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1 QUARTERLY REPORT FOR THE PERIOD ENDING 31 MARCH 2012 HIGHLIGHTS CENTRAL MURCHISON GOLD PROJECT (CMGP) 29% Increase in Mineral Resources at CMGP to 2.7 Million ounces of gold, group total of 3.9Moz equiv. 39% Increase in Mining Reserves at CMGP to 855,000 ounces of gold. Agreed on a conditional debt funding facility of up to A$80M with Credit Suisse. Definitive Feasibility Study ( DFS ) remains on track for completion by midyear. Acquired 100% ownership and access to Great Fingall Deeps finalised subsequent to quarter end. Exploration drilling continued to focus on identifying low cost near surface gold resources with 5,815m RC drilling completed during the quarter with results from South Victory, Yellow Taxi South and a new prospect at Fender South. More significant results received during the quarter were: South Victory Hole CDRC m at 8.54 g/t Au from 30m Hole CDRC0781 8m at 1.99 g/t Au from 33m Hole CDRC0784 2m at 5.93/t Au from 56m Fender South Hole BBRC0077 7m at 5.28 g/t Au from 48m Hole BBRC0085 3m at 2.6 g/t Au from 23m Yellow Taxi South Hole GCRC1463 4m at 2.54 g/t Au from 33m Hole GCRC1464 4m at 6.73 g/t Au from 39m Mining studies are currently being undertaken for Indicator, Lady Rosie and Fender. ROVER PROJECT Significant step towards advancing the development of Rover 1 with the submission of a mine management plan to NT regulators for approval Additional geophysics (IP) carried out to refine existing TEM targets for forthcoming drill program Initial ground reconnaissance carried out over Warumpi JV tenements CORPORATE Net cash (including cash backed bonds of $3.2M) and working capital of $9.5M at 31 March ENQUIRIES Scott Huffadine Andrew Beckwith Dudley White Managing Director Director Exploration MAGNUS t: t: t: e: admin@westgold.com.au e: admin@westgold.com.au e: dwhite@magnus.net.au 3.9M OZ PRIORITY 2 PROJECTS IDENTIFIED MINERAL RESOURCES EXPLORATION UPSIDE

2 DEVELOPMENT STRATEGY Westgold Resources Limited is focussed on the development of its two key projects: The Central Murchison Gold Project (WA) and The Rover 1 CopperGold Project (NT). Together these contain a total identified mineral resource inventory of 3.9 million ounces primarily of gold and minor gold equivalence from copper at Rover 1. Both projects hold significant underlying exploration potential enabling further additions to the resource base and/or the mine life of any future operations. Warumpi JV Au McArthur JV Pb, Zn, Cu Rover (AuCu) 1.2Moz AuEq CMGP(Au) 2.7Moz AuEq Figure 1: Westgold Project Locations 31 MARCH 2012 QUARTERLY REPORT [02]

3 CENTRAL MURCHISON GOLD PROJECT The Central Murchison Gold Project (CMGP) is made up of a number of historic underground mines, openpit mines and known resources within an approximate 30km radius and making up the gold production centres of Big Bell, Cuddingwarra and Day Dawn. Westgold is currently finalising a Definitive Feasibility Study ( DFS ) that uses a common, newly constructed and modern carbon in leach plant with a capacity of M tpa which will process a blended feedstock of highgrade underground ores, open pit ores and lowgrade historic tailings. Initial gold production will target 60,000 ounces per annum increasing to steady state production of 120,000 ounces per annum as the higher grade underground ores are introduced. An initial project term of 8 years is estimated, with significant scope to increase this by the continual upgrade of known resources into reserves and with new discoveries. The key attributes of the project are: A proven past gold production centre with historical production +5 million ounces of gold. 330 km 2 of contiguous predominantly granted mining tenements, with significant infrastructure already in place. A current total JORC resource aggregating more than 2.7 million ounces of gold. An integrated production base centred around three underground gold mines and two open pit mining centres with initial probable mining reserves of 2.69g/t Au containing 855,000 ounces of gold. PROJECT DEVELOPMENT Definitive Feasibility Study Westgold is working to complete the Definitive Feasibility Study ( DFS ) by the middle of CY During the period the Company advanced a number of elements including: Metallurgical test work is well underway and nearing completion with historic recoveries being confirmed to date, and improved recoveries of between 93% and 97% are being observed at a standard 75 micron grind for the Great Fingall area. Metallurgical process design criteria and flow sheets have been agreed upon for both hard rock and historic tails reclamation phases Detailed design and cost estimation for the process plant and surface infrastructure are underway Open pit design work completed with inclusion of material into Probable Mining Reserves Design work commenced by GHD on the Tailings Storage Facility which is optimising the use of the existing capacity within the current cells. Detailed design and cost estimates for the Big Bell, Great Fingall and Golden Crown underground mines Detailed geotechnical studies for both open pit and underground mining programs were respectively completed and well advanced Borefield groundwater license applications were submitted All required environmental studies completed and in final phases in preparation for submission of Works Approvals. 31 MARCH 2012 QUARTERLY REPORT [03]

