Western Gold shares early Caledonian JV data

Executive Summary

• Western Gold Exploration Ltd. provided initial data on the Caledonian Gold Project joint venture with Acrux Gold Ltd., highlighting high-grade gold vein intersections in the Glen Orchy and Lyon areas based on historical exploration data.
• The JV has applied for two Crown estate mines royal option agreements (exploration licenses) covering 500 square kilometers in Glen Orchy and Lyon, with formal approval expected in the near term as the sole applicant.
• The JV has also secured an approximately 130 square kilometer surface rights agreement, providing an immediate operational footprint for early exploration activities.

Key Details

• Joint Venture Structure: Western Gold Exploration Ltd. and Acrux Gold Ltd. (owner of the Cononish gold mine) are exploring for gold, silver, and critical minerals in central Scotland. Acrux is supplying regional data sets dating back to the 1980s.
• Glen Orchy Area Historical Data:
  • Focus of historic exploration by Ennex International (1980s) and Scotgold Resources (2010s).
  • Beinn Udlaidh vein: Traced for over 2 km strike length, up to 20 meters wide.
    • Best drill/sample intercepts: 7.5 metres at 4.1 g/t Au from surface, including 0.5 m at 19.2 g/t Au.
    • Rock chip grab samples up to 73.2 g/t Au.
  • River vein: Chip grab samples greater than 100 g/t Au, with a high of 383.2 g/t Au.
• Lyon Area Historical Data:
  • Described as comparatively underexplored.
  • Coire a'Ghabhalach vein: 1.0 m at 25.5 g/t Au and 2.1 m at 15.3 g/t Au, from surface (Scotgold Resources winky drilling).
  • Creag Sheileach: 1.0 m at 25.46 g/t Au, from surface.
• Licensing and Land Rights:
  • Crown Licenses: Glen Lyon Ltd. (JV Co.) applied for two Crown estate mines royal option agreements in Glen Orchy and Lyon.
  • License Size: Totaling 500 square kilometers.
  • Status: First-come, first-served basis; JV is the sole applicant. Approval expected in the near term. Licenses cover major fault zones with polymetallic potential (gold, silver, critical metals) in a historic Pb-Zn district.
  • Surface Rights: Secured an approximately 130 square km surface rights agreement for immediate operational footprint.
• Project Location: License applications are located approximately 40 km northeast of Western Gold's Lorne Cu-Au porphyry project (Lagalochan and Ardlochan prospects).
• Qualified Person: David Pym (CGeol) supervised and verified the disclosure. Historical data was not verified by the QP but taken from public reports/ASX releases. QP verified locations of several historical winky drill sites.

Notable Quotes

• No direct quotes from management were included in the provided text.