Latest news with #mineralresources
BBC News
7 hours ago
- Politics
- BBC News
DR Congo-Rwanda ceasefire deal still faces many challenges
Both sides of the conflict in eastern Democratic Republic of Congo have committed to disarming and disengaging their alleged proxies. But there are dozens of non-state armed groups active in the region and it's not clear whether all of them will adhere to the ceasefire. Just hours before the deal was signed, one of them, the Codeco militia, attacked a displaced persons camp in Ituri province, killing 10 people. Keeping these non-state actors in line will be a tall order. Part of the peace deal involves creating the conditions to allow the hundreds of thousands of people displaced by the conflict to return home. That won't be possible without a complete cessation of to the eastern DRC's vast mineral resources, critical to modern technology including electric car and mobile phone batteries, the economic incentives for rebel groups are incredibly tempting, and this deal does not mention alternatives which may convince these groups to stop fighting over valuable territory. Integrating them into an under-resourced Congolese armed force is unlikely to prove enough of a also still not clear what preferential access, if any, the US has been offered to the DRC's minerals. President Donald Trump has made it clear that this is one of his key incentives for agreeing to support the peace process. But granting the US unfettered access to the country's mineral wealth is unpopular with many in the DRC, upset that the country's resources have failed to provide a better life for its to the key questions of whether Rwandan forces will withdraw from eastern DRC, the US position is that once the Hutu-led FDLR, which Rwanda says is backed by the DRC and aims to overthrow the Rwandan government, is dismantled, then Rwanda will also row back on its "defensive measure". This appears to be an oblique reference to the presence of Rwandan armed forces in eastern DRC. If the US is able to convince the Rwandans to do this in earnest, it would be a big victory for Washington and Kinshasa. Rwanda has repeatedly denied its troops are on the ground in eastern DRC, despite credible reports they've actively supported groups like M23 in the region. More about the DR Congo conflict from the BBC: Congolese rebels want peaceful solution to crisis, UN saysEx-DR Congo president returns from self-imposed exile, party saysDR Congo conflict tests China's diplomatic balancing actHow DR Congo's Tutsis become foreigners in their own country'They took all the women here': Rape survivors recall horror of DR Congo jailbreak Go to for more news from the African us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica
National Post
3 days ago
- Business
- National Post
E3 Lithium Outlines an Inaugural Measured and Indicated Mineral Resource Estimate of 5.0 Mt LCE for the Garrington District
Article content CALGARY, Alberta — E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is pleased to release an updated mineral resource report for its Garrington District in central Alberta. The NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate (the 'Garrington Report') outlines an updated Measured and Indicated mineral resource estimate of 5.0 million tonnes ('Mt') of lithium carbonate equivalent ('LCE'). Article content Highlights: Article content Article content The Garrington District is located in south-central Alberta directly southwest of the city of Edmonton at the north end, and it extends southwest of Edmonton to the town of Sundre (Figure 1). Within the Garrington District, the Company's brine-hosted mineral rights cover approximately 155,236 hectares, leased from the crown, with the remaining area being unleased freehold mineral rights. The lithium concentrations on or near E3 Lithium's Land holdings range from 45 mg/L to 61 mg/L, with an average of 54mg/L. The property sits directly to the west of E3 Lithium's Bashaw District where the Company is currently developing its Clearwater Project. Similar to the Bashaw District, the Garrington District lithium brine deposit is hosted in the carbonate reef complex deposits of the Leduc Formation. Article content 'Alberta's lithium resources stand out globally as some of the most significant in size, thanks to the scale of the brine aquifers in the province,' said Chris Doornbos, President and CEO of E3 Lithium. 'The resource update in the Garrington District highlights a separate region containing vast volumes of lithium-enriched brines to the west of our existing Bashaw District resources. E3 Lithium continues to focus our efforts on the development of the Clearwater Project and the additional Garrington resources expand our sizable inventory for long-term value creation.' Article content The disclosure in this news release of scientific and technical information pertaining to the Garrington District has been reviewed and approved by Meghan Klein, Head of Reservoir Engineering, Americas of Sproule ERCE, and Alexey Romanov, PhD., Principal Geoscientist of Sproule ERCE. Both Ms. Klein, and Mr. Romanov are 'Qualified Person's' as defined under NI 43-101– Standards of Disclosure for Mineral Projects. Article content Garrington District Brine Resource Estimate Article content The Garrington Report follows from the NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, which included a small subsection of the area encompassed in the Garrington Report. The Garrington mineral resource estimate has been calculated across the Garrington Lithium District and was developed as outlined below. First, data compilation and review of existing reports within the Garrington Lithium District were conducted. Then, a reservoir depositional framework was developed based on core descriptions and lithofacies analysis. Thirdly, petrophysical modeling on geophysical wireline logs, validated against core analysis where possible, was performed. Finally, geological models were generated and leveraged for reservoir volume calculations. Article content The updated mineral resource estimate for the Garrington District is summarized in the table below. The mineral resource estimate is categorized as Measured, Indicated, and Inferred depending on geological confidence. Article content Table 1: E3 Lithium's Garrington District Brine Resource Estimates Article content 1. The Intervals reported follow the following definitions: Measured – evidence is sufficient to confirm geological, and grade or quality continuity between points of observation; Indicated – evidence is sufficient to assume geological, and grade or quality continuity between points of observation and Inferred – evidence is sufficient to imply but not verify geological, grade or quality continuity. 2. Based on LCE tonnage. 