Western Exploration Provides Update ON Drilling Activities at Gravel Creek
WESTERN EXPLORATION PROVIDES UPDATE ON DRILLING
ACTIVITIES AT GRAVEL CREEK
Drill Results up to 0.7 meters @ 143.56 g/t AuEq Highlight Significant Resource
Expansion Potential North-East of the Current Gravel Creek Deposit
Vancouver, British Columbia – January 8, 2024 – Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) (the
"Company" or "Western Exploration") is pleased to announce final assay results and structural interpretation
from the 2023 core drilling program in the Jarbidge rhyolite north-east of the Gravel Creek resource area at
the Company's wholly-owned Aura gold-silver project (the "Aura Project").
Highlights from 2023 Drill Program
• Two oriented core holes were completed to evaluate resource expansion potential in the mineralized
vein/breccia trends north-east of the Gravel Creek resource area (see Figure 1 below).
• Hole WG457 reported individual assays of up to 257.0 g/t Au and 1655.0 g/t Ag, with key intercepts
including:
• 0.7 meters of 143.56 g/t AuEq (138.82 g/t Au and 403.4 g/t Ag)
• 1.0 meters of 67.49 g/t AuEq (52.46 g/t Au and 1278.0 g/t Ag)
• Assay results for hole WG456 were included in a news release of the Company dated November 21,
2023, entitled "Western Exploration Provides Update on Drilling Activities at Gravel Creek".
• Structural interpretation of the 2023 oriented core data and previous surface mapping has confirmed
a series of intersecting north-west and north-east trending structures containing local high -grade
epithermal Au-Ag mineralization over an area of 550 meters by 350 meters in size immediately
adjacent to the area of the current Gravel Creek resource of 245,571 Aueq ounces at 5.81 g/t Aueq
in the Indicated category and 442,814 Aueq ounces at 5.02 g/t Aueq in the Inferred category (see
Table 4 for resource table)
• Intercepts in core holes WG456 and WG457 link high -grade intercepts in adjacent legacy drill holes,
defining a north/north-west trending, moderately south-west dipping zone of quartz-pyrite-marcasite
bearing vein, stockwork and hydrothermal breccias located 140 meters to 250 meters east/north-east
of the Gravel Creek resource area (see Figure 2 below).
• Multiple +20.0 g/t AuEq i ntercepts 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 over 0.5 to 4.6
meters and grades up to 257.0 g/t Au and 2800.0 g/t Ag (see Figure 2 below). 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
Significance of Results for Resource Expansion Potential
Western Exploration CEO , Darcy Marud, commented: "Western Exploration is extremely pleased with the
2023 drill program results, which intersected some of the highest assay values ever recorded at Gravel Creek
(2800.0 g/t Ag in WG456 and 257.0 g/t Au in WG457). The structural interpretation 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 with grades that are significantly higher than the
current resource grades. Additional oriented core drilling is justified to extend the north/north-west trending
vein zone and to connect the multiple + 5.0 g/t Au intercepts identified by wide -spaced legacy holes in area
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550 meters by 350 meters in size, with the goal of expanding the Gravel Creek resource base with high-grade
Au-Ag vein mineralization.”
Multiple high-grade Au-Ag vein drill intercepts peripheral to the Gravel Creek Deposit
Previous drilling, as reported in the Technical Report (as defined herein), intersected multiple high-grade Au-
Ag bearing vein intercepts of up to 40.05 g/t Au and 1951.0 g/t Ag in the Miocene Jarbidge volcanics overlying
and lateral to the Gravel Creek deposit. None of these Jarbidge -hosted intercepts have been included in
previous resource estimates.
Results have been received for hole WG457, which intersected 9 vein, stockwork or hydrothermal breccia
zones with AuEq grades of over 3.0 g/t, with individual assays of up to 257.0 g/t Au and 1655.0 g/t Ag . Key
intercepts are shown in Figure 2 and Figure 3 below, with referenced intercepts in cluded in Table 1. All
intercepts with grades of over 3.0 g/t AuEq are included in Table 2 below, with drill coordinates shown in
Table 3.
Analysis and interpretation of oriented core data collected in 2023 by Oriented Targeting Solutions shows a
complex array of intersecting veins, stockwork and hydrothermal breccias following steep to shallow north-
west to north -east trends that mimic the known structural controls on mineralization. The strongest
correlation between WG456 -WG457 links mineralized structures to a north /north-west trending corridor,
with moderate dips west /south-west towards the main GC Fault zone . Multiple intercepts along two sub -
parallel veins zones show grades of over 20.0 g/t AuEq along a dip length of over 200 meters. Flow banded
zones within the rhyolite show preferential steeply dipping north -east trends, which also appear to be
controlling the emplacement of some veining and hydrothermal breccia zones.
