WESTERN EXPLORATION OUTLINES PROPOSED 2024 EXPLORATION PROGRAM AT GRAVEL CREEK High-grade Au-Ag veins in the Jarbidge rhyolite NE of the Current Gravel Creek Deposit are targeted for Resource Expansion Drilling
WESTERN EXPLORATION OUTLINES PROPOSED 2024 EXPLORATION
PROGRAM AT GRAVEL CREEK
High-grade Au-Ag veins in the Jarbidge rhyolite NE of the Current Gravel Creek
Deposit are targeted for Resource Expansion Drilling
Vancouver, British Columbia – May 9, 2024 – Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) (the
"Company" or " Western Exploration") is pleased to announce details for our proposed 2024 resource
expansion drilling, targeting the Jarbidge rhyolite east of the Gravel Creek resource area at the Company's
wholly-owned Aura gold-silver project (the "Aura Project").
Focus for 2024 Drill Program
• Assay results in combination with oriented core structural studies from 2023 drilling identified a
significant North-South tr ending/moderately west dipping zone with multiple high -grade Au-Ag
bearing quartz-pyrite-marcasite vein, stockwork and hydrothermal breccias , located 140 meters to
250 meters east/north-east of the Gravel Creek resource area (see Figure 1 below).
• Multiple +20.0 g/t AuEq intercepts in two parallel vein zones and associated splay structures
have been traced along a dip length of over 200 meters, with drill widths ranging from 0.3 to
4.6 meters and grades up to 257.0 g/t Au and 1,655.0 g/t Ag.
• Major Drilling Group International Inc. ("Major Drilling") has been contracted to supply two drills to
complete a 4,000-meter oriented core drill program. Drilling will focus on bracketing the 2023
discovery section with 80-meter step out fence drilling on strike to the north and south, as well as 80
meters up dip. Site preparations will commence in mid -June with drilling commencing shortly
thereafter.
• With confirmation of grade and structural trends, the Company anticipates that drilling can be
expanded to link with other +5.0 g/t AuEq legacy drill intercepts within the Jarbidge rhyolite, located
in an open-ended area of 550 meters by 350 meters in dimensions , covering a 615-m vertical range
immediately east-northeast of the of the current Gravel Creek resource.
Significance of Results for Resource Expansion Potential
Western Exploration CEO, Darcy Marud, commented: "The structural interpretation based on 2023 oriented
core results has provided a breakthrough that identifies significantly expanded resource potential in the
Jarbidge rhyolite to the east/north -east of the current Gravel Creek resource area. The 2024 core drilling
program will focus on extending vein zones intersected on the " Discovery Section" with 80-meter step out
holes, with the goal of expanding the Gravel Creek resource base . Longer term, the Company anticipates
completing additional drilling to identify a link with multiple legacy intercepts in the high-grade Au-Ag vein
zones in the Jarbidge rhyolite, which could significantly expand the Gravel Creek resource base."
Structural trends Provide Focus for 2024 Oriented Core Drilling
Analysis and interpretation of oriented core data collected in 2023 by Oriented Targeting Solutions identified
a complex array of intersecting veins, stockwork and hydrothermal breccias following steep to shallow north-
2
west to north -east trends that mimic the known structural controls on mineralization. The strongest
correlation between 2023 holes WG456 and W G457 link ed mineralized structures to a north /north-west
trending corridor, with moderate dips west /south-west towards the main GC Fault zone . Multiple legacy
intercepts along two sub-parallel veins zones show grades of over 20.0 g/t AuEq along a dip length of over 200
meters (Figure 1). The two main veins are defined by the following:
• Upper Vein (4 intercepts): 2.07-meter drill width at 28.05 g/t AuEq
• Lower Vein (4 intercepts): 3.13-meter drill width at 25.26 g/t AuEq
Initial drilling in 2024 will bracket the discovery section, 500N, Figure 2, with holes drilled along strike and up
dip on 80-meter step outs, Figure 3.
