Western Gold Closes Second And Final Tranche Of Private Placement And Commences Drilling Programme

(MENAFN- Newsfile Corp) North Berwick, Scotland--(Newsfile Corp. - May 23, 2025) - WESTERN GOLD EXPLORATION LTD. (TSXV: WGLD) (the " Company ") is pleased to announce it has closed the second and final tranche (" Tranche 2 ") of its previously announced non-brokered private placement (the " Private Placement ").

The Company issued 5,357,142 equity units (each a " Unit ") at a price of CAD$0.07 per Unit for gross proceeds of CAD$375,000 under Tranche 2, bringing the total Private Placement to 17,500,712 Units for aggregate gross proceeds of CAD$1,225,050. For further information about the Private Placement and the earlier closing, please refer to the Company's press release of May 21, 2025.

Each Unit is comprised of one (1) common share of the Company and one-half of one (1/2) common share purchase warrant of the Company (a " Warrant "). Each whole Warrant entitles the holder to acquire one (1) common share of the Company for a period of 18 months from the date of issuance of the Warrant, at an exercise price of CAD$0.10 per share.

The securities issued in connection with Tranche 2 are subject to a four-month hold period, in accordance with applicable securities laws.

The Company intends to use the proceeds from the Private Placement towards exploration drilling programs and related work on its mineral exploration properties and for general and administrative expenses. The Company has commenced drilling at the Ardlochan copper gold porphyry project that lies 8km to the west of the Company's flagship Lagalochan copper gold porphyry project in Scotland. This campaign of 750-1,000m of drilling will focus on the geophysical targets identified in the recent magneto-telluric geophysical survey and follow-up on the successful scout drilling campaign from 2023/24. Significant porphyry style mineralization was intersected in each of the three initial Ardlochan holes and the central portion of the system, indicated by the geophysics, remains to be tested.

About Western Gold Exploration

The Company is a mineral exploration company that is listed on the TSX Venture Exchange under the symbol "WGLD". The Company is focused on the exploration for gold and critical metal deposits in Scotland across the underexplored Caledonian Appalachian terrane. The Company's principal focus is its Lorne Project, which includes the Lagalochan copper gold porphyry property located in Argyll, Scotland (the " Lagalochan Property "), and the adjacent and nearby properties along the Lorne Fault Zone including Ardlochan.

On 29 November 2022, the Company filed a National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant, independent Technical Report (the " Technical Report ") on the Lagalochan Property. The Technical Report and additional information about the Company are available on SEDAR+ at under the Company's profile and on the Company's website: .

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