West Wits Mining Limited has addressed market queries regarding the recent fluctuation in its securities’ trading. Over the past few days, the securities experienced a price movement from a low of 2.1 cents to a high of 3.0 cents. In addition, there was a significant increase in the trading volume from 19 May to 22 May 2025, prompting the company to provide detailed insight into these developments. The company attributed the recent trading activity to several factors. First, it highlighted two major announcements: one confirming a credit‐approved term sheet for a senior debt syndicated loan facility of up to ZAR 902.5 million (approximately USD 50 million) released on 20 February 2025, and another quarterly activities report from 24 April 2025. The latter outlined positive progress on securing funding to commence operations at the Qala Shallows gold project, including advanced negotiations with a large overseas fund which may take a cornerstone position in the overall funding structure. Second, the surge in gold prices played a significant role, with prices consistently above USD 3,000 per ounce since mid‐March 2025, reaching a high near USD 3,500 per ounce and currently standing around USD 3,300 per ounce. Third, external commentary, notably from an annual Emerging Precious Metals Book by the Canaccord Genuity Australian Mining Team and subsequent media coverage, has also drawn investor attention. The company confirmed that there is no undisclosed information influencing these market movements and affirmed full compliance with applicable continuous disclosure and listing regulations. The responses provided have been authorized and approved by the Chairman, Michael Quinert, reinforcing West Wits Mining Limited’s commitment to transparency and regulatory adherence. Additionally, the firm outlined the processes in place should further action, such as a trading halt, be necessary under strict guidelines. The news has both bullish and bearish aspects. On the bullish side, strategic developments such as the secured credit facility and funding progress for the Qala Shallows gold project, coupled with robust gold price performance, reinforce optimism about future operational growth and capital inflow. On the bearish side, the rapid price movement and unusual trading volume raise concerns about market volatility, and investors may remain cautious until further concrete updates on project finances and broader market conditions are provided.