3. Brine Resource estimates are inclusive of unleased freehold mineral rights. Article content The mineral resource estimate was completed by a multi-disciplinary team led by E3 Lithium and supervised by Meghan Klein and Alexey Romanov of Sproule ERCE, acting as Qualified Persons using volumetric analysis based on geological parameters of reservoir geometry, effective porosity, permeability, and dissolved lithium concentrations. The mineral resource estimate benefited from a considerable amount of data compiled by the oil and gas industry and made public by the Government of Alberta. Key data sets used to determine reservoir brine parameters in the resource area include core plug analyses (porosity and permeability), and wireline logs geological and petrophysical interpretation (stratigraphic tops, lithology, volume of shale, and porosity). Article content To calculate the brine volume for each zone within the Leduc Formation, the brine volume was exported from the geological model, incorporating three district brine saturations. The brine volume is multiplied by the lithium grade to calculate the Original Lithium in Place (OLIP) in tonnes of elemental lithium and in tonnes of lithium carbonate equivalent. Article content Resource categorization reflects the confidence in both the data sets and the interpretations. Measured resources exist within the conceptual development area and are restricted to volumes exceeding a 6% porosity cut-off within a single connected geobody volume with lithium grade measurements. Indicated resources exist across the Garrington District and are restricted to volumes exceeding a 2% porosity cut-off within a single connected geobody with lithium grade measurements. Inferred resources make up all geobody volumes above the 2% porosity cut-off. Article content With the updated Garrington Resource Estimate, E3 Lithium's total Measured and Indicated lithium resources in Western Canada are now in excess of 21 Mt LCE with an additional 2.9 Mt of Inferred resources. Included in this number is approximately 1.13 Mt of Proven and Probable mineral reserves in the Bashaw District that provide the basis for the Clearwater Project currently under development and outlined in the Pre-Feasibility Study published in July 2024. Article content Table 2: E3 Lithium's Total Lithium Brine Reserves and Brine Resources Article content 1. Brine Resources are reported using the 2014 CIM definition standards, and are inclusive of those Brine Resources converted to Brine Reserves. Brine Resource estimates are inclusive of unleased freehold mineral rights. Article content ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, President & CEO E3 Lithium Ltd. About E3 Lithium Article content E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources 2 in Alberta and 2.5 Mt LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. Article content 1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium's website ( Article content Article content ) and SEDAR+ ( Article content Article content ). Article content 2: The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate, effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and will be available on the E3 Lithium's website ( Article content Article content ) and SEDAR+ ( Article content Article content ) within 45 days of this news release. Article content 3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium's website ( Article content Article content ). Article content Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained on this news release. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as 'believe', 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend', 'project', 'potential', 'possible', 'could' and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the Garrington Report, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the mineral resource estimate at the Garrington District; timing of the availability and filing of the Garrington Report; the potential for future development and inventory expansion of the Clearwater Project and value creation; and the anticipated benefits of the foregoing. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that the Garrington Report will be delivered on the expected timeline and will not contain any material variations to the information contained in this news release; that activities relating to the Garrison District and the Company's other projects will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; ; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Garrington District will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium; that the results of the mineral resource estimate will be delivered in a timely manner consistent with the Company's projected timelines; and that the results will be in line with management's expectations. Article content All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; risks related to the results of the testing program not being in delivered in a timely manner and/or not being in line with management's expectations; competitive risks and the availability of financing, as described in more Article content detail in our recent securities filings available under the Company's profile on SEDAR+ at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. Article content Article content Article content Article content Rob Knowles Article content Article content Article content investor@ Article content Article content 587-324-2775 Article content E3 Lithium – Media Inquiries Article content Article content Kati Dolyniuk Article content Article content Article content Article content
Yahoo
3 days ago
- Business
- Yahoo
E3 Lithium Outlines an Inaugural Measured and Indicated Mineral Resource Estimate of 5.0 Mt LCE for the Garrington District
CALGARY, Alberta, June 25, 2025--(BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), "E3 Lithium" or the "Company," a leader in Canadian lithium, is pleased to release an updated mineral resource report for its Garrington District in central Alberta. The NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate (the "Garrington Report") outlines an updated Measured and Indicated mineral resource estimate of 5.0 million tonnes ("Mt") of lithium carbonate equivalent ("LCE"). Highlights: The Garrington District includes 273,449 hectares of land Measured and Indicated mineral resource estimate of 5.0 Mt LCE Inferred mineral resource estimate of 0.3 Mt LCE E3 Lithium's total Measured and Indicated mineral resources in Alberta is now 21.2 Mt LCE The Garrington District is located in south-central Alberta directly southwest of the city of Edmonton at the north end, and it extends southwest of Edmonton to the town of Sundre (Figure 1). Within the Garrington District, the Company's brine-hosted mineral rights cover approximately 155,236 hectares, leased from the crown, with the remaining area being unleased freehold mineral rights. The lithium concentrations on or near E3 Lithium's Land holdings range from 45 mg/L to 61 mg/L, with an average of 54mg/L. The property sits directly to the west of E3 Lithium's Bashaw District where the Company is currently developing its Clearwater Project. Similar to the Bashaw District, the Garrington District lithium brine deposit is hosted in the carbonate reef complex deposits of the Leduc Formation. "Alberta's lithium resources stand out globally as some of the most significant in size, thanks to the scale of the brine aquifers in the province," said Chris Doornbos, President and CEO of E3 Lithium. "The resource update in the Garrington District highlights a separate region containing vast volumes of lithium-enriched brines to the west of our existing Bashaw District resources. E3 Lithium continues to focus our efforts on the development of the Clearwater Project and the additional Garrington resources expand our sizable inventory for long-term