Significance for Future Gravel Creek Exploration
Future drilling will focus on the 550-meter by 350-meter area where multiple intercepts with grades of over
5.0 g/t AuEq were recorded in widely spaced legacy holes (see Figure 4 below). The results also provide
additional support to justify further exploration of: (a) the coincident strong multi-element soil anomaly and
density anomaly extending from Wood Gulch through Gravel Creek and continuing 2.0 k ilometers to the
north-east of the Gravel Creek resource area; and (b) the north-west trending density and chargeability
anomaly with coincident multi -element soil anomaly extending 2.0 kilometers to the north -west of Gravel
Creek (see Figure 5 below).
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Figure 1. Plan map showing location and key intercepts in holes WG456 and WG457 relative to +3.0 g/t Au
Gravel Creek resource blocks. Section A-A is shown in Figure 3 below.
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Figure 2. Cross section through drill holes WG456, WG457 and legacy holes showing continuity of high grade
values along sub parallel structural zones interpreted from oriented core. The vein zones and subsidiary
splays have +20.0 g/t AuEq grades on a dip length of potentially +200 meters (AuEq calculated at 85:1 Ag:
Au; see Figure 3 for location reference and Table 1 for details).
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Figure 3. Long section through core holes WG456 and WG457 (looking north), showing key intercepts and
interpreted oriented core vein trends from Oriented Targeting Solutions and inferred trends to tie in legacy
intercepts with no oriented core data. Intervals noted with green numbers are referenced in Table 1.
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Table 1. Summary of +3.0 g/t AuEq vein intercepts shown in Figure 3.
START END Interval(1) AuEq(2) Au Ag
HOLE m m m ppm ppm ppm
WG457 635.5 635.7 0.2 22.33 17.15 440.0
WG457 651.4 654.4 3.0 3.12 2.92 17.1
with 651.8 652.4 0.6 5.37 4.97 34.2
WG457 674.2 675.3 1.1 4.84 4.56 24.1
WG457 686.7 687.5 0.7 143.56 138.82 403.4
WG457 706.5 707.4 0.9 67.49 52.46 1278.0
WG457 723.0 723.3 0.3 20.29 19.50 67.4
WG456 625.6 629.1 3.5 6.64 4.59 174.6
with 625.6 628.0 2.4 7.82 5.37 208.1
WG456 631.1 633.1 2.0 21.96 12.77 780.9
with 631.1 632.2 1.1 31.95 19.60 1050.0
WG456 683.9 686.0 2.1 7.56 5.40 183.1
with 685.6 686.0 0.4 26.03 18.85 610.0
WG377 541.0 542.5 1.5 43.77 24.30 1655.0
WG377 563.9 565.4 1.5 34.39 26.00 713.0
WG377 603.5 608.1 4.6 32.76 23.36 799.2
with 603.5 605.0 1.5 74.46 49.40 2130.0
WG434 477.0 478.5 1.5 20.44 13.05 480.0
WG434 490.7 493.8 3.0 20.47 12.02 549.0
WG434 588.3 590.4 2.1 43.45 29.59 900.6
with 589.5 589.8 0.3 87.48 68.30 1630.0
WG450 409.9 410.2 0.3 60.05 37.10 1951.0
WG401 562.3 563.8 1.5 17.17 12.65 384.0
WG401 635.5 638.6 3.0 5.98 5.68 25.5
Notes:
(1) Intervals are calculated with minimum grades of 3.0 g/t AuEq. True widths are estimated at 50-90% of drill intervals.
(2) Assays are uncut and as received. AuEq calculated at a ratio of 85:1 of Ag:Au.
(3) Assay results for hole WG456 were included in a news release of the Company dated November 21, 2023, entitled "Western Exploration
Provides Update on Drilling Activities at Gravel Creek".
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Figure 4. Wide-spaced drilling in the Jarbidge rhyolite has intersected local +5.0 g/t Au intercepts up to the
limit of current drilling in an area of 550 meters by 350 meters in dimension, with intercepts up to 350 meters
from the Gravel Creek resource grade shell.
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Figure 5. Location of 2023 core hole relative to surface projection of the Gravel Creek deposit. Note the
north-east trending density anomaly that extends from Wood Gulch to at least 2.0 k ilometers to the
north-east of the Gravel Creek resource area is paralleled by a strong As -in-soil anomaly with highly
anomalous Au-As-As-Sb-Mo values in outcrop/subcrop to the north-east of Badger and 0.9 kilometers to