Business
Western Gold Announces Further Increase to Non-Brokered Private Placement
North Berwick, Scotland--(Newsfile Corp. - December 8, 2025) - WESTERN GOLD EXPLORATION LTD. (TS...
About this update from Western Gold Exploration Ltd.
[{"type":"text","content":"Western Gold Announces Further Increase to Non-Brokered Private PlacementNorth Berwick, Scotland--(Newsfile Corp. - December 8, 2025) - WESTERN GOLD EXPLORATION LTD. (TSXV: WGLD) (the \"Company\") is pleased to announce that, due to continued investor demand, it has further increased the total potential amount of its non-brokered private placement of common shares (the \"Private Placement\") originally announced on December 3, 2025. The Company now intends the Private Placement to consist of up to 20,740,741 common shares of the Company at a price of CAD$0.135 per share for gross proceeds of up to CAD$2,800,000.The Private Placement is subject to the approval of the TSX Venture Exchange (the \"Exchange\"). The securities issued in connection with the Private Placement will be subject to a four month hold period, in accordance with applicable securities laws. The Company intends to use the proceeds from the Private Placement toward exploration drilling programs and related work on its mining properties and for general and administrative expenses.The Company may pay a commission or finder's fee to eligible parties in connection with the Private Placement, subject to the approval of the Exchange and compliance with applicable securities laws.About Western Gold ExplorationThe Company is a mineral exploration company that is listed on the TSX Venture Exchange under the symbol \"WGLD\". The Company is focused on the exploration of mineral properties in Scotland and discovering new opportunities across the underexplored Caledonian Appalachian and identifying locations of gold and critical metal deposits. The Company's principal focus is its Lorne Project, which includes the Lagalochan copper gold porphyry property located in Argyll, Scotland (the \"Lagalochan Property\"), and the adjacent and nearby properties along the Lorne Fault Zone. The Company recently announced that its wholly-owned subsidiary, Lorne Resources Ltd., has entered into a joint venture with Acrux Gold Limited, to explore for gold, silver, and critical minerals as part of the Caledonian Gold Project in central Scotland. See the Company's 25 November 2025 press release for additional information.On 29 November 2022, the Company filed a National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant, independent Technical Report (the \"Technical Rep...