value creation." The disclosure in this news release of scientific and technical information pertaining to the Garrington District has been reviewed and approved by Meghan Klein, Head of Reservoir Engineering, Americas of Sproule ERCE, and Alexey Romanov, PhD., Principal Geoscientist of Sproule ERCE. Both Ms. Klein, and Mr. Romanov are "Qualified Person's" as defined under NI 43-101– Standards of Disclosure for Mineral Projects. The technical report will be available on the Company's website ( and SEDAR ( within 45 days of this announcement. Garrington District Brine Resource EstimateThe Garrington Report follows from the NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, which included a small subsection of the area encompassed in the Garrington Report. The Garrington mineral resource estimate has been calculated across the Garrington Lithium District and was developed as outlined below. First, data compilation and review of existing reports within the Garrington Lithium District were conducted. Then, a reservoir depositional framework was developed based on core descriptions and lithofacies analysis. Thirdly, petrophysical modeling on geophysical wireline logs, validated against core analysis where possible, was performed. Finally, geological models were generated and leveraged for reservoir volume calculations. The updated mineral resource estimate for the Garrington District is summarized in the table below. The mineral resource estimate is categorized as Measured, Indicated, and Inferred depending on geological confidence. Table 1: E3 Lithium's Garrington District Brine Resource Estimates Resource Category1 Brine Volume (m3) Weighted Average Li Grade (mg/L)2 OLIP (t Li)3 OLIP (t LCE) 3 Measured 560,000,000 55 30,000 163,000 Indicated 17,005,000,000 54 905,000 4,817,000 Total Measured & Indicated 17,565,000 54 935,000 4,980,000 Inferred 1,485,000,000 42 60,000 319,000 1. The Intervals reported follow the following definitions: Measured - evidence is sufficient to confirm geological, and grade or quality continuity between points of observation; Indicated - evidence is sufficient to assume geological, and grade or quality continuity between points of observation and Inferred - evidence is sufficient to imply but not verify geological, grade or quality continuity. 2. Based on LCE tonnage. 3. Brine Resource estimates are inclusive of unleased freehold mineral rights. The mineral resource estimate was completed by a multi-disciplinary team led by E3 Lithium and supervised by Meghan Klein and Alexey Romanov of Sproule ERCE, acting as Qualified Persons using volumetric analysis based on geological parameters of reservoir geometry, effective porosity, permeability, and dissolved lithium concentrations. The mineral resource estimate benefited from a considerable amount of data compiled by the oil and gas industry and made public by the Government of Alberta. Key data sets used to determine reservoir brine parameters in the resource area include core plug analyses (porosity and permeability), and wireline logs geological and petrophysical interpretation (stratigraphic tops, lithology, volume of shale, and porosity). To calculate the brine volume for each zone within the Leduc Formation, the brine volume was exported from the geological model, incorporating three district brine saturations. The brine volume is multiplied by the lithium grade to calculate the Original Lithium in Place (OLIP) in tonnes of elemental lithium and in tonnes of lithium carbonate equivalent. Resource categorization reflects the confidence in both the data sets and the interpretations. Measured resources exist within the conceptual development area and are restricted to volumes exceeding a 6% porosity cut-off within a single connected geobody volume with lithium grade measurements. Indicated resources exist across the Garrington District and are restricted to volumes exceeding a 2% porosity cut-off within a single connected geobody with lithium grade measurements. Inferred resources make up all geobody volumes above the 2% porosity cut-off. With the updated Garrington Resource Estimate, E3 Lithium's total Measured and Indicated lithium resources in Western Canada are now in excess of 21 Mt LCE with an additional 2.9 Mt of Inferred resources. Included in this number is approximately 1.13 Mt of Proven and Probable mineral reserves in the Bashaw District that provide the basis for the Clearwater Project currently under development and outlined in the Pre-Feasibility Study published in July 2024. Table 2: E3 Lithium's Total Lithium Brine Reserves and Brine Resources Lithium Carbonate Equivalent (tonnes) Average Lithium Grade (mg/L) Brine Reserves Brine Resources1 District (Province) Proven & Probable Measured Indicated Measured & Indicated Inferred Measured & Indicated Inferred Bashaw (AB) 1,137,850 6,687,200 9,530,900 16,218,100 N/A 75 N/A Garrington (AB) N/A 163,000 4,817,000 4,980,000 319,000 54 42 Estevan (SK) N/A N/A N/A N/A 2,545,000 N/A 98 Total 1,137,850 6,850,200 14,347,900 21,198,100 2,864,000 1. Brine Resources are reported using the 2014 CIM definition standards, and are inclusive of those Brine Resources converted to Brine Reserves. Brine Resource estimates are inclusive of unleased freehold mineral rights. ON BEHALF OF THE BOARD OF DIRECTORSChris Doornbos, President & CEOE3 Lithium Ltd. About E3 Lithium E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources2 in Alberta and 2.5 Mt LCE Inferred mineral resources3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR1. 1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium's website ( and SEDAR+ ( 2: The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate, effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and will be available on the E3 Lithium's website ( and SEDAR+ ( within 45 days of this news release. 3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium's website ( and SEDAR+ ( Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained on this news release. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as "believe", "may", "will", "plan", "expect", "anticipate", "estimate", "intend", "project", "potential", "possible", "could" and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the Garrington Report, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the mineral resource estimate at the Garrington District; timing of the availability and filing of the Garrington Report; the potential for future development and inventory expansion of the Clearwater Project and value creation; and the anticipated benefits of the foregoing. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that the Garrington Report will be delivered on the expected timeline and will not contain any material variations to the information contained in this news release; that activities relating to the Garrison District and the Company's other projects will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; ; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Garrington District will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium; that the results of the mineral resource estimate will be delivered in a timely manner consistent with the Company's projected timelines; and that the results will be in line with management's expectations. All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; risks related to the results of the testing program not being in delivered in a timely manner and/or not being in line with management's expectations; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company's profile on SEDAR+ at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. View source version on Contacts E3 Lithium - Investor and Media Relations Rob KnowlesInvestor Relationsinvestor@ 587-324-2775 E3 Lithium - Media Inquiries Kati DolyniukExternal Relationscommunications@ 587-324-2775
