Western Exploration to begin Aura plan of operations

Executive Summary

• Western Exploration Inc. has engaged Stantec Consulting Services Inc. to prepare the Notice of Intent (NOI) and Mine Plan of Operations (MPO) for the Doby George deposit, a key asset within its 100%-owned Aura gold-silver project in Nevada.
• This engagement marks a strategic advancement toward permitting and development readiness for the Doby George deposit, leveraging Stantec’s existing role as a long-standing technical partner on the project.
• The move follows a positive Preliminary Economic Assessment (PEA) released in May 2025, which highlighted robust economic metrics for the at-surface oxide deposit.

Key Details

• Contractor Engagement: Western Exploration hired Stantec Consulting Services Inc. (Elko, Nev.) to commence work on the NOI and MPO.
• Project Scope: The work focuses on the Doby George deposit, part of the Aura project, to advance it toward permitting and development phases.
• Strategic Context: Stantec will prepare and initiate the NOI and MPO in parallel with continuing baseline environmental studies and engineering optimization activities outlined in the company's PEA.
• Economic Metrics (from referenced May 8, 2025 PEA):
  • Deposit Type: At-surface oxide deposit averaging ~1 g/t.
  • Gold Price Assumption: $3,000/oz.
  • After-Tax NPV: $211.2 million.
  • Internal Rate of Return (IRR): 62.2%.
  • Life-of-Mine Cash Flow: $271.2 million.
  • All-In Sustaining Cost (AISC): $1,197/oz.
• Project Assets: The Aura project hosts three known deposits: Doby George, Gravel Creek, and Wood Gulch.

Notable Quotes

• Darcy Marud, CEO: "Engaging Stantec represents an important milestone as we continue to advance the Aura project toward production. The merit of the Doby George asset in terms of the grade, location and robust economic metrics will position the company to deliver meaningful near-term value for our shareholders."
• Hayley Barnes, Environmental Project Manager at Stantec: "Environmental stewardship is vital to responsible resource development. We're excited to continue our work supporting Western Exploration on the Aura gold-silver project, providing strategic guidance and regulatory insight to help shape a comprehensive and sustainable plan of operations -- the foundation to all permitting and project development phases."