WESCAN GOLDFIELDS INC. COMPLETES THIRD AND FINAL TRANCHE OF PRIVATE PLACEMENT

Executive Summary

• Wescan Goldfields Inc. has closed the third and final tranche of its previously announced non-brokered private placement.
• The final tranche raised $110,000 at $0.22 per unit, bringing the aggregate gross proceeds for the entire offering to $2,515,532.
• Net proceeds will be utilized to fund the company's planned 2026 exploration programs and advance development across its Saskatchewan gold project portfolio.

Key Details

• Final Tranche Details: 500,000 Units issued at $0.22 per Unit, generating $110,000 in gross proceeds; no finders' fees were paid for this specific tranche.
• Aggregate Offering: Total of 11,434,237 Units issued for $2,515,532 in gross proceeds.
• Unit Structure: Each Unit comprises one Common Share and one-half Common Share purchase warrant.
• Warrant Terms: Each whole warrant entitles the holder to purchase one Common Share at an exercise price of $0.35 for a period of 24 months from issuance.
• Finders' Compensation: Aggregate finders' fees totaled $125,145, paid in cash plus 568,840 Finders' Warrants (each exercisable for one Common Share at $0.35/share for 24 months).
• Regulatory & Hold Period: All securities are subject to a statutory hold period of four months and one day; closing remains subject to final acceptance by the TSX Venture Exchange.
• Use of Proceeds: Funding for the 2026 exploration programs and advancement of the next phase of exploration across the company's Saskatchewan gold project portfolio.