Mr. Darcy Marud reports

WESTERN EXPLORATION ANNOUNCES CLOSING OF CDN $1.7 MILLION PRIVATE PLACEMENT WITH STRATEGIC NEW SHAREHOLDER

Western Exploration Inc. has closed its previously announced non-brokered private placement of units of the company. Under the offering, the company issued an aggregate of 1,603,773 units at a price of $1.06 per unit for gross proceeds of approximately $1.7-million to a new strategic investor, TXAU Ventures LLC of Houston, Tex.

Each unit consists of one variable voting share of the company and one-half of one variable voting share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one variable voting share of the company at a price of $1.36 per warrant share at any time on or before the date which is 24 months after the closing date of the offering, subject to adjustment in certain events.

In relation to the offering, Risher Randall III, manager of TXAU Ventures, commented: "After months of discussions, we are excited to become a capital partner of Western Exploration as we aim to support the company as they develop the Aura project in northeastern Nevada. We see the Doby George as a high-quality, midsized heap-leach project, and we are excited about the exploration potential at Gravel Creek based on the drilling results from 2023. Our investment is expected to be used to advance the Doby George into a prefeasibility and permitting stage as we believe this deposit is largely derisked and ready for advancement. Furthermore, we think highly of the Western Exploration team, and we are excited to support them as they push the Doby George project forward and continue exploration work at Gravel Creek which we believe could shape up to be the next high-grade deposit in the region."

Darcy Marud, chief executive officer of Western Exploration, added: "We are grateful for the support of TXAU Ventures and the belief they have placed in Western Exploration's management. We look forward to ramping up activities at Doby George in parallel with the continued exploration effort at Gravel Creek creating additional value for all of our stakeholders."

All securities issued pursuant to the offering will be subject to a hold period in accordance with applicable Canadian securities laws, expiring four months and one day following the closing date.

The company intends to use the net proceeds raised from the offering to advance a prefeasibility study of the Doby George deposit, undertake baseline studies, commence permitting of the Doby George deposit and for general corporate purposes.

Completion of the offering remains subject to the receipt of all final approvals of the TSX Venture Exchange.

About Western Exploration Inc.

Born from a 25-year history of advancing exploration projects in Nevada as a private company, today Western Exploration comprises an experienced team of precious metals experts that aims to lead Western Exploration to becoming a premier gold and silver development company in North America. Western Exploration is focused on advancing the 100-per-cent-owned Aura gold-silver project, located approximately 120 kilometres/75 miles north of the city of Elko, Nev. The project includes three unique gold and silver deposits: Doby George, Gravel Creek and Wood Gulch. Western Exploration comprises an experienced team of precious metal experts that aim to lead the company to becoming North America's premier gold and silver development company.

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