Globe and Mail
5 days ago
- Business
- Globe and Mail
Western Exploration Announces a 54% Increase in Inferred Gravel Creek Gold Equivalent Mineral Resources
83% Increase in Silver ounces attributable to Jarbidge Discovery Reno, Nevada--(Newsfile Corp. - June 23, 2025) - Western Exploration Inc. (TSXV: WEX) (OTCQX: WEXPF) (the " Company" or " Western Exploration") is pleased to report an updated mineral resource estimate (the " MRE"), prepared in accordance with National Instrument 43-101 (" NI 43-101"), for its Gravel Creek and Wood Gulch deposits, which are part of its, 100% owned Aura Project, located 120 kilometers north of Elko, Nevada. Highlights of the updated MRE include: A significant increase in grades and ounces, at a 3.0g AuEq/t cutoff *, in the inferred mineral resource category, reflecting the positive contribution from the high-grade vein discovery hosted in Jarbidge rhyolite east of Gravel Creek. Increased ounces of gold in the inferred mineral resource category from 367,000 oz/Au to 571,000 oz/Au, representing a 56%* increase in ounces of gold and a 9% increase in grade of gold. Increased ounces of silver in the inferred mineral resource category from 5,307,000 oz/Ag to 9,726,000 oz/Ag, representing an 83%* increase in ounces of silver and a 28%* increase in grade of silver. Indicated gold equivalent grade and ounces, reported at a 3.0 g Aueq/t cutoff, remained relatively constant between 2021 and 2025 with 216,000 ounces Au and 3,367,000 ounces Ag being reported in the current MRE. Watch the CEO news summary HERE Cannot view this video? Visit: "The updated MRE at Gravel Creek-Wood Gulch validates our exploration model and reinforces two years of drilling success," said Darcy Marud, CEO and President of Western Exploration. "Our revised geologic models highlight new exploration opportunities along the GC Fault at Gravel Creek and the potential to expand high-grade veins in the Jarbidge rhyolite. This update reinforces our strategy and underscores Western Exploration's momentum in growing the resource footprint. "While Wood Gulch remains the focus of our 2025 exploration program, the significant increase at Gravel Creek supports a more extensive drill program aimed at additional resource growth. The strength of this updated resource, combined with favorable market conditions for both gold and silver, positions us to deliver shareholder value in the near term." Join Darcy for a live webinar on Thursday, June 26, at 1 pm PT where he will discuss key highlights from the Mineral Resource Estimate news release. Please Register here. The MRE was prepared by RESPEC Company LLC (" RESPEC"), based in Reno, Nevada. A technical report is being prepared in accordance with NI 43-101 (the " Technical Report"), which will include the results of the updated MRE described in this news release and the preliminary economic assessment for Doby George, as described in the news release of the Company dated May 8, 2025 (entitled "Western Exploration Announces Positive Preliminary Economic Assessment for the Doby George Resource at the Aura Project") (the " PEA News Release"). The Technical Report will be filed within 45 days of the PEA News Release. Significance of Results The significant expansion of the inferred mineral estimate at the Gravel Creek deposit demonstrates that the Company has executed on its strategic initiative to expand the mineralized footprint. The MRE is based on 96 drill holes exhibiting a remarkable success rate in drilling, which management expects could translate into additional resource expansion with continued drilling and exploration activities. Table 1: Resource Comparison Note: Table 1: Resource Comparison contains a comparison of indicated and inferred mineral resource estimates between 2021 and 2025, describing the updated MRE at 3.0 g AuEq/t cut-off grade and the prior mineral resource estimates in the Prior Report (which applied a 2.0g AuEq/t cutoff grade) at a 3.0g AuEq/t cutoff grade contained in a sensitivity table in the Prior Report. The current resource increase is attributed primarily to the 2023-2024 high-grade vein discovery in the Jarbidge rhyolite hanging wall zone east of Gravel Creek, and the positive impact of a revised geologic and structural model. At Jarbidge, initial geologic and resource modelling has demonstrated remarkable continuity for an area that has currently only been tested by 19 diamond drill holes. The new zone contributed approximately half of the gold ounces and a majority of the silver ounces in the inferred mineral resource category, representing significant increases in the updated MRE. The mineral resource estimate applied the same methodology at Gravel Creek, including 4-meter estimation block sizes. Additional drilling will be required to provide better definition of the high-grade veins and upgrade resource classification. The new Gravel Creek geologic/structural model shows that mineralization is controlled by the northwest-trending GC Fault, with Au-Ag mineralization along the Paleozoic-Eocene unconformity and in favorable volcanic host lithologies. The model displays better continuity of mineralization and highlights significant potential for resource expansion along the strike. In combination with the prospective target along 3.0 km of the Tomasina Fault zone (see the news release of the Company dated February 24, 2025 entitled "Western Exploration Expands Exploration Footprint at Gravel Creek with 3.0 Km Untested Structural Corridor at the Past Producing Wood Gulch Mine"), Western Exploration now has three high priority targets to pursue that have potential to increase the Gravel Creek-Wood Gulch resource significantly. Drilling of the Tomasina target is scheduled to begin in late July or early August of 2025. Figure 1. View looking N-NW showing comparative dimensions of the +2.0 g/t AuEq grade shells for the Gravel Creek and Jarbidge resource areas. Gravel Creek Resource shows dominant control by the N45W, 70NE GC Fault system, with shallower mineralization reflecting stratigraphic control within the Eocene Frost Creek tuff. Mineralization within the Jarbidge Discovery Zone reflects control of dominantly N-S trending, moderately west dipping vein/stockwork/breccia zones. To view an enhanced version of this graphic, please visit: Table 2: Updated Mineral Resource Estimate MINERAL RESOURCE ESTIMATE (1,6) Indicated Inferred Tonnes Au (g/t) Au (ozs) Ag (g/t) Ag (ozs) AuEq (g/t) AuEq (oz) Tonnes Au (g/t) Au (ozs) Ag (g/t) Ag (ozs) AuEq (g/t) AuEq (oz.) Gravel Creek (4) 1,331,000 5.04 216,000 78.7 3,367,000 5.95 254.000 3,933,000 4.52 571,000 76.9 9,726,000 5.39 683,000 Wood Gulch (5) - - - - - - - 2,741,000 0.75 66,000 6.2 545,000 0.82 73,000 Doby George (8) 13,662,000 0.90 394,000 - - 0.90 394,000 3,270,000 0.68 71,000 - - 0.68 71,000 TOTAL 14,993,000 1.27 610,000 