WEX.V · 2024-09-20 12:00:00

Western Exploration Reports Positive Gravel Creek Metallurgical Results, Including GOLD Recovery of 94.8% to Combined Gravity and Flotation Concentrate

Metallurgy & Processing

WESTERN EXPLORATION REPORTS POSITIVE GRAVEL CREEK METALLURGICAL RESULTS,

INCLUDING GOLD RECOVERY OF 94.8% TO COMBINED GRAVITY AND FLOTATION

CONCENTRATE

Vancouver, British Columbia – September 20, 2024 – Western Exploration Inc. (TSXV: WEX; OTCQX:

WEXPF) (the " Company" or " Western Exploration ") is pleased to announce the results of 2024

metallurgical testing on composite samples from the Jarbidge rhyolite hanging wall zone of the Gravel

Creek deposit.

Highlights from the work include:

 Locked-cycle flotation tests indicate recoveries of 94.8% for gold and 89.8% for silver in a

combined gravity and flotation concentrate.

 The combined gravity and flotation concentrate were 10.9% of the feed weight and averaged

57.1 g/t Au, 1,725 g/t Ag.

 The flotation concentrate averaged 29.1% sulphide sulphur.

 Gravity concentration before rougher flotation concentration (from the gravity tailings)

recovered 22.4% of the Gold and 4.4% of the silver in 0.16% of the total feed weight with a gold

grade of 920 g/t and a silver grade of 5,750 g/t.

Western Exploration CEO, Darcy Marud, said, "Preliminary metallurgical test work on Gravel Creek

hanging wall mineralization has returned very positive results for the recovery of gold and silver to

concentrate. The recoveries are similar to past Gravel Creek metallurgical test work and demonstrate a

potential path to economic recovery for precious metals."

2024 Flotation Metallurgy Sample Locations

Flotation test work was conducted on a gold and silver bearing diamond drill composite from core holes

WG456 and WG457, drilled in 2023 in the Jarbidge rhyolite. The two oriented core holes were completed

to evaluate resource expansion potential in mineralized vein/breccia trends northeast of the Gravel Creek

resource (Figure 1).

 Hole WG456, located 250 meters northeast of the Gravel Creek resource area, reported individual

assays up to 34.9 g/t Au and 2800.0 g/t Ag as reported in Company news release dated November

21, 2023.

 Hole WG457, located 140 meters northeast of the Gravel Creek resource area, reported individual

assays up to 257.0 g/t Au and 1655.0 g/t Ag as reported in a Company news release dated January

8, 2024.

 The composite was comprised of sulphide mineralization collected from samples ranging in

downhole depths of 316 meters to 731 meters in WG456 and WG457.

Figure 1: Location of 2023 PQ Oriented core holes at Gravel Creek.

Flotation Program and Results

All test work was completed by McClelland Laboratories, Inc (“MLI”) of Sparks, Nevada. Flotation testing

was conducted on a gold and silver bearing Gravel Creek drill core composite, designated 4991-001, to

evaluate response to flotation processing. The composite comprised sulphidic mineralization ranging

from 316 meters to 731 meters downhole depths from two drill holes (WG456 and WG457).

Composite assays showed that it contained 6.14 g/t Au, 206 g/t Ag and 2.71% sulphide sulphur. Cyanide

shake analysis showed that the sample had cyanide soluble to fire assay ratios (CN/FA) of 53.4% for gold

and 36.8% for silver. The composite contained negligible amounts (<0.1%) carbon. A preg-rob assay

showed that it was not preg-robbing.

Initially, six rougher flotation tests were conducted at feed sizes ranging from 80%-150 micron to 80%-

45 micron. A typical bulk sulphide flotation collector reagent suite was employed for all tests. Following

grind optimization testing, a bulk rougher concentrate was produced and used for preliminary cleaner

flotation testing. The objectives for the testing were to maximize gold and silver recovery and

concentrate grades. Sulphide sulphur recoveries were also tracked during testing. Variability in flotation

tail grade caused significant variability in flotation gold recoveries.

Flotation testing showed that the Gravel Creek mineralization responded very well to bulk sulphide

flotation treatment. Gold and silver recoveries of as high as >92% were achieved with rougher flotation

mass pulls of approximately 11%, Table 1 and Figure 2.

