Western Gold Exploration Provides Corporate Update
Western Gold Exploration Provides Corporate
Update
North Berwick, Scotland--(Newsfile Corp. - June 6, 2023) -
WESTERN GOLD EXPLORATION LTD.
(TSXV: WGLD)
(the "
Company
") is pleased to provide a corporate update, as follows:
Interim Financial statements and MD&A for the three months ended March 31, 2023
The Company's Interim Financial statements and MD&A for the three months ended March 31, 2023,
were filed on SEDAR on May 18. 2023, and are available on the Company's website at
www.westerngoldexploration.com
.
Annual General and Special Meeting of Shareholders
The Company's Annual General and Special Meeting of Shareholders is scheduled on June 28, 2023, at
9 a.m. Mountain time via Zoom. Details are included in the Management Information Circular dated May
18, 2023, which was mailed to shareholders and posted on
www.SEDAR.com
on June 5, 2023. The
Record Date for the determination of shareholders entitled to vote their shares is May 29, 2023.
Grant of Stock Options
The Company also announces the grant of incentive stock options, on 6 June 2023, to acquire a total of
1,300,000 common shares of the Company at an exercise price of $0.12 per share, with such options to
vest immediately.
The options expire five years from the date of the grant.
Of these options, 1,100,000
options were granted to officers and directors of the Company and 200,000 options were granted to a
consultant to the Company.
About Western Gold Exploration Ltd.
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 principal focus is 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. Glasgow is the nearest
city and lies 85 km to the southeast of the Lagalochan Property. On November 29, 2022, the Company
filed a National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant, independent
Technical Report (the "Report") on the Lagalochan Property. The Company expects to advance the
Lagalochan Property exploration work in accordance with the Report recommendations. Additional
exploration of the Lorne Project may include Geophysics testing, including a joint IP/Mag. survey
proposed to test the subsurface expression of mineralized bodies, identifying and prioritizing potential
target areas, site preparation and drilling.
The Report and additional information about the Company are available on SEDAR at
www.sedar.com
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
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, timing and completion of any
drilling, exploration 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 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
Company's Management's Discussion and Analysis for the year ended December 31, 2021, and the
period ended September 30, 2022 available at
www.sedar.com
,
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/169008