4 Resource and Reserve Upgrade During the period the Company completed a detailed review (incorporating new drilling data) of the groups resource inventory. The revised Total Mineral Resource estimate for all sources, including low grade is 31.4 million tonnes at 2.67 g/t Au containing 2.7 million ounces of gold (refer to appendices for detail). Following this, mining studies estimated that openpittable Mining Reserves (Probable Category) for the project aggregated to 2,734,000 tonnes at 1.86 g/t Au containing 163,000oz of gold. This delivers on the stated milestone to develop 3 years of open pit reserves ahead of the development of the high grade underground mines in the ramp up to steadystate production. On a combined basis with the underground Mining Reserves of 3,773,000 tonnes at 5.1 g/t Au containing 614,000 oz of gold underwrites the initial 8 year production profile. These initial open pittable Mining Reserves are focused on the Day Dawn (Great Fingall) and Big Bell lines of lode, which have a combined past production in excess of 3.2Moz. Additionally, and following a review of the recent testwork and of the significant body of historical operating parameters, a Probable Reserve of 3,400, g/t for 72,000oz has also been estimated for the remaining historic tails located 500m from the proposed processing facility. Big Bell Trend The Big Bell trend pits are currently focused on the area south of the historic Big Bell pit that was mined to a depth of 210m and produced an estimated 15,100,000t at 1.85g/t for 900,000oz Au between It also includes the Shocker and 1600N pits immediately to the south of the proposed location of the processing facility for the CMGP (Figure 2). The northern portion of the Big Bell trend comprising some 2km of strike was integrated into a global resource model incorporating the Big Bell, Shocker and 1600N pit resources. The result has been an increase of 400Koz in both the Indicated and Inferred categories. Evaluation of the area further to the south incorporating the and Fender resources is ongoing and will be reviewed as a component of resource and Reserve updates. Figure 2: Existing Big Bell and Shocker / 1600 pits (solid) with cutback design strings 31 MARCH 2012 QUARTERLY REPORT [04]

5 Great Fingall The Great Fingall Open pit operation has produced an estimated 1,760,000t at 1.45g/t for 82,000oz historically with the bulk of production sourced from an array of quartz veins feathering off the steeper and highergrade Great Fingall Reef. The current cutback continues to mine these structures and will extend the pit depth a further 35m (Figure 3). In addition to the flat mineralisation there is still main reef material adjacent to historical stoping areas which will be mined. As part of the review of the current Great Fingall open pit model it was identified that diamond drilling data from the base of the current pit completed in 2006 had not been incorporated into the model and hence remnant Great Fingall Reef material which will be mined in the current design has not been included in the quoted reserve. These holes are tabulated below: Hole N E RL Dip/Azi Intercept GCDD / g/t Au from 40.6m GCDD / g/t Au from 42.0m GCDD / g/t Au from 0.0m 6.42 g/t Au from 10.0m GCDD / g/t Au from 13.5m GCDD / g/t Au from 15.0m The smaller South Fingall and Yellow Taxi open pits are planned to be mined in conjunction with the Great Fingall open pit. Together all three aggregate into a Mining Reserve (Probable) of 1.83 g/t Au containing 53,637 oz. Historically, the Great Fingall, Yellow Taxi, and Rubicon pits mined in this area have all returned positive reconciliations (up to 25% more ounces) compared with premining and operational grade control models. This is considered to be attributable to the distribution of the high grade gold within these orebodies. Figure 3: Existing Great Fingall pit (solid) with Great Fingall cutback design strings 31 MARCH 2012 QUARTERLY REPORT [05]

