Great Western Mining - Half-year Report

Great Western Mining Corporation PLC / AIM: GWMO / Euronext Growth: 8GW

25 September 2025

Great Western Mining Corporation PLC

("Great Western", "GWM" or the "Company")

Half Yearly Report and Unaudited Condensed Financial Statements

Driving discovery and value in Nevada's Walker Lane Belt

Great Western Mining Corporation PLC, a strategic and precious minerals exploration and development company, announces its Interim Results for the six months ended 30 June 2025.

Highlights

·      Loss for period €485,576 (30 June 2024: loss of €441,343 and 31 December 2024: loss of €1,741,056)

·      Completed a share capital reorganisation

·      Raised £1.25 million to progress exploration programmes

·      Advancing critical minerals portfolio in Nevada aligned with U.S. and global trends

·      Drill programmes at flagship Huntoon Copper Project and Rhyolite Dome gold prospect will commence in October

·    Funding discussions to upscale and commission already constructed and permitted mill for processing precious metals

·     High tungsten grades in scheelite-bearing skarn identified at the Pine Crow/Defender Tungsten prospects with lab results from detailed summer soil sampling programme expected shortly

·      Seeking joint venture partners to accelerate development of copper projects

Brian Hall, Executive Chairman, commented:

"We are pleased with the strong progress across our portfolio during the course of this year, with copper, gold, silver and tungsten projects all moving forward in line with our strategy. Drilling operations due to start in the next few weeks will mark important steps in unlocking the scale and potential of our assets, whilst our tungsten prospects highlights the growing relevance of our work in the global critical minerals supply chain. There is strong U.S. demand for a secure domestic supply of critical minerals and I am confident in our ability to play a role in this chain.

We appreciate the continued support of our shareholders and, as we enter a period of heightened activity, we look forward to providing updates from across our portfolio."

For Further Information:

Chairman's Statement

The past year has been one of steady and disciplined progress for Great Western as we continue to advance our multi-commodity portfolio in Nevada, one of the world's premier mining jurisdictions. Against a backdrop of heightened geopolitical uncertainty and increasing pressure on global supply chains, our strategy, focused on copper, gold, silver and tungsten, is aligned with both U.S. domestic priorities and wider global market trends.

The importance of secure, domestic sources of critical minerals has never been more evident. The U.S. is building its first strategic minerals stockpile in decades and copper and silver are due to be formally added to the country's critical minerals list in 2025. This not only reshapes U.S. permitting and finance risk for companies such as ours but also underscores the growing recognition that industrial and precious metals and minerals are fundamental to clean energy and electrification, as well as to defence, technology and national resilience. Nevada, already ranked the second most attractive jurisdiction worldwide for mining investment, stands at the heart of this effort and Great Western is exceptionally well positioned with 100% owned assets across the prolific Walker Lane Belt.

Our flagship Huntoon Copper Project continues to demonstrate scale and potential. The M2 deposit, already hosting a JORC-compliant resource, sits at the edge of what we believe to be a large porphyry system that we are now beginning to unlock through systematic exploration. At West Huntoon, extensive sampling has confirmed widespread copper mineralisation accompanied by high-grade silver and gold, while recently staked ground at Yellow Peak has expanded our footprint and provided access to valuable historic drill data. Together, these prospects suggest that we are uncovering an extensive copper system in a district that has previously been underexplored. Next month we will commence drilling designed to validate surface anomalies at depth and advance our understanding of this emerging resource.

In parallel, we are progressing a pipeline of gold and silver projects focused on the Olympic Gold Project, which includes the historic OMCO mine. With a rich history of high-grade production, Olympic offers both extensions of known mineralisation and significant new potential in undrilled areas such as the Rhyolite Dome, where a geophysical survey this summer has identified a compelling target. A maiden drilling programme is due to start imminently, representing an important step towards defining a new source of gold in this prolific district.

Alongside exploration, our joint venture process mill, Western Milling LLP, is constructed and permitted, designed to treat historic mine waste from Olympic and other claims as well as third-party ore. To upscale the project and bring it on to production, an experienced engineering team has been identified to oversee operations and external funding efforts are in progress. 

Further upside lies in tungsten, a metal of increasing strategic significance to the U.S. Initial exploration across the Pine Crow and Defender workings has confirmed scheelite-bearing skarn with grades well above previous historic samples. Soil sampling has now been completed across a 1.2 kilometre corridor and results currently awaited should guide a programme of trenching, gravity surveys and drilling designed to assess continuity and grade at depth. With tungsten already prioritised by the U.S. Department of Defense for domestic supply, our early-stage work places us firmly on the radar of this fast-developing sector.

Our exploration strategy is both focused and pragmatic. We are expanding copper resources through systematic drilling, advancing gold and silver projects and fast-tracking tungsten exploration in line with strategic priorities. At the same time, we are actively evaluating joint venture and farm-out opportunities to advance projects while preserving shareholder value. This approach allows us to pursue multiple opportunities across our portfolio without over-extending resources, aiming to ensure that progress is both sustainable and value accretive.

Great Western benefits from a board that combines technical expertise with capital markets experience, supported by a dedicated operational team on the ground in Nevada. This balance of skills enables us to execute a technically robust exploration programme while maintaining the highest standards of governance and financial discipline.

After a share capital reorganisation, during the period the Company successfully completed a share placing to raise £1.25 million (before expenses), providing the resources to progress the exploration programmes outlined above. While we continue to manage our funds prudently, as an exploration company, we report a loss of £485,232 (30 June 2024: €443,005 and 31 December 2024: €1,741,056).

Looking ahead to the second half of 2025, Great Western is positioned at an exciting juncture, with near-term catalysts including drilling campaigns at Rhyolite Dome and West Huntoon, alongside continuing work on our tungsten prospects. Robust market fundamentals, coupled with the U.S.'s increasing focus on domestic supply security, underscore the strategic value of our commodity mix and strengthen our confidence in delivering meaningful value for shareholders.

On behalf of the Board, I would like to thank our investors for their continued support as we move into what promises to be a busy period for the Company.

Brian Hall

Executive Chairman

Unaudited Condensed Consolidated Income Statement

For the six months to 30 June 2025

All activities derived from continuing operations. All losses are attributable to the owners of the Company.

Unaudited Condensed Consolidated Statement of Other Comprehensive Income

For the six months to 30 June 2025

Unaudited Condensed Consolidated Statement of Financial Position

For the six months to 30 June 2025