Mr. Peter Laipnieks reports

WESTKAM GOLD CORP. CLOSES PRIVATE PLACEMENT

Westkam Gold Corp. has closed a non-brokered private placement, previously announced on Dec. 4, 2023. The company has issued 2,133,333 units for gross proceeds of $160,000. Each unit consists of one common share and one common share purchase warrant, exercisable at 10 cents for a period of two years following the close of the offering.

Peter Laipnieks, president, chief executive officer and a director of the company, and Matt Wayrynen, a director of the company, participated in the offering. Mr. Laipnieks purchased 166,666 units for gross proceeds of $12,500 and Mr. Wayrynen purchased 800,000 units for gross proceeds of $50,000. Participation by the insiders in the offering is considered a related-party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the offering, in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insiders did not exceed 25 per cent of the fair market value of the company's market capitalization. The company did not file a material change report at least 21 days prior to the closing of the offering as participation of the insiders had not been confirmed at that time.

All securities issued in connection with the closing of the offering are subject to a hold period expiring May 3, 2024, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

About Westkam Gold Corp.

Westkam Gold is focused on acquiring and developing gold and silver properties with strong potential to host significant resources in Western Canada. The company recently added the Will claim located in the Goldbridge mining district, near the former Pioneer and Bralorne mines. The company continues to seek additional projects that are in established mining districts with highly prospective geology.

We seek Safe Harbor.