Western Gold Announces Joint Venture with Acrux Gold to Explore High-Grade Gold, Silver, and Critical Minerals
Western Gold Announces Joint Venture with
Acrux Gold to Explore High-Grade Gold,
Silver, and Critical Minerals
North Berwick, Scotland--(Newsfile Corp. - November 25, 2025) -
WESTERN GOLD EXPLORATION
LTD. (TSXV: WGLD)
(the "
Company
") is pleased to announce that its wholly owned subsidiary, Lorne
Resources Ltd. ("
Lorne Resources
"), has entered into a joint venture (the "
JV
") with Acrux Gold
Limited ("
Acrux Gold
"), to explore for gold, silver, and critical minerals as part of the Caledonian Gold
Project in central Scotland.
Speaking about the joint venture, Western Gold Exploration Chairman, Harry Dobson, confirmed that
"The Company views this venture as a significant step forward in unlocking the broader gold potential of
the Caledonian Belt in Scotland, leveraging both Lorne's exploration expertise and Acrux Gold's
operational experience at Cononish."
Acrux Gold was chosen for this joint venture as it is operating on Scotland's only defined gold resource -
as measured under the JORC Code (2012) - the Cononish Gold Project, located near Tyndrum,
Perthshire, Scotland.
Under the new joint venture, all exploration and operational activities will be carried out by the JV
company, Glen Lyon Limited ("
Glen Lyon
"). Glen Lyon has applied for two Crown Estate Mines Royal
Option Agreements (exploration licences) covering a highly prospective area of approximately 500 km²
in central Scotland. The project areas for those exploration licences are adjacent to the Cononish Gold
Project, which hosts a high-grade deposit and runs along the same mineralised suture zones known to
host gold-bearing structures. A comprehensive review of historical geological and exploration data is
currently underway, and further updates will be provided in due course.
In establishing the JV, Lorne Resources and Acrux Gold have entered into a shareholders' agreement
dated November 25, 2025 for Glen Lyon. That agreement defines governance, funding, and operational
frameworks, with Lorne Resources holding 90% and Acrux Gold 10%. Acrux Gold holds a free carried
interest during the exploration phase, meaning it is not required to fund activities until completion of the
first formal resource estimate on any prospect, after which future costs will be shared proportionately.
The agreement also grants Acrux Gold rights to a termination, should Crown Estate Scotland issue a
termination notice relating to any exploration licence granted to Glen Lyon.
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 and its subsidiaries are focused on the exploration of mineral properties
in Scotland and discovering new opportunities across the underexplored Caledonian-Appalachian belt in
order to identify 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.
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
The reader is cautioned that mineralisation on adjacent properties is not necessarily indicative
of what can or will be found within any projects upon which Glen Lyon may be granted
exploration licences.
Review by Qualified Person, Quality Control and Reports
David Pym (CGeol), a consultant of the Company, is the Qualified Person (as defined by National
Instrument 43-101) who supervised, verified and approved the scientific and technical disclosure in this
press release on behalf of the Company.
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
timing and successful grant of any exploration licences by Crown Estate Scotland to Glen Lyon,
completion of any drilling and work programs on any prospects held by Glen Lyon, estimates of
mineralisation 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 or Glen Lyon 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 forwarding-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
Management's Discussion and Analysis for the Company 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/275938