Western Exploration Inc · TSXV:WEX
Western Exploration — Investor Presentation (September 2023)
20 slides from Western Exploration's investor presentation, September 2023
Slide 1: Nevada Means Gold
Nevada Means Gold TSX-V: WEX | OTCQX: WEXPF 1 Corporate Presentation | September 2023 WESTERNEXPLORATION.COM
Slide 2: Why Western Exploration?
Why Western Exploration? Experienced 607K/3,169K A Leading Gold & Proven Indicated Mining Management 578K/6,115K Jurisdiction, Team Inferred(1) Nevada Au/Ag oz Gravel Creek Doby George Expansion New and Growing Near term open pit Drilling Gold Discovery production 3 Additional opportunity Deposits N
Slide 3: Aura Project – Elko County, NV
Aura Project – Elko County, NV Property Covers approximately 61.6 km² Mineral claims are 100% owned by WEX N.I. 43-101 Compliant Resource (Updated 2021) 607K gold and 3,169K silver ozs in Indicated (14,237,000 tonnes @ 1.43 AuEq g/t) 578K gold and 6,115K silver ozs in Inferred (12,102,000 tonnes @ 1
Slide 4: Market Share & Capitalization
Market Share & Capitalization 1% 7% 34.4M TSX-V: OTCQX: Shares Outstanding WEX WEXPF 11% Market Capitalization and Balance Sheet 12% SHAREHOLDERS 4.3M Shares Outstanding 34.4M 58% Warrants Outstanding Fully Diluted Shares 40.4M Share Price(2) C$0.92 16% $4.6M Share Price Range(2) C$0.90 - $2.40 Last
Slide 5: Aura Alteration Districts – Shaded
Aura Alteration Districts – Shaded Scale NI 43-101 Resource Areas 0 2.0km 2.0 km Targets Aura Project Soils Weighted Average Top 78th percentile combined Au-As-Sb 4 to 7.3 (82) 2 to 4 (593) Numerous drill ready targets identified to 1 to 2 (941) p Gravel Creek area underlay is contoured ground densi
Slide 6: Aura Project – NI 43-101 Mineral Resource Estimate
Aura Project – NI 43-101 Mineral Resource Estimate Mineral Resources (October 14, 2021)(1)(2) INDICATED INFERRED Au Au Ag Ag AuEq AuEq Au Au Ag Ag AuEq AuEq Tonnes Tonnes (g/t) (ozs) (g/t) (ozs) (g/t) (ozs) (g/t) (ozs) (g/t) (ozs) (g/t) (ozs) Doby George(3) 12,922,000 0.98 407,000 0.98 407,000 4,999
Slide 7: Doby George – Advancing a Near Surface, High Grade Oxide Deposit
Doby George – Advancing a Near Surface, High Grade Oxide Deposit Blizzard Point West Ridge Daylight Twilight $1800 Au Pits with +1.0 g/t Au resource blocks and DH composites Metallurgy Infrastructure Exploration Potential Historic - 52 bottle rolls and 23 column leach tests, Doby George has excellen
Slide 8: Doby George – 2022 PQ Metallurgical Hole Locations and Results
Doby George – 2022 PQ Metallurgical Hole Locations and Results High Grade Oxide Mineralization Current Drill Results Confirm the High-Grade Drillholes were spaced throughout the resource to test areas of pre 2000 drilling with less diamond drilling. Ratio of Au fire assay and CN soluble Au assays we
Slide 9: Doby George
Doby George A West Ridge N. Doby Ridge A’ Strong Au-As soil anomalies Open Open 1050-meter zone with no drilling D748 Open Doby atDeep starting 673.5 m 5.79m @ 7.24 g/t Au 70m section width; View looking N45W Drilling completed by WEX has Best grades near surface with Mineralization open down demons
Slide 10: Untested Depth Potential below West Ridge-Blizzard Point Resources
Untested Depth Potential below West Ridge-Blizzard Point Resources Known resources extend along a strike length of 1100 meters at the 1950-m elevation B B’ Long Sections highlight untested exploration Blizzard Point West Ridge NW WR Starter Pit potential down dip below the 1,900m elevation 2000m 180