7.0 3,367,000 1.35 648,000 9,944,000 2.22 708,000 32.1 10,271,000 2.58 827,000 Note: Table 2: Updated Mineral Resource Estimate contains the mineral resource estimates for the Aura Project expected to be included in the Technical Report. Notes: The effective date of the Wood Gulch-Gravel Creek mineral resource estimate is May 27, 2025. In-situ mineral resources are classified in accordance with CIM Definition Standards for Mineral Resources & Mineral Reserves prepared by the CIM Standing Committee on Reserve Definitions. The average grades of the tabulations are comprised of the weighted average of block-diluted grades within the underground shells and optimized pits. The Gravel Creek MRE is reported using a cut-off grade of 3.0g AuEq/t. Gold equivalent values were calculated using metal prices of US$2,025 per oz for gold and US$24 per oz for silver, and metallurgical recoveries of 95% for gold and 92% for silver. The AuEq calculation accounts for metal prices and recoveries only. The 3.0g AuEq/t cut-off grade was applied to constrain the reported mineral resource estimates to material with reasonable prospects for economic extraction. The Au cut-off grade for Wood Gulch Mineral Resources is based on an Au price of US$2,150/oz, an average recovery of 66% Au, a processing rate of 7,500 tonnes per day and cost assumptions including: US$3.02/t mining cost for open-pit mining; US$6.52/t processing cost; US$1.89/t processed G&A cost; and US$5.00/oz Au refining cost. The effective date of the Doby George mineral resource estimate is January 27, 2025. The project mineral resources are comprised of all model blocks at a cutoff grade of 0.17 g Au/t for all material within optimized pits. The gold cutoff grade for Doby George mineral resource estimate is based on an gold price of US$2,150/oz, an average recovery of 66% Au, a processing rate of 7,500 tonnes per day, and cost assumptions including: US$3.02/t mining cost for open-pit mining; US$6.52/t processing cost; US$1.89/t processed G&A cost, and US$5.00/oz Au refining cost. An average royalty of 3% has also been applied to cutoff grade determination. The mineral resource estimates described herein may be materially affected by geology, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. There are no known factors related to metallurgical, environmental, permitting, legal, title, taxation, socio-economic, marketing or political issues which could materially affect the mineral resource estimate described in this news release. Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grade, and contained metal content. Mineral resources are not mineral reserves and do not have demonstrated economic viability. An inferred mineral resource estimate has a lower level of confidence than an indicated mineral resource estimate, and has not been converted into a mineral reserve. It is reasonably expected that a majority of the inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. 2025 Exploration Plan Exploration will continue in 2025 with an approximate 4,000 meter drill program focused on the Tomasina Fault Zone at Wood Gulch. Wood Gulch is a former producing open pit mine and geological reinterpretation based on prior drill results has reprioritized Wood Gulch as a highly prospective target. While Wood Gulch is the focus of Western Exploration's 2025 exploration program, the significant resource increase at Gravel Creek (as described in this news release) supports a more extensive drill program aimed at infill drilling and resource expansion. In addition, the Company will continue to de-risk the project through project refinement, both in terms of potential processing and cost parameters, continued geotechnical work, ongoing environmental studies, and permit planning. MRE Methodology The Wood Gulch-Gravel Creek mineral resource estimate includes the Gravel Creek, Saddle, and Southeast deposits. RESPEC modeled and estimated gold and silver mineral resources as follows: Constraining Gravel Creek low-, mid-, and high-grade gold and silver mineral domains were modeled on 50 meter-spaced vertical sections and transposed to long sections centered at mid-block locations. The Gravel Creek geological model and other relevant geological data were used to guide the modeling of mineral domains. A block model — with 4m by 4m by 4m blocks — was coded with the gold and silver domains using the long section interpretations. Drill-hole assays were composited to a 3 meter length, honoring the mineralized gold domains. Gold and silver grades were interpolated into the block model using the mineral domains to explicitly constrain grade estimations. RESPEC utilized Inverse Distance Cubed (ID 3) and Quadrupled (ID 4) interpolations for a two-pass estimation. The first pass used a maximum search distance of 400 meters and applied ID 3 interpolation to all domains. The second pass applied ID 3 interpolation to the low- and mid-grade domains and ID 4 interpolation to the high-grade domain to a maximum search distance of 80 meters. Individual domain grades were weighted-averaged to produce fully block-diluted reported mineral resources. The Doby George MRE includes the West Ridge, Daylight, and Twilight deposits. RESPEC modeled the mineral resource estimate for gold as follows: Constraining gold mineral domains of low- and high-grade mineralization were modeled on 30 meter spaced vertical sections and transposed to long sections centered at 6 meter mid-block locations. The Doby George geological model and other relevant geological data were used to guide the modeling of mineral domains. A block model — with 6m by 6m by 6m blocks — was coded with the gold domains using the 6 meter spaced long section interpretations. Drill-hole assays were composited to a 3 meter length, honoring the mineralized gold domains. Gold grades were interpolated into the block model using gold mineral domains to explicitly constrain grade estimations. RESPEC utilized Inverse Distance Cubed (ID 3) and Quadrupled (ID 4) interpolations for the estimation, achieving a localizing effect in the high-grade domain, and applied ID 3 interpolation to the low-grade domain estimate. Individual domain grades were weight averaged to produce fully block-diluted reported mineral resources. Quality Assurance — Quality Control Drill program design, Quality Assurance/Quality Control (" QA/QC") and the interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Technical Information The MRE was prepared for Western Exploration by Mr. Michael S. Lindholm, C.P.G. of RESPEC in Reno, Nevada, who is a qualified person for purposes of NI 43-101 and independent of Western Exploration as defined in Section 1.5 of NI 43-101. The scientific and technical information in this news release has been reviewed and approved by Mr. Michael S. Lindholm, C.P.G. of RESPEC. For readers to fully understand the information in this news release, reference should be made to the full text of the Technical Report, once filed, including all assumptions, qualifications and limitations therein. