Unhedged gold producer West African Resources Limited ('West African' or the 'Company', ASX: WAF) is pleased to announce it has completed a US$25 million voluntary early repayment of its finance facility (the Debt Facility) with Taurus Funds Management Pty Ltd (Taurus).

The repayment to Taurus was foreshadowed in the Company's September 2020 Quarterly Report and reduces Debt Facility principal from US$200 to US$175 million.

The early repayment was made without any penalties and will provide WAF with substantial future cost savings in relation to budgeted interest on the Debt Facility.

WAF to focus on accelerating the repayment of the Debt Facility throughout 2021.

West African Executive Chairman Richard Hyde commented: 'Sanbrado continues to generate strong cash flows and we are very pleased to be reducing the cost of debt by making this early repayment to Taurus.'

This announcement is authorised for release by Mr Richard Hyde, Executive Chairman and CEO.

Contact:

Richard Hyde

Tel: 08 9481 7344

Email: info@westafricanresources.com

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