Slide 11: Doby George
Doby George Resource grade ranks in top quartile of Northern Nevada (US) open pit oxide deposits Select North American Open Pit Gold Projects – Grade (Au g/t)* 1.77 1.47 1.39 1.42 1.42 Higher grade potential demonstrated 1.15 by current drill results 1.11 0.92 0.93 0.81 0.74 0.75 0.64 0.65 0.66 0.58
Slide 12: Wood Gulch / Gravel Creek Deposits
Wood Gulch / Gravel Creek Deposits Geological similarities between Gravel Creek and Wood Gulch Wood Gulch (Southwest and Saddle) - Historical Production of 646,500 tonnes - Pre-mining historical resource of 423,000 tons at 3.36 g/t Au and 23.65 g/t Ag (Baker, 1990)(1) 2013 Gravel Creek Discovery - D
Slide 13: Gravel Creek – A New Discovery
Gravel Creek – A New Discovery Wood Gulch Gravel Creek WG-422 w 3.05m @ 7.49 g/t Au, 304.4 g/t Ag WG-386 w 1.52m @ 27.2 g/t Au, 53 g/t Ag WG-417 w 3.04m @ 40.05 g/t Au, 1144 g/t Ag WG-421 WG-360 33.53m @ 0.56 g/t Au, 3.92 g/t Ag WG-379 w 9.14m @ 41.55 g/t Au, 130.7 g/t Ag 32m @ 0.78 g/t Au, 11 g/t A
Slide 14: Intercepts Outside of Resource Imply Expansion Potential
Intercepts Outside of Resource Imply Expansion Potential Wood Gulch The GAP Gravel Creek Interval Au Ag AuEq Area Hole (m) g/t g/t g/t 4 WG377 3.05 6.19 69.3 7.18 Tomasina Fault GC and 1.52 24.30 1655.0 47.94 and Splay Fault Miocene and 1.52 26.00 713.0 36.19 Jarbidge 1 Rhyolite and 1.53 11.25 385.0
Slide 15: Wood Gulch to Gravel Creek – High Gold and Silver grades
Wood Gulch to Gravel Creek – High Gold and Silver grades High grades at mineable widths intersected over a 1 km vertical range and 2 km horizontal range Elev From To Interval Au Ag Aueq Hole Surface projection of 500m-depth density data Area Hole Type (m) (m) (m) (m) g/t g/t (65:1) Lithology WG-134
Slide 16: NE Gravel Creek Extension
NE Gravel Creek Extension Favorable geochemistry in Miocene volcanics ~1.0-kilometer NE of Gravel Creek Area Sample Au ppm Ag ppm Ag:Au ratio As ppm Sb ppm Mo ppm 781634 0.23 36.4 160 416 34 351 781636 0.22 8.4 39 627 44 4 781638 1.62 19.4 12 1355 84 26 781640 0.04 3.4 97 198 7 5 N. Badger 781645 0.
Slide 17: Western Exploration – Upcoming Catalysts
Western Exploration – Upcoming Catalysts Early Q3 2023 Mid Q3 2023 Late Q3 2023 Q4 2023 2023 Commence Geophysics Geophysics Update Doby George Column Gravel Creek Drill Results and Drilling Program Test Results Q1/Q2 2024 Q3/Q4 2024 Q4 2024 2024 Gravel Creek Gravel Creek and Doby George PFS Resource
Slide 18: Management Team
Management Team Darcy Marud Curtis Turner Chief Executive Officer, President Chief Financial Officer & Director ⃓ VP Finance and Corporate Controller i-80 ⃓ Former executive roles in exploration Gold Corporation and development at Meridian Gold ⃓ Former CEO of Candeleria Mining Corp Inc. and Yamana
Slide 19: Experienced Board of Directors
Experienced Board of Directors Marceau Schlumberger Brian Kennedy Nicolas Schlumberger Chairman of the Board Leading Director Director ⃓ Founder and Managing Member ⃓ Founder and former Chairman ⃓ Former Managing Director at Drexel of Coral Reef Capital, a natural of Argonaut Gold Inc. Burnham Lambe
Slide 20: Contact Us
Contact Us Darcy Marud, CEO Nichole Cowles, Director of IR 1-775-240-4172 info@westernexploration.com 20 TSX-V: WEX | OTCQX: WEXPF
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