Mr. Ken MacNeill reports

WESCAN GOLDFIELDS INC. ANNOUNCES CLOSING OF FULLY SUBSCRIBED PRIVATE PLACEMENT

Wescan Goldfields Inc. has closed its previously announced non-brokered private placement of units of the company at a price of five cents per unit, for aggregate gross proceeds of $600,000, through the issuance of 12 million units, which was initially announced on Dec. 1, 2025, and subsequently upsized on Dec. 15, 2025.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share at an exercise price of 10 cents per share for a period of 24 months from the date of issuance.

In connection with the offering, the company paid certain finders' fees in an aggregate amount of $31,800, in cash, and issued an aggregate of 636,000 common share purchase warrants to certain eligible finders in accordance with the policies of the TSX Venture Exchange. Each finder's warrant entitles the holder thereof to acquire one common share at an exercise price of 10 cents per share for a period of 24 months from the date of issuance.

All securities issued pursuant to the offering are subject to a statutory hold period of four months and one day in accordance with applicable securities legislation and the policies of the exchange. Completion of the offering remains subject to final acceptance of the exchange.

The company intends to use the proceeds from the offering to update the mineral resource estimate on the Jojay project, to review technical information on the historic Jasper mine and the Munro Lake project to support permitting and planning of 2026 exploration programs, and for general working capital purposes.

About Wescan Goldfields Inc.

Wescan is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Common shares of Wescan trade on the exchange under the trading symbol WGF.

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