WESCAN GOLDFIELDS INC. ANNOUNCES CLOSING OF SECOND TRANCHE, UPSIZING AND EXTENSION OF PRIVATE PLACEMENT

About this update from Wescan Goldfields Inc.

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/ SASKATOON, SK, June 15, 2026 /CNW/ - Wescan Goldfields Inc. (TSXV: WGF) ("Wescan" or the "Company") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement of units of the Company (the "Units") at a price of $0.22 per Unit, for gross proceeds of $164,670 through the issuance of 748,500 Units (the "Offering"), which was initially announced on April 30, 2026. Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one half Common Share purchase warrant of the Company (each, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.35 for a period of twenty-four months from the date of issuance thereof. In connection with the second tranche of the Offering, the Company paid finder's fees in an aggregate amount of $9,880, in cash, and issued an aggregate of 44,910 Common Share purchase warrants to certain eligible finders in accordance with the policies of the TSX Venture Exchange (the "Exchange"). The Company also announces that, further to its press releases dated Apirl 30, 2026 and June 4, 2026, it has received a 45-day extension from the Exchange with repsect to the duration of the Offering and it has upsized the Offering by $15,532 for total gross proceeds of up to of $2,515,532. The Company anticipates closing a third and final tranche of the Offering in the amount of $110,000 in the coming days, subject to customary closing conditions and final acceptance of the Exchange. All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day in accordance with applicable securities legislation and the policies of the Exchange. Completion of the Offering remains subject to final acceptance of the Exchange. The Company intends to use the proceeds from the Offering to support its planned 2026 exploration programs and advance the next phase of exploration across its highly prospective Saskatchewan gold project portfolio. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction in which the offe...

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