WestGold Metals Announces Non-Brokered Offering of up to $2 Million Fully Allocated
Vancouver, British Columbia – May 21, 2026 – WestGold Metals Corp. (“ WestGold” or the “ Company”)
(CSE: WGM; OTCQB: WGMTF; FSE: V0U) is pleased to announce that its previously announced nonbrokered private placement for gross proceeds of up to C$2,000,000 (the “ Offering“) is now fully
allocated.
James Hocking, Chief Executive Officer and Director of WestGold, commented:
“We are very pleased and humbled by the strong investor response to this Offering. The support we have
received reflects confidence in WestGold’s strategy and the quality of the Idaho Portfolio we are building.
We look forward to closing in the coming weeks and deploying this capital to advance our technical work
programs.”
As previously announced on May 20, 2026, the Offering consists of up to 25,000,000 units (each, a “Unit”)
at a price of C$0.08 per Unit, with each Unit comprising one common share and one common share
purchase warrant (each, a “ Warrant“). Each Warrant entitles the holder to acquire one additional
common share at an exercise price of C$0.135 for a period of 36 months from the date of issuance. The
Company intends to use net proceeds to advance its exploration and acquisition strategy, including
planned work programs on the Idaho Portfolio.
Completion of the Offering remains subject to customary closing conditions, including acceptance by the
Canadian Securities Exchange. All securities issued pursuant to the Offering will be subject to a statutory
hold period of four months plus one day from the date of issuance in accordance with applicable Canadian
securities legislation.
Overview of the Idaho Properties
The three properties comprising the Idaho Portfolio cover a combined 79 unpatented lode mining claims
on 660.5 hectares of BLM-administered lands, spanning two distinct geological settings with strong
historical mining pedigree and significant modern exploration upside.
Amie Project, epithermal Au-Ag, Owyhee County, Idaho
The Amie Project is WestGold’s flagship asset within the Idaho Portfolio and the Company’s primary nearterm exploration focus. The property comprises 53 unpatented lode mining claims covering approximately
392.79 hectares in Owyhee County, southwest Idaho, located approximately 70 km southwest of
Mountain Home, accessible year-round by vehicle via paved State Highway 78 and secondary gravel roads.
The Amie Project is situated on the northeastern flank of the Owyhee Mountains, at the margin of the
Snake River Plain, within the same southeast-trending Miocene-age epithermal gold-silver belt that hosts
Integra Resources’ DeLamar Project, a past-producing mine with a current measured and indicated
resource of approximately 2.9 million ounces of gold and 144 million ounces of silver (Integra Resources, February 2026 feasibility study). DeLamar is located approximately 30 miles northwest of the Amie
Property. Physical evidence of historical activity on the Amie Property includes 11 adits, 4 shafts, and 46
test pits across the property, including the past-producing Amie No. 1 and No. 2 shafts, the Big Shot Mine,
and the Roadside Mine
Since acquiring the property in 2021, IDEX conducted a systematic reconnaissance exploration program
comprising soil geochemistry, rock chip sampling, and spectral mineralogy analysis:
• Soil Geochemistry: 984 soil samples on a 100 m × 50 m grid across approximately 80% of the
property returned anomalous gold, silver, lead, arsenic and antimony, with distinct mineralized
trends interpreted to reflect pre-existing fault structures.
• Spectral Mineralogy: 58 rock samples analyzed by short-wave infrared spectroscopy returned
mineral assemblages consistent with an intermediate-sulfidation epithermal environment possibly
transitioning to a low-sulfidation environment, the same deposit classification characteristic of the
broader Silver City-DeLamar region.
Silver Rock Project, epithermal Ag-Au, Owyhee County, Idaho
The Silver Rock Project is located in Owyhee County, southwest Idaho, within the same Miocene-age
epithermal belt as the Amie Project. The property hosts a high-grade silver system with multi-phase,
northwest-trending epithermal veins, and historical infrastructure including 8 adits and 15 pits. Elevated
pathfinder elements (mercury, arsenic, antimony) support the epithermal signature. The property has
received no modern systematic exploration or drilling.
Demming Project, epithermal Au-Ag, Owyhee County, Idaho
The Demming Project is located in Owyhee County, southwest Idaho. The property hosts a vertical Au-Ag
quartz fissure vein system extending over 1,000 feet in strike length, averaging 6–10 feet in width,
associated with a historic mine that operated a 100-ton-per-day flotation mill with approximately 8,000
feet of underground development. Dozens of additional parallel veins remain undrilled, extending along
a 20-mile structural belt. A stockpile of mineralized material remains on site.
