West Point Gold Closes the Acquisition of the Baxter Spring Project in Nevada
West Point Gold Closes the Acquisition of the
Baxter Spring Project in Nevada
Vancouver, British Columbia--(Newsfile Corp. - October 3, 2025) - West Point Gold Corp. (TSXV: WPG)
(OTCQB: WPGCF) (FSE: LRA0)
("West Point Gold" or the "Company") is pleased to announce it has
completed the acquisition of a 100% interest in the Baxter Spring Project, via the acquisition of Baxter
Gold Corp. ("Baxter"), a private Canadian corporation, and its US subsidiary, pursuant to a share
purchase agreement dated September 15, 2025 (the "Purchase Agreement"), as previously announced
in the Company's press release dated September 16, 2025.
The Baxter Spring Project is in the Manhattan Mining District, approximately 40 kilometres (km) south of
Kinross's Round Mountain Mine and West Point Gold's Jefferson Canyon project, in Nye County, Nevada
(Figure 1). The Project has seen significant historical work, including 128 drill holes, consisting of
approximately 11,000 metres (m) of reverse circulation (RC) drilling and 1,850 m of core drilling, along
with surface geochemical and geophysical surveys.
Historical drilling on the project is highlighted by:
24.4 m at 2.49 g/t Au (BS-22, Homestake Mining, 1982)
12.2 m at 60.3 g/t Au including 3.0 m @ 240 g/t Au (BS-8, Homestake Mining, 1982)
27.4 m at 1.46 g/t Au (BX-1, Naneco, 1988)
7.6 m at 8.81 g/t Au (BX-13, Naneco, 1988)
69.0 m at 0.71 g/t Au (BCS-1, Homestake Mining, 1984)
Pursuant to the Purchase Agreement, West Point Gold has issued 13,500,000 common shares of the
Company valued at $0.435 per common share to the shareholders of Baxter.
The common shares issued to the shareholders of Baxter are subject to a statutory hold period until
February 3, 2026. Further contractual hold periods have been agreed to with the shareholders of Baxter,
resulting in no shares being freely tradable after the statutory hold period has elapsed. These contractual
hold periods are: 25% (3,375,000 shares) on April 2, 2026; 25% (3,375,000 shares) on October 2,
2026; 25% (3,375,000 shares) on April 2, 2027; and 25% (3,375,000 shares) on October 2, 2027.
The acquisition remains subject to the final approval of the TSX Venture Exchange.
Figure 1: Property Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/268969_63b2aae3e4c7fb52_002full.jpg
The data presented in this release for the Baxter Spring Project was sourced from a private report
prepared for Baxter by Avrom Howard, MSc, PGeo, dated November 30, 2023.
Additional data was
received from Pilot Gold (USA).
Qualified Person
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company's Vice President of Exploration, is a
qualified person ("QP") as defined by NI 43-101 and has reviewed and approved the technical content of
this press release.
The QP has not completed sufficient work to verify the historical information on the
Baxter Spring property, particularly in regard to historical drill results. However, the QP believes that prior
drilling and analytical results were completed to industry standard practices at the time they were
completed.
About West Point Gold Corp.
West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold
discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona,
USA.
West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona,
while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.
For further information regarding this press release, please contact:
Aaron Paterson, Corporate Communications Manager
Phone: +1 (778) 358-6173
Email:
Stay Connected with Us:
LinkedIn:
linkedin.com/company/west-point-gold
X (Twitter):
@westpointgoldUS
Facebook:
www.facebook.com/Westpointgold/
Website:
www.westpointgold.com
FORWARD-LOOKING STATEMENTS:
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. Forward-looking statements include estimates
and statements that describe the Company's future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or result to occur. The use of any of
the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions
and statements relating to matters that are not historical facts are intended to identify forward-looking
information and are based on the Company's current belief or assumptions as to the outcome and timing
of such future events including, among others, assumptions about future prices of gold, silver, and other
metal prices, currency exchange rates and interest rates, favourable operating conditions, political
stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses
and permits and obtaining required licenses and permits, labour stability, stability in market conditions,
availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company
cautions that all forward-looking statements are inherently uncertain, and that actual performance may be
affected by a number of material factors, many of which are beyond the Company's control. Such factors
include, among other things: risks and uncertainties relating to West Point Gold's ability to complete any
payments or expenditures required under the Company's various option agreements for its projects; and
other risks and uncertainties relating to the actual results of current exploration activities, the
uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to
production, costs and expenses; risks relating to grade and continuity of mineral deposits; the
uncertainties involved in interpreting drill results and other exploration data;
the potential for delays in
exploration or development activities; uncertainty related to the geology, grade and continuity of mineral
deposits; the possibility that future exploration, development or mining results may vary from those
expected; statements about expected results of operations, royalties, cash flows, financial position may
not be consistent with the Company's expectations due to accidents, equipment breakdowns, title and
permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations,
fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and
costs of financing needed in the future and regulatory restrictions, including environmental regulatory
restrictions. The possibility that future exploration, development or mining results will not be consistent
with adjacent properties and the Company's expectations; operational risks and hazards inherent with
the business of mining (including environmental accidents and hazards, industrial accidents, equipment
breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe
weather); metal price fluctuations; environmental and regulatory requirements; availability of permits,
failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study
which recommends a production decision; the preliminary nature of metallurgical test results; fluctuating
gold prices; possibility of equipment breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, political risks, market or business conditions, regulatory
changes, timeliness of government or regulatory approvals and other risks involved in the mineral
exploration and development industry, and those risks set out in the filings on SEDAR+ made by the
Company with securities regulators. Although the Company believes that the assumptions and factors
used in preparing the forward-looking information in this corporate press release are reasonable, undue
reliance should not be placed on such information, which only applies as of the date of this news release,
and no assurance can be given that such events will occur in the disclosed time frames or at all. The
Company expressly disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise, other than as required by
applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/268969