6 Historic Big Bell Tailings The historic Big Bells tailings resulting from ore processing between 1937 and 1955 from the first major phase of open pit and underground mining is estimated at 5.6Mt at a grade of 4.2 g/t with tail grades of around 0.7 g/t Au. During operations in the early 2000 s, approximately 1.4 million tonnes of this material was successfully reprocessed. As part of the DFS, GR Engineering Services Limited has confirmed that retreatment of these ores is economically feasible for the integrated CMGP. A Probable Mining Reserve of 3,400, g/t containing 72,000oz Au has been estimated. This will be evaluated as part of the broader DFS, as an option for bringing forward production by constructing the leach and adsorption process train in advance of the crushing and grinding circuits in preparation for runofmine ore from the open pits and underground mines. EXPLORATION Exploration activities continued to focus on defining additional nearsurface resources. A total of 5,518 metres of Reverse Circulation drilling was completed during the quarter and extensions of the Yellow Taxi, Victory and Fender ore systems were discovered. Highlight intercepts from this drilling were: Prospect Hole N E Dip/Azi Intercept South Victory Yellow Taxi Fender South CDRC0778 6,968, , / 260 4m at 1.85g/t Au from 19m CDRC0779 6,968, , / m at 8.54g/t Au from 30m CDRC0781 6,968, , / 269 8m at 1.99g/t Au from 33m CDRC0782 6,968, , / 269 2m at 1.18g/t Au from 41m CDRC0784 6,968, , / 269 2m at 5.93g/t Au from 56m CDRC0792 6,968, , / 269 4m at 1.28g/t Au from 43m GCRC1456 6,959, , / 91 11m at 1.23g/t Au from 120m GCRC1457 6,959, , / 91 4m at 1.45g/t Au from 67m GCRC1432 6,959, , / 126 2m at 2.06g/t Au from 26m GCRC1434 6,959, , / 126 2m at 2.93g/t Au from 26m GCRC1436 6,959, , / m at 1.08g/t Au from 20m GCRC1453 6,958, , / 127 6m at 1.55g/t Au from 30m GCRC1458 6,958, , / 127 4m at 1.08g/t Au from 18m GCRC1460 6,958, , / 127 2m at 3.2g/t Au from 35m GCRC1461 6,958, , / 127 2m at 2.97g/t Au from 42m GCRC1463 6,958, , / 127 4m at 2.54g/t Au from 33m GCRC1464 6,958, , / 127 4m at 6.73g/t Au from 39m GCRC1466 6,958, , / 127 3m at 2.13g/t Au from 46m BBRC0077 6,974, , / 302 7m at 5.28g/t Au from 48m BBRC0085 6,974, , / 302 1m at 5.82g/t Au from 23m All exploration drilling intercepts >1m and >1 g/t Au received during the quarter are tabulated in Appendix MARCH 2012 QUARTERLY REPORT [06]

7 For personal use only Figure 4: Locality Plan for CMGP 31 MARCH 2012 QUARTERLY REPORT [07]

8 ROVER PROJECT The Rover Project consists of 1,172 square kilometres of contiguous granted tenements over stratigraphy considered to be an undercover repetition of the rich Tennant Creek goldfield 80 km to the northeast. Westgold has so far fully tested three blind targets within the project, each of which has defined significant mineralised systems at the Rover 1, Explorer 108 and Explorer 142 prospects. The key focus has been Rover 1 where Westgold has a developmentready project. The key elements to the future success of the project are: New gold province analog to historic Tennant Creek Gold field +5.5M ounces Gold and 0.5Mt Copper Three successful discoveries in Rover 1 (AuCu), Explorer 108 (PbZnAg) and Explorer 142 (CuAu) 1.22Moz gold equivalent total identified mineral resource (JORC) at Rover 1 Explorer Kt PbZn, 5.6M oz Ag and 71Koz Au total identified mineral resource A commercially positive outcome from Rover 1 development studies. The project areas is proximal to a major infrastructure corridor adjacent to the Central Australian Railway, gas pipeline and Stuart Hwy Exploration upside in multiple coincident magnetic and gravity anomalies considered to be lookalikes to the Rover 1 anomaly ROVER 1 (WESTGOLD 100%) During the period all necessary studies to enable the submission of the mine management plan (MMP) to the Northern Territory regulators for the development of the exploration decline were completed. 31 MARCH 2012 QUARTERLY REPORT [08]

