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Great Western Mining Corporation PLC

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Summary

Project:

M2-Smith

Deposit:M2-Smith
Location:United States
Commodities:Copper
Date:10/10/2017
Report Code:JORC
Report Type:Scoping Study
Project Stage:Pursuing Feasibility Study
Report details:10-10-2017: Great Western Mining Corporation PLC announces a Scoping Study report for its M2-Smith deposit at the M2-Smith project. Technical Scoping Study results incl. pre-tax NPV (8%) of $18.12M, IRR of 11%, LOM of 13yrs. Great Western Mining (AIM: GWM
Resources:(Resource, I+I): 16.99Mt @ 0.525% Cu for 89195t Cu contained at project
CP/QP:[Overall Report]: Bill Cohan (WT Cohan & Assocoates Inc.)
ABSTRACT:Great Western Mining (AIM: GWMO) is pleased to provide the following summary of a JORC compliant Technical Scoping Study recently completed by WT Cohan & Associates Inc. ("WTC") over the Company's M2 copper-gold prospect in Mineral County, Nevada, USA. This independent study assesses the economic viability of developing an open pit and underground mine, heap leach and solvent extraction electro-winning facility ("SX-EW") at M2 which would directly produce copper cathode from the mineral resources identified at near surface and underground copper-gold deposits. Chief Executive, David Fraser commented: "We are really pleased that the Scoping Study has highlighted the economic potential of the M2 prospect. The study demonstrates that the current resource estimate produces positive pre-tax margins at current copper prices and the significant upside potential from future resource upgrades. The drill programmes on M2 and M4 (Target 4) planned for this autumn are the first steps in unlocking this potential. Nevada is a Tier 1 mining jurisdiction and there are only a limited number of such low risk opportunities of this potential size in the developed parts of the world. We will update shareholders as work continues on M2 and M4."

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