WESTERN GOLD EXPLORATION LTD. announced the completion of its 2023-2024 drilling within the Lorne Porphyry District, Argyll, Scotland. Drilling focussed on its two main prospects, Lagalochan and Ardlochan, situated 8km apart along the same geologically prospective corridor, termed the Lorne Fault Zone. A total of 11 shallow holes were drilled, eight of which were targeting porphyry stockwork extensions and skarn mineralisation at the western margins of Lagalochan for a total length of 1,207m.

In addition, three initial holes focused on the newly identified outcropping porphyry mineralisation at Ardlochan, identified during recent sampling (see February 2024 Press Release) for a total length of c. 221m. its 2023-2024 exploration campaign has followed up on the target recommendations disclosed in its Technical Report (defined below). These included extensions to the copper-gold stockwork and skarn mineralisation which can be tested via shallow drilling.

High-Grade Epithermal Style Gold Veining [Hole WGLD001, Lagalochan] 1.3m @ 20.8 g/t Au, from 109m and 1.0m @ 8.49 g/t Au, from 52m. Veins remain open along strike. Porphyry Mineralisation Extended [Hole WGLD002, Lagalochan] Intercepted "B" vein stockwork 800m west of North Hill, where its 2018 drilling intercepted 537m @ 0.17% Cu, 0.11g/t Au, 2.67g/t Ag [LD18-04].

Stockwork style copper gold mineralisation was intercepted along the entire hole, with the better portion assaying 45m @ 0.17% Cu, 0.13 g/t Au from 78m downhole. This is important as it more than doubles the potential area of outcropping porphyry mineralisation at Lagalochan and provides more scope for locating the higher-grade centre of the porphyry mineralisation at depth. These grades while low are close to values of operating mines in British Columbia such as Gibraltar and Highland Valley.

Skarn Mineralisation [Hole WGLD006-07, Lagalochan] Low grade gold skarn mineralisation intercepted in multiple holes with a best intercept of 3m @ 1 g/t Au, 0.05% Cu from 44m within a larger interval of 30m @ 0.29 g/t Au from 30m downhole. Higher-grade skarn surface targets remain untested. Proof of concept that skarn mineralisation is a valid exploration target adding to the economic potential of the project.

WGLD001 intercepted pyritic (up to 10%) metabasite and metasediments as indicated by the target IP geophysical anomaly. Drilling reveals that our conductive IP anomalies are identifying pyritic-phyllic alteration halos which are concealing economic mineralisation, such as the two gold-bearing quartz- sulphide veins intercepted (e.g., 1.3m @ 20.8 g/t Au, from 109m) that remain open along strike. Drilling also intercepted an unexpected zone of skarn mineralisation with low tenor gold enrichment, extending the scope of potential skarn targets across the property.

Potassic altered dykes encountered within the hole may provide a vector towards higher temperature stockwork mineralisation at depth. WGLD002 is a shallow hole targeting extensions to the copper-gold bearing stockwork mineralisation at North Hill. Low grade stockwork mineralisation was successfully intercepted throughout the hole and is hosted by a feldspar ± biotite porphyry with local brecciation, similar to that observed at North Hill.

This intercept extends the scale of porphyry mineralisation c. 800m west of North Hill - linking these two areas is a target of future drilling. Mineralisation up to 0.54% Cu and 0.26 g/t Au over 1m (from 79m) indicate that higher grade stockwork exists within the system. WGLD004 & WGLD005 drilled a molybdenum deep overburden anomaly (DOB) and encountered a new, unexpected zone of intensively altered porphyry breccia pipe(s) with a pyritic matrix and gold enriched dyke(s).

Although copper grades were sporadic a gold zone of 35.2m @ 0.21 g/t Au, from 18.8m is intercepted in WGLD004. Intense bleaching and sulphidation indicates intense circulatory fluid flow, perhaps Indicating another porphyry centre developing at depth below. WGLD006 & WGLD007 have intercepted outcropping skarn mineralisation, hosted by calcareous metasediments, at Lagalochan West.

The skarn is characterised by pervasive epidote-Kspar alteration and disseminated, locally massive, pyrite mineralisation which is crosscut by a series of potassic-altered feldspar porphyry dykes. Hole WGLD006 intercepted low tenor gold enrichment from surface, whilst only sporadic gold enrichment was encountered in WGLD007. Intercepted skarn is indicative of mineralisation forming distal to the causative intrusion and bears no causative relationship to the intercepted porphyry dykes.

Skarn intensity and grade is primarily developed in the more calcareous gritstones and their availability within the metasedimentary pile determines the skarn potential of the area. Previous backpack diamond drilling yielded high-grade intervals of up to 4.5m @ 1.78 g/t Au from surface and are yet to be drilled at depth. WGLD003 has successfully closed-off the extent of North Hill porphyry mineralisation c. 100m to the east, intercepting silicified red-feldspar porphyry intrusive with only sporadic stockwork mineralisation.

Although assay results were disappointing, this confirms its new geological thinking that the North Hill porphyry stockwork mineralisation extends to the west, where historic drilling is absent. WGLD008 was unsuccessful at intercepting a zone of gold-silver bearing epithermal veining, outcropping at surface within a shallow river section. The epithermal vein appears to be stoped out by a post-mineralisation dolerite dyke at depth.

Drilling Overview - Ardlochan Gold Bearing Porphyry Breccia [Hole WGLD009, Ardlochan] Initial 79m hole intercepted 47.4m @ 0.38g/t Au, from 31.8m downhole. Including 4.2m @ 1.2 g/t Au from 31.8m and 2m @ 1.25 g/t Au from 71m downhole within a porphyry breccia unit. Gold mineralisation remains open at depth.

Copper Gold Bearing Porphyry [WGLD010, Ardlochan] Initial 72m hole intercepted 12m @ 0.18% Cu, 0.25g/t Au, from 33m downhole. A significant hole as it shows extensive potassic alteration, bornite and magnetite near surface without a phyllic overprint, indicating near surface potential for the potassic core of WGLD009 targeted and intercepted a gold-bearing porphyry-breccia unit observed at surfaced and a flow banded, locally brecciated, grey porphyry (47.4m @ 0.38g/t Au). The porphyry-breccia contains higher-tenor gold enrichment and is composed of a potassic-altered pyrite-rich porphyry matrix with suspended, locally vein-mineralised, argillic altered porphyry clasts.

The hole ended in gold mineralisation and remains open at depth.