9 The Company formally submitted the MMP for the Rover 1 decline to the Northern Territory Department of Resources for approval immediately following the end of the quarter. The submission represents a major step in advancing the underground development of the Rover 1 Gold and Copper deposit and the approvals process is expected to be completed by the end of June The primary aim of the decline is to provide an efficient drill platform which will allow for the following: 1. Conversion of the current resources to reserves between 300 to 600 vertical metres. 2. Detailed definition of the proposed mining blocks. 3. Identification of shallower resources/reserves above 300 vertical metres. 4. Infill drilling of the existing resource below 600 vertical metres. 5. Resource extensions along strike and at depth. ROVER EXPLORATION Exploration activities within the greater Rover and Tennant Creek Projects have centred on processing and assessing the extensive HeliTEM survey data completed during 2011 and the recent trial evaluation of deep penetrating IP (Induced Polarisation) to define potential sulphide rich drill targets. The high powered HeliTEM system and the use of IP are the same geophysical systems successfully used in the recent sulphide rich discoveries of Goanna and Monitor by Emmerson Resources in nearby Tennant Creek. Importantly these two new AuCu discoveries away from the more typical magnetite rich ironstone bodies usually associated with mines in the Tennant Creek region. Westgold s evaluation of the HeliTEM data reveals a large number of priority EM conductors or conductive corridors throughout the various survey areas, of which some are interpreted to be directly associated with known sulphide rich mineralisation. In order to better refine the EM anomalies for direct drilling targets, 25.6 line kilometres of deep penetrating IP has been undertaken initially over the known AuCu systems of Rover 1 and Explorer 142 and also at the PbZn mineralisation at Explorer 108 together with a selected number of other untested EM targets in the region. Further infill IP lines are currently underway and additional lines are expected to be planned as the new data is progressively evaluated in preparation for upcoming drill testing. 31 MARCH 2012 QUARTERLY REPORT [09]

10 OTHER EXPLORATION WARUMPI JV (WESTGOLD EARNING UP TO 80%) The Warumpi project is a newly recognised and highly deformed geological belt, is grossly under explored, and is considered to have excellent potential to host structurally controlled gold and copper, stratabound leadzinc and intrusive related nickelcopper mineralisation. The region has geological similarities in age and rock types to the Mount Isa, McArthur Basin and Broken Hill regions which host many large world class base metal deposits and Westgold considers there is potential for Tropicana style gold deposits. During the quarter, Westgold completed a geological inspection and first ever reconnaissance sampling within the granted tenements EL6732, EL6861 and EL The field inspection included an assessment of the regolith and potential sampling media throughout the tenement areas. In a total of 39 rock chip samples from the limited outcrops and 38 LAG samples (residual fine rock fragments, refer to photo) were collected during the field activities and submitted to the laboratory for multielement analysis. Partial results have been received with additional indicator elements remain pending. The most encouraging results received to date include elevated nickel assays from rock chips in the south central portion of EL Results to date include: 0.19%Ni, 0.18%Ni and 0.84%Ni. The context and overall significance of these results requires a full evaluation once all assays are received. A programme of systematic regional LAG and followup rock chip sampling is currently being designed and is expected to commence during the coming quarter. 31 MARCH 2012 QUARTERLY REPORT [10]

11 ENDFor personal use only CORPORATE Westgold holds $9.5M cash (including $3.2M in cash backed environmental performance bonds) and working capital with no debt as of 31 March The total issued capital of Westgold comprised 414,178,651 fully paid ordinary shares, 29,700,000 unlisted options and 3,050,000 performance rights at 31 March DEBT FUNDING During the period the Board of Westgold Resources Limited advised that it had reached a conditional agreement with Credit Suisse AG ( Credit Suisse) to act exclusively as lead arranger for a projectsecured loan facility of up to A$80M and an associated hedging facility to assist with the development of the Central Murchison Gold Project ( CMGP ). Availability of the funding will be subject to normal commercial banking conditions and is subject to completion of satisfactory documentation, satisfactory outcomes of the Definitive Feasibility Study and fulfilment or waiver of other typical conditions precedent. INVESTMENTS During the period Westgold disposed of its remaining holding in Rum Jungle Resources (ASX:RUM). 31 MARCH 2012 QUARTERLY REPORT [11]

