On August 30, 2023, Western Gold Exploration Ltd. has closed the transaction. The company issued 15,811,666 common shares at a issue price CAD 0.2 per share for a gross proceeds of CAD1,897,399.92. The company has agreed to pay finders' fees or issue finders' warrants, as applicable, in respect of the aggregate sales to subscribers under the transaction that were introduced by certain parties, as follows to Canaccord Genuity Corp., a cash finder's fee of CAD4,680 and finders' warrants to acquire up to 39,000 common shares at a price of CAD0.2 per share for 12 months from the date of issuance; Haywood Securities Inc., a cash finder's fee of CAD12,210 and finders' warrants to acquire up to 101,750 common shares at a price of CAD 0.2 per share for 12 months from the date of issuance; StephenAvenue Securities Inc., a cash finder's fee of CAD 990 and finders' warrants to acquire up to 8,250 common shares at a price of CAD0.2 per share for 12 months from the date of issuance, Canaccord Genuity Corp., acash finder's fee of CAD 4,680 and finders' warrants to acquire up to 39,000 common shares at a price of CAD 0.20 per share for 12 months from the date of issuance; and to Rupert Williams, a cash finder's fee of CAD96,858. The transaction is Subject to the final review by the TSX Venture Exchange. Zila Corp., an insider of the company because of it holding more than 10% of the issued and outstanding common shares, acquired two million common shares at an aggregate subscription price of CAD 240,000

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The traansaction included participation from 34 placees including existing insider involvement of one insider for two million and pro group involvement of five pro-groups for 975,000.