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. About Western Exploration Western Exploration is focused on advancing the 100% owned Aura Project, located approximately 120 kilometers/75 miles north of the city of Elko, Nevada. The Aura Project includes three unique gold and silver deposits: Doby George, Gravel Creek, and Wood Gulch. Western Exploration is comprised of an experienced team of precious metals experts that aim to lead the company to becoming North America's premiere gold and silver development company. Additional information regarding Western Exploration can be found on Western Exploration's corporate website ( and on SEDAR+ ( under Western Exploration's issuer profile. Cautionary Statements Regarding Estimates of Mineral Resources This news release uses the terms measured, indicated, and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimate disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. The mineral resource estimate is classified in accordance with CIM Definition Standards for Mineral Resources & Mineral Reserves prepared by the CIM Standing Committee on Reserve Definition, which is incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. On October 31, 2018, the SEC adopted new mining disclosure rules (" S-K 1300") that are more closely aligned with current industry and global regulatory practices and standards, including NI 43-101, although there are some differences in the two standards. Accordingly, information concerning mineral deposits contain in this release may not be comparable with information made public by U.S. companies that report in accordance with S-K 1300. Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" within the meaning of the applicable Canadian and United States securities legislation (collectively, " forward-looking statements"). These forward-looking statements, by their nature, require the Company to make certain assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the significance of the results of the MRE; the Technical Report being filed within 45 days of May 8, 2025 (if at all) supporting the results of the MRE described in this news release; the ability of exploration activities, including drilling, to accurately predict mineralization; management's expectations on the grade and extension of mineralization; the accuracy of results from prior exploration activities conducted at the Aura Project; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Doby George, Gravel Creek and Wood Gulch mineral deposits; and the schedule of further drilling and exploration activities. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management's geological modelling; the ability of Western Exploration to complete further exploration activities, including drilling; the uncertain nature of exploration activities; property and royalty interests in respect of the Aura Project; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Western Exploration cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Western Exploration nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Western Exploration does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements and forward-looking information made in this news release concerning Western Exploration, please refer to the continuous disclosure record of Western Exploration on SEDAR+ ( under Western Exploration's issuer profile. The forward-looking statements set forth herein concerning Western Exploration reflect management's expectations as at the date of this news release and are subject to change after such date. Western Exploration disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
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Western Exploration Announces a 54% Increase in Inferred Gravel Creek Gold Equivalent Mineral Resources
83% Increase in Silver ounces attributable to Jarbidge Discovery Reno, Nevada--(Newsfile Corp. - June 23, 2025) - Western Exploration Inc. (TSXV: WEX) (OTCQX: WEXPF) (the "Company" or "Western Exploration") is pleased to report an updated mineral resource estimate (the "MRE"), prepared in accordance with National Instrument 43-101 ("NI 43-101"), for its Gravel Creek and Wood Gulch deposits, which are part of its, 100% owned Aura Project, located 120 kilometers north of Elko, Nevada. Highlights of the updated MRE include: A significant increase in grades and ounces, at a 3.0g AuEq/t cutoff*, in the inferred mineral resource category, reflecting the positive contribution from the high-grade vein discovery hosted in Jarbidge rhyolite east of Gravel Creek. Increased ounces of gold in the inferred mineral resource category from 367,000 oz/Au to 571,000 oz/Au, representing a 56%* increase in ounces of gold and a 9% increase in grade of gold. Increased ounces of silver in the inferred mineral resource category from 5,307,000 oz/Ag to 9,726,000 oz/Ag, representing an 83%* increase in ounces of silver and a 28%* increase in grade of silver. Indicated gold equivalent grade and ounces, reported at a 3.0 g Aueq/t cutoff, remained relatively constant between 2021 and 2025 with 216,000 ounces Au and 3,367,000 ounces Ag being reported in the current MRE. Watch the CEO news summary HERE Cannot view this video? Visit: "The updated MRE at Gravel Creek-Wood Gulch validates our exploration model and reinforces two years of drilling success," said Darcy Marud, CEO and President of Western Exploration. "Our revised geologic models highlight new exploration opportunities along the GC Fault at Gravel Creek and the potential to expand high-grade veins in the Jarbidge rhyolite. This update reinforces our strategy and underscores Western Exploration's momentum in growing the resource footprint. "While Wood Gulch remains the focus of our 2025 exploration program, the significant increase at Gravel Creek supports a more extensive drill program aimed at additional resource growth. The strength of this updated resource, combined with favorable market conditions for both gold and silver, positions us to deliver shareholder value in the near term." Join Darcy for a live webinar on Thursday, June 26, at 1 pm PT where he will discuss key highlights from the Mineral Resource Estimate news release. Please Register here. The MRE was prepared by RESPEC Company LLC ("RESPEC"), based in Reno, Nevada. A technical report is being prepared in accordance with NI 43-101 (the "Technical Report"), which will include the results of the updated MRE described in this news release and the preliminary economic assessment for Doby George, as described in the news release of the Company dated May 8, 2025 (entitled "Western Exploration Announces Positive Preliminary Economic Assessment for the Doby George Resource at the Aura Project") (the "PEA News Release"). The Technical Report will be filed within 45 days of the PEA News Release. Significance of Results The significant expansion of the inferred mineral estimate at the Gravel Creek deposit demonstrates that the Company has executed on its strategic initiative to expand the mineralized footprint. The MRE is based on 96 drill holes exhibiting a remarkable success rate in drilling, which management expects could translate into additional resource expansion with continued drilling and exploration activities. Table 1: Resource Comparison Indicated - Gravel Creek 2025 2025 vs 2021 Indicated - Gravel Creek 2021 CutoffAuEqg/t Tonnes Au(g/t) Au(ozs) Ag(g/t) Ag(ozs) AuEq(g/t) AuEq(ozs) Tonnes Au(g/t) Au(ozs) Ag(g/t) Ag(ozs) AuEq(g/t) AuEq(ozs) CutoffAuEqg/t Tonnes Au(g/t) Au(ozs) Ag(g/t) Ag (ozs) AuEq(g/t) AuEq(ozs)2.0 2,079,000 3.72 249,000 59.6 3,986,000 4.58 306,000 3.0 1,331,000 5.04 216,000 