12 CENTRAL MURCHISON GOLD PROJECT RESOURCE AND RESERVE CMGP MINING RESERVES Probable Total Ore Body Tonnes Grade Ounces Tonnes Grade Ounces Underground Big Bell 2,895, ,000 2,895, ,000 Great Fingall^/Golden Crown 878, , , ,000 Subtotal 3,772, ,000 3,772, ,000 Open Pits 1600N/Shocker 806, , , ,000 Big Bell South 1,017, ,000 1,017, ,000 Great Fingall Open Pit 750, , , ,000 South Fingall 40, ,000 40, ,000 Yellow Taxi Group 122, , , ,000 Subtotal 2,735, ,000 2,735, ,000 Stockpiles Big Bell Tails 3,400, ,000 3,400, ,000 Subtotal 3,400, ,000 3,400, ,000 Total 9,907, ,000 9,907, ,000 ^ Assumes 100% owned by Westgold on completion of the acquisition of the 49% relevant interest in Great Fingall Deeps from the Great Fingall Mining Company NL Competent Persons Statement The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Jake Russell B.Sc. (Hons), who is a Member of the Australian Institute of Geoscientists. Mr Russell is a fulltime employee of the company. Mr Russell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Russell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to Ore Reserves is based on information compiled under the direction of Mr. Paul Hucker B. Eng (Hons), who is a Member of the AusIMM. Mr Hucker is a fulltime employee of the company. Mr Hucker has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hucker consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

13 Measured Indicated Inferred Total Resource Mining Centre/Deposit Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Big Bell 1600N / Shocker 2,870, ,000 3,503, ,000 6,373, , N / Shocker Deeps 544, , , , / , , , , , ,000 Big Bell 5,153, ,000 7, ,000 5,160, ,000 Big Bell South 1,145, ,000 3,792, ,000 4,937, ,000 Big Bell South Deeps 1,015, ,000 1,015, ,000 Fender 71, ,000 71, ,000 Cuddingwarra Black Swan 222, ,000 1, , ,000 Black Swan South 315, ,000 1,816, ,000 2,131, ,000 Chieftain 50, ,000 75, , , ,000 City of Chester 416, ,000 81, , , ,000 City of Chester NW 197, ,000 13, , , ,000 City of Sydney 4, , ,000 66, ,000 Coventry North 204, , , ,000 Golden Gate 65, ,000 1, , ,000 Jim's Find 263, ,000 37, , , ,000 Rheingold 89, ,000 89, ,000 Rheingold South 23, ,000 82, ,000 96, , , ,000 Day Dawn , ,000 9, , , ,000 Golden Crown 551, ,000 91, , , ,000 Great Fingall Open Pit 1,362, ,000 85, ,000 1,446, ,000 Great Fingall UG 1,034, , , ,000 1,305, ,000 Kinsella 1, , ,000 55, ,000 Mount Fingall 30, ,000 30, ,000 Rubicon 19, ,000 50, ,000 12, ,000 81, ,000 South Fingall 150, ,000 94, , , ,000 Try Again 1, , , , , , ,000 Yellow Taxi Group 233, ,000 88, , , ,000 Stockpiles Big Bell Stockpiles 116, , , ,000 Big Bell Tails 3,394, ,000 3,394, ,000 Cuddingwarra Stockpiles 70, ,000 70, ,000 Day Dawn Stockpiles 119, , , ,000 Fingall Sands 34, ,000 34, ,000 TOTAL 48, ,000 18,670, ,819,000 12,710, ,000 31,428, ,700,000 Rounding errors may occur

14 ROVER 1 RESOURCE TABLE 1: ROVER 1 TOTAL MINERAL RESOURCE ESTIMATE (USING 2.5 G/T AU CUTOFF) Classification Tonnes AuEq g/t* Au g/t Ag g/t Bi % Co % Cu % AuEq Oz* Indicated 2,740, ,696 Inferred 4,073, ,404 Total 6,814, ,220,274 TABLE 2A: ROVER 1 HIGH GRADE GOLD ZONES (USING 2.5 G/T AU CUTOFF) Classification Tonnes AuEq g/t^ Au g/t Cu % AuEq Oz^ Indicated 607, ,689 Inferred 717, ,729 Total 1,324, ,470 TABLE 2B: ROVER 1 HIGH GRADE COPPER ZONES (USING 1% CU CUTOFF) Classification Tonnes AuEq g/t^ Cu % Au g/t AuEq Oz^ Indicated 1,622, ,543 Inferred 1,862, ,632 Total 3,564, ,781 Competent Persons Statements Rover 1 The information in this report that relates to exploration, mineral resources or ore reserves is based on information compiled by Mr Andrew Beckwith (B.AppSc.) who is a full time employee of Westgold Resources Limited, is a member of the AusIMM. Mr Beckwith has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as described by the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Beckwith consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Gold Equivalence The Gold Equivalence calculation represents total metal value for each metal assuming 100% recovery, summed and expressed in equivalent gold grade or ounces. The prices used in the calculation being US$1100/oz Au, US$7000/t Cu, US$21.0/lb Co, US$7.5/lb Bi and US$15.0/oz Ag and approximate metal prices as at 18 Feb The Gold Equivalent formula is: AuEq = Au *Ag *Bi *Co *Cu. Exploration and Production Target Statements The information in this report that relates to exploration targets refers to targets that are conceptual in nature, where there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Production targets and mine designs are currently conceptual in nature and relate to the Scoping Study completed in October Advanced feasibility studies are currently underway to advance the economic evaluations at Rover 1.

