WESCAN GOLDFIELDS INC. ENGAGES ACA HOWE AND ANNOUNCES PROPOSED PRIVATE PLACEMENT

Executive Summary

• Wescan Goldfields Inc. engaged A.C.A. Howe International to perform updated technical studies on its gold projects, aiming to refine resource estimates and support future development decisions.
• The company announced a private placement of up to 10 million units at $0.05 per unit, targeting gross proceeds of up to $500,000. Each unit includes one common share and one warrant (exercise price $0.10, 24‑month term).
• Proceeds will be used to update the Jojay Mineral Resource Estimate, review technical information on the historic Jasper mine and Munro Lake project for permitting and 2026 exploration, and for general working capital.

Key Details

• Technical Services Engagement:
• Partner: A.C.A. Howe International (ACA Howe).

• Scope: Updated geological studies, refined economics, and resource modeling for Wesnet’s gold assets.

• Private Placement Terms:

• Units offered: up to 10,000,000 units.
• Price per unit: $0.05.
• Gross proceeds target: $500,000.
• Unit composition: 1 common share + 1 common‑share purchase warrant.

• Warrant terms: Exercise price $0.10, exercisable for 24 months from issuance.

• Insider Participation:

• Insiders may subscribe for more than 20 % of the total offering.

• Finder’s Fees:

• Cash fee: 6 % of proceeds raised.

• Additional finder warrants equal to 6 % of units issued attributable to finders (same exercise price and term as other warrants).

• Closing Timeline & Conditions:

• Expected closing: on or about December 20, 2025, with a final possible date of December 30, 2025.
• Closing subject to TSX Venture Exchange approval.
• Offering may be completed in one or more tranches.

• All securities subject to a statutory hold period of four months and one day.

• Use of Proceeds:

• Update Mineral Resource Estimate on the Jojay project.
• Review technical information for historic Jasper mine and Munro Lake project to support permitting and planning of 2026 exploration programs.

• General working capital.

• Regulatory Notes:

• Offering conducted under exemptions from registration and prospect‑us requirements; limited to accredited investors, friends, and business associates of directors/officers.
• No offer or solicitation in the United States; securities not registered under U.S. law.

Notable Quotes

• “This engagement represents an important milestone in Wescan's efforts to advance its gold projects with updated geological information, refined economics, and a renewed focus on unlocking value across its assets,” – Company statement.