78.7 3,367,000 5.95 254,000 1% 7% 8% 5% 6% 2% 4% 3.0 1,315,000 4.73 200,000 75.0 3,169,000 5.81 245,000Inferred - Gravel Creek 2025 2025 vs 2021 Inferred - Gravel Creek 2021 CutoffAuEqg/t Tonnes Au(g/t) Au (ozs) Ag(g/t) Ag(ozs) AuEq(g/t) AuEq(ozs) Tonnes Au(g/t) Au(ozs) Ag (g/t) Ag(ozs) AuEq(g/t) AuEq(ozs) CutoffAuEqg/t Tonnes Au(g/t) Au(ozs) Ag(g/t) Ag (ozs) AuEq(g/t) AuEq(ozs)2.0 5,394,000 3.12 540,000 45.5 7,897,000 3.77 653,000 3.0 3,933,000 4.52 571,000 76.9 9,726,000 5.39 683,000 43% 9% 56% 28% 83% 7% 54% 3.0 2,744,000 4.16 367,000 60.2 5,307,000 5.02 443,000 Note: Table 1: Resource Comparison contains a comparison of indicated and inferred mineral resource estimates between 2021 and 2025, describing the updated MRE at 3.0 g AuEq/t cut-off grade and the prior mineral resource estimates in the Prior Report (which applied a 2.0g AuEq/t cutoff grade) at a 3.0g AuEq/t cutoff grade contained in a sensitivity table in the Prior Report. The current resource increase is attributed primarily to the 2023-2024 high-grade vein discovery in the Jarbidge rhyolite hanging wall zone east of Gravel Creek, and the positive impact of a revised geologic and structural model. At Jarbidge, initial geologic and resource modelling has demonstrated remarkable continuity for an area that has currently only been tested by 19 diamond drill holes. The new zone contributed approximately half of the gold ounces and a majority of the silver ounces in the inferred mineral resource category, representing significant increases in the updated MRE. The mineral resource estimate applied the same methodology at Gravel Creek, including 4-meter estimation block sizes. Additional drilling will be required to provide better definition of the high-grade veins and upgrade resource classification. The new Gravel Creek geologic/structural model shows that mineralization is controlled by the northwest-trending GC Fault, with Au-Ag mineralization along the Paleozoic-Eocene unconformity and in favorable volcanic host lithologies. The model displays better continuity of mineralization and highlights significant potential for resource expansion along the strike. In combination with the prospective target along 3.0 km of the Tomasina Fault zone (see the news release of the Company dated February 24, 2025 entitled "Western Exploration Expands Exploration Footprint at Gravel Creek with 3.0 Km Untested Structural Corridor at the Past Producing Wood Gulch Mine"), Western Exploration now has three high priority targets to pursue that have potential to increase the Gravel Creek-Wood Gulch resource significantly. Drilling of the Tomasina target is scheduled to begin in late July or early August of 2025. Figure 1. View looking N-NW showing comparative dimensions of the +2.0 g/t AuEq grade shells for the Gravel Creek and Jarbidge resource areas. Gravel Creek Resource shows dominant control by the N45W, 70NE GC Fault system, with shallower mineralization reflecting stratigraphic control within the Eocene Frost Creek tuff. Mineralization within the Jarbidge Discovery Zone reflects control of dominantly N-S trending, moderately west dipping vein/stockwork/breccia zones. To view an enhanced version of this graphic, please visit: Table 2: Updated Mineral Resource Estimate MINERAL RESOURCE ESTIMATE(1,6) Indicated InferredTonnes Au(g/t) Au (ozs) Ag (g/t) Ag(ozs) AuEq(g/t) AuEq (oz) Tonnes Au(g/t) Au(ozs) Ag (g/t) Ag (ozs) AuEq(g/t) AuEq(oz.) Gravel Creek(4) 1,331,000 5.04 216,000 78.7 3,367,000 5.95 254.000 3,933,000 4.52 571,000 76.9 9,726,000 5.39 683,000 Wood Gulch(5) - - - - - - - 2,741,000 0.75 66,000 6.2 545,000 0.82 73,000 Doby George (8) 13,662,000 0.90 394,000 - - 0.90 394,000 3,270,000 0.68 71,000 - - 0.68 71,000 TOTAL 14,993,000 1.27 610,000 7.0 3,367,000 1.35 648,000 9,944,000 2.22 708,000 32.1 10,271,000 2.58 827,000 Note: Table 2: Updated Mineral Resource Estimate contains the mineral resource estimates for the Aura Project expected to be included in the Technical Report. Notes: The effective date of the Wood Gulch-Gravel Creek mineral resource estimate is May 27, 2025. In-situ mineral resources are classified in accordance with CIM Definition Standards for Mineral Resources & Mineral Reserves prepared by the CIM Standing Committee on Reserve Definitions. The average grades of the tabulations are comprised of the weighted average of block-diluted grades within the underground shells and optimized pits. The Gravel Creek MRE is reported using a cut-off grade of 3.0g AuEq/t. Gold equivalent values were calculated using metal prices of US$2,025 per oz for gold and US$24 per oz for silver, and metallurgical recoveries of 95% for gold and 92% for silver. The AuEq calculation accounts for metal prices and recoveries only. The 3.0g AuEq/t cut-off grade was applied to constrain the reported mineral resource estimates to material with reasonable prospects for economic extraction. The Au cut-off grade for Wood Gulch Mineral Resources is based on an Au price of US$2,150/oz, an average recovery of 66% Au, a processing rate of 7,500 tonnes per day and cost assumptions including: US$3.02/t mining cost for open-pit mining; US$6.52/t processing cost; US$1.89/t processed G&A cost; and US$5.00/oz Au refining cost. The effective date of the Doby George mineral resource estimate is January 27, 2025. The project mineral resources are comprised of all model blocks at a cutoff grade of 0.17 g Au/t for all material within optimized pits. The gold cutoff grade for Doby George mineral resource estimate is based on an gold price of US$2,150/oz, an average recovery of 66% Au, a processing rate of 7,500 tonnes per day, and cost assumptions including: US$3.02/t mining cost for open-pit mining; US$6.52/t processing cost; US$1.89/t processed G&A cost, and US$5.00/oz Au refining cost. An average royalty of 3% has also been applied to cutoff grade determination. The mineral resource estimates described herein may be materially affected by geology, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. There are no known factors related to metallurgical, environmental, permitting, legal, title, taxation, socio-economic, marketing or political issues which could materially affect the mineral resource estimate described in this news release. Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grade, and contained metal content. Mineral resources are not mineral reserves and do not have demonstrated economic viability. An inferred mineral resource estimate has a lower level of confidence than an indicated mineral resource estimate, and has not been converted into a mineral reserve. It is reasonably expected that a majority of the inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. 