Western Gold Exploration Ltd. announced a non-brokered private placement of 16,666,666 common shares at an issue price of CAD 0.12 per share for gross proceeds of CAD 2,000,000 on July 25, 2023. The company has the option to increase the size of the transaction by up to an additional 2,500,000 shares, for total gross proceeds of up to CAD 300,000. The transaction is subject to the approval of the TSX Venture Exchange.

The securities issued will be subject to a four-month hold period, in accordance with applicable securities laws. The company may pay a commission or finder's fee to eligible parties in connection with the transaction, subject to the approval of the Exchange and compliance with applicable securities laws.