Mr. Andrew Nelson reports

WESTWARD GOLD ANNOUNCES CLOSING OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT FINANCING

Westward Gold Inc. has closed its previously announced non-brokered private placement (see press releases dated Feb. 28, 2024, and March 6, 2024), and has issued 20,792,646 units at a price of eight cents per unit, for aggregate gross proceeds to the company of approximately $1,663,412. Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 12 cents for a period of 24 months following the closing date of the offering.

The net proceeds from the offering will be used primarily (i) to finance advanced drill-targeting efforts at the company's consolidated land package on the Cortez trend, including detailed geological mapping, rock-chip and soil sampling programs, and geophysical surveys (further described in Westward's press release dated Feb. 27, 2024), (ii) to finance continuing due diligence of potential M&A (merger and acquisition) opportunities, and (iii) for general working capital purposes.

In connection with the offering, an aggregate total of $25,004 in cash finders' fees were paid and 341,950 finders' warrants were issued to qualified parties. The finders' warrants are subject to the same terms as the warrants issued in the offering.

Certain insiders of the company acquired units in the offering, for an aggregate total of 2.85 million units and gross proceeds of $228,000. The participation by such insiders in the offering constituted a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Such participation was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the units subscribed for by the insiders, nor the consideration for the units paid by such insiders, exceeded 25 per cent of the company's market capitalization.

About Westward Gold Inc.

Westward Gold is a mineral exploration company focused on developing the Toiyabe, Turquoise Canyon and East Saddle projects located in the Cortez Hills area of Lander county, Nevada, and the Coyote and Rossi projects located along the Carlin trend in Elko county, Nevada. From time to time, the company may also evaluate the acquisition of other mineral exploration assets and opportunities.

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