15 APPENDIX 1 The following table lists all significant intersections (>1g/t) received from drilling programs during the quarter: Prospect Hole N E Dip/Azi Intercept Fender South Great Fingall Kalahari Kinsella Rubicon East South Victory BBRC0077 6,974, , / 302 7m at 5.28g/t Au from 48m BBRC0085 6,974, , / 302 1m at 5.82g/t Au from 23m 3m at 2.6g/t Au from 34m GCRC1427 6,962, , / 37 10m at 1.25g/t Au from 37m 1m at 1.72g/t Au from 21m GCRC1471 6,960, , / m at 1.19g/t Au from 23m GCRC1475 6,959, , / 91 1m at 1.03g/t Au from 34m 1m at 1.09g/t Au from 38m 3m at 2.42g/t Au from 27m GCRC1476 6,959, , / 91 1m at 1.38g/t Au from 65m GCRC1418 6,960, , / 290 4m at 1.11g/t Au from 60m GCRC1419 6,960, , / 0 19m at 1.36g/t Au from 2m 1m at 1.32g/t Au from 36m 1m at 1.34g/t Au from 24m 3m at 1.17g/t Au from 28m GCRC1420 6,960, , / 0 19m at 1.45g/t Au from 10m GCRC1421 6,960, , / 290 1m at 1.57g/t Au from 69m GCRC1424 6,960, , / 290 3m at 1.05g/t Au from 35m GCRC1426 6,960, , / 0 18m at 1.24g/t Au from 14m GCRC1411A 6,964, , / 50 1m at 1.66g/t Au from 34m GCRC1413 6,964, , / 50 3m at 1.97g/t Au from 39m GCRC1416 6,964, , / 80 3m at 1.45g/t Au from 20m CDRC0778 6,968, , / 260 4m at 1.85g/t Au from 19m CDRC0779 6,968, , / m at 8.54g/t Au from 30m CDRC0781 6,968, , / 269 8m at 1.99g/t Au from 33m CDRC0782 6,968, , / 269 2m at 1.18g/t Au from 41m CDRC0784 6,968, , / 269 2m at 5.93g/t Au from 56m CDRC0792 6,968, , / 269 4m at 1.28g/t Au from 43m Try Again GCRC1442 6,960, , / 91 4m at 2.37g/t Au from 23m

16 Prospect Hole N E Dip/Azi Intercept Yellow Taxi Group GCRC1456 6,959, , / 91 11m at 1.23g/t Au from 120m 4m at 1.6g/t Au from 80m GCRC1457 6,959, , / 91 4m at 1.45g/t Au from 67m GCRC1432 6,959, , / 126 2m at 2.06g/t Au from 26m GCRC1434 6,959, , / 126 2m at 1.02g/t Au from 1m 2m at 2.93g/t Au from 26m GCRC1435 6,959, , / 126 1m at 1.1g/t Au from 5m 1m at 1.51g/t Au from 22m 1m at 2.11g/t Au from 42m GCRC1436 6,959, , / m at 1.08g/t Au from 20m GCRC1438 6,959, , / 126 1m at 1.01g/t Au from 3m GCRC1439 6,959, , / 126 1m at 1.9g/t Au from 9m GCRC1447 6,958, , / 127 1m at 1.72g/t Au from 40m GCRC1449 6,958, , / 127 1m at 1.04g/t Au from 24m GCRC1452 6,958, , / 127 2m at 1.73g/t Au from 31m GCRC1453 6,958, , / 127 6m at 1.55g/t Au from 30m GCRC1458 6,958, , / 127 4m at 1.08g/t Au from 18m GCRC1459 6,958, , / 127 2m at 1.45g/t Au from 28m GCRC1460 6,958, , / 127 2m at 3.2g/t Au from 35m GCRC1461 6,958, , / 127 2m at 2.97g/t Au from 42m GCRC1463 6,958, , / 127 4m at 2.54g/t Au from 33m GCRC1464 6,958, , / 127 4m at 6.73g/t Au from 39m GCRC1465 6,958, , / 127 4m at 1.06g/t Au from 56m 4m at 1.13g/t Au from 41m GCRC1466 6,958, , / 127 3m at 2.13g/t Au from 46m Intercept Notes Assays based on a nominal 1 metre sample of RC chips. Analysis of gold by 50g Fire Assay All intersections are reported using uncut upper assays.

