective date of November 2023, which is over two years old. Evidence · text > 2 ASX:WIN “375% Growth in Faraday-Trainline Lithium Mineral Resource” Released 8 November 2023 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A portion of the Mt Edwards Lithium Project resources are classified as Inferred, which is a speculative category with limited drilling. Evidence · table > Inferred Context: 220 ## Extracted facts Stored fact records: 29. Some facts used in scoring do not have a stored record. ## Resource Estimates (29) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-1) Butchers Creek Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Butchers Creek Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:7bdf4dc7b62f3bcd7477 #### Resource Data - Category: indicated - Tonnes: 3580000 - Grade: 2.24 - Grade Unit: g/t - Contained Metal: 258000 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-04-16 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-04-16T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Butchers Creek Gold Project, effective April 2025, but is over one year old. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Stale Estimate Evidence · table > 2.24 Context: 3.58 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-2) Butchers Creek Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Butchers Creek Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:9ae804e9b21fe970c3fa #### Resource Data - Category: inferred - Tonnes: 1650000 - Grade: 1.18 - Grade Unit: g/t - Contained Metal: 63000 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-04-16 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-04-16T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Butchers Creek Gold Project, effective April 2025, but is over one year old and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Stale Estimate - Negative factor: Inferred Resource Evidence · table > 1.18 Context: 1.65 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-3) Butchers Creek Gold Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Butchers Creek Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:a47e5452b2304cea3a72 - Deposit or zone: Golden Crown #### Resource Data - Category: inferred - Tonnes: 400000 - Grade: 3.1 - Grade Unit: g/t - Contained Metal: 38000 - Contained Unit: oz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2021-06-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-06-01T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Golden Crown deposit, effective June 2021, which is over two years old and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Stale Estimate - Negative factor: Inferred Resource Evidence · table > 3.10 Context: 0.40 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.3 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-4) Radio · gold Historical result Needs review: historical\_restatement #### Identity - Project: Radio - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:23dd4073714b9cf9ce09 #### Resource Data - Category: indicated - Tonnes: 200000 - Grade: 4 - Grade Unit: g/t - Contained Metal: 25500 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-06-02 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-02T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Radio Gold Project, effective June 2026. - Positive factor: JORC Compliant - Positive factor: QP Signed Evidence · table > 4.0 Context: 200,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-5) Radio · gold Historical result Needs review: historical\_restatement #### Identity - Project: Radio - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:3307eab5277a70644631 #### Resource Data - Category: inferred - Tonnes: 166000 - Grade: 4.5 - Grade Unit: g/t - Contained Metal: 24100 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-06-02 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-02T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Radio Gold Project, effective June 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 4.5 Context: 166,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-6) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:d9e64c984a4c24448a76 - Deposit or zone: Gillett #### Resource Data - Category: indicated - Tonnes: 2270000 - Grade: 1.35 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Gillett deposit within Mt Edwards Nickel Project, effective September 2026. - Positive factor: JORC Compliant - Positive factor: QP Signed Evidence · table > 1.35 Context: 2.27 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-7) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:3dd46674fcae3116a8ea - Deposit or zone: Gillett #### Resource Data - Category: inferred - Tonnes: 870000 - Grade: 1.16 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Gillett deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.16 Context: 0.87 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-8) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:236141b02033cf0f9ba6 - Deposit or zone: Widgie 3 #### Resource Data - Category: indicated - Tonnes: 510000 - Grade: 1.34 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Widgie 3 deposit within Mt Edwards Nickel Project, effective September 2026. - Positive factor: JORC Compliant - Positive factor: QP Signed Evidence · table > 1.34 Context: 0.51 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-9) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:409270b41db6448fee73 - Deposit or zone: Widgie 3 #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 1.95 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Widgie 3 deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.95 Context: 0.22 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-10) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:ac8d270cc1fe8bc4e105 - Deposit or zone: Widgie Townsite #### Resource Data - Category: indicated - Tonnes: 1650000 - Grade: 1.6 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Widgie Townsite deposit within Mt Edwards Nickel Project, effective September 2026. - Positive factor: JORC Compliant - Positive factor: QP Signed Evidence · table > 1.60 Context: 1.65 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-11) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:fa4cbe117b074fa2807f - Deposit or zone: Widgie Townsite #### Resource Data - Category: inferred - Tonnes: 850000 - Grade: 1.38 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Widgie Townsite deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.38 Context: 0.85 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-12) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:98d825ac1165198ae2e3 - Deposit or zone: Armstrong #### Resource Data - Category: indicated - Tonnes: 950000 - Grade: 1.45 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Armstrong deposit within Mt Edwards Nickel Project, effective September 2026. - Positive factor: JORC Compliant - Positive factor: QP Signed Evidence · table > 1.45 Context: 0.95 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-13) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:a91da72dfe187df26cf6 - Deposit or zone: Armstrong #### Resource Data - Category: inferred - Tonnes: 10000 - Grade: 1.04 - Grade Unit: % - Cutoff Grade: 0.7 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Armstrong deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.04 Context: 0.01 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-14) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:2714f1a078f2e330eb43 - Deposit or zone: 132N #### Resource Data - Category: indicated - Tonnes: 30000 - Grade: 2.9 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for 132N deposit within Mt Edwards Nickel Project, effective September 2026. - Positive factor: JORC Compliant - Positive factor: QP Signed Evidence · table > 2.90 Context: 0.03 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-15) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:ddad613a5ca947f22140 - Deposit or zone: 132N #### Resource Data - Category: inferred - Tonnes: 430000 - Grade: 1.9 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for 