InvestmentPitch Media Feature Video Discusses Western Exploration, a Nevada-Focused Precious Metals Exploration Company, Aiming to be a Premier Gold and Silver Development Company in North America

Rhea-AI Summary

Western Exploration (TSXV:WEX) (OTCQX:WEXPF), a Nevada-focused precious metals exploration company, aims to become a leading gold and silver developer in North America. The company’s main asset is the 6,000-hectare Aura project, boasting significant indicated and inferred resources of gold equivalent ounces. Agnico Eagle Mines, a partner since 2017, has invested over US$14 million, acquiring an 18% stake. The Aura project is positioned for potential resource expansion, with heap leach gold recoveries of nearly 70% expected. Current shares are trading at $1.70.

Positive

• Agnico Eagle Mines invested over US$14 million and owns approximately 18% of the company.
• Aura project contains a NI 43-101 Resource Estimate with 652,271 indicated and 665,357 inferred gold equivalent ounces.
• Heap leach gold recoveries near 70% were indicated by prior metallurgical tests.
• The company has developed a robust geological model, suggesting potential for resource expansion.

Negative

• None.

VANCOUVER, British Columbia, March 15, 2022 (GLOBE NEWSWIRE) -- Today’s feature company is Western Exploration (TSXV:WEX) (OTCQX:WEXPF), a Nevada-focused precious metals exploration company, aiming to be a premier gold and silver development company in North America.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about Western Exploration, along with comments from Darcy Marud, Western Explorations, CEO. The video is available for viewing on “InvestmentPitch.com” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Western Exploration” in the search box.

The company was born out of a 25-year history of advancing exploration projects in Nevada as a private company. Its principal asset is its 100%-owned, 6,000-hectare Aura gold-silver project, located in Elko County, Nevada, approximately 120 kilometers north of the city of Elko.

In 2017, Agnico Eagle Mines became a partner and has invested more than US$14 million and currently owns approximately 18% and provides technical expertise through a joint technical committee with Western Exploration's management team.

The Aura Project, accessible year-round by highway and county roads with access to water and electricity nearby, is located 32 kilometers north of the Jerritt Canyon mine, which has been in continual operation since 1981. Aura Project is unique in the junior mining space as it has a NI 43-101 Resource Estimate technical report reflecting an indicated resource of 652,271 gold equivalent ounces at 1.43 grams per tonne and an inferred resource of 665,357 gold equivalent ounces at 1.71 grams per tonne. The Resource Estimate was based on three different deposits, the Doby George, Gravel Creek, and Wood Gulch, a former operating mine.

At Doby George, the current mineral resource is defined by more than 800 drill holes completed between 1997 and 2017. Results from the previous metallurgical testing completed on 26 bottle rolls and 23 column leach samples indicate that heap leach gold recoveries approaching 70% can be expected. A synthesis of exploration work conducted at the Aura Project from 1997 to 2021 has resulted in the creation of a robust geologic model, which offers significant potential for resource expansion and new discovery.

In the last two years, the company has compiled all historic data to develop a three-dimension model and establish a focused exploration program for the Aura Project. It has also advanced the project to a stage where limited additional metallurgical work can lead to the commencement of a pre-feasibility study.

The shares are trading at $1.70. For more information, please visit the company’s website, www.WesternExploration.com, contact Nichole Cowles, Investor Relations, at 775-240-4172 or by email at NicholeCowles@WesternExploration.com.

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. Western Exploration has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is Western Exploration's main asset?

Western Exploration's main asset is the 6,000-hectare Aura gold-silver project located in Elko County, Nevada.

What are the resource estimates for the Aura project?

The Aura project has an indicated resource of 652,271 gold equivalent ounces and an inferred resource of 665,357 gold equivalent ounces.

What is the trading price of Western Exploration shares?

Western Exploration shares are currently trading at $1.70.

Who is the partner of Western Exploration and what is their stake?

Agnico Eagle Mines is a partner of Western Exploration, owning approximately 18% of the company after investing over US$14 million.