17:46:12 EDT Mon 05 Oct 2026
Enter Symbol
or Name
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CA



Wescan Goldfields Inc (2)
Symbol WGF
Shares Issued 77,118,557
Close 2026-10-02 C$ 0.14
Market Cap C$ 10,796,598
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Wescan Goldfields begins drilling at Munro Lake

2026-10-05 16:10 ET - News Release

Mr. W. Connor MacNeill reports

WESCAN GOLDFIELDS COMMENCES DIAMOND DRILLING AT MUNRO LAKE PROJECT

Diamond drilling has commenced at Wescan Goldfields Inc.'s Munro Lake project in Northern Saskatchewan. Phase 1 of the 2026 program consists of up to 2,000 metres of helicopter-supported diamond drilling and is expected to continue for approximately five weeks. The Munro Lake project is located seven kilometres northeast of SSR Mining's Seabee mine and mill complex, Saskatchewan's only producing gold operation, within the same broader structural corridor that hosts the Seabee and Santoy mines.

The initial holes are testing the southeastern zone, where Wescan's 2013 drill program intersected 67.1 grams per tonne gold over 1.00 metre in drill hole EXML-002 and 7.1 g/t gold over 1.02 metres in EXML-001 (see company news release dated June 17, 2013), with drilling designed to test the extent of this mineralization down plunge and along strike. Structural mapping of the gold-bearing quartz veins in the southeastern zone is being used to guide drill hole placement. Subsequent holes are planned to test additional targets along the interpreted seven-kilometre mineralized trend, including areas of surface grab samples assaying up to 38 g/t gold.

"Having a drill turning at Munro Lake is a major milestone for Wescan," said W. Connor MacNeill, chief executive officer of Wescan. "The project is well located, with the southeast zone approximately three kilometres from SSR Mining's haul road. For the first time since 2013, we are following up the southeast zone intercepts with the drill, and we look forward to reporting results as the program advances."

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by John Shmyr, PGeo, of Dahrouge Geological Consulting Ltd., a registered member of the Association of Professional Engineers and Geoscientists of Saskatchewan. Mr. Shmyr is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Shmyr has verified the data disclosed in this news release and consents to the inclusion of the matters based on his information in the form and context in which it appears.

About Wescan Goldfields Inc.

Wescan Goldfields is a Canadian junior exploration company focused on the exploration and development of gold projects in Northern Saskatchewan. The company holds a 100-per-cent interest in four gold projects: the Munro Lake project, located in the Pine Lake greenstone belt adjacent to the Seabee/Santoy gold camp; and, in Saskatchewan's historic La Ronge gold belt, the Jojay Lake project, which hosts the Jojay gold deposit, the Fork Lake project, which hosts the past-producing Jasper gold mine, and the recently acquired Lindsay Lake project.

The Jojay gold deposit is the subject of a historic 2010 National Instrument 43-101-compliant mineral resource estimate completed by ACA Howe International Ltd., comprising an indicated resource of 420,000 tonnes grading 3.7 g/t gold, and an inferred resource of 630,000 tonnes grading 4.3 g/t gold (at a 2.0 g/t gold cut-off). The Jasper gold mine was operated by Cameco Corp. in the early 1990s and produced approximately 82,700 ounces of gold from approximately 140,000 tonnes grading 18.9 g/t gold prior to its closure. Shares of Wescan trade on the TSX Venture Exchange under the symbol WGF.

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