2025 Exploration Plan Exploration will continue in 2025 with an approximate 4,000 meter drill program focused on the Tomasina Fault Zone at Wood Gulch. Wood Gulch is a former producing open pit mine and geological reinterpretation based on prior drill results has reprioritized Wood Gulch as a highly prospective target. While Wood Gulch is the focus of Western Exploration's 2025 exploration program, the significant resource increase at Gravel Creek (as described in this news release) supports a more extensive drill program aimed at infill drilling and resource expansion. In addition, the Company will continue to de-risk the project through project refinement, both in terms of potential processing and cost parameters, continued geotechnical work, ongoing environmental studies, and permit planning. MRE Methodology The Wood Gulch-Gravel Creek mineral resource estimate includes the Gravel Creek, Saddle, and Southeast deposits. RESPEC modeled and estimated gold and silver mineral resources as follows: Constraining Gravel Creek low-, mid-, and high-grade gold and silver mineral domains were modeled on 50 meter-spaced vertical sections and transposed to long sections centered at mid-block locations. The Gravel Creek geological model and other relevant geological data were used to guide the modeling of mineral domains. A block model — with 4m by 4m by 4m blocks — was coded with the gold and silver domains using the long section interpretations. Drill-hole assays were composited to a 3 meter length, honoring the mineralized gold domains. Gold and silver grades were interpolated into the block model using the mineral domains to explicitly constrain grade estimations. RESPEC utilized Inverse Distance Cubed (ID3) and Quadrupled (ID4) interpolations for a two-pass estimation. The first pass used a maximum search distance of 400 meters and applied ID3 interpolation to all domains. The second pass applied ID3 interpolation to the low- and mid-grade domains and ID4 interpolation to the high-grade domain to a maximum search distance of 80 meters. Individual domain grades were weighted-averaged to produce fully block-diluted reported mineral resources. The Doby George MRE includes the West Ridge, Daylight, and Twilight deposits. RESPEC modeled the mineral resource estimate for gold as follows: Constraining gold mineral domains of low- and high-grade mineralization were modeled on 30 meter spaced vertical sections and transposed to long sections centered at 6 meter mid-block locations. The Doby George geological model and other relevant geological data were used to guide the modeling of mineral domains. A block model — with 6m by 6m by 6m blocks — was coded with the gold domains using the 6 meter spaced long section interpretations. Drill-hole assays were composited to a 3 meter length, honoring the mineralized gold domains. Gold grades were interpolated into the block model using gold mineral domains to explicitly constrain grade estimations. RESPEC utilized Inverse Distance Cubed (ID3) and Quadrupled (ID4) interpolations for the estimation, achieving a localizing effect in the high-grade domain, and applied ID3 interpolation to the low-grade domain estimate. Individual domain grades were weight averaged to produce fully block-diluted reported mineral resources. Quality Assurance — Quality Control Drill program design, Quality Assurance/Quality Control ("QA/QC") and the interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Technical Information The MRE was prepared for Western Exploration by Mr. Michael S. Lindholm, C.P.G. of RESPEC in Reno, Nevada, who is a qualified person for purposes of NI 43-101 and independent of Western Exploration as defined in Section 1.5 of NI 43-101. The scientific and technical information in this news release has been reviewed and approved by Mr. Michael S. Lindholm, C.P.G. of RESPEC. For readers to fully understand the information in this news release, reference should be made to the full text of the Technical Report, once filed, including all assumptions, qualifications and limitations therein. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. About Western Exploration Western Exploration is focused on advancing the 100% owned Aura Project, located approximately 120 kilometers/75 miles north of the city of Elko, Nevada. The Aura Project includes three unique gold and silver deposits: Doby George, Gravel Creek, and Wood Gulch. Western Exploration is comprised of an experienced team of precious metals experts that aim to lead the company to becoming North America's premiere gold and silver development company. Additional information regarding Western Exploration can be found on Western Exploration's corporate website ( and on SEDAR+ ( under Western Exploration's issuer profile. For further information, please contact: Darcy MarudChief Executive OfficerTelephone: (775) 329-8119Email: dmarud@ Nichole CowlesInvestor RelationsTelephone: (775) 240-4172Email: nicholecowles@ Cautionary Statements Regarding Estimates of Mineral Resources This news release uses the terms measured, indicated, and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimate disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing, or other relevant issues. The mineral resource estimate is classified in accordance with CIM Definition Standards for Mineral Resources & Mineral Reserves prepared by the CIM Standing Committee on Reserve Definition, which is incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. On October 31, 2018, the SEC adopted new mining disclosure rules ("S-K 1300") that are more closely aligned with current industry and global regulatory practices and standards, including NI 43-101, although there are some differences in the two standards. Accordingly, information concerning mineral deposits contain in this release may not be comparable with information made public by U.S. companies that report in accordance with S-K 1300. Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" within the meaning of the applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). These forward-looking statements, by their nature, require the Company to make certain assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the significance of the results of the MRE; the Technical Report being filed within 45 days of May 8, 2025 (if at all) supporting the results of the MRE described in this news release; the ability of exploration activities, including drilling, to accurately predict mineralization; management's expectations on the grade and extension of mineralization; the accuracy of results from prior exploration activities conducted at the Aura Project; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Doby George, Gravel Creek and Wood Gulch mineral deposits; and the schedule of further drilling and exploration activities. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management's geological modelling; the ability of Western Exploration to complete further exploration activities, including drilling; the uncertain nature of exploration activities; property and royalty interests in respect of the Aura Project; the ability of the Company to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Western Exploration cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Western Exploration nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Western Exploration does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements and forward-looking information made in this news release concerning Western Exploration, please refer to the continuous disclosure record of Western Exploration on SEDAR+ ( under Western Exploration's issuer profile. The forward-looking statements set forth herein concerning Western Exploration reflect management's expectations as at the date of this news release and are subject to change after such date. Western Exploration disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. To view the source version of this press release, please visit
