Western Gold Announces Increase in Size of Its Private Placement
Western Gold Announces Increase in Size of
Its Private Placement
North Berwick, Scotland--(Newsfile Corp. - December 4, 2025) -
WESTERN GOLD EXPLORATION
LTD. (TSXV: WGLD)
(the "
Company
") is pleased to announce it has increased the total potential
amount of its non-brokered private placement of common shares (the "
Private Placement
") announced
on December 3, 2025. The Company now intends the Private Placement to consist of up to 17,037,038
common shares of the Company at a price of CAD$0.135 per share for gross proceeds of up to
CAD$2,300,000.
The Private Placement is subject to the approval of the TSX Venture Exchange (the "
Exchange
"). The
securities issued in connection with the Private Placement will be subject to a four month hold period, in
accordance with applicable securities laws.
The Company intends to use the proceeds from the Private Placement toward exploration drilling
programs and related work on its mining properties and for general and administrative expenses.
The Company may pay a commission or finder's fee to eligible parties in connection with the Private
Placement, subject to the approval of the Exchange and compliance with applicable securities laws.
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 of mineral properties in Scotland and
discovering new opportunities across the underexplored Caledonian Appalachian and identifying
locations of gold and critical metal deposits. The Company's focus has expanded to include the
Caledonian Gold Project in addition to 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. The
Caledonian Gold Project
lies within one of Scotland's most
prospective mineral belts and is adjacent to Scotland's only gold mine, the
Cononish Gold Mine
,
operated by JV partners Acrux Gold.
The Company recently announced that its wholly-owned subsidiary, Lorne Resources Ltd., has entered
into a joint venture with Acrux Gold Limited, to explore for gold, silver, and critical minerals as part of the
Caledonian Gold Project in central Scotland.
See the Company's 25 November 2025 press release for
additional information.
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
www.sedarplus.ca
under the Company's profile and on the Company's website:
www.westerngoldexploration.com
.
For further information, please contact:
Ross McLellan, CEO
Phone:
+44 7779 161441
Email:
Website:
www.westerngoldexploration.com
This press release is not an offer of the Company's securities for sale in the United States. The
Company's securities may not be offered or sold in the United States absent registration or an
available exemption from the registration requirements of the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act") and applicable U.S. state securities laws. The Company will
not make any public offering of its securities in the United States. The Company's securities
have not been and will not be registered under the U.S. Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect to
approvals from the TSX Venture Exchange related to the Private Placement, completion of the
Private Placement, the anticipated use of proceeds of the Private Placement, timing and completion
of any drilling and work programs on the Company's properties, estimates of mineralization from
drilling, geological information projected from drilling results, potential for minerals and/or mineral
resources, and statements regarding the plans, intentions, beliefs, and current expectations of the
Company with respect to the future business activities and operating performance of the Company
that may be described herein. Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations or intentions regarding the
future. Such information can generally be identified by the use of forward-looking wording such as
"may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or
similar variations. Readers are cautioned not to place undue reliance on forward-looking statements,
as there can be no assurance that the plans, intentions or expectations upon which they are based will
occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to the possibility that the predictions,
estimates, forecasts, projections and other forward-looking statements will not occur. These
assumptions, risks and uncertainties include, among other things, the state of the economy in general
and capital markets in particular, accuracy of assay results, geological interpretations from drilling
results, timing and amount of capital expenditures; performance of available laboratory and other
related services, future operating costs, and the historical basis for current estimates of potential
quantities and grades of target zones, as well as those risk factors discussed or referred to in the
Company's Management's Discussion and Analysis for the year ended December 31, 2024, and the
period ended September 30, 2025, available at
www.sedarplus.ca
, many of which are beyond the
control of the Company. Forward-looking statements contained in this press release are expressly
qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press
release. Except as required by law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY
WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES
LAWS
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