17 Appendix 5B Mining exploration entity quarterly report Appendix 5B Rule 5.3 Mining exploration entity quarterly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10 Name of entity WESTGOLD RESOURCES LIMITED ABN Quarter ended ( current quarter ) March 2012 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $A 000 Year to date (9. months) $A Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration (2,126) (586) (480) (7,546) (1,188) (1,718) 1.3 Dividends received 1.4 Interest and other items of a similar nature received Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) 1 10 Net Operating Cash Flows (2,861) (9,917) Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets (9) 2,785 (115) 5, Loans to other entities 1.11 Loans repaid by other entities 1.12 Other performance bonds payments (111) Net investing cash flows 2,776 4, Total operating and investing cash flows (carried forward) (85) (4,971) + See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 1

18 Appendix 5B Mining exploration entity quarterly report 1.13 Total operating and investing cash flows (brought forward) (85) (4,971) Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows Net increase (decrease) in cash held (85) (4,971) 1.20 Cash at beginning of quarter/year to date 6,369 11, Exchange rate adjustments to item Cash at end of quarter 6,284 6,284 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A' Aggregate amount of payments to the parties included in item Aggregate amount of loans to the parties included in item Explanation necessary for an understanding of the transactions Payments to Directors 198 Noncash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows N/A 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest N/A + See chapter 19 for defined terms. Appendix 5B Page 2 17/12/2010

19 Appendix 5B Mining exploration entity quarterly report Financing facilities available Add notes as necessary for an understanding of the position. 3.1 Loan facilities Amount available $A 000 Amount used $A Credit standby arrangements Estimated cash outflows for next quarter 4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration $A 000 1,231 1, Total 2,957 Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. Current quarter $A 000 Previous quarter $A Cash on hand and at bank 2,284 1, Deposits at call 4,000 4, Bank overdraft 5.4 Other (provide details) Total: cash at end of quarter (item 1.22) 6,284 6,369 Changes in interests in mining tenements 6.1 Interests in mining tenements relinquished, reduced or lapsed Tenement reference Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.2 Interests in mining tenements acquired or increased + See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 3

20 Appendix 5B Mining exploration entity quarterly report Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. 7.1 Preference + securities (description) Total number Number quoted Issue price per security (see note 3) (cents) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buybacks, redemptions Ordinary securities 414,178, ,178,651 Nil Amount paid up per security (see note 3) (cents) 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buybacks Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options (description and conversion factor) Performance Rights 7.8 Issued during quarter 7.9 Exercised during quarter Nil 250, ,000 2,500, , ,000 1,000,000 1,025,000 17,500,000 1,875,000 3,000,000 1,000,000 2,750, ,000 Exercise price 45 cents 48 cents 21 cents 21 cents 22 cents 20 cents 32 cents 20 cents 29 cents 29 cents 23 cents Nil subject to vesting criteria Expiry date 08/11/ /03/ /11/ /11/ /08/ /01/ /01/ /12/2013 4/07/ /08/2014 1/11/ /08/2014 1/11/ See chapter 19 for defined terms. Appendix 5B Page 4 17/12/2010

21 Appendix 5B Mining exploration entity quarterly report 7.10 Expired during quarter 7.11 Debentures (totals only) 7.12 Unsecured notes (totals only) 625, cents 22/01/2012 Nil Nil Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5). 2 This statement does give a true and fair view of the matters disclosed. Sign here: Date: 27 April 2012 Company secretary Print name: Andrew Chapman Notes 1 The quarterly report provides a basis for informing the market how the entity s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The Nature of interest (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. == == == == == + See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 5