Table 1. - Flotation Concentration Test Results, Test F-5, Gravel Creek Composite 4991-001, 80%-75-micron Feed Size

Wt. Cum. Wt. Assay Au Distribution Ag Distribution S= Distribution

Product % % Au g/t Ag g/t % S = % Cum. % % Cum. % % Cum. %

Ro. Conc. Stg. 1 (0-2 min) 4.1 4.1 95.5 3,360 28.07 57.0 57.0 64.0 64.0 42.9 42.9

Ro. Conc. Stg. 1 (2-5 min) 2.3 6.4 54.1 1,480 28.96 18.1 75.1 15.8 79.8 24.8 67.7

Ro. Conc. Stg. 2 2.3 8.7 47.4 1,010 22.17 15.8 90.9 10.8 90.6 19.0 86.7

Ro. Conc. Stg. 3 0.9 9.6 22.2 546 12.73 2.9 93.8 2.3 92.9 4.3 91.0

Ro. Conc. Stg. 4 0.6 10.2 12.4 306 7.42 1.1 94.9 0.9 93.8 1.7 92.7

Ro. Conc. Stg. 5 0.4 10.6 7.0 206 3.81 * 0.4 95.3 0.4 94.2 0.6 93.3

Ro. Tail 89.4 100.0 0.36 14 0.20 4.7 100.0 5.8 100.0 6.7 100.0

Composite 100.0 6.87 215 2.68 100.0 100.0 100.0

* Insufficient sample was available for sulphide assay. The average of the adjacent product grades was used.

Figure 2. - Rougher Flotation Recovery vs. Mass Pull, Gravel Creek Comp. 4991-001, 80%-75 micron

Preliminary cleaner flotation testing showed that it was possible to significantly increase concentrate

grades by cleaning. Cleaner concentrate grades of as high as >70 g/t Au, >3,900 g/t Ag and 41% sulphide

sulphur were achieved.

Regrinding the rougher concentrate for as much as 90 minutes resulted in production of a cleaner

concentrate that was 3.2% of the ore weight, assayed 72.4 g/t Au, 3,920 g/t Ag and 41.07% sulphide

sulphur and represented recoveries of 35.9% gold, 59.6% silver and 49.2% sulphide sulphur. The

corresponding cleaner tail was another 7.4% of the feed weight, assayed 40.6 g/t Au, 898 g/t Ag and

16.04% sulphide sulphur and represented additional recoveries of 46.5% gold, 31.5% silver and 44.4%

sulphide sulphur, Table 2.

100

0.0 2.0 4.0 6.0 8.0 10.0 12.0

Recovery, % of total

Mass Pull, %

Au Ag S=

Table 2. - Rougher/Cleaner Flotation Concentration Test Results, Gravel Creek Composite 4991-001, 4991 F-6 Rougher

Concentrate, 90 min Regrind of Ro. Conc.

Wt. Cum. Wt. Assay Au Distribution Ag Distribution S= Distribution

Product % % Au g/t Ag g/t % S = % Cum. % % Cum. % % Cum. %

Cl. Conc. 3.2 3.2 72.4 3,920 41.07 35.9 35.9 59.6 59.6 49.2 49.2

Cl. Tail 7.4 10.6 40.6 898 16.04 46.5 82.4 31.5 91.1 44.4 93.6

Ro. Tail 89.4 100.0 1.27 21 0.19 17.6 100.0 8.9 100.0 6.4 100.0

Composite 100.0 6.46 211 2.67 100.0 100.0 100.0

A gravity concentration test was conducted on tailings from one of the flotation tests to evaluate causes

for variability in flotation tail grade. Results showed that most (77%) of the gold contained in the

flotation rougher tail sample was gravity recoverable. The gravity concentrate produced was 0.07% of

the flotation tail weight, assayed 2,250 g/t Au and represented 77.0% of the gold contained in the

flotation tailing.

Follow up locked-cycle flotation test work was conducted at an 80% - 150micron grind size on gravity

tails generated from the sample composite. Test results showed that the combined gravity and flotation

concentrate was 10.9% of the feed weight, assayed 57.1 g/t Au and 1,725 g/t Ag. Recoveries reporting

to this combined concentrate were 94.8% gold and 89.8% silver of the values contained in the whole

feed. The combined concentrate described above included a gravity cleaner concentrate and flotation

rougher concentrate (from locked-cycle testing on the gravity tailing). The gravity concentrate was

0.16% of the feed weight, assayed 920 g/t Au and 5,750 g/t Ag and represented gold and silver

recoveries of 22.4% and 4.4% respectively. The gravity concentrate was not assayed for sulphide

sulphur. The flotation concentrate was 10.74% of the whole feed weight, assayed 44.3 g/Au, 1,665 g/t

Au and 21.9% sulphide sulphur and represented gold and silver recoveries of 72.4% and 85.4%

respectively of values contained in the whole feed weight.