132N deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.90 Context: 0.43 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-16) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:66778c1cb2676af44f90 - Deposit or zone: Cooke #### Resource Data - Category: inferred - Tonnes: 150000 - Grade: 1.3 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Cooke deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.30 Context: 0.15 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-17) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:136aa8255b2b10be391d - Deposit or zone: Inco Boundary #### Resource Data - Category: inferred - Tonnes: 460000 - Grade: 1.2 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Inco Boundary deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.20 Context: 0.46 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-18) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:c9d1861427ef9074adb3 - Deposit or zone: McEwen #### Resource Data - Category: inferred - Tonnes: 1130000 - Grade: 1.35 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for McEwen deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.35 Context: 1.13 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-19) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:b570b90ed8ed8f8edbcd - Deposit or zone: McEwen Hangingwall #### Resource Data - Category: inferred - Tonnes: 1920000 - Grade: 1.36 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for McEwen Hangingwall deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.36 Context: 1.92 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-20) Mt Edwards Nickel Project · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Nickel Project - Commodity: nickel - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:cb0b5ca79aa8359fad60 - Deposit or zone: Mt Edwards 26N #### Resource Data - Category: inferred - Tonnes: 870000 - Grade: 1.43 - Grade Unit: % - Cutoff Grade: 1 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-09-28T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Mt Edwards 26N deposit within Mt Edwards Nickel Project, effective September 2026, and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 1.43 Context: 0.87 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-21) Mt Edwards Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:f87cd71aa63e361c2ead - Deposit or zone: Faraday #### Resource Data - Category: measured - Tonnes: 550000 - Grade: 0.75 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2023-11-08 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-08T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Measured resource for Faraday deposit within Mt Edwards Lithium Project, effective November 2023, but is over two years old. - Positive factor: JORC Compliant - Positive factor: QP Signed - Positive factor: Measured Resource - Negative factor: Stale Estimate Evidence · table > 0.75 Context: 550 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-22) Mt Edwards Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:ef5b6f792d4d7a0e3b96 - Deposit or zone: Faraday #### Resource Data - Category: indicated - Tonnes: 250000 - Grade: 0.66 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2023-11-08 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-08T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Faraday deposit within Mt Edwards Lithium Project, effective November 2023, but is over two years old. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Stale Estimate Evidence · table > 0.66 Context: 250 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-23) Mt Edwards Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:626284e63f05365c0ccd - Deposit or zone: Faraday #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 0.61 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2023-11-08 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-08T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Faraday deposit within Mt Edwards Lithium Project, effective November 2023, but is over two years old and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Stale Estimate - Negative factor: Inferred Resource Evidence · table > 0.61 Context: 220 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-24) Mt Edwards Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:b9608668386f5b708a81 - Deposit or zone: Trainline #### Resource Data - Category: indicated - Tonnes: 780000 - Grade: 0.69 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2023-11-08 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-08T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Indicated resource for Trainline deposit within Mt Edwards Lithium Project, effective November 2023, but is over two years old. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Stale Estimate Evidence · table > 0.69 Context: 780 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-25) Mt Edwards Lithium Project · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Mt Edwards Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:6577c8cc705e65a5872c - Deposit or zone: Trainline #### Resource Data - Category: inferred - Tonnes: 160000 - Grade: 0.63 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2023-11-08 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-11-08T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Trainline deposit within Mt Edwards Lithium Project, effective November 2023, but is over two years old and in the lowest confidence category. - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Stale Estimate - Negative factor: Inferred Resource Evidence · table > 0.63 Context: 160 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.9 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-26) WIN Metals Butchers Creek · gold #### Identity - Project: WIN Metals Butchers Creek - Commodity: gold - Ticker: WIN #### Resource scope - Estimate type: resource - Resource group id: resource:9923962b749d2f5e86fd #### Resource Data - Category: indicated - Tonnes: 3580000 - Grade: 2.24 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 2.24 Context: 3.58 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-27) WIN Metals Butchers Creek · gold #### Identity - Project: WIN Metals Butchers Creek - Commodity: gold - Ticker: WIN #### Resource scope - Estimate type: resource - Resource group id: resource:6a3b0ca0981c80834a6b #### Resource Data - Category: inferred - Tonnes: 1650000 - Grade: 1.18 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 1.18 Context: 1.65 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-28) WIN Metals Butchers Creek · gold #### Identity - Project: WIN Metals Butchers Creek - Commodity: gold - Ticker: WIN #### Resource scope - Estimate type: resource - Resource group id: resource:4c36eed37b3b31dd16b8 #### Resource Data - Category: inferred - Tonnes: 400000 - Grade: 3.1 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Expanded from multi-commodity resource table for completeness. - Negative factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 3.10 Context: 0.40 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/win-8m-received-with-transaction-completion--eb547870-970b-4d9e-9f1a-f2672f545970#fact-resource-facts-29) Radio · gold Historical result Needs review: historical\_restatement #### Identity - Project: Radio - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: WIN #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Chris Hesford - Resource group id: resource:82bca797f959e898d04d #### Resource Data - Category: inferred - Tonnes: 366000 - Grade: 4.2 - Grade Unit: g/t - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-06-02 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-06-02T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical Inferred resource for Radio Gold Project, effective June 2026, and in the lowest confidence category. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: JORC Compliant - Positive factor: QP Signed - Negative factor: Inferred Resource Evidence · table > 4.2 Context: 366,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.