Future Exploration Targets in the Jarbidge Rhyolite
Future work will focus on extending resource expansion drilling NE of Gravel Creek in to an area of multiple
legacy intercepts measuring 550-meter by 350-meter in size, covering a 615-m vertical range. As an example,
the long section in Figure 4 shows that multiple high-grade Au-Ag intercepts are present in the rhyolite at the
current northeast limit of drilling, including 3.04m @ 53.50 g/t AuEq , 0.3m @ 60.05 g/t AuEq and 1.95m @
21.96 g/t AuEq (85:1 Ag: Au ratio). These present drill-ready priority exploration targets.
Figure 1. Cross section through drill holes WG456, WG457 and legacy holes showing continuity of +20.0 g/t
AuEq grades on a dip length of potentially +200 meters (AuEq calculated at 85:1 Ag: Ag and assays are
uncut).
3
Figure 2. Cross section 500N, showing Discovery Zone adjacent to the Gravel Creek resource outline.
4
Figure 3. Plan view of 1700-meter elevation, showing Gravel Creek resource zone, +5.0 g/t Au legacy
intercepts and location of cross sections for 2024 oriented core drilling.
5
Figure 4. Section shows multiple high-grade Au-Ag intercepts are present at the northeast extent of drilling in
Jarbidge rhyolite, including 3.04m @ 53.50 g/t AuEq, 0.3m @ 60.05 g/t AuEq and 1.95m @ 21.96 g/t AuEq
(AuEq calculated at 85:1 Ag: Ag and assays are uncut).
Correction to MI 43-101 Disclosure in News Release dated March 28, 2024
The Company wishes to clarify the participation of certain insiders of the Company in the private placement
offering of units of the Company (the "Units") that closed on March 28, 2024. In the news release of the
Company dated March 28, 2024, the number of Units reported to have been purchased by Mr. Gerard Munera
and Mr. Nicolas Schlumberger were switched. The correct participation of said insiders is as follows:
Insider Insider Relationship Units Purchased (#) Subscription Amount
($)
Agnico Eagle Mines
Limited
10% Securityholder 857,143 $600,000.10
Gerard Munera(1) Director of Western
Exploration
178,571 $124,999.70
6
Nicolas Schlumberger Director of Western
Exploration
71,429 $50,000.30
Note (1): Gerard Munera acquired the Units indirectly through Synergex Group LLC.
ABOUT THE AURA PROJECT
In addition to an established mineral resource estimate (as determined in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101")), the Aura Project has well
established infrastructure including year- round accessibility by highway and county -maintained road and
nearby access to water and electricity (see www.westernexploration.com) Western Exploration has
exploration, development, and mining rights on 930 hectares of privately owned fee lands through a mineral
lease agreement with a local landowner and may purchase those fee lands at any time for the development
of Doby George.
The 6,000-hectare Aura Project is unique in the junior mining space, as resources have been identified in three
different deposits (Doby George, Gravel Creek and Wood Gulch), as supported by the Technical Report (see
www.westernexploration.com).
The mineral resource estimate for the Aura project is disclosed in the Company's technical report, prepared
in accordance with the requirements of NI 43-101, entitled "2021 Updated Resource Estimates and Technical
Report for the Aura Gold-Silver Project, Elko County, Nevada" dated October 20, 2021 (with an effective date
of October 14, 2021) that was prepared for the Company by Mine Development Associates (the "Technical
Report").
About Western Exploration
Born from a 25-year history of advancing exploration projects in Nevada as a private company, today Western
Exploration is composed of an experienced team of precious metals experts that aims to lead Western
Exploration to becoming a premiere gold and silver development company in North America. The Company's
principal asset is the 100% owned Aura gold -silver project, located approximately 120 kilometers/75 miles
north of the city of Elko, Nevada, and includes three unique gold and silver deposits: Doby Geo rge, Gravel
Creek, and Wood Gulch. Additional information regarding Western Exploration and the Aura Project can be
found on the Company's website and on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.
For more information please contact:
Darcy Marud
Chief Executive Officer
Telephone: (775) 329-8119
Email: [email protected]
Nichole Cowles
Investor Relations
Telephone: 775-240-4172
Email: [email protected]
7
Qualified Person Approval
The scientific and technical content in this news release has been reviewed and approved by Mark
Hawksworth, General Manager of the Western Exploration's Aura Project, who is a "qualified person" within
the meaning of NI 43-101.
