West Point Gold closes Baxter Spring acquisition

Executive Summary

• West Point Gold Corp. completed the acquisition of a 100 % interest in the Baxter Spring project (Nevada) by purchasing Baxter Gold Corp. and its U.S. subsidiary.
• The consideration was 13.5 million West Point common shares priced at C$0.435 per share, subject to statutory and contractual hold periods through October 2027.
• Historical drilling on the property shows multiple high‑grade intercepts (e.g., 12.2 m @ 60.3 g/t Au), supporting the strategic addition of a near‑term development target in the Manhattan mining district.

Key Details

• Acquisition Structure: Share purchase agreement dated Sept. 15, 2025; acquisition announced previously on Sept. 16, 2025.
• Consideration: 13.5 million West Point common shares @ C$0.435 per share (≈ C$5.87 M). Shares are subject to a statutory hold until Feb. 3, 2026 and additional contractual lock‑ups: 25 % on Apr. 2, 2026; 25 % on Oct. 2, 2026; 25 % on Apr. 2, 2027; 25 % on Oct. 2, 2027.
• Regulatory Condition: Acquisition pending final approval of the TSX Venture Exchange.
• Project Location: Manhattan mining district, ~40 km south of Kinross’s Round Mountain mine and West Point’s Jefferson Canyon project, Nye County, Nevada.
• Historical Work: 128 drill holes (~11,000 m RC + 1,850 m core), surface geochemical & geophysical surveys.
• Key Historical Intercepts:
• 24.4 m @ 2.49 g/t Au (BS‑22, 1982)
• 12.2 m @ 60.3 g/t Au (incl. 3.0 m @ 240 g/t Au) (BS‑8, 1982)
• 27.4 m @ 1.46 g/t Au (BX‑1, 1988)
• 7.6 m @ 8.81 g/t Au (BX‑13, 1988)
• 69.0 m @ 0.71 g/t Au (BCS‑1, 1984)
• Data Sources: Private technical report by Avrom Howard (dated Nov. 30, 2023); additional data from Pilot Gold (USA).
• Qualified Person Statement: Robert Johansing, VP Exploration, NI 43‑101 qualified; notes limited verification of historical drill results but affirms they were performed to industry standards at the time.

Notable Quotes

(No direct quotes provided in the release.)