PRESS RELEASE: Development work is advancing well and importantly remains on schedule and on budget, with the crusher and jig and mill on track for construction completion in the December 2018 quarter and completion of the concentrator in the March 2019 quarter.

Concrete and civil works are now complete for the crusher, and Metso Minerals Portugal and steelwork contractor Disteca have commenced structural steel delivery at the La Parrilla site. Metso crusher equipment has been fabricated in its plant in Mâcon, France and will be progressively delivered to site as steelwork is erected on a just in time basis.

allmineral Aufbereitungstechnik was awarded the contract of the jig and mill and the concentrator, and has confirmed that fabrication of the primary equipment is advancing well and on schedule. The earthworks are nearing completion for the jig and mill and work on the foundations will be completed mid- to late-July with construction of the jig and mill on schedule for the December 2018 quarter.

The engineering work for the installation of the concentrator is now complete and 3-D steelworks engineering is underway, with the civil works and concrete foundations on schedule to be completed in the September 2018 quarter and construction on track for completion in the March 2019 quarter.

In parallel, progress on all other critical work is advancing on schedule with the dedicated team in Spain working towards the commencement of production from what will be a world-class tungsten and tin project in the March 2019 quarter.

Michael Masterman, chairman of W Resources, commented: "With La Parrilla project finance in place and the engineering and procurement preparation at an advanced stage, on site construction is underway and we expect to complete construction of both the crusher and the jig and mill in the December quarter. We are in the strongest financial position we have ever been in with €17 million [US$19.7 million] cash at bank and tracking strongly to revenue and profits in 2019."