Table 3. – Gravity/Flotation Test, Gravel Creek Composite 4991-001, 80%-212-micron (Gravity Test G-

2)/80%-150 micron Regrind (Locked Cycle Flotation Test F-9, average of Cycles 5&6)

Wt. Cum. Wt. Assay Au Distribution Ag Distribution S = Distribution

Product % % Au g/t Ag g/t % S = % Cum. % % Cum. % % Cum. %

Grav. Cl.

Conc. 0.16 0.16 920 5750 N/A * 22.4 22.4 4.4 4.4 N/A N/A

Flotation Ro.

Conc. 10.74 10.90 44.3 1665 21.9 72.4 94.8 85.4 89.8 95.3 95.3

Flotation Ro.

Tail 89.10 100.00 0.38 24 0.13 5.2 100.0 10.2 100.0 4.7 100.0

Composite 100.00 6.56 209 2.46 100.0 100.0 100.0

*N/A denotes Not Available

About the Aura Project

The 6,000-hectare Aura Project has established mineral resource estimates in three different deposits

(Doby George, Gravel Creek and Wood Gulch), as reported in the "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"; see Table 4 below). The mineral resource estimates in the Technical Report were

established in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects

("NI 43-101").

In addition, 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 Figure 2 below).

Western Exploration has exploration, development, and mining rights on 930 hectares of privately owned

land through a mineral lease agreement with a local landowner and may purchase those fee lands at any

time for the development of Doby George.

Table 4. - Mineral resource estimates for the Aura Project as reported in the 2021 Technical

Report.

MINERAL RESOURCE(1)

Indicated Inferred

Tonnes

(g/t)

(ozs)

(g/t)

(ozs)

AuEq

(g/t)

AuEq

(oz.) Tonnes

(g/t)

(ozs)

(g/t)

(ozs)

AuEq

(g/t)

AuEq

(oz.)

Doby

George(2) 12,922,000 0.98 407,000 - - 0.98 407,000 4,999,000 0.73 118,000 - - 0.73 118,000

Wood

Gulch(3) - - - - - - - 4,359,000 0.66 93,000 5.80 808,000 0.74 104,543

Gravel

Creek(4) 1,315,000 4.73 200,000 75.0 3,169,000 5.81 245,271 2,744,000 4.16 367,000 60.20 5,307,000 5.02 442,814

TOTAL 14,237,000 1.33 607,000 75.0 3,169,000 1.43 652,271 12,102,000 1.48 578,000 15.74 6,115,000 1.71 665,357

Notes:

(1) Au equivalent oz assumes US$1,800 per oz Au and 70:1 ratio of Ag:Au.

(2) Pit constrained 0.2 g/t AuEq cutoff for oxide, 0.4 g/t Au cutoff for mixed and 1.4 g/t Au cutoff for unoxidized.

(3) Pit constrained 0.2 g/t AuEq cutoff.

(4) 3.0 g/t Au cutoff.

See "Cautionary Statements Regarding Estimates of Mineral Resources" below.

Figure 2. Aura Project – Land holdings and Infrastructure.

About Western Exploration

Western Exploration is focused on advancing the 100% owned gold-silver Aura project, located

approximately 120 kilometers/75 miles north of the city of Elko, Nevada. The project includes three

unique gold and silver deposits: Doby George, Gravel Creek, and Wood Gulch.

Western Exploration is comprised of an experienced team of precious metals experts that aim to lead

the company to becoming North America's premiere gold and silver development company.

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]

Qualified Person Approval

The scientific and technical information in this news release has been reviewed and approved by Mark

Hawksworth, General Manager of the Aura Project, and Jack McPartland of MLI, each of whom is a

"qualified person" within the meaning of NI 43-101.

Quality Assurance / Quality Control

Exploration 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. For Western Exploration legacy samples, standards and blanks and duplicates

were generally included approximately every 20th sample for QA/QC purposes by the Company as well as

the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay. QA/QC

controls are not fully documented for legacy assays from the 1980s and 1990s but Mine Development

Associates conducted rigorous evaluation of adjacent assay intervals as part of the Technical Report

resource calculations. Please see below under the heading "Cautionary Note Regarding Forward-Looking

Information" for further details regarding the risks facing Western Exploration.

Metallurgical Test Work

Interval Preparation and Assay; A total of 28 drill interval samples, from the Gravel Creek deposit were

received on January 18, 2024. Select samples from drill holes WG456 (ranging from 1,792.7' to 2,397')

and WG457 (ranging from 1,036.5' to 2,319.2') were used for testing. The interval samples were

previously crushed to a nominal 2mm and weighed 0.3 to 7.3 kg each. Select samples (19) were

combined in entirety to produce Gravel Creek composite 4991-001.