There are no current mineral resources defined at any of either Amie, Silver Rock or Demming projects.
Exploration plans
Antoine Soucy-Fradette, Vice President Exploration, will lead the technical advancement of the Idaho
Portfolio. WestGold intends to prioritize the Amie Project as its initial exploration focus and plans to
initiate the Project’s maiden drill program based on targets generated through detailed geological
mapping, geophysical surveys, and systematic sampling. Reconnaissance programs will also be conducted
at the Silver Rock and Demming Projects to evaluate their near-term exploration potential. The Company
will provide further updates on its exploration plans and any financing activities in due course.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Darren
Lefort, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”).
The historical information of this news release relating to the Demming and Silver Rock properties is
sourced from a government report titled “Site Inspection Report for Abandoned and Inactive Mines in
Southern Idaho: Volume III: Miscellaneous Properties, Owyhee County, Idaho” prepared by Earl H. Bennet
et al. in 2000 for the Bureau of Land Management.
The securities to be issued pursuant to the Offering have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable
exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell
or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in
any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About WestGold Metals Corp.
WestGold Metals Corp. is a Canadian mineral exploration company focused on the identification,
acquisition, and advancement of precious metal exploration opportunities in established North American
mining districts. The Company is building a portfolio of high-quality assets in politically stable, miningfriendly jurisdictions, led by an experienced management team with backgrounds in equity capital
markets, commercial development, and technical exploration. WestGold’s common shares are listed on
the Canadian Securities Exchange under the symbol WGM, quoted on the OTCQB under the symbol
WGMTF, and traded on the Frankfurt Stock Exchange under the symbol V0U. For more information,
investors are encouraged to review the Company’s public filings available at www.sedarplus.ca.
For further information, please contact:
James Hocking
Chief Executive Officer & Director
E: investors@westgoldmetals.com
**Neither the Canadian Securities Exchange nor its Market Regulator, as that term is defined in the policies**
**of the Canadian Securities Exchange, accepts responsibility for the adequacy or accuracy of this release.**
Forward-looking statements
This news release contains or incorporates by reference “forward-looking statements” and “forwardlooking information” as defined under applicable Canadian securities legislation. All statements, other
than statements of historical fact, which address events, results, outcomes, or developments that the
Company expects to occur are, or may be deemed to be, forward-looking statements. Forward-looking
statements are generally, but not always, identified by the use of forward-looking terminology such as
“anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,”
“could,” “would,” “may,” “will,” “forecast” and other similar expressions.
Forward-looking statements in this news release include statements relating to the Offering, the
anticipated size of the Offering, the expected closing of the Offering in one or more tranches, the receipt
of all necessary regulatory approvals, the anticipated use of proceeds, the Company’s exploration and
acquisition strategy, the advancement of the Company’s mineral projects, and the proposed acquisition
and future exploration of the Idaho Portfolio.
Forward-looking statements or information are subject to a variety of known and unknown risks,
uncertainties and other factors that could cause actual events or results to differ from those reflected in
the forward-looking statements or information, including, without limitation, the risk that the Offering
may not be completed on the terms announced or at all; the risk that the Company may not receive all
necessary regulatory approvals; the risk that the Company may not complete the proposed acquisition of
the Idaho Portfolio; the need for additional capital by the Company through financings, and the risk that
such funds may not be raised; the speculative nature of exploration and the stages of the Company’s
properties; the effect of changes in commodity prices; regulatory risks; availability of equipment and
personnel to carry out work programs; that each stage of work will be completed within expected time
frames; that current geological models and interpretations prove correct; the results of ongoing work
programs may lead to a change of exploration priorities; and the efforts and abilities of the senior
management team.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be as anticipated, estimated, described or
intended. Accordingly, readers should not place undue reliance on forward-looking statements or
information. The Company’s forward-looking statements and information are based on the assumptions,
beliefs, expectations, and opinions of management as of the date of this news release, and other than as
required by applicable securities laws, the Company does not assume any obligation to update forwardlooking statements and information if circumstances or management’s assumptions, beliefs, expectations
or opinions should change, or changes in any other events affecting such statements or information.