Quality Assurance – Quality Control
Drill program design, Quality Assurance/Quality Control (" QA/QC") and the interpretation of results is
performed by qualified persons employing a QA/QC program consistent with NI 43 -101 and industry best
practices.
Drill core samples were delivered by Major Drilling to Western Exploration's secure warehouse/logging facility
in Mountain City and washed, photographed and logged by company geologists . Sample intervals were
marked and recorded. Quality control (QC) samples were inserted at regular intervals in the sample stream
with all sample shipments, including blanks, core duplicates and reference materials , to monitor laboratory
performance.
Drill core samples were transported by Neilsen Exploration to ALS Chemex , located in Sparks, Nevada, for
sample preparation and analysis. Core was sawed at the ALS facility, with ½ prepared for assay and ½ core
preserved and returned to Western 's Mountain City facility. Samples were analyzed for gold using ALS
CHEMEX fire assay procedure Au-AA13, with over limits being analyzed by Au_GRA21. Samples were analyzed
for silver and a 40 element suite using ALS Chemex procedure ME -ICP41, with over limits being analyzed by
Ag_GRA21.
Oriented core data was collected following methodology established by Oriented Targeting Solutions.
Oriented Targeting Solutions compiled data in Access and completed the first pass interpretation utilizing
Leapfrog software.
Please see below under the heading "Cautionary Note Regarding Forward- Looking Information" for further
details regarding the risks facing Western Exploration.
For additional information on the Aura Project, please see the Technical Report, which has been prepared in
accordance with the requirements of NI 43-101, a copy of which is available on SEDAR + (www.sedarplus.ca)
under Western Exploration's issuer profile and on Western Exploration's corporate website
(www.westernexploration.com).
Cautionary Note Regarding Forward-Looking Information
This news release may contain "forward-looking information" and "forward-looking statements" within the
meaning of the applicable Canadian and United States securities legislation (collectively, "forward-looking
statements"). These forward-looking statements, by their nature, require the Company to make certain
assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in such forward-looking statements. Any statement that involves
predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events
or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected",
"interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled",
"forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and
phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken
8
to o ccur or be achieved) are not statements of historical fact and may be forward-looking information and are
intended to identify forward-looking information. This news release contains the forward-looking information
pertaining to, among other things: the significance of the results of the 2023 drill program; the accuracy of
results from prior exploration activities conducted at the Aura Project; the key assumptions, parameters and
methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any,
of the Doby George, Wood Gulch and Gravel Creek mineral deposits; the potential to greatly expand resources
within the Gravel Creek mineralized system ; future drilling at the Aura Project; the significance of historic
exploration activities and results; the ability to expand the existing mineral resources at the Aura Project. Such
factors include, among others, risks relating to the ability of exploration activities (including drill results) to
accurately predict mineralization; errors in management's geological modelling; the ability of Western
Exploration to complete further exploration activities, including drilling; property and royalty interests in
respect of the Aura Project; the ability of the Company to obtain required approvals; the results of exploration
activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental
risks; and community and n on -governmental actions. Although the forward-looking information contained in
this news release is based upon what management believes, or believed at the time, to be reasonable
assumptions, Western Exploration cannot assure shareholders and prospective purchasers of securities of the
Company that actual results will be consistent with such forward-looking information, as there may be other
factors that cause results not to be as anticipated, estimated or intended, and neither Western Exploration
nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking
information. Western Exploration does not undertake, and assumes no obligation, to update or revise any
such forward-looking statements or forward-looking information contained herein to reflect new events or
circumstances, except as may be required by law.
For additional information with respect to these and other factors and assumptions underlying the forward-
lo
oking statements and forward-looking information made in this news release concerning Western
Exploration, see the management information circular dated November 12, 2021, available electronically
under Western Exploration's issuer profile on SEDAR+ (w
ww.sedarplus.ca). The forward-looking statements
set forth herein concerning Western Exploration reflect management's expectations as at the date of this
news release and are subject to change after such date. Western Exploration 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 law.
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 news release. No
stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.+