The entire composite was stage crushed to just passing 1.7mm in size. The -1.7mm composite was

thoroughly blended and split to obtain multiple 1.0 kg samples for testing and triplicate

0.25 kg samples for head assay.

The composite was assayed directly in triplicate, using conventional fire assay fusion procedures, to

determine gold and silver content. A single cyanide shake analysis was conducted, with and without a

“gold spike” leach solution (preg-rob test series). Carbon and sulphur speciation analyses were

conducted using Leco/pyrolysis methods. A single multi-element ICP scan was conducted.

Flotation Testing

A total of six rougher flotation tests were conducted on composite 4991-001, at feed sizes ranging from

80%-150µm to 80%-45µm, to evaluate response to flotation and to optimize flotation feed size. The

tests were conducted using a bulk sulphide flotation reagent scheme, designed to maximize recoveries

of sulphide minerals, gold and silver.

Initially, a scouter rougher flotation test was conducted on a 1 kg sample at an 80%-75µm feed size, to

obtain preliminary information concerning response of the ore to flotation treatment. Based on those

results, a series of three additional rougher flotation tests (1 kg each) were conducted at feed sizes of

80%-150µm, 80%-106µm and 80%-45µm to optimize feed size. Based on those test results, the 75µm

feed size was selected for further testing. A kinetic rougher flotation test was conducted at the 75µm

feed size, to establish the relationships between flotation time, mass pull, rougher concentrate grade

and recovery. A bulk flotation test (16 kg) was conducted at the 75µm feed size to generate rougher

concentrate for cleaner flotation testing. Cleaner flotation tests (3) were conducted on the resulting bulk

rougher concentrate to evaluate the potential for increasing concentrate grade by regrinding and

cleaner flotation.

The same reagent suite was used for all rougher flotation tests. Flotation was conducted using a Denver

laboratory scale flotation unit at 1,200 rpm. Each ground pulp was slurried with grind water to achieve

33% solids (wt/wt) and was conditioned for 5 minutes with 0.25 kg/mt CuSO4∙5H2O.

Flotation was conducted in 5 stages with incremental additions of 0.005 kg/mt ore of PAX (potassium

amyl xanthate) and 0.010 kg/mt AERO 208 (dithiophosphate) collectors at each stage. Respective total

addition of each reagent was 0.025 and 0.050 kg/mt ore. AEROFROTH 65 was used as frother. The pulp

was floated at natural pH. For all rougher flotation tests, except for the kinetic test, the 5 stages of

concentrate were combined into a rougher concentrate. Those rougher concentrates were dried,

weighed and assayed directly to determine gold, silver and sulphide sulphur content.

The five staged rougher concentrate samples generated from the kinetic flotation test (F-5) were each

dried, weighed and assayed separately for the same constituents.

In the case of the bulk (16 kg) rougher flotation test (F-6), rougher flotation was conducted in two 8 kg

lots, using a larger flotation machine. The rougher concentrates produced from those two tests were

combined, dried, weighed and split to obtain three 0.5 kg samples for cleaner flotation testing and 0.2

kg for assay. The combined rougher concentrate was assayed directly to determine gold, silver and

sulphide sulphur content. The rougher tails from each 8 kg lot were dried, weighed and assayed

separately, in triplicate to determine gold silver and sulphide sulphur content (one sulphide sulphur

assay per 8 kg lot). Results presented for rougher flotation test F-6 are based on the average of assay

results from the two 8 kg lots (designated F-6A and F-6B).

Cleaner flotation tests (3) were conducted on the rougher concentrate generated from the bulk flotation

test (F-6). The tests were conducted on 0.5 kg splits of rougher concentrate after regrinds of 1 minute

(polish grind), 45 minutes and 90 minutes. Cleaner flotation was conducted without additional collector

or promoter. Frother was added as required. The resulting cleaner concentrates and cleaner tails were

dried, weighed and assayed to determine gold, silver and sulphide sulphur content.

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 Statements Regarding Estimates of Mineral Resources

This news release uses the terms measured mineral resources, indicated mineral resources, and inferred

mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are

cautioned that mineral resources are not mineral reserves and that the economic viability of mineral

resources that are not mineral reserves has not been demonstrated. The mineral resource estimate

disclosed in this news release may be materially affected by geology, environmental, permitting, legal,

title, socio-political, marketing, or other relevant issues. It cannot be assumed that all or any part of the

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