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Western Gold Announces Joint Venture with Acrux Gold to Explore High-Grade Gold, Silver, and Critical Minerals
North Berwick, Scotland--(Newsfile Corp. - November 25, 2025) - WESTERN GOLD EXPLORATION LTD. (T...
About this update from Western Gold Exploration Ltd.
[{"type":"text","content":"Western Gold Announces Joint Venture with Acrux Gold to Explore High-Grade Gold, Silver, and Critical MineralsNorth Berwick, Scotland--(Newsfile Corp. - November 25, 2025) - WESTERN GOLD EXPLORATION LTD. (TSXV: WGLD) (the \"Company\") is pleased to announce that its wholly owned subsidiary, Lorne Resources Ltd. (\"Lorne Resources\"), has entered into a joint venture (the \"JV\") with Acrux Gold Limited (\"Acrux Gold\"), to explore for gold, silver, and critical minerals as part of the Caledonian Gold Project in central Scotland.Speaking about the joint venture, Western Gold Exploration Chairman, Harry Dobson, confirmed that \"The Company views this venture as a significant step forward in unlocking the broader gold potential of the Caledonian Belt in Scotland, leveraging both Lorne's exploration expertise and Acrux Gold's operational experience at Cononish.\" Acrux Gold was chosen for this joint venture as it is operating on Scotland's only defined gold resource - as measured under the JORC Code (2012) - the Cononish Gold Project, located near Tyndrum, Perthshire, Scotland. Under the new joint venture, all exploration and operational activities will be carried out by the JV company, Glen Lyon Limited (\"Glen Lyon\"). Glen Lyon has applied for two Crown Estate Mines Royal Option Agreements (exploration licences) covering a highly prospective area of approximately 500 km² in central Scotland. The project areas for those exploration licences are adjacent to the Cononish Gold Project, which hosts a high-grade deposit and runs along the same mineralised suture zones known to host gold-bearing structures. A comprehensive review of historical geological and exploration data is currently underway, and further updates will be provided in due course. In establishing the JV, Lorne Resources and Acrux Gold have entered into a shareholders' agreement dated November 25, 2025 for Glen Lyon. That agreement defines governance, funding, and operational frameworks, with Lorne Resources holding 90% and Acrux Gold 10%. Acrux Gold holds a free carried interest during the exploration phase, meaning it is not required to fund activities until completion of the first formal resource estimate on any prospect, after which future costs will be shared proportionately. The agreement also grants Acrux Gold rights to a termination, should Crown Estate Sco...