Western Gold Announces High Grade Gold Findings from First Tranche of Fieldwork in Caledonian Gold Project

The most recent news (March 30, 2026) reports the first tranche of modern fieldwork results from the Lyon licence application within the Caledonian Gold Project, Scotland. Key findings include rock-grab samples yielding up to 252 g/t Au in float and 64.9 g/t Au in outcrop. Approximately 24% of the 199 rock samples exceeded 1 g/t Au, with 10% exceeding 10 g/t Au. Drainage sampling also identified new high-interest basins (Gleann Cailleach) with results up to 4.61 g/t Au. These results are significant as they confirm historic data and identify new mineralized zones beyond previously known areas.

The news is rated Routine - Positive. While the grades are exceptionally high (252 g/t Au), they are derived from rock-grab and float samples, which are selective by nature and do not represent a defined resource or continuous mineralization. This news is a follow-up to the February 2026 announcements regarding the review of historic data. It serves as a successful validation of that historic data but remains at an early exploration stage. The impact is positive as it de-risks the geological model and identifies specific targets for the upcoming backpack drilling and geophysical programs, but it is not yet a "Game Changer" without subsurface drill intercepts showing width and continuity.

Western Gold Exploration is focused on the Caledonian Gold Project in Scotland, situated in the Grampian Terrane. This belt is known for hosting significant deposits like Cononish (Scotland) and Curraghinalt (Northern Ireland). The project is divided into the Lyon and Orchy licence areas. The flagship project is currently in the early exploration/target generation phase, characterized by high-grade quartz-sulfide vein systems and polymetallic breccias.