Western Gold reviews historic data for Caledonian

Executive Summary

• Western Gold Exploration Ltd. (via its Glen Lyon JV with Acrux Gold Ltd.) has received and reviewed historic mineral exploration data for the Lyon Licence Application within the Caledonian Gold Project in central Scotland.
• The review validates the project's potential, identifying multiple high-grade gold-bearing veins and confirming the continuity of gold-bearing structures through backpack drilling.
• Significant high-grade intercepts were identified, including 1.0 m at 25.5 g/t Au and 1.0 m at 25.46 g/t Au from surface, alongside extensive high-grade rock and drainage samples.
• Approximately 150 square kilometers of the highly prospective Lyon licence area remains underexplored, offering immediate upside potential for future work.

Key Details

• Project Context: The data relates to the Lyon area covered by two Crown Estates Mines royal option agreements (exploration licences) applied for by the Glen Lyon JV.
• Drilling Results (Backpack Drilling):
  • Total: 87.8 meters over 10 holes.
  • Purpose: Confirms continuity of gold-bearing structures along strike.
  • Best Intercepts:
    • 1.0 m at 25.5 g/t Au and 2.1 m at 15.3 g/t Au, from surface (Coire a'Ghabhalach prospect).
    • 1.0 m at 25.46 g/t Au, from surface (Creag Sheileach prospect).
• Rock Sample Highlights:
  • 820 drainage, float, and outcrop samples collected.
  • Float samples grading up to 136.3 grams per tonne Au.
  • Outcrop grab samples up to 62.4 g/t Au.
  • Visible gold recorded in stream pan concentrates.
  • 101 samples graded ≥ 1 g/t Au.
  • 46 samples graded ≥ 10 g/t Au.
• Drainage Data:
  • 205 drainage samples collected (181 stream sediment, 24 panned concentrates).
  • 11 panned concentrate samples graded ≥ 0.1 g/t Au.
  • ~10% of stream sediment samples are highly anomalous in gold (≥ 0.1 g/t Au).
• Exploration Potential:
  • Historic work was concentrated in the western portion of the Lyon licence application.
  • Approximately 150 square kilometers of highly prospective ground remains underexplored.
• Future Work Plan:
  • Boots-on-the-ground exploration to verify historic high-grade outcrops.
  • Extension of work into the underexplored eastern portion of the licence application.
  • Targeted backpack drilling and channel sampling.
  • Detailed vein mapping and modern structural analysis.
  • Regional drainage sampling program with pan concentrates.
  • Large-scale soil grids to define strike extent.
  • Airborne and/or ground-based geophysics (including potential drone-mounted magnetics).
• Geological Setting:
  • Located in the Grampian terrane, part of the Caledonian mineral belt.
  • Underlain by Dalradian supergroup metasedimentary rocks.
  • Mineralization age dated at 410 to 406 Ma, coincident with transtensional tectonics.
  • Adjacent deposits include Cononish, Cavanacaw, and Curraghinalt.
• Data Quality & QA/QC:
  • Data is historical in nature.
  • Assay results have not been consistently checked against assay certificates.
  • Limited QA/QC information available; some locations field-checked, others not.
  • Results represent exploration potential and are not considered representative of true grade.
  • Analytical methods varied by provider (Ennex International, Scotgold Resources, British Geological Survey) and era (1980s vs 2010-2020).

Notable Quotes

• "These historical results validate our team's assessment of the strong potential of the Caledonian gold project, to host significant gold mineralization," commented Harry Dobson, chairman. "Building on our extensive Scottish field experience, the team is now advancing the next phase of work through systematic soil sampling, detailed mapping and geophysical surveys."